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2-3A-35
Section 2-3A-35 Refunding bonds. Pursuant to the provisions of Amendment 618 and this article,
the authority may, at any time and from time to time, issue for the state refunding bonds
of the state for the purpose of refunding any or all of the bonds authorized by Amendment
618 then outstanding (including any refunding bonds that may have been previously issued),
whether such refunding shall occur before, at or after the maturity of the bonds to be refunded.
In the discretion of the authority, refunding bonds may be issued in exchange for such outstanding
bonds or they may be sold and the proceeds thereof applied to the purchase, redemption or
payment of such outstanding bonds. Refunding bonds to be issued in exchange for such outstanding
bonds shall not be issued in a principal amount greater than the principal amount of the bonds
to be refunded. Refunding bonds to be sold pursuant hereto may be issued in such principal
amount or amounts as shall be determined by said authority....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-3A-35.htm - 3K - Match Info - Similar pages
2-3A-55
Section 2-3A-55 Refunding bonds. Pursuant to the provisions of Amendment 619 and this article,
the authority may, at any time and from time to time, issue for the state refunding bonds
of the state for the purpose of refunding any or all of the bonds authorized by the aforesaid
amendment then outstanding (including any refunding bonds that may have been previously issued),
whether such refunding shall occur before, at or after the maturity of the bonds to be refunded.
In the discretion of the authority, refunding bonds may be issued in exchange for such outstanding
bonds or they may be sold and the proceeds thereof applied to the purchase, redemption or
payment of such outstanding bonds. Refunding bonds to be issued in exchange for such outstanding
bonds shall not be issued in a principal amount greater than the principal amount of the bonds
to be refunded. Refunding bonds to be sold pursuant hereto may be issued in such principal
amount or amounts as shall be determined by said...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-3A-55.htm - 5K - Match Info - Similar pages
9-14A-16
Section 9-14A-16 Refunding bonds. Pursuant to the provisions of the aforesaid amendment and
this chapter, the corporations may, at any time and from time to time, issue for the state
refunding bonds of the state for the purpose of refunding any or all of the bonds authorized
by the aforesaid amendment then outstanding, including any refunding bonds that may have been
previously issued, whether such refunding shall occur before, at or after the maturity of
the bonds to be refunded. In the discretion of the corporations, refunding bonds may be issued
in exchange for such outstanding bonds or they may be sold and the proceeds thereof applied
to the purchase, redemption or payment of such outstanding bonds. Refunding bonds to be issued
in exchange for such outstanding bonds shall not be issued in a principal amount greater than
the principal amount of the bonds to be refunded. Refunding bonds to be sold pursuant hereto
may be issued in such principal amount or amounts as shall be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-14A-16.htm - 5K - Match Info - Similar pages
16-16A-7
Section 16-16A-7 Additional findings; bonds authorized; procedures. (a) The Legislature finds
that the number of students attending the several school systems located in those areas of
North Alabama that will be directly impacted by the 2005 BRAC and Subsequent BRAC Actions
will collectively increase by an estimated 9,000 students. As a result, there will be a need
for the construction of additional school facilities as well as the renovation of existing
school facilities. The Legislature also finds that the 2005 BRAC and Subsequent BRAC Actions
will have a positive impact on future receipts to the Education Trust Fund, as the significant
population growth in North Alabama will increase sales, income, and other tax collections.
Thus, it is an efficient use of state funds to allow such revenue growth to help pay for capital
improvement costs associated with BRAC-related school construction. (b) The Alabama Public
School and College Authority is hereby authorized to sell and issue its...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-16A-7.htm - 24K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54-131.htm - 3K - Match Info - Similar pages
33-16-13
Section 33-16-13 Bonds - Disposition of proceeds; investments. The authority shall pay out
of the proceeds from the sale of any of the bonds all expenses which the board of directors
may deem necessary or advantageous in connection with the sale and issuance of the bonds.
The proceeds from the sale of all bonds, other than refunding bonds, remaining after paying
the expenses of their sale and issuance shall be turned in to the State Treasury, shall be
carried in a special fund to be designated the Coosa Valley Development Authority fund, and
shall be subject to be drawn on by the authority, upon approval by the Governor, but solely
for the purpose of discharging the duties and obligations undertaken by the authority in connection
with the waterway project. The proceeds from the sale of any refunding bonds remaining after
the expense of their issuance shall be used only for the purpose of refunding the principal
of outstanding bonds issued hereunder and of paying any premium that may be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-16-13.htm - 2K - Match Info - Similar pages
33-17-13
Section 33-17-13 Bonds - Disposition of proceeds; investments. The authority shall pay out
of the proceeds from the sale of any of the bonds all expenses which the board of directors
may deem necessary or advantageous in connection with the sale and issuance of the bonds.
The proceeds from the sale of all bonds, other than refunding bonds, remaining after paying
the expenses of their sale and issuance shall be turned in to the state treasury, shall be
carried in a special fund to be designated the Tombigbee Valley Development Authority Fund,
and shall be subject to be drawn on by the authority, upon approval by the Governor, but solely
for the purpose of discharging the duties and obligations undertaken by the authority in connection
with the waterway and the flood control project. The proceeds from the sale of any refunding
bonds remaining after the expense of their issuance shall be used only for the purpose of
refunding the principal of outstanding bonds issued hereunder and of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-17-13.htm - 2K - Match Info - Similar pages
41-10-60
Section 41-10-60 Disposition of proceeds from sale of bonds and refunding bonds. (a) The authority
shall pay out of the proceeds from the sale of any of the bonds all expenses, including fees
of agents and attorneys and other charges, which said board of directors may deem necessary
or advantageous in connection with the issuance of the bonds. The proceeds of the bonds, other
than refunding bonds, remaining after paying the expenses of their issuance shall be turned
over to the State Treasurer and shall be carried by him 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 acquiring real estate suitable for the purpose of the authority in Jefferson County, Alabama,
including all expenses reasonably necessary in connection with such acquisition, and erecting,
constructing and equipping on such real estate exhibition halls, buildings, warehouses, storage
facilities, parking areas and other structures and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-60.htm - 3K - Match Info - Similar pages
41-10-626
Section 41-10-626 Bonds of the authority. (a) General. The authority is authorized from time
to time to sell and issue its bonds in limited amounts and for the purpose of promoting economic
development and industrial recruitment as specified by the Legislature from time to time by
separate act, provided that refunding bonds may be issued by the authority pursuant to Section
41-10-627 without first obtaining separate authorization from the Legislature. (b) Sources
of payment. Bonds issued by the authority shall be solely and exclusively an obligation of
the authority and shall not create an obligation or debt of the state. Such bonds shall not
be general obligations of the authority but shall be payable solely from one or more of the
following sources: (1) Appropriated funds. (2) The income or proceeds realized by the authority
under any mortgage or security granted to the authority. (3) Amounts derived from any letter
of credit, insurance policy, or other form of credit enhancement...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-626.htm - 5K - Match Info - Similar pages
23-7-6
Section 23-7-6 Funding; pledge of revenues. (a) The following sources may be used to capitalize
the bank and for the bank to carry out its purposes: (1) An annual contribution, as determined
by the Director of the Department of Transportation and approved by the Governor, of an amount
not to exceed revenues produced by one cent ($.01) a gallon of the tax on gasoline imposed
pursuant to subdivision (1) of subsection (a) of Section 40-17-325. Any funds contributed
pursuant to this subdivision shall be derived from the gasoline tax proceeds collected during
the fiscal year remaining in the Public Road and Bridge Fund after distributions of the tax
to the cities and counties. (2) An annual contribution, as determined by the Director of the
Department of Transportation and approved by the Governor, of an amount of the revenues collected
during the fiscal year pursuant to Section 40-12-248, not to exceed the balance remaining
in the Public Road and Bridge Fund pursuant to Section...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-7-6.htm - 6K - Match Info - Similar pages
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