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11-50-346
Section 11-50-346 Execution of trust agreement as security for payment of revenue bonds authorized;
provisions in trust agreements or resolutions for issuance of bonds generally. In the discretion
of the board, any revenue bonds issued under the provisions of this article may be secured
by a trust agreement by and between the board and a corporate trustee, which may be any trust
company or bank having the powers of a trust company within or without the state. Such trust
agreement or resolution providing for the issuance of such bonds may pledge or assign the
revenues to be received, but shall not convey or mortgage any water system or sewer system
or any part thereof. Such trust agreement or resolution providing for the issuance of such
bonds may contain such provisions for protecting and enforcing the rights and remedies of
the bondholders as may be reasonable and proper and not in violation of law, including covenants
setting forth the duties of the board in relation to the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50-346.htm - 3K - Match Info - Similar pages
11-62-9
Section 11-62-9 Bonds and notes generally - Notice of resolution authorizing issuance of bonds
or notes; limitation period for actions, etc., as to validity of proceedings for issuance
of bonds. (a) Upon the adoption by the board of any authority of any resolution providing
for the issuance of bonds or notes, such authority may, in the discretion of its board, cause
a notice respecting the issuance of such bonds or notes to be published once a week for two
consecutive weeks in each county in which shall be located any facility financed or in any
way assisted by the issuance of such bonds or notes, such publication in each such county
to be in a newspaper having general circulation therein. Such notice shall be in substantially
the following form (the blanks being properly filled in) at the end of which shall be printed
the name and title of either the chairman or secretary of such authority: "_____ a public
corporation and instrumentality of the State of Alabama, on the _____ day...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-62-9.htm - 3K - Match Info - Similar pages
11-89A-23
Section 11-89A-23 Notice of bond resolution; contest to validity of bonds, etc. Upon the adoption
by the board of any authority of any resolution providing for the issuance of bonds, such
authority may, in the discretion of its board, cause a notice respecting the issuance of such
bonds to be published once a week for two consecutive weeks in each county in which shall
be located any facility financed or in any way assisted by the issuance of such bonds, such
publication in each such county to be in a newspaper having general circulation therein. Such
notice shall be in substantially the following form (the blanks being properly filled in)
at the end of which shall be printed the name and title of either the chairman or secretary
of such authority: "_____, a public corporation and instrumentality of the State of Alabama,
on the _____ day of _____, authorized the issuance of $_____ principal amount of bonds (or
notes, as the case may be) of the said public corporation for purposes...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-89A-23.htm - 2K - Match Info - Similar pages
23-2-152
Section 23-2-152 Bondholder's and trustee's rights of enforcement; scope of rights. Any holder
of bonds issued under the provisions of this article, or of any of the coupons appertaining
thereto, and the trustee under any trust agreement, except to the extent that the rights herein
given may be restricted by such trust agreement, may, by civil action or proceeding protect
and enforce any and all rights under the laws of this state, or granted hereunder, or under
the trust agreement or the resolution authorizing the issuance of bonds and may enforce and
compel the performance of all duties required by this article or by the trust agreement or
resolution to be performed by the authority or by any officer thereof, including the fixing,
charging and collecting of tolls. (Acts 1980, No. 80-691, p. 1377, ยง12.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-2-152.htm - 1K - Match Info - Similar pages
11-101A-19
Section 11-101A-19 Authorization of securities. (a) Any resolution authorizing any securities
under this chapter may contain a recital that they are issued pursuant to this chapter, which
recital shall be conclusive evidence that the securities have been duly authorized pursuant
to this chapter, notwithstanding any other law now in force or hereafter enacted or amended.
Upon the adoption by the board of any resolution providing for the issuance of securities,
the authority may cause to be published once a week for two consecutive weeks in a newspaper
published in the county in which the principal office of the authority is located, or, if
there is no newspaper, then in a daily newspaper published in the state, a notice in substantially
the following form, with any appropriate changes, to the extent applicable and with the blanks
being properly filled in: " ___, a public corporation and instrumentality under the laws
of the State of Alabama, has authorized the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-101A-19.htm - 2K - Match Info - Similar pages
11-47-233
Section 11-47-233 Notice respecting issuance of bonds; limitation of actions contesting validity
of bonds. Upon the adoption by the board of an authority of any resolution providing for the
issuance of bonds, the authority shall cause a notice respecting the issuance of the bonds
to be published once a week for two consecutive weeks in each county in which shall be located
any project financed or in any way assisted by the issuance of the bonds, the publication
in each county to be in a newspaper having general circulation therein. The notice shall be
in substantially the following form (the blanks being properly filled in) at the end of which
shall be printed the name and title of either the chair or secretary of the authority: "___,
a public corporation and instrumentality of the State of Alabama, on the _____ day of ___,
authorized the issuance of $ _____ principal amount of bonds (or notes, as the case may be)
of the public corporation for purposes authorized in the act...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-47-233.htm - 2K - Match Info - Similar pages
11-50-529
Section 11-50-529 Bonds - Rights and remedies of bondholders. In addition to all other remedies
available under this chapter or by law, any holder of any bonds issued by the corporation,
including the trustee under any mortgage or deed of trust executed as security therefor, shall
have the right, subject to any contractual limitations and to the prior or superior rights
of others: (1) By mandamus or other suit, action or proceeding to enforce his rights against
the corporation and the board and its officers, including the right to require the fixing
and collection of uniform schedules of rates and charges adequate to carry out any agreement
made by the corporation as to, or pledge of, the revenues of the corporation, and to require
the corporation and the board and its officers to carry out any other agreements with the
holders of such bonds and the trustee; (2) By civil action to enjoin any acts or things which
may be unlawful or in violation of the rights of the holders of the bonds...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50-529.htm - 2K - Match Info - Similar pages
11-99A-15
Section 11-99A-15 Issuance of bonds by districts; terms and assessments. (a) A district may
borrow money by the issuance of bonds, which bonds shall be revenue obligations, payable exclusively
out of assessments levied on land within the district, and the bonds shall not be supported
by the full faith and credit of the appointing government. However, the bonds may be secured
by additional revenues, guarantees, pledges, letters of credit, or other credit enhancements
as may be provided by the district, the owner of any property within the district, or any
other person, to the extent provided in the proceedings of the board with respect to the issuance
of the bonds. (b) Bonds of a district shall be signed by its chair and attested by its secretary,
the seal of the district may be affixed thereto, and any interest coupons applicable to the
bonds shall be signed by the chair; provided that: (1) a facsimile of the signature of the
officers may be printed or otherwise reproduced on any bonds...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-99A-15.htm - 4K - Match Info - Similar pages
23-1-177
Section 23-1-177 Bonds - Generally. (a) The bonds of the corporation shall be signed by its
president and attested by its secretary, and the seal of the corporation shall be affixed
thereto or printed or otherwise reproduced thereon; provided, that a facsimile of the signature
of one, but not both, of the officers may be printed or otherwise reproduced on any such bonds
in lieu of his or her signing the same. (b) Any bonds of the corporation may be executed and
delivered by it at any time and from time to time, shall be in such form and denominations
and of such tenor and maturities, shall bear such rate or rates of interest payable and evidenced
in such manner, may contain provisions for redemption prior to maturity, and may contain such
other provisions not inconsistent with this article, all as may be provided by the resolution
of the board of directors under which such bonds are authorized to be issued; provided, that
no bond of the corporation shall have a specified maturity date...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-1-177.htm - 6K - Match Info - Similar pages
11-20-39
Section 11-20-39 Bonds - Security for payment of principal and interest; remedies upon default.
The principal of and interest on any bonds issued by the corporation shall be secured by a
pledge of the revenues and receipts out of which the same shall be made payable and may be
secured by a mortgage covering all or any part of the projects from which the revenues or
receipts so pledged may be derived, including any enlargements of and additions to any such
projects thereafter made. The resolution under which the bonds are authorized to be issued
and any such mortgage may contain any agreements and provisions respecting the maintenance
of the projects covered thereby, the fixing and collection of fees, rates, tolls and charges
for the services, facilities and accommodations furnished by the corporation and of the rents
for any portions thereof leased by the corporation to others, the creation and maintenance
of special funds from such revenues and the rights and remedies available in the...
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