16-16B-11
Section 16-16B-11 (Implementation Conditioned on Separate Legislative Enactment.) Tax exemption.
The Authority shall have the power to make such payments to the United States of America as
the board of directors of the Authority deems necessary to cause the interest on any bonds
of the Authority, including the Bonds, to be and remain exempt from, or excludible from gross
income for purposes of, federal income taxation. The Authority shall have the power to make
such agreements respecting the investment of funds of the Authority as the Authority shall
deem necessary in order that the interest income on bonds of the Authority be and remain exempt
from, or excludible from gross income for purposes of, federal income taxation. (Act 2012-560,
p. 1645, §11.)...
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16-16A-7
Section 16-16A-7 Additional findings; bonds authorized; procedures. (a) The Legislature finds
that the number of students attending the several school systems located in those areas of
North Alabama that will be directly impacted by the 2005 BRAC and Subsequent BRAC Actions
will collectively increase by an estimated 9,000 students. As a result, there will be a need
for the construction of additional school facilities as well as the renovation of existing
school facilities. The Legislature also finds that the 2005 BRAC and Subsequent BRAC Actions
will have a positive impact on future receipts to the Education Trust Fund, as the significant
population growth in North Alabama will increase sales, income, and other tax collections.
Thus, it is an efficient use of state funds to allow such revenue growth to help pay for capital
improvement costs associated with BRAC-related school construction. (b) The Alabama Public
School and College Authority is hereby authorized to sell and issue its...
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33-12-5
Section 33-12-5 Powers, duties and functions. The powers, duties and functions of the agency
shall be as follows: (1) GENERALLY. The agency a. Shall have perpetual succession in its corporate
name. b. May sue and be sued in its corporate name. c. May adopt, use and alter a corporate
seal, which shall be judicially noticed. d. May enter into such contracts and cooperative
agreements with the federal, state and local governments, with agencies of such governments,
with private individuals, corporations, associations, trusts and other organizations as the
board may deem necessary or convenient to enable it to carry out the purposes of this chapter,
including the planned, orderly residential development of the area. e. May adopt, amend and
repeal bylaws. f. May appoint such managers, officers, employees, attorneys and agents as
the board deems necessary for the transaction of its business, fix their compensation, define
their duties, require bonds of such of them as the board may...
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41-10-520
Section 41-10-520 Interest on bonds exempt from federal income tax. The authority shall have
the power to make such payments to the United States of America as the directors deem necessary
to cause the interest on any bonds of the authority to be and remain exempt from federal income
taxation. The authority shall have the power to make agreements respecting the investment
of funds of the authority necessary in order that the interest income on bonds of the authority
be and remain exempt from federal income taxation. (Acts 1990, No. 90-603, p. 1094, §31.)...

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41-10-371
Section 41-10-371 Power of authority to pay and make agreements with the United States to exempt
interest of bonds from federal income tax. The authority shall have the power to make such
payments to the United States as the directors deem necessary to cause the interest on any
bonds of the authority to be and remain exempt from federal income taxation. The authority
shall have the power to make agreements respecting the investment of funds of the authority
necessary in order that the interest income on bonds of the authority be and remain exempt
from federal income taxation. (Acts 1988, No. 88-475, p. 739, §22.)...
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22-3A-24
Section 22-3A-24 Payments and investment agreements to ensure federal tax exemption. The authority
shall have the power to make such payments to the United States of America as the directors
deem necessary to cause the interest on any bonds of the authority to be and remain exempt
from federal income taxation. The authority shall have the power to make agreements respecting
the investment of funds of the authority necessary in order that the interest income on bonds
of the authority be and remain exempt from federal income taxation. (Acts 1990, No. 90-598,
§24.)...
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41-10-476
Section 41-10-476 Power to make payments and to make agreements respecting investment of funds.
The authority shall have the power to make such payments to the United States of America as
the directors deem necessary to cause the interest on any bonds of the authority to be and
remain exempt from federal income taxation. The authority shall have the power to make agreements
respecting the investment of funds of the authority necessary in order that the interest income
on bonds of the authority be and remain exempt from federal income taxation. (Acts 1990, No.
90-602, p. 1079, §27.)...
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41-10-676
Section 41-10-676 Use of bond proceeds. (a) The proceeds derived from the sale of the bonds
shall be deposited in the State Treasury and shall be carried in a separate fund therein for
the account of the authority. The proceeds from the sale of the bonds remaining after payment
of the expenses of issuance thereof shall be retained in such fund and, until they are paid
out, shall be invested by the State Treasurer at the direction of the authority, in investments
that constitute permitted investments, as defined in the Enabling Act. Monies in such fund,
whether original proceeds from the sale of the bonds or earnings on such proceeds, shall be
paid out from time to time in orders or warrants issued by or on the direction of the authority
for any one or more of the purposes specified in Section 41-10-674 that may be deemed by the
authority to be necessary to comply with any and all commitments made by the state to any
company. (b) Notwithstanding subsection (a), the authority may use...
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41-10-458.1
Section 41-10-458.1 Definitions; additional authorization. (a) Definitions. The following terms,
whenever used in Act 98-245, shall have the following respective meanings unless the context
clearly indicates otherwise: (1) "Authority" means Alabama Building Renovation Finance
Authority established pursuant to the 1990 Act. (2) "Bonds" (except where that word
is used with reference to bonds issued under another act) means those bonds authorized to
be issued pursuant to the authorization contained in Act 98-245. (3) "1990 Act"
means Act No. 90-602 enacted at the 1990 Regular Session of the Legislature of Alabama, codified
as Article 14 of Chapter 10 of Title 41. (b) In addition to those bonds authorized to be issued
by the authority pursuant to the 1990 Act, the authority is hereby authorized to sell and
issue its bonds in the aggregate principal amount of twelve million dollars ($12,000,000)
for the purpose of constructing and equipping a new west wing for the Alabama Memorial Building,...

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22-23B-6
Section 22-23B-6 Alabama Drinking Water Finance Authority - Powers. (a) The authority shall
have the following powers, among others specified by or required to implement the provisions
of this chapter: To have succession in its corporate name until the principal of and interest
on all bonds issued by it shall have been fully paid; To sue and be sued and to prosecute
and defend, at law and in equity, in any court having jurisdiction of the subject matter and
of the parties thereto; To have and to use a corporate seal and to alter such seal at pleasure;
To establish a fiscal year; To acquire in any manner and to hold title to or leasehold interests
in real and personal property and to sell, convey or lease the same for purpose of carrying
out its functions and duties hereunder; To construct and operate or lease to or from any public
body any one or more projects; To execute agreements obligating the authority to agree to
pay and to pay such portion of the estimated reasonable cost of the...
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