16-17A-2
Section 16-17A-2 Definitions. For purposes of this chapter, the following terms shall have the following meanings: (1) ACADEMIC MEDICAL CENTER. The teaching, research, and clinical facilities provided, established, or operated by a constitutionally created public university in the state or a university that operates a school of medicine. (2) AUTHORITY. A public corporation organized pursuant to the provisions of this chapter. (3) BOARD. The board of directors of an authority. (4) DIRECTOR. A member of the board of an authority. (5) GOVERNMENTAL ENTITY. The state, a county, a municipality, or any department, agency, board, or commission of the state, a county, or a municipality. (6) HEALTH CARE FACILITY. All property or rights in property, real or personal, tangible or intangible, useful to an authority in its operations, including without limitation, the following: a. Facilities necessary or desirable to the operation of an academic medical center, one or more health sciences schools,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-17A-2.htm - 4K - Match Info - Similar pages
45-49A-10.05
Section 45-49A-10.05 Power to borrow money and issue revenue bonds. (a) The corporation shall have the power to borrow money and to issue revenue bonds as evidence of any money borrowed, which bonds shall be payable solely from the revenues derived from the activities and enterprises in which the corporation is hereby authorized to engage. As security for any money so borrowed, together with interest thereon, and any obligations incurred or assumed, the corporation in its discretion may mortgage, pledge, or otherwise transfer and convey its real, personal, and mixed property, or any part or parts thereof, whether then owned or thereafter acquired, including any franchises then owned or thereafter acquired, and all or any part of the revenues derived from the activities or enterprises in which the corporation is hereby authorized to engage. (b) When the corporation deems it advisable, convenient, necessary, or expedient to issue such bonds, it shall so resolve and all the provisions of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-49A-10.05.htm - 4K - Match Info - Similar pages
11-50A-20
Section 11-50A-20 Trust agreement. In the discretion of the authority, any issue of bonds may be secured by a trust agreement or indenture made by the authority with a corporate trustee, which may be any trust company or bank within or without the state having the powers of a trust company. The trust agreement or indenture may pledge or assign any revenues to be received by the authority and any proceeds which may be derived from the disposition of any real or personal property of the authority or proceeds of insurance carried thereon. The resolution providing for the issuance of bonds and the trust agreement or indenture may contain any provisions the authority deems necessary or appropriate for protecting and enforcing the rights and remedies of the bondholders, including the right of appointment of a receiver upon default in the payment of any principal or interest obligation and the right of any receiver or trustee to enforce collection of any rates, fees, tolls, charges, or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50A-20.htm - 3K - Match Info - Similar pages
11-92A-12
Section 11-92A-12 Powers of authority. An authority shall have the following powers, which it may exercise in any county within such authority's authorized operational area: (1) To have succession by its corporate name until dissolved as provided in this chapter; (2) To institute and defend legal proceedings in any court of competent jurisdiction and proper venue; provided, however, that an authority may not be sued in any trial court other than the courts of a county within the authorized operational area of the authority; provided, further, that the officers, directors, agents, and employees of an authority may not be sued for their actions in behalf of the authority except for actions that are known by such person to be unlawful or are performed with reckless disregard for the lawfulness of such actions; (3) To have and to use a corporate seal and to alter the seal at its pleasure; (4) To establish a fiscal year; (5) To anticipate by the issuance of its bonds the receipt of any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-92A-12.htm - 6K - Match Info - Similar pages
4-3-1
Section 4-3-1 Definitions. When used in this article, unless the context plainly indicates otherwise, the present tense shall include the future tense, the singular shall include the plural, the plural shall include the singular and the following words and phrases shall have the meanings respectively ascribed to them by this section: (1) AIRCRAFT. Any contrivance now known or hereafter invented, used or designed for navigation of or flight in the air, except a parachute or other contrivance designed for use primarily as safety equipment. (2) AIRPORT. Any area of land or water which is used, or intended for use, for the landing, taking-off, storage, parking or dispersal of aircraft, and any appurtenant areas which are used, or intended for use, for airport buildings, facilities or rights-of-way, together with all airport buildings, structures and facilities located thereon. (3) AIRPORT BUILDING. Any building used or to be used in connection with the construction, enlargement,...
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4-3-40
Section 4-3-40 Definitions. When used in this article, unless the context plainly indicates otherwise, the present tense shall include the future tense, the singular shall include the plural, the plural shall include the singular and the following words and phrases shall have the meanings respectively ascribed to them by this section: (1) AIRCRAFT. Any contrivance now known or hereafter invented, used or designed for navigation of or flight in the air, except a parachute or other contrivance designed for use primarily as safety equipment. (2) AIRPORT. Any area of land or water which is used, or intended for use, for the landing, take-off, storage, parking or dispersal of aircraft, and any appurtenant areas which are used, or intended for use, for airport buildings, facilities or rights-of-way, together with all airport buildings, structures and facilities located thereon. (3) AIRPORT BUILDING. Any building used or to be used in connection with the construction, enlargement,...
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8-6-2
Section 8-6-2 Definitions. When used in this article, unless the context otherwise requires, the following terms shall have the meanings respectively ascribed to them by this section: (1) COMMISSION or SECURITIES COMMISSION. The securities commission. (2) AGENT. Any individual other than a dealer who represents a dealer or issuer in effecting or attempting to effect sales of securities, but such term does not include an individual who represents an issuer in: a. Effecting a transaction in a security exempted by subdivisions (1), (2), (3), (4), (9) or (10) of Section 8-6-10; b. Effecting transactions exempted by Section 8-6-11; or c. Effecting transactions with existing employees, partners, or directors of the issuer if no commission or other remuneration is paid or given directly or indirectly for soliciting any person in this state. A partner, officer, or director of a dealer or issuer is an agent if he otherwise comes within this definition. (3) DEALER. Any person engaged in the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-6-2.htm - 11K - Match Info - Similar pages
11-101A-2
Section 11-101A-2 Definitions. As used in this chapter, the following terms shall have the following meanings, respectively, unless the context clearly indicates otherwise: (1) APPLICANT. A natural person who files a written application with the governing body of a county or municipality, or two or more thereof, in accordance with Section 11-101A-3. (2) AUTHORITY. A public corporation organized pursuant to this chapter. (3) AUTHORIZING RESOLUTION. A resolution adopted by the governing body of an authorizing subdivision in accordance with Section 11-101A-3, that authorizes the incorporation of an authority under this chapter. (4) AUTHORIZING SUBDIVISION. Each county and municipality with the governing body of which an application for the incorporation of an authority under this chapter is filed. (5) BOARD. The board of directors of an authority. (6) BONDS. Any bonds authorized to be issued by an authority hereunder, including refunding bonds. (7) CODE. The Code of Alabama 1975. (8)...
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11-50-101
Section 11-50-101 Issuance, etc., of bonds by municipalities having less than six thousand inhabitants. Any city or town having a population of less than 6,000 inhabitants may, notwithstanding the amount or character of any bonded or other indebtedness, issue such bonds, but the same shall be a lien or charge only against the property improved and drained and against the fund collected from the assessments levied against the property improved and drained and shall not be the general obligation of the city or town, nor shall such city or town be in any way liable to the holders of such bonds in case of failure to collect the same, but such bonds may be secured by mortgage on or deed of trust to said sewers or sewer system. Such last described bonds, when issued, shall convey and transfer to the owners thereof all right, title, and interest in and to the assessment and the lien upon the respective lots or parcels of ground provided for in this division, which liens and assessments shall...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50-101.htm - 1K - Match Info - Similar pages
11-56-10
Section 11-56-10 Bonds - Authority for issuance; security for payment of principal and interest generally; form, terms, denominations, etc.; sale, redemption, etc. The corporation is authorized at any time and from time to time to issue its interest-bearing revenue bonds for the purpose of acquiring, constructing, improving, enlarging, completing and equipping one or more projects. The principal of and the interest on any such bonds shall be payable solely out of the revenues derived from the project with respect to which such bonds are issued. None of the bonds of the corporation shall ever constitute an obligation or debt of the state, the county or the municipality or a charge against the credit or taxing powers of the state, the county or the municipality. Bonds of the corporation may be issued at any time and from time to time, may be in such form and denominations, may be of such tenor, may be payable in such installments and at such time or times, not exceeding 40 years from...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-56-10.htm - 2K - Match Info - Similar pages
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