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11-32-8
Section 11-32-8 Rates and charges. (a) Rates, fees, and charges for public transportation service
rendered by the authority from any of its transit systems shall be so fixed and from time
to time revised as at all times to provide funds that, when added to all other revenues including
tax proceeds anticipated to be received by the authority shall be at least sufficient to do
all of the following: (1) Pay the cost of operating, maintaining, repairing, replacing, extending,
and improving the systems from which such services are rendered. (2) Pay the principal of
and the interest on all bonds issued and obligations assumed by the authority that are payable
out of the revenues derived from operation of those systems, as the principal and interest
become due and payable. (3) Create and maintain reserves for the foregoing purposes or any
of them as may be provided in any mortgage, deed of trust, or trust indenture executed by
the authority or in any resolutions of the board authorizing the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-32-8.htm - 1K - Match Info - Similar pages
11-49A-9
Section 11-49A-9 Rates for public transportation service. Rates, fees, and charges for public
transportation service rendered by the authority from any of its transit systems shall be
fixed and from time to time revised as at all times to provide funds that, when added to all
other revenues (including tax proceeds) anticipated to be received by the authority, will
be at least sufficient: (1) To pay the cost of operating, maintaining, repairing, replacing,
extending, and improving systems from which such services are rendered; (2) To pay the principal
of and the interest on all bonds issued and obligations assumed by the authority, that are
payable out of the revenues derived from operation of those systems, as the said principal
and interest become due and payable; (3) To create and maintain such reserve for the foregoing
purposes or any of them as may be provided in any mortgage and deed of trust or trust indenture
executed by the authority hereunder or in any resolutions of the board...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-49A-9.htm - 1K - Match Info - Similar pages
11-50-345
Section 11-50-345 Issuance of revenue bonds authorized; form, terms, denominations, etc.; execution,
sale, etc.; disposition of proceeds from sale of bonds; issuance of interim receipts or temporary
bonds. (a) Any board of water and sewer commissioners created under the provisions of this
article is hereby authorized by resolution, at one time or from time to time, to issue revenue
bonds of the board for the purpose of paying all or any part of the cost of any water system
or sewer system or any combination thereof and the cost of any improvements, extensions, and
additions and for the purpose of refunding any bonds or obligations assumed by the board in
connection with the acquisition of such system or systems or part thereof. The principal of
and the interest on such bonds shall be payable solely from the funds provided by this article
for such payment. The bonds of each issue shall be dated, shall bear interest at such rate
or rates not exceeding 10 percent per annum, shall mature...
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22-21-355
Section 22-21-355 Further provisions respecting investment of funds. In addition to the investment
powers granted by the enabling statute, any authority shall, to the extent permitted by the
contracts of such authority with the holders of its securities, have the further power to
invest any portion of the principal proceeds derived from the sale of any of its securities
not then needed for any of the purposes for which such securities were authorized to be issued,
any moneys held in any special fund created pursuant to any resolution or mortgage, mortgage
indenture, mortgage and trust indenture or trust indenture authorizing or securing any of
its securities, and any other moneys of such authority not then needed by it, in any of the
following: (1) Debt securities (whether general obligations or limited or special obligations)
of any state, territory or possession of the United States of America and of any political
subdivision of any such state, territory or possession, but if and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-355.htm - 3K - Match Info - Similar pages
22-3A-16
Section 22-3A-16 Appropriation made; Debt Service Reserve Fund established. (a) For the purpose
of providing funds to enable the authority to pay on their respective due dates the principal
of and the interest and premium (if any) on any bonds issued by it under the provisions of
this chapter and to accomplish the objects of this chapter, there is hereby irrevocably pledged
to such purpose and there is hereby appropriated so much as may be necessary for such purpose
of the receipts from the incremental and additional excise taxes or fees levied on the disposal
of hazardous waste or hazardous substances by the provisions of (i) the act resulting from
the enactment of House Bill 310 introduced at the 1990 Regular Session of the Alabama Legislature
(whether such bill is enacted before or after this chapter) or (ii) any other statute, now
or hereafter enacted, which appropriates or pledges such a tax or fee for the payment of the
principal of and the interest and premium (if any) on bonds...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-3A-16.htm - 2K - Match Info - Similar pages
41-10-628
Section 41-10-628 Disposition of proceeds of bonds. (a) The authority is authorized and empowered
to apply the proceeds of any bonds for any of the following purposes or uses: (1) For the
purposes for which the bonds were authorized to be issued. (2) To fund any reserve fund established
in connection with an authorized issue if the authority deems the establishment of such reserve
fund to be necessary and desirable. (3) To pay for the cost of obtaining credit enhancement
for the bonds. (4) To pay capitalized interest on the bonds. (5) To pay the costs of issuing
the bonds. (6) If refunding bonds are issued pursuant to this division, to pay debt service
on and the redemption price of any bonds to be refunded. (b) Pending the application of the
proceeds of bonds of the authority to the purpose or purposes for which the bonds were issued,
the proceeds and any monies held in funds created as security for the bonds may be invested
by the authority in permitted investments, as the authority...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-628.htm - 1K - Match Info - Similar pages
16-60-90
Section 16-60-90 Authorization to issue bonds. The authority may from time to time sell and
issue its bonds, not exceeding $15,000,000.00 in aggregate principal amount, for the purpose
of providing funds for the construction and equipment of trade schools and junior colleges,
including the improvement of sites therefor, the construction of buildings and the reconstruction,
improvement and alteration of existing buildings therefor and the acquisition, purchase and
installation of original equipment therefor. No part of the proceeds from the sale of the
bonds may be used to pay the cost of the acquisition, by purchase or otherwise, of real estate
to be used as a site for any such school or college or any building connected therewith or
the acquisition, by purchase or otherwise, of any existing building. (Acts 1963, 2nd Ex. Sess.,
No. 93, p. 259, §10.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-60-90.htm - 1K - Match Info - Similar pages
45-49A-64.08
Section 45-49A-64.08 Rates, fees, and charges. Rates, fees, and charges for public transportation
service rendered by the authority from any of its transit systems shall be fixed and from
time to time revised as at all times to provide funds that, when added to all other revenues
(including tax proceeds) anticipated to be received by the authority, will be at least sufficient
to do all of the following: (1) To pay the cost of operating, maintaining, repairing, replacing,
extending, and improving the systems from which such services are rendered. (2) To pay the
principal of and the interest on all bonds issued and obligations assumed by the authority,
that are payable out of the revenues derived from operation of those systems, as the principal
and interest become due and payable. (3) To create and maintain such reserve for the foregoing
purposes or any of them as may be provided in any mortgage and deed of trust or trust indenture
executed by the authority hereunder or in any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-49A-64.08.htm - 1K - Match Info - Similar pages
22-29-11
Section 22-29-11 Temporary financing. In anticipation of the issuance of bonds, the authority
may borrow such sums as may be needed, not exceeding $500,000.00 to be outstanding at any
one time, for any of the purposes enumerated in this chapter and to obligate itself by certificate
or promissory note, bearing interest at a rate or rates to be specified by the authority,
and maturing within 18 months from date. Such certificates or promissory notes shall be payable
solely from the proceeds of the bonds of the authority and from the funds from which such
bonds are payable. In the event that state funds are not available for a state grant for a
project when application is made, in order to accelerate the completion of any project, the
local public body may, with the approval of the authority, obligate such local public body
to provide local funds to pay that portion of the cost of the project which the state will
make available by grant, and the state shall refund the amount expended on...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-29-11.htm - 1K - Match Info - Similar pages
41-10-276
Section 41-10-276 Investment of proceeds from sale of bonds; disposition of investment income.
Any portion of the principal proceeds derived from the sale of the bonds which the board of
directors may determine is not then needed for any of the purposes for which the bonds are
authorized to be issued shall, on order of the authority, be invested by the State Treasurer
in permitted investments which mature at such time or times as the authority shall direct.
Any such investments may, at any time and from time to time on order of the authority, be
sold or otherwise converted by the State Treasurer into cash. The income derived from any
such investments shall be disbursed on order of the authority for any purpose for which it
may lawfully expend funds. (Acts 1986, No. 86-420, p. 627, §17.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-276.htm - 1K - Match Info - Similar pages
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