16-54-16
Section 16-54-16 Lease or disposal of lands, including lands received by federal grant; proceeds
to be paid into restricted endowment. The lands now owned by the University of Montevallo
or granted by the United States or by the Congress of the United States to the State of Alabama
for the use of this institution, shall be leased, sold, conveyed or disposed of only by the
board of trustees; provided, that the board of trustees may delegate to its executive committee
of three or more of its members the right and power to lease or sell any of said lands, and
when any lease or sale shall have been made as herein provided, the Governor, upon request
of the board of trustees, or its executive committee, as the case may be, shall execute contracts
of lease or deeds of conveyance as may have been agreed on between the board or its executive
committee and the lessee or purchaser. All the proceeds arising from the sale, rental or lease
of federally granted lands, or any of the rights thereunto...
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16-54-17
Section 16-54-17 Disposition of proceeds and income from sale or lease of nonfederally granted
lands. Unless otherwise restricted, the proceeds of all nonfederally granted lands sold or
leased by the University of Montevallo, or income therefrom, shall be paid to the University
of Montevallo and budgeted and expended by the board of trustees for the benefit of the university.
The university, out of the money appropriated by the state Legislature for its maintenance,
shall pay all the expenses of caring for, protecting, and selling the lands. (School Code
1927, §517; Code 1940, T. 52, §472; Acts 1979, No. 79-225, p. 342, §1; Acts 1980, No. 80-570,
p. 882, §1; Act 2012-511, p. 1527, §1.)...
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16-54-18
Section 16-54-18 Fund previously generated by proceeds from lands dedicated to university to
be deposited in Restricted Endowment Fund; provisions for payment of remaining principal over
five-year-period; interest to be paid. On May 19, 1980, the Treasurer of the state shall pay
to the Treasurer of the University of Montevallo the whole amount of the fund in the Treasury
generated by proceeds from both federally granted and other lands dedicated to the benefit
of the University of Montevallo. These funds shall be deposited into the University of Montevallo
Restricted Endowment Fund. On October 1, 1996, and on October 1 of each of the next four fiscal
years, the State Treasurer shall pay to the Treasurer of the University of Montevallo one-fifth
of the remaining principal sum of proceeds not heretofore transferred, which were derived
and generated from the sales of federal lands granted by the United States Congress to the
State of Alabama for the express support of the University of...
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16-47-35
Section 16-47-35 Authority of trustees to dispose of property. The Board of Trustees of the
University of Alabama may sell, lease or otherwise dispose of, all or any part of such land
as has been or may be selected under and by virtue of an act of Congress entitled, "An
act to increase the endowment of the University of Alabama from the public school lands in
said state," approved April 23, 1884, and may sell lands or any interest therein or part
thereof for such prices and upon such terms as to it may seem proper. Such sales may be for
cash or for part cash, and the said Board of Trustees of the University of Alabama shall not
be limited by any statute heretofore enacted as to what part of the purchase price of such
lands which it has heretofore sold or may hereafter sell shall be in cash, but the percent
of the purchase price of such lands that may have been or shall be in cash shall be such as
said Board of Trustees of the University of Alabama may agree upon with the purchaser or...

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16-47-37
Section 16-47-37 Executive committee of trustees. The Board of Trustees of the University of
Alabama may create an executive committee consisting of three or more of the trustees composing
the said board upon which committee it may confer full power and authority to lease, sell
and convey such lands or any part thereof, or any interest therein, as fully as said Board
of Trustees of the University of Alabama could itself do. (School Code 1927, §561; Code 1940,
T. 52, §502.)...
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16-26A-4
Section 16-26A-4 Board of directors generally. (a) There is hereby created a board of directors
for the school, sometimes hereinafter referred to as the "board." The board shall
be composed of 21 members as follows: (1) The State Department of Education assistant state
superintendent in charge of curriculum development, or his or her designee. (2) The Chancellor
of the University of Alabama System, or his or her designee. (3) The President of Auburn University,
or his or her designee. (4) The President of the University of South Alabama, or his or her
designee. (5) The President of Alabama A&M University, or his or her designee. (6) The
Chair of the Alabama High School of Mathematics and Science Foundation. (7) The Chair of the
House Standing Committee on Education, or his or her designee. (8) The Chair of the Senate
Standing Committee on Education, or his or her designee. (9) The Chair of the House Standing
Committee on Ways and Means Education, or his or her designee. (10) The Chair...
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16-54-15
Section 16-54-15 Condemnation of lands or interests therein. Whenever the University of Montevallo
needs any land or interest therein near the university for its purposes, and the owner thereof
is a minor or an insane person, or refuses to sell the land to the state for the use of the
university, or will not agree with the board of trustees or the president on a price therefor,
the trustees shall have authority to institute in the probate court of Shelby County proceedings
in the name of the State of Alabama, to condemn such land, which proceedings shall be conducted
as nearly as may be possible in accordance with the provisions of Chapter 1 of Title 18. It
shall be the duty of the trustees to pay out of the funds of the university all costs of every
condemnation proceeding instituted by them under the power hereby conferred. (School Code
1927, §514; Code 1940, T. 52, §470; Acts 1979, No. 79-225, p. 342, §1.)...
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41-9-326
Section 41-9-326 Acquisition of property; borrowing of money and issuance of revenue bonds.
(a) The commission is authorized to take possession under a lease or a deed of the land and
other property in the County of Tuscaloosa, known as "old Tannehill Furnace," which
is now owned by the University of Alabama, and the Board of Trustees of the University of
Alabama is hereby authorized, in its discretion, to lease or to deed in fee simple such lands
and appurtenances thereto to the commission. Such board of trustees may also sell, give or
lend any other relics of old-style iron making or other items appropriate for display along
with or as a part of a display or exhibit of iron making. The commission is further authorized
to lease, accept as a gift or loan or otherwise acquire any other property, real or personal,
including gifts or bequests of money or other things of value to be used in fulfilling the
purpose for which it is established or for any auxiliary purpose incidental or...
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16-53-2
Section 16-53-2 Corporate powers. Such corporation shall have all the rights, privileges, and
franchises necessary to the promotion of the ends of its creation, and shall be charged with
all corresponding duties, liabilities, and responsibilities. Such corporation may hold and
may lease, sell, or, in any other manner not inconsistent with the object or terms of the
grant or grants under which it holds, dispose of any property, real or personal, or any estate
or interest therein remaining, of any grant by any governmental unit or by any person, or
accruing to the corporation from any source, as it may deem best for the purposes of the university.
The president with the approval of the board shall be authorized to execute any lease, deed,
or other instrument of conveyance on behalf of the corporation, without additional approval.
The board of trustees shall have the exclusive authority over and jurisdiction of land, buildings,
and other capital improvements now existing on or hereinafter...
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16-47A-5
Section 16-47A-5 Board of Trustees - Powers and duties. (a) The board shall have all the rights,
privileges, and franchises necessary to the promotion of the ends of its creation, and shall
be charged with all corresponding duties, liabilities, and responsibilities. The board may
hold and may lease, sell, or, in any other manner not inconsistent with the object or terms
of the grant or grants under which it holds, dispose of any property, real or personal, or
any estate or interest therein remaining, of any grant by any governmental unit or by any
person, or accruing to the corporation from any source, as the board may deem best for the
purposes of the university. The president of the university, with the approval of the board,
may execute any lease, deed, or other instrument of conveyance on behalf of the corporation,
without additional approval. (b) The board shall have the exclusive authority over and jurisdiction
of land, buildings, and other capital improvements now existing on or...
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