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16-17-16
Section 16-17-16 Earnings of authority. The authority shall be a nonprofit corporation, and
no part of its net earnings remaining after payment of its expenses shall inure to the benefit
of any individual, association or corporation; except, that in the event the board of directors
of the authority shall determine that sufficient provision has been made for the full payment
of the expenses, bonds and other obligations of the authority, then any net earnings thereafter
accruing shall be paid to the determining municipality or to an educational institution to
construct, operate or maintain ancillary improvements, as the board of directors may direct
by resolution. (Acts 1966, Ex. Sess., No. 222, p. 325, §16; Acts 1978, No. 841, p. 1258,
§1.)...
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16-18-18
Section 16-18-18 Earnings of authority. The authority shall be a nonprofit corporation, and
no part of its net earnings remaining after payment of its expenses shall inure to the benefit
of any individual, association or corporation, except, that in the event the board of directors
of the authority shall determine that sufficient provision has been made for the full payment
of the expenses, bonds and other obligations of the authority, then any net earnings thereafter
accruing shall be paid to the determining municipality. (Acts 1966, Ex. Sess., No. 221, p.
308, §18.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-18-18.htm - 882 bytes - Match Info - Similar pages
37-11A-1
Section 37-11A-1 Execution and text of compact. The Governor, on behalf of this state, shall
execute a compact, in substantially the following form, with the State of Mississippi, and
the Legislature approves and ratifies the compact in the form substantially as follows: Northeast
Mississippi - Northwest Alabama Railroad Authority Compact. The contracting states solemnly
agree: Article I. The purpose of this compact is to promote and develop trade, commerce, industry,
and employment opportunities for the public good and welfare in northeast Mississippi and
northwest Alabama through the establishment of a joint interstate authority to acquire certain
railroad properties and facilities which the operator thereof has notified the Interstate
Commerce Commission of an intention to abandon and which are located in any of Franklin, Marion,
or Winston Counties, Alabama or in Alcorn or Tishomingo Counties, Mississippi. Article II.
This compact shall become effective immediately as to the State...
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11-54-188
Section 11-54-188 Earnings of an authority. An authority shall be a nonprofit corporation and
no part of its net earnings remaining after payment of its expenses shall inure to the benefit
of any individual, firm, or corporation, except that in the event a board shall determine
that sufficient provision has been made for the full payment of the expenses, bonds, and other
obligations of an authority, then any net earnings of an authority thereafter accruing shall
be paid to its authorizing municipality. (Acts 1980, No. 80-648, p. 1235, §19.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54-188.htm - 854 bytes - Match Info - Similar pages
11-62-15
Section 11-62-15 Disposition of net earnings of authority. Every authority shall be a not-for-profit
public corporation and no part of its net earnings remaining after payment of its expenses
shall inure to the benefit of any private person, except that in the event the board of any
authority shall determine that sufficient provision has been made for the full payment of
the expenses, bonds, notes, and other obligations of such authority, then any net earnings
thereafter accruing shall be paid to the determining municipality. (Acts 1979, No. 79-332,
p. 506, §19.)...
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11-65-10
Section 11-65-10 Powers and duties of commission. When authorized by one or more elections
as provided in Section 11-65-4, a commission shall have the powers and duties necessary to
license, regulate, and supervise horse racing and pari-mutuel wagering thereon and greyhound
racing and pari-mutuel wagering thereon within the commission municipal jurisdiction, including,
without limiting the generality of the foregoing, the powers and duties hereinafter set forth
in this section or in other sections of this chapter. (1) A commission shall have succession
in perpetuity, subject only to the provisions of this chapter as it may be amended from time
to time. (2) A commission shall have the power to sue and be sued in its own name in civil
suits and actions and to defend suits against it. (3) A commission shall have the power to
adopt and make use of an official seal and to alter the same at pleasure. (4) A commission
shall have the power to adopt, alter, and repeal bylaws, regulations and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-65-10.htm - 26K - Match Info - Similar pages
11-50A-1
Section 11-50A-1 Definitions. As used in this chapter, the following words shall have the following
meanings unless the context clearly indicates otherwise: (1) AUTHORITY. Alabama Municipal
Electric Authority created pursuant to this chapter and any successor or successors thereto.
(2) BOARD. The board of directors of the authority. (3) BONDS. Any bonds issued by the authority
under the provisions of this chapter, including refunding bonds. (4) BOND ANTICIPATION NOTES.
Short term obligations issued by the authority in anticipation of the issuance of bonds. (5)
COSTS. All costs of acquisition, construction, reconstruction, improvement, equipment, alteration,
repair, or extension of any project; all costs of real and personal property required for
the purposes of any project, including any rights or undivided interest therein; all costs
of easements, franchises, water rights, fees, permits, approvals, licenses, and certificates,
and all costs of securing any permits, approvals, licenses,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50A-1.htm - 9K - Match Info - Similar pages
11-101A-23
Section 11-101A-23 Public corporation. An authority shall be a public corporation or authority
and no part of its net earnings remaining after payment of its expenses shall inure to the
benefit of any individual, firm, or corporation, except that in the event the board shall
determine that sufficient provision has been made for the full payment of the expenses, securities,
and other obligations of the authority, then any portion, as determined by the board, of the
net earnings of the authority thereafter accruing may, in the discretion of the board, be
paid to one or more of its authorizing subdivisions. (Act 2001-642, p. 1317, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-101A-23.htm - 949 bytes - Match Info - Similar pages
11-47-232
Section 11-47-232 Authority as nonprofit corporation. An authority shall be a nonprofit corporation
and no part of its net earnings remaining after payment of its expenses shall inure to the
benefit of any individual, firm, or corporation, except that in the event a board shall determine
that sufficient provision has been made for the full payment of the expenses, bonds, and other
obligations of an authority, then any portion, as determined by the board, of the net earnings
of an authority thereafter accruing may, in the discretion of the board, be paid to one or
more of its authorizing subdivisions. (Acts 1996, No. 96-320, p. 361, §14.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-47-232.htm - 954 bytes - Match Info - Similar pages
11-54A-19
Section 11-54A-19 Earnings of authority. The authority shall be a nonprofit corporation and
no part of its net earnings remaining after payment of its expenses shall inure to the benefit
of any individual, firm, or corporation, except that in the event a board shall determine
that sufficient provision has been made for the full payment of the expenses, bonds, and other
obligations of the authority, then any net earnings of the authority thereafter accruing shall
be paid to the city. (Acts 1985, No. 85-683, p. 1080, §19.)...
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