16-17A-18
Section 16-17A-18 Legislative findings. In support of and in furtherance of the powers granted
in Section 16-17A-8, the Legislature hereby finds and declares all of the following: (1) Authorities
organized under this chapter and its university affiliates are performing essential public
functions on behalf of the state, the sponsoring university, and other governmental entities
in the state. (2) The nature and scope of the powers conferred on authorities and their university
affiliates by this chapter are such as may compel each authority and each university affiliate,
in the course of exercising its powers or by virtue of such exercise of such powers, to engage
in activities itself or in collaboration with public or private entities and individuals that
may be characterized as anticompetitive or may result in the acquisition or maintenance of
monopoly power within the meaning of state and federal antitrust laws or otherwise may have
the effect of displacing competition in the provision...
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41-10-61
Section 41-10-61 Exemption from taxation of bonds, properties, income, etc., of authority;
use of bonds as security for deposits of state funds; investment of trust funds in bonds.
(a) The properties of the authority and the income therefrom and all lease agreements made
by the authority and income therefrom shall be forever exempt from any and all taxation in
the State of Alabama. The bonds of the authority and the income therefrom shall be forever
exempt from any and all taxation in the State of Alabama. (b) Any of the bonds may be used
by the holder thereof as security for the deposit of any funds belonging to the state or to
any instrumentality or agency of the state in any instance where security for such deposits
may be required by law. (c) Unless otherwise directed by the court having jurisdiction thereof
or by the document that is the source of authority, a trustee, executor, administrator, guardian
or one acting in any other fiduciary capacity may, in addition to any other...
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14-2-32
Section 14-2-32 Exemption from taxation. The properties of the authority and the income therefrom,
all lease agreements made by the authority and all bonds issued by the authority, the coupons
applicable thereto, the income therefrom and all lien notices with respect thereto shall be
forever exempt from any and all taxation in the State of Alabama. (Acts 1965, No. 678, p.
1226, §16.)...
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16-17A-12
Section 16-17A-12 Obligations of authority. (a) All agreements and covenants undertaken, and
all indebtedness issued, by an authority shall be solely and exclusively an obligation of
the authority and, except as otherwise provided in a written agreement in accordance with
Section 16-17A-17, shall not create an obligation or debt of the state, any university, or
any other governmental entity or public corporation within the meaning of any constitutional
or statutory provision. (b) Neither the directors nor any officer of an authority executing
indebtedness issued pursuant to this chapter shall be personally liable for such indebtedness
by reason of the execution or issuance thereof. (c) The state and the sponsoring university
do hereby pledge to and agree with the holders of any indebtedness issued under this chapter
that neither the state nor the sponsoring university will limit or alter the rights hereby
vested in the authority to fulfill the terms of any indebtedness or related...
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41-10-279
Section 41-10-279 Exemption from taxation. The properties of the authority and the income therefrom,
all lease agreements made by the authority, all bonds issued by the authority and the income
therefrom and all lien notices, mortgages, assignments and financing statements filed with
respect thereto shall be forever exempt from any and all taxation in the state. (Acts 1986,
No. 86-420, p. 627, §20.)...
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41-10-327
Section 41-10-327 Exemption from taxation. The properties of the authority and the income therefrom,
all lease agreements made by the authority and all bonds and promissory notes issued by the
authority, the interest thereon, the coupons, if any, applicable thereto, the income therefrom
and all lien notices with respect thereto, and all purchases and uses of property by the authority
shall be forever exempt from any and all taxation in the state or in any county, municipality
or political subdivision thereof. (Acts 1986, No. 86-546, p. 1093, §28.)...
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41-10-362
Section 41-10-362 Exemption from taxation of bonds and income of authority; use of bonds as
security for deposits of state funds; investment of trust funds in bonds. The bonds and the
income therefrom shall be exempt from all taxation in the state. Any of the bonds may be used
by the holder thereof as security for the deposit of any funds belonging to the state or to
any instrumentality or agency of the state in any instance where security for such deposits
may be required by law. Unless otherwise directed by the court having jurisdiction thereof,
or by the document that is the source of authority, a trustee, executor, administrator, guardian,
or one acting in any other fiduciary capacity may, in addition to any other investment powers
conferred by law and with the exercise of reasonable business prudence, invest trust funds
in any of the bonds. (Acts 1988, No. 88-475, p. 739, §13.)...
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41-10-429
Section 41-10-429 Properties, etc., forever exempt from any and all taxation. The properties
of the authority and the income therefrom, all lease agreements made by the authority and
all lien notices, mortgages, assignments and financing statements filed with respect thereto
shall be forever exempt from any and all taxation of the State of Alabama and its political
subdivisions. (Acts 1990, No. 90-293, p. 396, §10.)...
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41-10-464
Section 41-10-464 Exemption from taxation. The properties of the authority and the income therefrom,
all lease agreements made by the authority, and all bonds issued by the authority and the
income therefrom and all lien notices filed with respect thereto shall be forever exempt from
any and all taxation in the State of Alabama. (Acts 1990, No. 90-602, p. 1079, §15.)...
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41-10-517
Section 41-10-517 Exemption from taxation. The properties of the authority and the income therefrom,
all lease agreements made by the authority and all bonds and promissory notes issued by the
authority, the interest thereon, the coupons, if any, applicable thereto, the income therefrom
and all lien notices with respect thereto, and all purchases and use of property by the authority
shall be forever exempt from any and all taxation in the state or in any county, municipality
or political subdivision thereof. (Acts 1990, No. 90-603, p. 1094, §28.)...
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