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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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41-14A-9
Section 41-14A-9 Procedures for payment of losses. (a) When the State Treasurer becomes aware
that a default or insolvency has occurred, the State Treasurer shall provide notice as required
in subsection (b) and implement the following procedures: (1) The State Treasurer shall obtain
information from the Superintendent of Banks of the State Banking Department or the receiver
of the qualified public depository in default in order to ascertain the amount of funds of
each public depositor on deposit at such depository and the amount of deposit insurance applicable
to such deposits. (2) The potential loss to public depositors shall be calculated by compiling
claims received from public depositors. The State Treasurer shall validate claims of public
depositors who filed claims under subsection (b) and which have been confirmed under subdivision
(1). (3) The loss to public depositors shall be satisfied, insofar as possible, first through
any applicable deposit insurance and then through the...
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41-23-50
Section 41-23-50 Creation of economic development revolving loan funds; regional planning and
development commissions to disburse moneys; administration; use of funds; interest and costs.
There is hereby appropriated from the State General Fund to the Alabama Department of Economic
and Community Affairs for the 1990-91 fiscal year the sum of $500,000 to be used to create
and establish throughout this state several economic development revolving loan funds from
which the several existing regional planning and development commissions, as defined in Articles
4 and 5 of Chapter 85 of Title 11, may disperse moneys, from time to time, to finance local
economic development projects. These funds shall be distributed by the Department of Economic
and Community Affairs to qualifying regional planning commissions for disbursement. The Department
of Economic and Community Affairs shall establish such policies and procedures as may be deemed
necessary as to insure accountability of funds in...
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11-54-131
Section 11-54-131 Investment of moneys; duties of fund manager. (a) Moneys held in and forming
a part of an endowment trust fund, including, without limitation, proceeds of investments
held in and forming a part of the fund, shall, to the extent practicable and feasible, be
kept fully and continuously invested, pending their distribution and expenditure for the purposes
authorized by this division, in any of the following: (1) Interest-bearing bank time deposits
and interest-bearing bank certificates of deposit. (2) Debt securities that are direct general
obligations of the United States of America or any agency thereof, and debt securities of
any state or local government. (3) Other debt securities, common and preferred stocks, shares
of investment companies or mutual funds, or other like investments. (b) All of the above as
may be authorized in the trust agreement under which such fund has been established, and all
with the care, skill, prudence, and diligence under the circumstances...
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16-16-14
Section 16-16-14 Use of bond proceeds for loans to local boards of education. The proceeds
derived from the sale of any bonds issued pursuant to subsection (b) of Section 3 of Act 98-373
shall be deposited in the State Treasury and shall be carried in a separate fund therein for
the account of the authority, which shall pay therefrom the expenses of issuance thereof.
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 permitted investments which mature
at such time or times as the authority shall direct. Monies in the fund (whether original
proceeds from the sale of the bonds or principal proceeds of matured permitted investments)
shall be available for loan by the authority. The authority is hereby authorized to loan,
and each local board of education is hereby authorized to borrow, such monies under...
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36-17-8
Section 36-17-8 Procedure for drawing money for payment of interest. (a) Not less than 15 nor
more than 30 days before the due date of principal and interest on each of the respective
issues of bonded indebtedness, the Treasurer must certify to the Comptroller the amount of
money needed to pay the principal and interest falling due on that date, and for any expenses
necessarily incurred by the fiscal agent in the discharge of its duties. The Comptroller shall
draw his warrant on the treasury in favor of the Treasurer for such amount to be paid out
of any fund appropriated for the payment of principal and interest and expenses. (b) Not more
than 15 business days before the actual due date of principal and interest, the Treasurer
shall remit to the fiscal agent, by wire transfer or draft, the total amount of principal,
interest, and expenses of the fiscal agent, due on said bond. (c) For the purpose of paying
principal and interest on any issues of funded indebtedness, the Treasurer with...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-17-8.htm - 2K - Match Info - Similar pages
40-20-50
Section 40-20-50 Collection of severance taxes; deposit into fund; distribution of investment
income; trustees; escrow agents; limitations. Any laws or parts of laws to the contrary notwithstanding,
any annual privilege tax levied upon persons engaging in the business of producing or severing
oil or gas or other hydrocarbons from the soil or waters of this state measured by the gross
value of such oil or gas or other hydrocarbons and which tax is applicable only in a particular
county and under which collections were being made on January 1, 1987, or which shall hereafter
be levied pursuant to legislative act, shall be continued and collected only as herein prescribed:
(1) All revenues collected from such local severance taxes shall, beginning the first day
of the month following August 3, 1987, be paid into the general fund of the county exclusively
for transfer and deposit into a trust fund hereby established until the total sum of $15,000,000
in severance tax revenues of the type...
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41-10-656
Section 41-10-656 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 Division 1. Monies in such fund, whether
original proceeds from the sale of the bonds or principal proceeds of matured investments,
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 41-10-654 that may
be deemed by the authority to be necessary to comply with any and all commitments made by
the state to the company. (b) Notwithstanding subsection (a), the authority...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-656.htm - 1K - Match Info - Similar pages
11-48-52
Section 11-48-52 Proceedings for sale of land upon failure of owner to pay assessment, installment
or interest - Execution, etc., of deed to purchaser at sale; disposition of surplus from sale;
purchase of property by municipality. The officer making such sale shall execute a deed to
the purchaser, which shall convey all the right, title, and interest which the party against
whose property the assessment was made had or held in said property at the date of making
such assessment or on the date of making such sale. Any surplus arising from said sale shall
be paid to the city or town treasurer to be kept as a separate fund by the treasurer for the
owner upon the responsibility of his official bond. The council may, by its agents, purchase
real estate sold as provided under this article and, in the event of such purchase, the deed
for the same shall be made to the town or city. (Code 1907, §1405; Code 1923, §2220; Acts
1927, No. 639, p. 753; Code 1940, T. 37, §561.)...
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11-50-93
Section 11-50-93 Proceedings for sale of land upon failure of property owner to pay assessment,
installment, or interest - Execution, etc., of deed to purchaser at sale; disposition of surplus
from sale; purchase of property by municipality. The officer making such sale shall execute
a deed to the purchaser, which shall convey all the right, title, and interest which the party
against whose property the assessment was made had or held in said property at the date of
making such assessment or on the date of making such sale. Any surplus arising from such sale
shall be paid into the city or town treasury, to be kept as a separate fund by the treasurer
for the owner upon the responsibility of his official bond. The council may, by its agent,
purchase real estate sold as provided under this division, and, in the event of such purchase,
the deed for the same shall be made to the city or town. (Acts 1923, No. 165, p. 134; Code
1923, §2106; Code 1940, T. 37, §631.)...
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