11-28-4
Section 11-28-4 Authorization of refunding warrants. Each county may at any time and from time
to time issue refunding warrants for the purpose of refunding refundable debt then outstanding,
whether such refunding shall occur before, at or after the maturity of the refundable debt
to be refunded, and such refunding warrants shall be governed by the provisions of this chapter
as and to the same extent applicable to warrants authorized in Section 11-28-2. In the discretion
of the county commission of the issuing county, such refunding warrants may be issued in exchange
for the instruments evidencing the refundable debt to be refunded or they may be sold and
the proceeds thereof applied to the purchase, redemption or payment of such instruments. Refunding
warrants to be issued in exchange for outstanding instruments evidencing refundable debt shall
be issued in such principal amount and shall bear such interest that the combined total of
such principal amount and the interest accrued...
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11-9-26
Section 11-9-26 Issuance of warrants deemed to constitute audit and allowance of claim. The
issuance of warrants and any interest coupons applicable thereto pursuant to the provisions
of this article and in accordance with the authorization of the county commission of the county
issuing such warrants shall be deemed to constitute an audit and allowance by such county
commission of a claim, in the aggregate principal amount of such warrants and interest coupons,
against the county and against any tax proceeds and any revenues or either thereof pledged
for payment of such warrants pursuant to the provisions of this article. No proof of registration
or other audit or allowance of such claim shall be required and such warrants and interest
coupons shall, from and after the date of their lawful issuance, be deemed to be allowed claims
against the county by which they were issued and against any tax proceeds and revenues or
either so pledged therefor. (Acts 1973, No. 1128, p. 1901, §7.)...
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22-27-26
Section 22-27-26 Warrants and interest coupons as claims against county. The issuance of warrants
and any interest coupons applicable thereto, pursuant to the provisions of this article and
in accordance with the authorization of the county commission issuing such warrants, shall
be deemed to constitute an audit and allowance by such county commission of a claim, in the
aggregate principal amount of such warrants and interest coupons, against the county and against
any tax proceeds and any revenues, or either thereof, pledged for payment of such warrants
pursuant to the provisions of this article. No proof of registration or other audit or allowance
of such claim shall be required, and such warrants and interest coupons shall, from and after
the date of their lawful issuance, be deemed to be allowed claims against the county by which
they were issued and against any tax proceeds and revenues, or either, so pledged therefor.
(Acts 1971, No. 1197, p. 2068, §7.)...
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40-7-93
Section 40-7-93 Special pledges for payment. The governing body of the county issuing any such
warrants may, in its discretion, assign and specially pledge for the payment of the principal
of and interest on such warrants, so much as may be necessary for said payment of any one
or more of the following (or any part thereof): (1) The general annual ad valorem tax of one
half of one percent which the county is authorized to levy without reference to the purpose
thereof under the provisions of Section 215 of the Constitution of Alabama of 1901. (2) The
proceeds from any other tax (including any ad valorem tax and any privilege, license, or excise
tax) that at the time of the issuance of the said warrants may lawfully be used by the county
for payment of such principal and interest. (3) Any other revenues of, or funds available
to, the county that at the time of the issuance of the said warrants may lawfully be used
by the county for payment of such principal and interest, including (but...
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40-7-96
Section 40-7-96 Issuance of warrants deemed to constitute audit and allowance of claim. The
issuance of warrants and any interest coupons applicable thereto, pursuant to the provisions
of this division and in accordance with the authorization of the governing body of the county
issuing such warrants, shall be deemed to constitute an audit and allowance by such governing
body of a claim, in the aggregate principal amount of such warrants and interest coupons,
against the county and against any tax proceeds and any revenues or funds, or any thereof,
pledged for payment of such warrants pursuant to the provisions of this division. No proof
of registration or other audit or allowance of such claim shall be required, and such warrants
and interest coupons shall, from and after the date of their lawful issuance, be deemed to
be allowed claims against the county by which they were issued and against any tax proceeds,
revenues and funds, or any of them, so pledged thereof. (Acts 1973, No....
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45-39-250.02
Section 45-39-250.02 Funding. (a) In order to provide funds for payment of the costs of the
acquisition, establishment, purchase, construction, maintenance, enlargement, extension, lease,
or improvement of cable systems, telecommunications equipment, and telecommunications systems,
municipalities and municipal instrumentalities in Lauderdale County, within the limitations
applicable under the Constitution of Alabama of 1901, may become indebted in an amount not
to exceed the costs and the costs incurred in issuing the indebtedness, and in evidence thereof
issue the municipality's or municipal instrumentality's warrants, bonds, or other evidences
of indebtedness, as the case may be, in the manner, tenor, and form as may be otherwise provided
by law, for the issuance of the municipality's or municipal instrumentality's warrants, bonds,
or other evidences of indebtedness generally. The warrants, bonds, or other evidences of indebtedness
issued pursuant to this section shall be payable...
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11-15-13
Section 11-15-13 Warrants - Disposition of proceeds from sale. The proceeds derived from the
sale of any warrants (other than refunding warrants) may be used only to pay the cost of acquiring,
constructing, improving, enlarging and equipping a project or any part thereof as may be specified
in the proceedings in which the warrants are authorized to be issued. Such cost shall be deemed
to include the following: the cost of any land forming a part of the project; the cost of
the labor, materials and supplies used in any such construction, improvement or enlargement,
including architect's and engineer's fees and the cost of preparing contract documents and
advertising for bids; the purchase price of and the cost of installing equipment for the project;
the cost of landscaping the lands forming a part of the project and of constructing and installing
roads, sidewalks, curbs, gutters, utilities and parking places in connection therewith; fees
and expenses in connection with the...
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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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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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11-92-7
Section 11-92-7 Warrants - Security for payment of principal and interest. (a) The governing
body of any participant may assign and specially pledge any tax or any part thereof for the
payment of the principal of and interest on warrants. (b) To the extent necessary to make
the payment of the principal of and interest on the warrants, any tax or sales proceeds so
pledged shall constitute a trust fund which shall be impressed with a lien in favor of the
holders of such warrants. If, pursuant to this section, more than one pledge is made of any
tax, then the pledges shall take precedence in the order that they are made, unless the proceedings
making the pledge shall provide that it shall be on a parity or subordinate to a subsequent
pledge. All warrants benefitting from a pledge shall constitute preferred claims against the
tax or sales proceeds pledged, subject to any prior pledges existing at the time of issuance
of the warrants, and shall have preference over claims incurred by the...
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