16-65-2
Section 16-65-2 Legislative intent. (a) It is the intent of the Legislature by passage of this
chapter to enable the state, acting by and through the authority, to aid educational institutions
in the financing of capital equipment on a tax-exempt basis. To this end, the Legislature
intends to authorize the authority to issue bonds for the purpose of providing funds to enable
the authority to make equipment loans to educational institutions to pay equipment costs;
and to provide that educational institutions shall secure the payment of such equipment loans
out of a dedicated source of revenue not appropriated by the state. (b) This chapter shall
be liberally construed in conformity with the intentions of the Legislature expressed above.
(Acts 1997, No. 97-388, p. 632, §2.)...
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16-17-2
Section 16-17-2 Legislative intent. It is the purpose of the Legislature by this chapter to
authorize the incorporation of educational building authorities as public corporations and
as political subdivisions of the state for the purpose of providing ancillary improvements
for use in connection with educational institutions in this state, and to invest each authority
organized hereunder with all power that may be necessary or appropriate to enable it to accomplish
such purpose, including but without limitation to the power to lease its properties and to
issue interest-bearing revenue bonds. This chapter shall be liberally construed in conformity
with the said intent. (Acts 1966, Ex. Sess., No. 222, p. 325, §2.)...
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16-18-2
Section 16-18-2 Legislative intent. It is the purpose of the Legislature by this chapter to
authorize the incorporation of educational building authorities as public corporations and
as political subdivisions of the state for the purpose of providing ancillary improvements
for use in connection with educational institutions in this state and to invest each authority
organized hereunder with all power that may be necessary or appropriate to enable it to accomplish
such purpose, including but without limitation to the power to lease its properties and to
issue interest-bearing revenue bonds. This chapter shall be liberally construed in conformity
with the said intent. (Acts 1966, Ex. Sess., No. 221, p. 308, §2.)...
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16-65-5
Section 16-65-5 Powers of authority. The authority shall have all of the following powers:
(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 borrow money and to issue bonds
for the purpose of making equipment loans to educational institutions to finance equipment
costs, and to provide for the rights of the purchasers, holders, or owners of such bonds.
(5) To make equipment loans to any public educational institution in order to finance equipment
costs, which equipment loans may be evidenced or secured by loan agreements, promissory notes,
security agreements, trust indentures, or such other instruments, and upon such terms and
conditions as the board of directors of the authority shall determine to be reasonable. (6)
To arrange for various forms of security or credit enhancement for its...
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16-61E-2
Section 16-61E-2 Definitions; purchase authorization; competitive bids; applicability of public
contract laws. (a) For purposes of this chapter, the following terms shall have the following
meanings: (1) EDUCATIONAL INSTITUTION. Educational and eleemosynary institutions governed
by boards of trustees or similar governing bodies, state trade schools, state junior colleges,
state colleges, or universities under the supervision and control of the State Board of Education,
city and county boards of education, district boards of education of independent school districts,
Department of Youth Services, the Alabama Institute for Deaf and Blind, the Alabama School
of Fine Arts, and the Alabama School of Math and Science. (2) INFORMATION TECHNOLOGY. Equipment,
supplies, and other tangible personal property, software, services, or any combination of
the foregoing, used to provide data processing, networking, or communications services. (3)
JOINT PURCHASING AGREEMENT. An agreement in writing...
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16-44A-32
Section 16-44A-32 Powers and duties of board. In furtherance of the purposes of the trust,
the board of trustees shall have the following powers and duties: (1) Accept gifts, contributions,
donations of funds or land, bequests, grants, appropriations, membership fees, or other forms
of financial assistance for educational and other purposes in furtherance of this article,
from any federal entity, from the state, its agencies and various political subdivisions,
or any public or other entity, any and all of which are hereby authorized to grant any of
the foregoing forms of assistance, or from any private person, foundation, corporation, or
other agency, and to comply with any rules and regulations concerning grants by the federal
government or other grantors, which are not in contravention of the Constitution and laws
of this state or the United States. In fulfillment of its statewide civic educational mission,
the trust may enter into cooperative agreements with local, state, regional,...
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16-16-2
Section 16-16-2 Legislative findings of fact and declaration of intent; liberal construction
of chapter. The Legislature hereby makes the findings of fact and declaration of intent hereinafter
set forth in this section. The great increase during recent years in the number of students
enrolled in the public schools and in other educational institutions in the state that are
supported wholly or in part by the state, the anticipated further increase in the enrollment
of students in such schools and educational institutions resulting from the greatly increased
birth rate and other factors, the increased enrollment in other public institutions in the
state and the need to supply additional educational facilities at those other public institutions
for the purpose of maintaining and further developing educational programs for the inmates
of those institutions have made it imperative that buildings and other facilities for educational
purposes be constructed and equipped in all parts of the...
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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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16-65-8
Section 16-65-8 Dedicated source of revenue as security for the repayment of equipment loans.
In order to provide for the funding of an equipment loan by the authority to an educational
institution, such educational institution shall establish a dedicated source of revenue to
secure the repayment of moneys received from the authority. Such educational institution is
hereby authorized and empowered, any existing statute to the contrary notwithstanding, to
do and perform any one or more of the following: (1) To obligate itself to pay to the authority
at periodic intervals a sum sufficient to provide for the payment of debt service with respect
to the bonds of the authority issued to fund the equipment loan made to such educational institution
and to pay over such debt service to the authority for the account of such educational institution.
(2) To levy, collect, and pay over to the authority and to obligate itself to continue to
levy, collect, and pay over to the authority the proceeds...
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41-10-391
Section 41-10-391 Legislative findings of fact and declaration of intent; construction of article.
The Legislature hereby makes the following findings of fact and declares its intent to be:
Supercomputer technology is expected to have a significant impact on the research capabilities
of research institutions, governmental agencies and private industries. The police power of
the state authorizes the state to promote the prosperity and general welfare of its citizens.
The development of supercomputer technology will greatly enhance research capabilities of
the state's major research institutions and governmental agencies, and will attract industry
to the state. For these reasons, it is the intent of the Legislature by the passage of this
article to exercise its police power to authorize the incorporation by the Governor, the Director
of Finance, the Secretary of the Alabama Department of Commerce, the Lieutenant Governor and
the Speaker of the House, of a public corporation for the...
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