|
2-6-54
Section 2-6-54 Lease authorized - Lease not to constitute debt of state; payment of rentals.
The lease agreement shall never in any event constitute or give rise to an indebtedness of
the State of Alabama and no recourse shall ever be had against the general credit of the state
or against its general funds for payment of said rentals. The rentals provided for in the
lease agreement shall be payable solely out of the moneys in the Agricultural Center Fund
derived from the operation of the properties covered by the lease agreement and, to the extent
such moneys are not sufficient to pay said rentals and to pay the said operating and administrative
expenses, out of the moneys in the Agricultural Fund appropriated for said purposes in this
article. No moneys at any time in the General Fund of the state shall ever be used for payment
of said rentals. (Acts 1951, No. 533, p. 943, ยง5.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-6-54.htm - 1K - Match Info - Similar pages
2-6-53
Section 2-6-53 Lease authorized - Agricultural Center Fund; appropriations for rentals and
expenses. The charges made by the board pursuant to Section 2-6-51 shall be deposited monthly
in the State Treasury to the credit of a special fund therein designated the Agricultural
Center Fund and shall be used solely for the payment of the rentals payable under the lease
agreement and the said operating and administrative expenses. So much of the moneys in the
Agricultural Center Fund as may be necessary therefor are hereby appropriated for said purposes.
In the event the revenues derived from the operation of the properties covered by the lease
agreement should not be sufficient to pay, as the same respectively mature, the rentals required
to be paid by the board under the provisions of the lease agreement and to pay the said operating
and administrative expenses, there is hereby appropriated and ordered set aside in each fiscal
year during the term of the lease agreement, solely out of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-6-53.htm - 3K - Match Info - Similar pages
41-10-541
Section 41-10-541 Definitions. (a) The following words and phrases used in this division, and
others evidently intended as the equivalent thereof, shall, in the absence of clear implication
herein otherwise, be given the following respective interpretations herein: (1) APPROPRIATED
FUNDS. Net TVA payments to the extent such payments are pledged and appropriated to the authority
pursuant to Section 41-10-550. (2) AUTHORITY. The public corporation organized pursuant to
this division. (3) AUTHORITY GUARANTY. An agreement of the authority pursuant to which the
payment of debt service referable to bonds, notes, or other evidences of indebtedness of a
development agency is guaranteed by the authority. (4) AUTHORITY OBLIGATIONS. Bonds of the
authority and authority guaranties. (5) AUTHORITY-GUARANTEED OBLIGATIONS. Bonds, notes, or
other evidences of indebtedness of a development agency that are issued solely for the purpose
in financing a project and that are guaranteed, in whole or in part,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-541.htm - 13K - Match Info - Similar pages
37-11A-1
Section 37-11A-1 Execution and text of compact. The Governor, on behalf of this state, shall
execute a compact, in substantially the following form, with the State of Mississippi, and
the Legislature approves and ratifies the compact in the form substantially as follows: Northeast
Mississippi - Northwest Alabama Railroad Authority Compact. The contracting states solemnly
agree: Article I. The purpose of this compact is to promote and develop trade, commerce, industry,
and employment opportunities for the public good and welfare in northeast Mississippi and
northwest Alabama through the establishment of a joint interstate authority to acquire certain
railroad properties and facilities which the operator thereof has notified the Interstate
Commerce Commission of an intention to abandon and which are located in any of Franklin, Marion,
or Winston Counties, Alabama or in Alcorn or Tishomingo Counties, Mississippi. Article II.
This compact shall become effective immediately as to the State...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-11A-1.htm - 33K - Match Info - Similar pages
2-6-107
Section 2-6-107 Lease of project. (a) Without limiting the generality of the powers otherwise
granted by this article, the corporation is authorized to lease the project, or portions thereof,
to the Alabama Agricultural Center Board or to any other public or private entity. The AACB
and any other agency, board, commission, bureau, or department of the state and each of them
are authorized to lease any facilities from the corporation. Any lease as described in this
section shall, however, be either of the following: (1) For a term no longer than the then
current fiscal year of the state, but any such lease may contain a grant to the lessee of
successive options of renewing the lease on the terms specified in the lease for any subsequent
fiscal year or years of the state; provided, that liability for the payment of rent shall
never be for a term longer than one fiscal year. (2) Provide that in no event rentals may
be paid from moneys appropriated by the state and that rentals shall be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-6-107.htm - 1K - Match Info - Similar pages
22-21-140
Section 22-21-140 Lease agreements with municipality. (a) Authorization of lease. The authority
and the municipality are hereby respectively authorized to enter into one or more lease agreements
with each other whereunder one or more projects or any part thereof shall be leased by the
authority to the municipality. No such lease agreement shall be for a term longer than the
then current fiscal year in which it is made. Any such lease agreement made, however, may
contain a grant to the municipality of successive options to renew such lease agreement, on
the conditions specified therein, for additional terms; but no such additional term shall
be for a period longer than the fiscal year in which such renewal shall be made. The lease
agreement may contain provisions as to the method by which such renewal may be effected. (b)
Payments limited to current revenues of the municipality for current fiscal year. The obligation
on the part of the municipality to pay the rental required to be paid...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-140.htm - 5K - Match Info - Similar pages
11-99B-12
Section 11-99B-12 Loans, sales, grants, guarantees, contractual or lease obligations of money
or property, to district by counties, municipalities, and public corporations. (a) For the
purpose of securing services of or the right to use or the use by its citizens or customers
of one or more projects of a district, or aiding or cooperating with the district in the planning,
development, undertaking, acquisition, construction, extension, improvement, financing, operation,
or protection of a project, any county, municipality, or other political subdivision, public
corporation, agency, or instrumentality of this state may, upon such terms and with or without
consideration, as it may determine: (1) Lend or donate money to, guarantee all or any part
of the indebtedness or operating expense of, or perform services for the benefit of, the district.
(2) Donate, sell, convey, transfer, lease, or grant to the district, without the necessity
of authorization at any election of qualified voters,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-99B-12.htm - 5K - Match Info - Similar pages
11-99-6
Section 11-99-6 Allocation of positive tax increments; payment to local finance officer; tax
increment fund. (a) Positive tax increments of a tax increment district shall be allocated
and paid over to the public entity which created the district for each year commencing on
the October 1 following the date when the district is created until the earlier of: (1) That
time, after the completion of all public improvements specified in the project plan or amendments
thereto, when the public entity has received aggregate tax increments from the district in
an amount equal to the aggregate of all expenditures previously made or monetary obligations
previously incurred for project costs for the district; or (2) Thirty-five years after the
last expenditure identified in the project plan is made. No expenditure may be provided for
in the project plan to be made more than five years after the district is created, except
in Class 3 municipalities where such expenditures may be made not more than 10...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-99-6.htm - 4K - Match Info - Similar pages
11-92C-8
Section 11-92C-8 Powers of authority. (a) The authority shall have the following powers, together
with all powers incidental thereto or necessary to the discharge thereof in corporate form:
(1) To have succession by its corporate name for the duration of time, which may be in perpetuity,
subject to Section 11-92C-20, specified in its certificate of incorporation. (2) To sue and
be sued in its own name and to prosecute and defend civil actions in any court having jurisdiction
of the subject matter and of the parties; provided that the authority shall be deemed to be
a governmental entity as defined in Chapter 93 of this title for the purpose of limiting the
damages for which the authority may be liable. (3) To adopt and make use of a corporate seal
and to alter the seal at its pleasure. (4) To adopt and alter bylaws for the regulation and
conduct of its affairs and business. (5) To acquire, whether by purchase, construction, exchange,
gift, lease, or otherwise, and to refinance existing...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-92C-8.htm - 12K - Match Info - Similar pages
11-92C-23
Section 11-92C-23 Loans, sales, grants, guarantees, and contractual or lease obligations of
money or property. (a) For the purpose of securing services of or the right to use or the
use by its citizens or customers of one or more projects of an authority, a cooperative district
of which the authority is a member, or any private user, or aiding or cooperating with the
authority, a cooperative district of which the authority is a member, or any private user
in the planning, development, undertaking, acquisition, construction, extension, improvement,
financing, operation, or protection of a project, any county, municipality, or other political
subdivision, public corporation, agency, or instrumentality of this state, upon such terms
and with or without consideration, as it determines, may do all of the following: (1) Lend
or donate money to, guarantee all or any part of the indebtedness or operating expense of,
or perform services for the benefit of, the authority, a cooperative district...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-92C-23.htm - 4K - Match Info - Similar pages
|