41-4-62
Section 41-4-62 Refund of money paid for invalid or unissued bonds, etc. - Authorized; interest.
In cases where any person, firm or corporation has purchased or may hereafter purchase from
the state, or of its officers acting under authority or under color of authority purporting
to be conferred by an act or resolution of the Legislature of this state, bonds or securities
issued or proposed to be issued in consideration of funds or money which such person, firm
or corporation has actually paid or caused to be paid into the Treasury of the state, and
where for any reason such bonds or securities have not been paid or cannot be issued and delivered
or, if issued and delivered, have been declared invalid by the Supreme Court, such person,
firm or corporation may have the funds or money so paid into the Treasury of the state refunded,
together with interest thereon at the rate of interest said bonds or securities proposed to
bear from the date of the payment of said funds or money into the...
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16-16-10
Section 16-16-10 Disposition of proceeds of bonds. (a) The proceeds of all bonds, other than
refunding bonds, issued by the authority remaining after paying expenses of their issuance
shall be deposited in the State Treasury and shall be carried in the State Treasury in a special
or separate account. Said expenses shall be deducted from that portion of the said proceeds
allocated in subsection (o) of this section. Such remaining funds shall be subject to be drawn
upon by the authority with the approval of the secretary of the authority and the Governor,
but any funds so withdrawn shall be used solely for the purpose of financing the construction,
reconstruction, alteration, improvement and equipment of buildings and other facilities for
public educational purposes, including the cost of architectural services therefor and services
rendered by building inspectors for periodic and final inspections thereof, and for acquiring
sites therefor, in accordance with the provisions of this...
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16-16-9
Section 16-16-9 Execution, form, terms and conditions of bonds; sale; refunding bonds; bonds
to be limited obligations; security for payment; bonds as negotiable instruments; exemption
from taxation; bonds as security for deposits and for investment of fiduciary funds. (a) The
bonds of the authority shall be signed by its president and attested by its secretary, and
the seal of the authority shall be affixed thereto, and any interest coupons applicable to
such bonds shall be signed by the president; provided, that a facsimile of the signature of
one, but not both, of the said officers may be printed or otherwise reproduced on any such
bonds in lieu of his manually signing the same, a facsimile of the seal of the authority may
be printed or otherwise reproduced on any such bonds in lieu of being manually affixed thereto
and a facsimile of the president's signature may be printed or otherwise reproduced on any
such interest coupons in lieu of his manually signing the same. (b) Any bonds...
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2-6-84
Section 2-6-84 Securities as legal investments. Securities issued by the corporation under
the provisions of this article shall be legal investments for fiduciaries investing trust
funds and for investments by savings banks, savings and loan associations and insurance companies
organized under the laws of the state and shall be eligible to be used as security for the
deposit of funds of the state and its instrumentalities. (Acts 1984, No. 84-252, p. 405, §15.)...

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37-1-47
Section 37-1-47 Intervention, initiation or participation in federal proceedings involving
interstate rates, etc., in Alabama. When, in any proceeding before the Interstate Commerce
Commission, Federal Communications Commission, Federal Power Commission, Securities and Exchange
Commission or any other federal bureau or agency, any interstate rate or regulation or any
interstate rate, charge, regulation, rule or practice in the State of Alabama is drawn in
question or affected, the commission may through its members or agents intervene in such case,
take part therein and make such contentions as it shall deem proper. The commission additionally
may, through its members or agents, initiate or participate in, as a real party in interest
or as a permissive party with a recognized interest in the outcome, any litigation, administrative
hearings or any other proceedings before the Interstate Commerce Commission, Federal Communications
Commission, Federal Power Commission, Securities and...
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41-10-35
Section 41-10-35 Legislative findings and intent. The Internal Revenue Code of 1986, as amended,
imposes a "state ceiling" upon the aggregate principal amount of "private activity
bonds" which may be issued in any calendar year by or on behalf of a state and its political
subdivisions and instrumentalities, and establishes a method of allocating the available state
ceiling within each state. Authority is granted by the Internal Revenue Code, however, to
the states to provide for a different formula for allocation of the state ceiling. The Legislature
has found and determined that the allocation method contained in the Internal Revenue Code
is ill-suited for the needs of the State of Alabama and that the provisions of this division
will result in a more equitable and efficient distribution of the state ceiling available
to the state and will therefore promote the economic and industrial development of the state.
It is the intent of the Legislature by the passage of this division to...
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41-10-550
Section 41-10-550 Appropriation and pledge of funds for authority obligations. (a) For the
purpose of providing funds to enable the authority to pay debt service referable to any bonds
issued by it, amounts due on any authority guaranties entered into by it under this division
and other obligations incurred by the authority pursuant to this division, and to pay the
costs of acquiring, operating, and maintaining any project or other property the authority
may own, acquire, or operate and to pay any other costs, expenses, or obligations of the authority,
there is irrevocably pledged to such purpose and is appropriated to the authority so much
as may be necessary therefor of the appropriated funds. All moneys hereby appropriated and
pledged shall be deposited in a special fund maintained by the State Treasurer separate and
apart from all other funds under his or her supervision, and the State Treasurer is hereby
directed to cause moneys in the special fund to be disbursed solely for the...
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45-48-250
Section 45-48-250 Transfer of water prohibited under certain conditions. (a) The Legislature
of the State of Alabama finds the following: (1) It is in the best interest of the State of
Alabama and the people of Marshall County to protect the Tennessee River and its watershed
to promote the beneficial purposes of maintaining a clean drinking water supply, hydroelectric
power generation, navigation, industry, agriculture, environmental quality, and recreation.
(2) The Tennessee River has been identified by the people of Alabama and the nation as a unique
resource lying in seven states and by Congress through the establishment of a special authority
known as the Tennessee Valley Authority (TVA) for the promotion of the best interests of the
Tennessee Valley. (3) That it is in the best interest of the people of the State of Alabama
and Marshall County to protect and preserve the Tennessee River as set forth in this section
in the absence of statewide legislation and that the provisions of...
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11-97-22
Section 11-97-22 Bonds of corporation as legal investments. The bonds of any corporation shall
be legal investments in which the state and its agencies and instrumentalities, all counties,
municipalities, and other political subdivisions of the state and public corporations organized
under the laws thereof, all insurance companies and associations and other persons carrying
on an insurance business, all banks, savings banks, savings and loan associations, trust companies,
credit unions, and investment companies of any kind, all administrators, guardians, executors,
trustees, and other fiduciaries, and all other persons whatsoever are now or may hereafter
be authorized to invest in bonds or other obligations of the state, may properly and legally
invest funds in their control or belonging to them. (Acts 1984, No. 84-314, p. 695, §22.)...

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16-16-11
Section 16-16-11 Pledge of revenues for payment of bonds. (a) For the purpose of providing
funds to enable the authority to pay at their respective maturities the principal of and interest
on any bonds issued by it under the provisions of this chapter and to accomplish the objects
of this chapter, there is hereby irrevocably pledged to such purpose and hereby appropriated
such amount of money as may be necessary for such purpose out of the residue of the receipts
from the excise tax known as the sales tax levied by Sections 40-23-1 through 40-23-38, after
there shall have been taken therefrom the amounts appropriated for other than educational
purposes in Section 40-23-35 (which said residue constitutes that portion of the receipts
from the said sales tax that is now required by law to be paid into the Education Trust Fund),
and after taking from the said residue amounts sufficient to meet all prior charges on the
said residue including: (1) Such amounts as may be necessary to pay the...
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