22-21-106
Section 22-21-106 Issuance of securities - In anticipation of tax; funds from which payable; nature of obligation. Any hospital corporation may anticipate the proceeds from any special county tax required to be paid to it in accordance with the provisions of this division, by issuing securities for any one or more of the purposes for which the tax shall have been voted, and may pledge for the payment of the principal thereof and interest thereon the annual proceeds from the said tax so paid to it; provided, that if any constitutional provisions applicable to the pledge of the said tax shall restrict the portion of such tax proceeds that may be so pledged, then the hospital corporation shall have the power to pledge only that portion of the said proceeds that may be so pledged without violation of the said constitutional provisions. All securities issued under this division shall be payable from the proceeds of the special tax in respect of which they were issued and from such other...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-106.htm - 2K - Match Info - Similar pages
22-21-182
Section 22-21-182 Borrowing by corporation generally; debts not obligations of state, counties or municipalities; tax exemptions. (a) All securities of the corporation shall be signed in the name and behalf of the corporation by its chairman and attested by its secretary, but a facsimile of the signature of one, but not both, of such officers may be printed thereon in lieu of the manual signature of such officer, and the seal of the corporation shall be affixed thereto or a facsimile thereof printed thereon. Any interest coupons applicable to any securities of the corporation shall be signed by its chairman, but a facsimile of such chairman's signature may be printed on any such interest coupons in lieu of his manually signing the same. Any securities of the corporation may be executed and delivered by it at any time and from time to time, shall be in such form and denomination and of such tenor and maturity or maturities not exceeding 40 years from their date, shall contain such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-182.htm - 6K - Match Info - Similar pages
22-21-107
Section 22-21-107 Issuance of securities - Terms, conditions, etc.; pledge of revenues; mortgages; foreclosure prohibited. Securities issued under this division may contain such other terms, provisions, conditions, limitations and agreements, not inconsistent with the provisions of this division, as the directors of the hospital corporation issuing the same shall deem advisable, including, but not limited to, a pledge of all or any part of the revenues of the hospital corporation in payment of the securities and a mortgage of all or any part of the property, real or personal, or any interest therein, of the hospital corporation, including the property acquired or to be acquired from the proceeds of the securities being issued, as security for the payment of the principal of and interest on the securities; provided, that no such mortgage or pledge shall be construed so as to permit the foreclosure thereof. (Acts 1949, No. 640, p. 981, ยง5.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-107.htm - 1K - Match Info - Similar pages
22-21-318
Section 22-21-318 Powers of authority. (a) In addition to all other powers granted elsewhere in this article, and subject to the express provisions of its certificate of incorporation, an 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, specified in its certificate of incorporation or until dissolved as provided in Section 22-21-339; (2) To sue and be sued in its own name in civil suits and actions, and to defend suits and actions against it, including suits and actions ex delicto and ex contractu, subject, however, to the provisions of Chapter 93 of Title 11, which chapter is hereby made applicable to the authority; (3) To adopt and make use of a corporate seal and to alter the same at pleasure; (4) To adopt, alter, amend and repeal bylaws, regulations and rules, not inconsistent with the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-318.htm - 12K - Match Info - Similar pages
22-21-78
Section 22-21-78 Borrowing by corporation. (a) All securities of the corporation shall be signed by the chairman of its board of directors and attested by its secretary, and the seal of the corporation shall be affixed thereto. Any interest coupons applicable to the securities of the corporation shall be signed by the chairman of the board of directors, but a facsimile of such chairman's signature may be impressed on any such interest coupon in lieu of his manually signing the same. Any securities of the corporation may be executed and delivered by it at any time and from time to time, shall be in such form and denomination and of such tenor and maturities, shall contain such provisions not inconsistent with this section and shall bear such rate or rates of interest payable and evidenced in such manner as may be provided by resolution of the board of directors. (b) Any borrowing may be effected by sale of such securities at either public or private sale in such manner and at such price...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-78.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
16-16A-7
Section 16-16A-7 Additional findings; bonds authorized; procedures. (a) The Legislature finds that the number of students attending the several school systems located in those areas of North Alabama that will be directly impacted by the 2005 BRAC and Subsequent BRAC Actions will collectively increase by an estimated 9,000 students. As a result, there will be a need for the construction of additional school facilities as well as the renovation of existing school facilities. The Legislature also finds that the 2005 BRAC and Subsequent BRAC Actions will have a positive impact on future receipts to the Education Trust Fund, as the significant population growth in North Alabama will increase sales, income, and other tax collections. Thus, it is an efficient use of state funds to allow such revenue growth to help pay for capital improvement costs associated with BRAC-related school construction. (b) The Alabama Public School and College Authority is hereby authorized to sell and issue its...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-16A-7.htm - 24K - Match Info - Similar pages
22-21-108
Section 22-21-108 Issuance of securities - Execution and delivery; interest; payment; refunding; status; tax exemption. Securities of the hospital corporation may be executed and delivered by it at any time, and from time to time, shall be in such form and denomination and of such tenor and maturities, shall contain such provisions not inconsistent with this division and shall bear such rate or rates of interest payable and evidenced in such manner as may be provided by resolution of the directors of the hospital corporation providing for their issuance. Such securities shall be payable at such place or places, either within or without the state, as shall be prescribed in the resolution of the directors of the hospital corporation providing for their issuance. Such securities, and any interest coupons applicable thereto, shall be executed in such manner and shall be substantially in the form provided for in the authorizing resolution. Any securities issued by any hospital corporation...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-108.htm - 1K - Match Info - Similar pages
22-21-323
Section 22-21-323 Source of payment; security. (a) Securities issued by an authority shall not be general obligations of the authority but shall be payable solely out of the revenues from any health care facilities or other properties or assets (including, without limitation, proceeds from such securities, investment income and insurance and condemnation proceeds) owned or operated by it and the proceeds of any hospital tax appropriated, apportioned or allocated to it or for its benefit, or any portion of either thereof, all as may be provided or specified in the resolution of the board authorizing such securities or the indenture under which issued. The principal of and interest (and premium, if any) on any securities issued by the authority shall be secured by a pledge of the revenues or taxes (or both) out of which the same are payable and may be secured by a trust indenture evidencing such pledge or by a foreclosable mortgage, mortgage indenture or mortgage and trust indenture...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-323.htm - 4K - Match Info - Similar pages
22-21-102
Section 22-21-102 Special county tax - Payment to hospital corporation. When a hospital corporation has been designated as the agency of the county to acquire, construct, equip, operate and maintain public hospital facilities in the county, and without restriction to a particular area or portion of the county in which such corporation is to act as such agency, then the proceeds thereafter collected from any such special tax that is a countywide tax for public hospital purposes shall be paid over to the hospital corporation. When a hospital corporation has been designated as the agency of the county to acquire, construct, equip, operate and maintain public hospital facilities in a particular area or portion of the county, then the proceeds thereafter collected from any special tax for public hospital purposes that may have been voted in the area of the county for which such corporation shall have been so designated as the county's agency shall be paid over to said hospital corporation....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-102.htm - 2K - Match Info - Similar pages
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