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11-88-132
Section 11-88-132 Acquisition, etc., of water system of water and fire protection authority
by city board of water and sewer commissioners - Conveyance of funds in trust for authority's
fire protection system; governing board of authority as trustees; trustees' powers and liabilities.
(a) In the event that the board of water and sewer commissioners of any city ("commissioners")
should acquire, operate, or control by virtue of assignment, conveyance, court order, operation
of law, or otherwise the water system of a water and fire protection authority ("authority"),
then the commissioners shall thereupon convey to the authority the principal sum of $2,000,000
in irrevocable trust for the support and maintenance of the authority's fire protection system.
(b) The trustees of the trust so established shall be the members of the governing board of
the authority, as it may be comprised from time to time, who shall have all powers necessary
to effect the support and maintenance of the...
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14-2-19
Section 14-2-19 Bonds - Disposition of proceeds. (a) All proceeds derived from the sale
of any bonds, except refunding bonds, sold by the authority, remaining after payment of the
expenses of issuance thereof, shall be turned over to the State Treasurer, shall be carried
in a special account to the credit of the authority, and shall be subject to be drawn on by
the authority solely for the purposes of: (1) Acquiring land for and constructing, reconstructing
and equipping thereon one or more facilities; (2) Constructing additional improvements on
property currently owned by the Department of Corrections or the authority in order to provide
for additional bedspace; (3) Paying all reasonable and necessary expenses incidental thereto,
including filing, recording, surveying, legal and engineering fees and expenses; (4) Paying
the interest which will accrue on the said bonds during the period required for the construction
and equipment of the said facilities and for a period not exceeding...
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41-10-141
Section 41-10-141 Powers and duties of authority generally. An authority shall have
the following powers, together with all powers incidental thereto or necessary to the discharge
thereof in corporate form: (1) To have succession by its corporate name for the duration of
time (which may be in perpetuity) specified in its certificate of incorporation; (2) To maintain
civil actions and have civil actions maintained against it in its corporate name, except as
otherwise provided in this article, and to defend civil actions against it; (3) To adopt and
make use of a corporate seal and to alter the same at pleasure; (4) To amend its certificate
of incorporation by filing in the office of the Secretary of State a certificate signed by
all of the directors of the authority setting forth the details of the amendment, such certificate
to be acknowledged in the same manner as the certificate of incorporation; (5) To adopt and
alter bylaws for the regulation and conduct of its affairs and...
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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,...
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11-96A-3
Section 11-96A-3 Municipalities or counties empowered to take certain actions to carry
out purpose of chapter. The council or other governing body of any municipality, or governing
body of a county in furtherance of the legislative purpose stated above, is empowered to take
the following actions and to the extent necessary or desirable in its judgment to expend its
moneys to accomplish such purpose: (1) To acquire sites for, purchase, construct, own, develop,
operate, survey, subdivide, establish, maintain, refurbish, remodel, or improve single or
multi-family dwellings; (2) To receive designated funds from whatever source, federal, state,
private, or otherwise and to apply such funds for the uses and purposes described in this
chapter; (3) To sell and issue bonds or warrants in order to provide funds for any low or
moderate income single or multi-family housing purpose or to provide funds for any shelter
for the homeless purpose; (4) To purchase mortgage loans from mortgage lenders;...
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33-2-200
Section 33-2-200 Definitions. The words and terms used in this division shall have the
same definitions as provided in Section 33-2-180. In addition, the following words
and terms shall be given the following respective meanings: (1) INDENTURE. Any mortgage, indenture
of mortgage, deed of trust, trust agreement, or trust indenture executed by the department
as security for its special purpose obligations. (2) PRIVATE FACILITIES. Any and all kinds
of buildings, improvements, equipment, or other facilities for the use and benefit of one
or more commercial enterprises engaged in the manufacturing, processing, assembling, storing,
warehousing, distributing, or selling of any products of agriculture, mining, or industry,
or other commercial activity or research in connection therewith which is determined by the
department's board of directors, in its discretion, to aid commerce and use of the waterways
of the state. (3) PRIVATE FACILITY PAYMENTS. Rentals or other payments made to the...
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41-10-356
Section 41-10-356 Powers of authority. The authority shall have the following powers
among others specified in this article: (1) To have succession by its corporate name until
dissolved as provided in this article; (2) To sue and be sued and to prosecute and defend,
at law or in equity, in any court having jurisdiction of the subject matter and of the parties
thereto; (3) To have and to use a corporate seal and to alter the same at pleasure; (4) To
make and alter all needful bylaws, rules and regulations for the transaction of the authority's
business and the control of its property and affairs; (5) To provide for the acquisition,
construction, installation, equipping, operation and maintenance of mental health facilities,
including the equipping and improvement of existing mental health facilities; (6) To receive,
take and hold by sale, gift, lease, devise or otherwise, real and personal property of every
description, and to manage the same; (7) To acquire by purchase, gift, or any...
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41-10-27
Section 41-10-27 Issuance and sale of bonds for purpose of making grants for certain
purposes authorized; terms and conditions. (a) The authority is hereby authorized from time
to time to sell and issue its bonds, not exceeding $2,600,000.00 in aggregate principal amount,
for the purpose of making the grants of money authorized in Section 41-10-26. The grantees
may use the grants authorized in that section for any of the following purposes: (1)
The making of surveys to determine the location of suitable industrial sites in the locality
of the grantee. (2) The making of surveys to determine the availability of labor in the locality
of the grantee and to classify such labor in terms of skills and educational level. (3) The
preparation of industrial sites. (4) Any combination of any of the foregoing which the grantees
consider appropriate and necessary for the promotion of industrial development in their respective
localities. (b) Every grant of money made by the authority pursuant to...
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41-10-546
Section 41-10-546 Powers of authority. The authority shall have, in addition to all
other powers granted to it in this division, all of the following powers: (1) To have succession
by its corporate name until dissolved as herein provided. (2) To institute and defend legal
proceedings in any court of competent jurisdiction and proper venue; provided, however, that
the authority may not be sued in any nisi prius court other than the courts of the county
in which is located the principal office of the authority, and provided further that the officers,
directors, agents, and employees of the authority may not be sued for actions in behalf of
the authority in any nisi prius court other than the courts of the county in which is located
the principal office of the authority. (3) To have and to use a corporate seal and to alter
the seal at pleasure. (4) To establish a fiscal year. (5) To acquire, purchase, lease, receive,
hold, transmit, and convey the title to real and personal property to or...
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23-7-5
Section 23-7-5 Powers and functions. (a) In addition to the powers contained in other
provisions of this chapter, the bank has all power necessary, useful, or appropriate to fund,
operate, and administer the bank, and to perform its other functions including, but not limited
to, the following power to: (1) Have perpetual succession. (2) Adopt, promulgate, amend, and
repeal bylaws, not inconsistent with this chapter for the administration of the bank's affairs
and the implementation of its functions including the right of the board to select qualifying
projects and to provide loans and other financial assistance. (3) Sue and be sued in its own
name. (4) Have a seal and alter it at pleasure, although the failure to affix the seal does
not affect the validity of an instrument executed on behalf of the bank. (5) Make loans to
qualified borrowers to finance the eligible costs of qualified projects and to acquire, hold,
and sell loan obligations at prices and in a manner as the board...
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