24-1A-6
carrying out its corporate purposes and powers. (b) Sources of Payment. Bonds issued by the authority shall be payable solely out of revenues or property of the authority specified in the resolutions authorizing the issuance of such bonds. To the extent permitted by any contracts with the holders of outstanding bonds and any other contractual obligations or requirements, the authority may pledge any, or all, of its revenues or mortgages or assign any, or all, of its assets (whether real or personal and whether tangible or intangible) to secure the payment of any of its bonds. Revenues and property out of which bonds may be payable shall include, without limitation: (1) Payments of principal, interest, premiums and penalties in respect to mortgage loans, loans to mortgage lenders, mortgages and mortgaged property; (2) Proceeds referable to the foreclosure of mortgages or otherwise realized, by any and all means, upon any mortgaged property; (3) Payments made in redemption of the equity...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/24-1A-6.htm - 6K - Match Info - Similar pages
16-16-7
Section 16-16-7 Powers generally. The authority shall have the following powers: (1) To have succession by its corporate name until the principal of and interest on all bonds issued by it shall have been fully paid; (2) To sue and be sued and to prosecute and defend in any court having jurisdiction of the subject matter and of the parties thereto; (3) To have and to use a corporate seal and to alter the seal at pleasure; (4) To establish a fiscal year; (5) To provide for the construction, reconstruction, alteration and improvement of public buildings and other facilities for public educational purposes in the state, including the procurement of sites and equipment therefor; (6) To anticipate by the issuance of its bonds the receipt of the revenues herein appropriated and pledged; (7) As security for the payment of the principal of and interest on its bonds, to pledge the proceeds of the appropriations and pledges herein provided for; and (8) To appoint and employ such attorneys and...
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24-1A-5
to sell the equity of redemption, to purchase the equity of redemption and otherwise to sell and dispose of the mortgaged property, all as shall seem in the best interests of the authority and the holders of its bonds; (11) To sell and issue bonds in order to provide funds for any corporate function, use or purpose; (12) To mortgage, pledge, assign or grant security interests in any or all of its mortgage loans, mortgages and its interests created thereby in the underlying real and personal properties covered by such mortgages as security for the payment of the principal of, and interest on, any bonds issued by the authority, or as security for any agreements made in connection therewith, whether then owned or thereafter acquired, and to pledge the revenues from which said bonds are payable as security for the payment of the principal of, and interest on, said bonds and any agreements made in connection therewith; (13) To establish such reserves from the proceeds of any issue...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/24-1A-5.htm - 7K - Match Info - Similar pages
14-2-8
corporate name until the principal of and interest on all bonds issued by it shall have been fully paid and until it shall have been dissolved as provided in this chapter; (2) To maintain actions and have actions maintained against it and to prosecute and defend in any court having jurisdiction of the subject matter and of the parties thereof; (3) To have and to use a corporate seal and to alter such seal at pleasure; (4) To establish a fiscal year; (5) To acquire and hold title to real and personal property and to sell, convey, mortgage, or lease the same as provided in this chapter; (6) To provide for the acquisition, construction, reconstruction, alteration, and improvement of facilities and for the procurement of sites and equipment for such facilities and for the lease thereof; (7) To lease facilities to the state, the department, and any other agency or instrumentality of the state; (8) To anticipate by the issuance of its bonds as limited in this chapter the receipt of the rent...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/14-2-8.htm - 2K - Match Info - Similar pages
41-10-307
in its corporate name until the principal of and interest on all bonds issued by it shall have been fully paid and until it shall have been dissolved as provided herein; (2) To maintain actions and have actions maintained against it and to prosecute and defend in any court having jurisdiction of the subject matter and of the parties thereof; (3) To have and to use a corporate seal and to alter such seal at pleasure; (4) To establish a fiscal year; (5) To acquire and hold title to real and personal property and to sell, convey, mortgage or lease the same as provided in this article; (6) To provide for the construction, reconstruction, alteration and improvement of facilities and for the procurement of sites and equipment for such facilities and for the lease thereof; (7) To lease facilities to the state, the commission or any other agency or instrumentality of the state designated to perform the activities of the commission; (8) To anticipate by the issuance of its bonds, subject to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-307.htm - 2K - Match Info - Similar pages
41-10-497
in its corporate name until the principal of and interest on all bonds issued by it shall have been fully paid and until it shall have been dissolved as provided herein; (2) To maintain actions and have actions maintained against it and to prosecute and defend in any court having jurisdiction of the subject matter and of the parties thereof; (3) To have and to use a corporate seal and to alter such seal at pleasure; (4) To establish a fiscal year; (5) To acquire and hold title to real and personal property and to sell, convey, mortgage or lease the same as provided in this article; (6) To provide for the construction, reconstruction, alteration and improvement of facilities and for the procurement of sites and equipment for such facilities and for the lease thereof; (7) To lease facilities to the state, or any agency or instrumentality of the state; (8) To anticipate by the issuance of its bonds, subject to the provisions of this article, the receipt of the rent and revenues from...
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11-62-8
any authority may enter into contracts with the holders of any of its bonds or notes preventing such authority from thereafter issuing general obligation bonds or notes or limiting the amount of such bonds or notes that may thereafter be issued. To the extent permitted by any contracts with the holders of outstanding bonds and notes and any other contractual obligations or requirements, any authority may pledge any of its revenues or mortgage or assign any of its assets, whether real or personal and whether tangible or intangible, to secure the payment of any of its bonds or notes. (d) All obligations created or assumed by any authority and all bonds or notes issued thereby shall be solely and exclusively an obligation of such authority and shall not create an obligation or debt of the state, the determining municipality or any other political subdivision of the state or public corporation or governmental agency existing under the laws thereof; provided, that the provisions of this...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-62-8.htm - 12K - Match Info - Similar pages
45-36-252.06
Section 45-36-252.06 Bonds of the authority; obligations. (a) In addition to all other powers now or hereafter granted by law, the authority shall have the following powers, together with all powers incidental thereto or necessary to the discharge thereof in corporate form: (1) To sell and issue bonds of the authority in order to provide funds for any corporate function, use, or purpose, any such bonds to be payable solely out of one or more of the following: a. Any or all proceeds or receipts from the privilege, license, or excise tax levied on the sale, distribution, storage, use, or consumption of tobacco and certain tobacco products in Jackson County by Section 45-36-247. b. Any or all proceeds from any tax received by the Jackson County Commission which are required by law to be deposited to the credit of the Jackson County Water Authority. c. The revenues derived from any water, sewer, or garbage system or facility of the authority. (2) To pledge for payment of any bonds issued...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-36-252.06.htm - 13K - Match Info - Similar pages
11-86A-12
and recreation purposes to other public persons and to any organization which is described in Section 501(c)(3) of the Internal Revenue Code of 1986, as in effect from time to time, or as recodified, or any corresponding provision of any future revenue law. (9) To accept gifts, grants, bequests, or devises. (10) To accept grants of money from public persons and to enter into binding agreements with those entities, with or without consideration. (11) To accept donations of money or real or personal or mixed property. (12) To invest in bank deposits, U.S. Treasury obligations, instruments, real, personal, or mixed property, and other investments as the board of directors may determine to be appropriate and convenient to accomplish any purpose for which an authority is organized, including works of internal improvement. (13) To appoint, contract with, and employ officers, employees, and agents including, but not limited to, engineers, accountants, attorneys, architects, construction...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-86A-12.htm - 5K - Match Info - Similar pages
16-60-87
Section 16-60-87 Powers of authority. The authority shall have the following powers: (1) To have succession by its corporate name until dissolved as hereinafter provided; (2) To sue and be sued and to prosecute and defend in any court having jurisdiction of the subject matter and of the parties thereto; (3) To have and to use a corporate seal and to alter the seal at pleasure; (4) To establish a fiscal year; (5) To provide for acquiring and improving sites for additional trade schools and junior colleges, constructing, acquiring, reconstructing, improving and altering buildings therefor and purchasing, acquiring and installing the original equipment thereof, and to make capital improvements to existing trade schools and at institutions of higher learning heretofore or hereafter established; (6) To anticipate by the issuance of its bonds the receipt of the revenues herein appropriated and pledged; (7) As security for the payment of the principal of and interest on its bonds, to pledge...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-60-87.htm - 1K - Match Info - Similar pages
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