41-10-55
Section 41-10-55 Issuance and sale of bonds authorized generally; form, terms, denominations, etc., thereof; bonds to be deemed negotiable instruments; redemption. Bonds of the authority may be sold from time to time as the board of directors may deem advantageous; provided, that the aggregate principal amount of bonds of the authority which may be issued under this article shall be limited to $20,000,000.00, but the said limitation shall not apply to refunding bonds which may be issued under this article and also shall not apply to bonds of the authority which may be issued under any other act which may at any time hereafter be enacted. The bonds shall be in such forms and denominations and of such tenor and maturities, shall bear such rate or rates of interest payable and evidenced in such manner and may contain other provisions not inconsistent with this article as may be provided in the resolution or resolutions of the board of directors of the authority wherein the bonds are...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-55.htm - 3K - Match Info - Similar pages
41-10-656
Section 41-10-656 Use of bond proceeds. (a) The proceeds derived from the sale of the bonds shall be deposited in the State Treasury and shall be carried in a separate fund therein for the account of the authority. 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 investments that constitute permitted investments, as defined in Division 1. Monies in such fund, whether original proceeds from the sale of the bonds or principal proceeds of matured investments, shall be paid out from time to time in orders or warrants issued by or on the direction of the authority for any one or more of the purposes specified in Section 41-10-654 that may be deemed by the authority to be necessary to comply with any and all commitments made by the state to the company. (b) Notwithstanding subsection (a), the authority...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-656.htm - 1K - Match Info - Similar pages
23-1-158
Section 23-1-158 Bonds - Disposition of proceeds. (a) The proceeds of all bonds, other than refunding bonds, issued by the corporation, remaining after paying the expenses of their issuance, shall be turned in to the Treasury or shall be deposited into such account or accounts as specified in the resolution of the board of directors whereunder such bonds are authorized to be issued, and shall be subject to be drawn on upon the approval of the Department of Transportation solely for the purpose of constructing, reconstructing, and relocating public roads, bridges and approaches thereto, tunnels, other public roadway improvements, or work incidental or related thereto, in the State of Alabama, including the acquisition of property necessary for such construction, reconstruction, and relocation and incidental and related work. If action is necessary in order to comply with any federal legislation relating to federal aid in construction of roads, the corporation may authorize the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-1-158.htm - 5K - Match Info - Similar pages
23-1-313
Section 23-1-313 Bonds and notes - Disposition of proceeds from sale. The authority shall pay out of the proceeds from the sale of the obligations authorized by this article all expenses that the board of directors may deem necessary and advantageous in connection with the sale and issuance thereof. The proceeds from the issue of any obligations authorized by this article, (i) except the proceeds of bonds which were issued to pay principal and interest of temporary bonds or notes and in anticipation of which such temporary bonds or notes shall have been issued, and (ii) except the proceeds of refunding bonds issued to refund any outstanding obligation, remaining after paying the expenses of their sale and issuance, shall be deposited in the State Treasury, shall be credited to the Road and Bridge Fund and shall be subject to be withdrawn by the authority, upon the approval of the State Department of Transportation and the Governor, but only for the purpose of paying the federal share...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-1-313.htm - 3K - Match Info - Similar pages
16-3-28
Section 16-3-28 Authority of board and trustees of institutions to borrow from federal agencies or others; issuance of bonds, notes and other securities. (a) The State Board of Education, acting for the respective educational institutions under its supervision, and each public corporation that conducts one or more state educational institutions under its supervision, acting through its board of trustees or other governing body, are hereby separately authorized to exercise and perform any or all of the following powers: (1) To borrow money from the United States of America or any department or agency thereof, or from any person, firm, corporation or other lending agency for the purchase, construction, enlargement or alteration of any buildings or other improvements, including dormitories, dining halls, classrooms, laboratories, libraries, stadiums, administration buildings and any other buildings and appurtenances thereto suitable for use by the institution with respect to which the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-3-28.htm - 5K - Match Info - Similar pages
2-5A-35
Section 2-5A-35 Refunding bonds. (a) Any bonds issued by the Department of Agriculture and Industries pursuant to this article may from time to time thereafter be refunded by the issuance of refunding bonds of the Department of Agriculture and Industries; provided, however, that no refunding bonds shall be issued unless the present value of all debt service on the refunding bonds, computed with a discount rate equal to the true interest rate of the refunding bonds and taking into account all underwriting discount and issuance expenses, shall not be greater than 97 percent of the present value of all debt service on the bonds to be refunded, computed using the same discount rate and taking into account the underwriting discount and other issuance expenses originally applicable to such bonds, determined as if such bonds to be refunded were paid and retired in accordance with the schedule of maturities, considering mandatory redemption as a scheduled maturity, provided at the time of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-5A-35.htm - 3K - Match Info - Similar pages
41-10-364
Section 41-10-364 Proceeds of bonds, other than refunding bonds; special fund to pay costs of acquisition, construction, etc., of mental health facilities; such work supervised by Building Commission; such work subject to competitive bidding; disposition of moneys remaining. The proceeds of the bonds, other than refunding bonds, remaining after paying the expenses of their sale and issuance shall be turned into the State Treasury, shall be carried in a special fund to be designated the Mental Health Facilities Building Fund, and shall be subject to be drawn on by the authority for the purpose of paying costs of acquisition, construction, improvement and equipping of mental health facilities in the state. For the purposes of this article, the improvement of a facility shall be deemed to include the renovation, modernization, remodeling, and equipment thereof and the construction of additions thereof, and the construction of a facility shall be deemed to include the acquisition of real...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-364.htm - 2K - Match Info - Similar pages
41-10-628
Section 41-10-628 Disposition of proceeds of bonds. (a) The authority is authorized and empowered to apply the proceeds of any bonds for any of the following purposes or uses: (1) For the purposes for which the bonds were authorized to be issued. (2) To fund any reserve fund established in connection with an authorized issue if the authority deems the establishment of such reserve fund to be necessary and desirable. (3) To pay for the cost of obtaining credit enhancement for the bonds. (4) To pay capitalized interest on the bonds. (5) To pay the costs of issuing the bonds. (6) If refunding bonds are issued pursuant to this division, to pay debt service on and the redemption price of any bonds to be refunded. (b) Pending the application of the proceeds of bonds of the authority to the purpose or purposes for which the bonds were issued, the proceeds and any monies held in funds created as security for the bonds may be invested by the authority in permitted investments, as the authority...
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11-89B-2
Section 11-89B-2 Form, terms, denominations, etc. of bonds; execution and delivery; interest; sale; issuance of refunding bonds; liability on bonds; source of payment; use of proceeds; mortgage, deed of trust, etc., containing certain agreements. All bonds issued pursuant to the provisions of this chapter shall be signed by the chairman of the board of directors or other governing body or other chief executive officer of such public corporation and attested by its secretary and the seal of such public corporation shall be affixed thereto; provided, that a facsimile of the signatures of both of the officers whose signatures will appear on the bonds may be imprinted or otherwise reproduced thereon in lieu of being manually signed if the proceedings in which the bonds are authorized to be issued provide for the manual authentication of such bonds by a trustee, registrar or paying agent; provided further, that a facsimile of the seal of such public corporation may be imprinted or otherwise...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-89B-2.htm - 6K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-65-6.htm - 7K - Match Info - Similar pages
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