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11-64-3
Section 11-64-3 Power and authority of municipalities and public corporations. Each municipality
and each public corporation shall have the power and, when approved by its governing body,
the authority, to do or perform any one or more of the following: (1) To anticipate the receipt
of any grant either by loan or by assignment or both; to issue securities to evidence such
loan or assignment; to make such securities the general obligation indebtedness of the issuer
or the obligation of the issuer limited or restricted as to source of payment and security
to all or a portion of the proceeds of the grant or to any revenue, receipts, or income or
any special tax or license of the issuer, or any one or more thereof. (2) To pledge to the
holders of any securities issued pursuant to this chapter the full faith and credit of the
issuer and in addition to, or instead of such pledge, to pledge and grant a security interest
in all or a portion of the proceeds of the grant or any revenue,...
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11-81A-3
Section 11-81A-3 Power and authority of municipalities, counties, and public corporations.
Each municipality or county and each public corporation shall have the power and, when approved
by its governing body, the authority, to do or perform any one or more of the following: (1)
To anticipate the receipt of any grant either by loan or by assignment or both; to issue securities
to evidence such loan or assignment; to make such securities the general obligation indebtedness
of the issuer or the obligation of the issuer limited or restricted as to source of payment
and security to all or a portion of the proceeds of the grant or to any revenue, receipts,
or income or any special tax or license of the issuer, or any one or more thereof. (2) To
pledge to the holders of any securities issued pursuant to this chapter the full faith and
credit of the issuer and in addition to, or instead of such pledge, to pledge and grant a
security interest in all or a portion of the proceeds of the grant or...
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11-97-10
Section 11-97-10 Security for payment of bonds; contracts and agreements to secure. (a) Bonds
issued by any corporation may, as its board may deem advisable, be either general obligations
of such corporation or limited obligations payable only out of certain specified revenues
or assets of such corporation; provided, that any corporation may enter into contracts with
the holders of any of its bonds preventing such corporation from thereafter issuing general
obligation bonds or limiting the amount of such bonds that may thereafter be issued. To the
extent permitted by any contracts with the holders of outstanding bonds and any other contractual
obligations or requirements, any corporation may pledge any of its revenues or mortgage or
assign any of its assets, whether real or personal and whether tangible or intangible, to
secure the payment of any of its bonds. (b) As security for payment of the principal of and
the interest and premium, if any, on any bonds issued or assumed by it, any...
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11-48-83
Section 11-48-83 Issuance of bonds payable solely out of proceeds from assessments to pay cost
of improvements. Each such city shall also have the power to finance the construction of public
improvements in the police jurisdiction of such city by the issuance of its bonds payable
solely out of the proceeds from assessments then made or to be thereafter made against the
properties specially benefited by such improvements. Any such bonds shall not be general obligations
of such city, and such city shall not be in any way liable to the holders of such bonds in
the event of the failure to collect any of the assessments out of the proceeds from which
such securities may be payable. Any such bonds shall pledge, convey and transfer to the holders
thereof all of the issuing city's right, title and interest in and to such assessments and
the city's liens securing such assessments, together with the right to enforce the collection
of such assessments by foreclosure of such liens in any court of...
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40-23-4
Section 40-23-4 Exemptions. (a) There are exempted from the provisions of this division and
from the computation of the amount of the tax levied, assessed, or payable under this division
the following: (1) The gross proceeds of the sales of lubricating oil and gasoline as defined
in Sections 40-17-30 and 40-17-170 and the gross proceeds from those sales of lubricating
oil destined for out-of-state use which are transacted in a manner whereby an out-of-state
purchaser takes delivery of such oil at a distributor's plant within this state and transports
it out-of-state, which are otherwise taxed. (2) The gross proceeds of the sale, or sales,
of fertilizer when used for agricultural purposes. The word "fertilizer" shall not
be construed to include cottonseed meal, when not in combination with other materials. (3)
The gross proceeds of the sale, or sales, of seeds for planting purposes and baby chicks and
poults. Nothing herein shall be construed to exempt or exclude from the computation of...
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11-89B-1
Section 11-89B-1 Public corporation given power to sell and issue bonds, to pledge for payment
proceeds, revenues, etc., and to issue bonds or notes for temporary borrowing. In addition
to all other powers now or hereafter granted by law, each public corporation organized under
the laws of the State of Alabama which is authorized by law (i) to operate a water system
consisting of land, plants, systems, facilities, buildings and other property, or any combination
of any thereof, which are used or useful or capable of future use in providing, furnishing,
supplying or distributing water and (ii) to borrow money for use for one or more of its corporate
purposes shall have the following powers, together with all powers incidental thereto or necessary
to the discharge thereof in corporate form: (1) To sell and issue bonds of such public corporation
in order to provide funds for any corporate function, use or purpose for which such public
corporation is otherwise authorized by law to borrow...
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11-95-15
Section 11-95-15 Applicability of Division 2 of Article 4 of Chapter 21 of Title 22. A corporation
shall constitute a hospital corporation as that term is used in Sections 22-21-101, 22-21-102,
and 22-21-106 as now or hereafter amended. Without limiting the generality of the foregoing,
any corporation may be designated by its authorizing county as the agency of such county to
acquire, construct, equip, operate, and maintain public hospital facilities in such county,
in the manner and with the consequences specified in said Section 22-21-101, shall, if so
designated, receive hospital taxes referred to in said Section 22-21-102 to the extent and
in the manner provided in said section, and shall be entitled to anticipate the proceeds of
any special county tax in the manner and to the extent specified in said Section 22-21-106.
Nothing in this section shall be construed in any manner to limit any rights or powers otherwise
conferred upon a corporation pursuant to any other provision of...
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16-17A-17
Section 16-17A-17 Conveyance of property, etc., to authority; pledge of full faith and credit.
(a) The state, any university, any governmental entity, and any public corporation is hereby
authorized to give, transfer, convey, or sell to any authority or a university affiliate,
with or without consideration: (1) Any of its health care facilities and other properties,
real or personal, and any funds and assets, tangible or intangible, relative to the ownership
or operation of any such health care facilities, including any certificates of need, assurances
of need, or other similar rights appertaining or ancillary thereto, irrespective of whether
they have been exercised. (2) Any taxes, revenues, or funds owned or controlled by it. (3)
Nothing in this chapter shall be construed as allowing an authority or university affiliate
to be exempt from compliance with all applicable laws and regulations of the State Certificate
of Need program and the Alabama State Health Planning and Development...
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11-86A-12
Section 11-86A-12 Powers of authority generally. An authority shall have the following powers:
(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 court other than the courts
of the county of incorporation; provided, further, that the officers, directors, agents, and
employees of an authority may not be sued for their actions on behalf of the authority except
for actions that are known by a person to be unlawful or are performed with reckless disregard
for the lawfulness of the 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 revenues that may be appropriated by or to the authority and
to pledge the proceeds of the appropriations as security for the...
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23-2-149
Section 23-2-149 Trust agreements securing bond issues; authorized provisions protecting holders;
pledge of revenues. In the discretion of the authority, any bonds issued under the provisions
of this article may be secured by a trust agreement by and between the authority and a corporate
trustee, which may be any trust company, or bank having the powers of a trust company, within
or without the state. The trust agreement or the resolution providing for the issuance of
such bonds subject to the provisions of Section 23-2-147, may pledge or assign tolls or other
revenues to which the authority's right then exists or which may thereafter come into existence,
and the moneys derived therefrom, and the proceeds of such bonds; provided, however, that
the trust agreement or resolution shall not convey or mortgage any toll road, bridge or tunnel
project or any part thereof. Such trust agreement or resolution providing for the issuance
of bonds may contain such provisions for protecting and...
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