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41-10-38
Section 41-10-38 Allocation formulae. (a) The state ceiling for calendar year 1989 and thereafter
is hereby allocated in its entirety to the state, and no other governmental unit, issuer,
or other entity of any type shall have or utilize any portion of the state ceiling for such
year except in accordance with this division. The state ceiling for calendar year 1989 and
thereafter shall be redistributed by the authority to issuers of affected bonds in the chronological
order of receipt of completed applications, subject to the limitations, reservations and further
provisions of this subsection. (1) There is hereby reserved for Alabama Housing Finance Authority
25 percent of the state ceiling for each calendar year, to be used for the issuance of exempt
facility bonds for qualified residential rental projects and for the issuance of qualified
mortgage bonds, in such relative principal amounts as shall be determined by the Board of
Directors of Alabama Housing Finance Authority. The...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-38.htm - 6K - Match Info - Similar pages
45-49A-10.05
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 the resolution or mortgage and of such covenants and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-49A-10.05.htm - 4K - 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
10A-2A-11.04
permitted by Section 10A-2A-10.05, its certificate of incorporation will not be changed; and
(3) each stockholder of the corporation whose stock was outstanding immediately before the
effective date of the merger or stock exchange will hold the same number of shares of stock,
with identical preferences, rights and limitations, immediately after the effective date of
the merger. (i) If as a result of a merger or stock exchange one or more stockholders of a
corporation will have new personal liability with respect to the surviving organization
or the acquiring entity, approval of the plan of merger or stock exchange will be ineffective
without the consent to the plan of merger or stock exchange of the stockholder who will have
new personal liability. A stockholder does not give consent required in this subsection
(i) merely by consenting to a provision in the certification of incorporation, the bylaws,
or an agreement of the stockholders, that allows for a plan of merger or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-11.04.htm - 11K - Match Info - Similar pages
11-47-251
Section 11-47-251 Powers of coastal municipalities. (a) Any coastal municipality may do any
of the following: (1) Plan, establish, develop, construct, enlarge, improve, maintain, regulate,
and protect beach projects, including, without limitation, joint beach projects with one or
more other coastal municipalities. (2) Finance the cost of beach projects in whole or in part
by the issuance of bonds, warrants, notes, or other evidence of indebtedness. (3) Pledge to
the payment thereof its full faith and credit and any taxes, licenses, or revenues which the
coastal municipality may then be authorized to pledge to the payment of bonded or other indebtedness.
(4) Make and enforce rules and regulations governing the use of and activities upon the areas
included within any beach project established by the coastal municipality with the concurrence
of the Commissioner of the Department of Conservation and Natural Resources, acting through
the Lands Division of the department. (5) Acquire or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-47-251.htm - 1K - Match Info - Similar pages
10A-10-1.15
Section 10A-10-1.15 Merger. (a) For purposes of this section, the following words shall have
the respective meanings ascribed to them: (1) ALABAMA REAL ESTATE INVESTMENT TRUST. A real
estate investment trust organized in compliance with the provisions of this chapter. (2) BUSINESS
TRUST. a. An entity described in Section 10A-16-1.01. b. An unincorporated trust or association,
including an Alabama real estate investment trust, a common-law trust, or a Massachusetts
trust, which is engaged in business and in which property is acquired, held, managed, administered,
controlled, invested, or disposed of for the benefit and profit of any person who may become
a holder of a transferable unit of beneficial interest in the trust. (3) DOMESTIC LIMITED
LIABILITY COMPANY. A limited liability company as defined under the Alabama Limited Liability
Company Law. (4) DOMESTIC LIMITED PARTNERSHIP. A limited partnership as defined under the
Alabama Limited Partnership Law. (5) FOREIGN BUSINESS TRUST. A...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-10-1.15.htm - 10K - Match Info - Similar pages
10A-2A-11.07
Section 10A-2A-11.07 Effect of merger or stock exchange. (a) When a merger becomes effective:
(1) the surviving organization continues or, in the case of a surviving organization created
pursuant to the merger, comes into existence; (2) each constituent organization that merges
into the surviving organization ceases to exist as a separate entity; (3) except as provided
in the plan of merger, all property owned by, and every contract right possessed by, each
constituent organization that ceases to exist vests in the surviving organization without
transfer, reversion, or impairment and the title to any property and contract rights vested
by deed or otherwise in the surviving organization shall not revert, be in any way impaired,
or be deemed to be a transfer by reason of the merger; (4) all debts, obligations, and other
liabilities of each constituent organization, other than the surviving organization, are debts,
obligations, and liabilities of the surviving organization, and neither...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-11.07.htm - 5K - Match Info - Similar pages
11-50-396
purchase, construct, receive, own, operate, maintain, enlarge, extend, and improve any one
or more gas systems the operation of which is provided for in the certificate of incorporation
of the district (whether or not such system or systems were in existence or whether or not
such system or systems were privately owned or municipally owned prior to the acquisition
by such district). (5) To receive, acquire, take, and hold, whether by purchase, gift, or
lease, devise, or otherwise, real, personal, and mixed property of any nature whatsoever
that its board of directors may deem a necessary or convenient part of or useful in connection
with such system or systems. (6) To borrow money for any corporate purpose and to issue in
evidence of the borrowing interest-bearing bonds payable solely from the revenues derived
from the operation of any one or more of its systems. (7) To pledge to the payment of its
bonds any revenues from which the bonds are made payable and to mortgage, pledge, or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50-396.htm - 4K - Match Info - Similar pages
23-1-155
and of the parties. (3) To have and to use a corporate seal and to alter the same at pleasure.
(4) To construct, reconstruct, and relocate, or to cause to be constructed, reconstructed,
and relocated, public roads, bridges, and approaches thereto, tunnels, and other public roadway
improvements, including work incidental or related thereto, in the State of Alabama. (5) To
acquire by purchase, gift or condemnation or any other lawful means and to convey, or cause
to be conveyed, any real, personal, or mixed property or materials necessary or convenient
in connection with the construction, reconstruction, or relocation of public roads, bridges
and approaches thereto, tunnels and other public roadway improvements in the State of Alabama.
(6) To exercise the right of eminent domain as freely and completely as, and in the same manner
that, the State of Alabama is empowered to exercise such right. (7) To borrow money for its
corporate purposes and, in evidence of such borrowing, to sell...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-1-155.htm - 3K - Match Info - Similar pages
23-1-175.1
Section 23-1-175.1 Infrastructure improvements. (a) In order to accomplish infrastructure improvements
contemplated for the benefit of the Alabama State Docks, the Alabama Highway Finance Corporation
shall have the following powers, in addition to all powers set forth in this article. (1)
To borrow money and issue its bonds in evidence thereof, in a principal amount not to exceed
one hundred fifty million dollars ($150,000,000), for the purpose of financing the widening
and deepening of the Mobile Ship Channel and improvements related thereto. No bond issued
by the corporation for this purpose shall have a specified maturity date later than twenty
years after its issuance date. (2) To issue from time to time one or more series of refunding
bonds for the purpose of refunding any bonds issued pursuant to subdivision (1) or bonds previously
issued to refund such bonds, in any case, however, having a final maturity that is not later
than the final maturity of the bonds being refunded. (3)...
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