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16-65-6
Section 16-65-6 Bonds generally. (a) Issuance of bonds. The authority is authorized and empowered
to issue its bonds from time to time for the purpose of making equipment loans to finance
equipment costs incurred or to be incurred by educational institutions. Such bonds may be
in such aggregate principal amount as the board of directors shall determine to be necessary
to pay the equipment costs included in such financing. The authority may pay from the proceeds
of the sale of its bonds all expenses, including publication and printing charges, attorneys'
fees, financial advisory fees, and other expenses which the board of directors may deem necessary
or advantageous in connection with the authorization, advertisement, sale, execution, and
issuance of its bonds or the making of equipment loans from the proceeds thereof. (b) Source
of payment. All bonds issued by the authority shall be limited obligations of the authority
payable solely from any combination of the following: (1) The...
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41-10-652
Section 41-10-652 Definitions. When used in this division, the following terms shall have the
following meanings unless the context clearly indicates otherwise: (1) ANCILLARY COSTS shall
mean the costs incurred in acquiring and constructing public improvements that benefit all
or any part of the project including, without limitation, (i) improvements to streets, roads
and bridges, (ii) improvements to water and sewer systems, gas and electric systems, and other
utilities providing services to any part of the project, (iii) improvements to the police,
fire, and emergency rescue services provided to the company by local governmental entities,
and (iv) improvements to transportation systems benefiting the company, such as railroad spur
and switching facilities. (2) AUTHORITY shall mean the Alabama 21st Century Authority, which
is provided for pursuant to Division 1. (3) BONDS shall mean the bonds that are authorized
herein to be issued by the authority. (4) COMPANY shall mean an...
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41-10-672
Section 41-10-672 Definitions. When used in this division, the following terms shall have the
following meanings unless the context clearly indicates otherwise: (1) ANCILLARY COSTS shall
mean the costs incurred in acquiring and constructing public improvements that benefit all
or any part of the projects including, without limitation, (i) improvements to streets, roads,
and bridges, (ii) improvements to water and sewer systems, gas and electric systems, and other
utilities providing services to any part of the projects, (iii) improvements to the police,
fire, and emergency rescue services provided to the companies by local governmental entities,
and (iv) improvements to transportation systems benefiting the companies, such as railroad
spur and switching facilities. (2) AUTHORITY shall mean the Alabama 21st Century Authority,
which is provided for pursuant to the Enabling Act. (3) BOEING shall mean the Boeing Company,
a corporation, or any affiliate thereof. (4) BONDS shall mean the...
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16-18A-4
Section 16-18A-4 Powers and duties. The purpose of the authority shall be to assist institutions
for higher education in the construction, financing and refinancing of the projects. The exercise
by the authority of the powers conferred by this chapter shall be deemed and held to be the
performance of an essential public function. For the purpose of this chapter, the authority
shall have the powers and duties set forth in this section. (1) To adopt an official seal
and alter the same at its pleasure. (2) To sue and be sued in contract and in tort and to
complain and defend in all courts of law and equity. (3) To maintain an office at such place
or places as it may designate. (4) To determine the location and character of any project
financed under this chapter, to acquire, construct, reconstruct, remodel, maintain, manage,
enlarge, alter, add to, repair, operate, lease as lessee or lessor, sell or otherwise dispose
of, any project in any manner it deems to the best advantage of the...
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40-9B-4
Section 40-9B-4 Authorization of abatement. (a) Noneducational ad valorem taxes, construction
related transaction taxes, except those local construction related transaction taxes levied
for educational purposes or for capital improvements for education, and mortgage and recording
taxes, or payments required to be made in lieu thereof, and in the case of a qualifying industrial
or research enterprise described in Section 40-9B-3(a)(10)e. which is owned by an entity organized
under Chapter 6 of Title 37, or by an authority both organized and existing pursuant to Chapter
50A of Title 11, and subject to the payments required to be made in lieu of ad valorem, sales,
use, license, and severance taxes imposed by Section 11-50A-7, in addition to the foregoing,
all other ad valorem taxes, or payments required to be made in lieu thereof, imposed by the
state, counties, municipalities, and other taxing jurisdictions of Alabama, may be abated
with respect to private use industrial property and...
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9-6-13
Section 9-6-13 Aid and cooperation of political subdivisions, agencies or other instrumentalities
of state. For the purpose of effecting the control, abatement or prevention of water, air
or general environmental pollution or of aiding or cooperating with the authority in the planning,
development, undertaking, construction, extension, improvement, operation or protection of
equipment, facilities, apparatus and systems, the purpose of which is to control, abate or
prevent any such pollution, any county, municipality or other political subdivision, public
corporation, agency or instrumentality of this state may, upon such terms and with or without
consideration, as it may determine: (1) Lend or donate money to or perform services for the
benefit of the authority; (2) Donate, sell, convey, transfer, lease or grant to the authority,
without the necessity of authorization at any election of qualified voters, any property of
any kind, any interest therein and any franchise; and (3) Do any...
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16-17-19
Section 16-17-19 Dissolution of authority and vesting of title to its properties. At any time
when the authority does not have any bonds outstanding and when there shall be no obligations
assumed by the authority that are then outstanding, the board may adopt a resolution, which
shall be duly entered upon its minutes, declaring that the authority shall be dissolved. Upon
the filing for record of a certified copy of said resolution in the office of the judge of
probate of the county in which the authority's original certificate of incorporation was filed,
the authority shall thereupon stand dissolved, and in the event it owned any property at the
time of its dissolution, the title to all its property shall thereupon vest in the determining
municipality. In the event the authority shall at any time have outstanding bonds issued hereunder
payable out of the revenues from various ancillary improvements, then, as and when the principal
of and the interest on all bonds payable, in whole or...
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2-3A-34
Section 2-3A-34 Expenses; disposition of proceeds. Upon order of the board of directors of
said authority, all expenses incurred in connection with the authorization, preparation, sale,
and issuance of bonds authorized herein and by Amendment 618 shall be paid out of the proceeds
thereof. The proceeds thereof remaining after payment of such expenses, together with the
income derived from the investment and reinvestment of such proceeds (including income derived
from the investment and reinvestment of previously derived income) shall be disbursed from
time to time on the order of said authority for payment of costs incurred in carrying out
the purposes authorized in said amendment, as follows: (1) the sum of $13,000,000 shall be
used for providing and improving animal diagnostic laboratories in the state in order to provide
improved animal health testing for livestock and poultry producers, veterinarians, animal
owners and animal-related businesses generally; (2) the sum of $18,200,000...
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2-3A-54
Section 2-3A-54 Expenses; disposition of proceeds. Upon order of the board of directors of
said authority, all expenses incurred in connection with the authorization, preparation, sale,
and issuance of bonds authorized herein and by Amendment 619 shall be paid out of the proceeds
thereof. The proceeds thereof remaining after payment of such expenses, together with the
income derived from the investment and reinvestment of such proceeds (including income derived
from the investment and reinvestment of previously derived income) shall be disbursed from
time to time on the order of said authority for payment of costs incurred in carrying out
the purposes authorized in said amendment, as follows: The sum of five million seven hundred
thousand dollars ($5,700,000) shall be used for the purpose of providing and the equipping
of a center for cotton, cotton products technology, and for its use as an educational, applied
research, and promotional facility in the field of textile and apparel...
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16-65-7
Section 16-65-7 Proceeds from the sale of bonds, revenues, and other funds. (a) After making
adequate provision for the payment of the expenses of issuance, the authority is authorized
and empowered to use the proceeds of any bonds, together with any other available funds (1)
to finance equipment costs through equipment loans to educational institutions as herein authorized;
(2) to fund such reserves as the authority deems necessary and desirable; and (3) to the extent
not needed for the foregoing uses, to pay or redeem such bonds. (b) Pending the application
of the proceeds of bonds to the purpose or purposes of which such bonds were issued, such
proceeds may be invested by the authority in such manner consistent with the resolution pursuant
to which such bonds are issued, as the board of directors may deem advisable. (c) Any and
all revenues, receipts, investment earnings, and other funds paid to, or otherwise coming
into the possession of, the authority as the result of financings...
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