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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...
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11-89A-9
Section 11-89A-9 Bonds of authority, generally. (a) Any authority shall have the power to issue,
sell, and deliver at any time and from time to time its bonds in such principal amount or
amounts as its board shall determine to be necessary to provide funds: (1) To finance the
costs of a facility or facilities; (2) To refund bonds theretofore issued or assumed by the
authority; (3) To provide funds to enable it to achieve any of its other corporate purposes;
or (4) To accomplish any one or more of the objectives referred to in subdivisions (1) through
(4). (b) Any such bonds may be executed and delivered by the authority at any time and from
time to time, may be in such form and denominations and of such tenor and maturities, may
be in registered or bearer form either as to principal or interest or both, may be payable
in such installments and at such time or times, not exceeding 45 years from the date thereof,
may be payable at such place or places whether within or without the State...
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11-28-1.1
Section 11-28-1.1 Definitions. As used in this chapter, the following words and phrases shall
have the following respective meanings, unless the context clearly indicates otherwise: (1)
COSTS. When used with reference to or in connection with any public facility or any portion
thereof, include all or any part of the cost of acquiring, constructing, altering, enlarging,
extending, reconstructing, or remodeling such public facility, including the cost of all lands,
structures, real or personal property, rights, rights-of-way, franchises, easements, permits,
licenses, and interests acquired or used for, in connection with or with respect to such public
facility, the cost of demolishing or removing any buildings or structures on land so acquired,
including the cost of acquiring land to which such buildings or structures may be moved, the
cost of all machinery, equipment, furniture, furnishings, and fixtures acquired or used for,
in connection with or with respect to such public facility,...
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40-17-359
Section 40-17-359 Distribution and use of proceeds. (a) For the purpose of this section, the
following terms shall have the meanings ascribed below: (1) BASE ANNUAL COUNTY DISTRIBUTION.
Five hundred fifty thousand dollars ($550,000). (2) COST OF COLLECTION. The amounts from the
proceeds of the highway gasoline tax that may be appropriated by the Legislature to the department
for its operating expenses. (3) COUNTY. Each county in the state. (4) FISCAL YEAR. The fiscal
year of the state. (5) DEPARTMENT OF TRANSPORTATION. The Department of Transportation of the
state. (6) HIGHWAY GASOLINE TAX. Both of the following: a. The excise tax levied under subdivision
(1) of subsection (a) of Section 40-17-325, with the exception of those portions of the tax
levied on aviation fuel and marine gasoline. b. The excise tax levied by Sections 40-17-140
to 40-17-155, inclusive, except that portion of the tax imposed on diesel fuel. (7) LOCAL
SUBDIVISIONS' SHARES OF THE NET TAX PROCEEDS. The 55 percent...
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33-15-6
Section 33-15-6 Powers, duties and functions generally. The general powers, duties and functions
of the authority shall be as follows: (1) GENERAL. The authority: a. Shall have perpetual
succession in its corporate name; b. May bring civil actions and have civil actions brought
against it in its corporate name; c. May adopt, use, and alter a corporate seal, which shall
be judicially noticed; d. May enter into such contracts and cooperative agreements with federal,
state and local governments, with agencies of such governments and with private individuals,
corporations, associations and other organizations, including the Bear Creek Watershed Association,
Inc., whether organized under the laws of Alabama or of another state, as the board may deem
necessary or convenient to enable it to carry out the purposes of this article, which authorization
shall include without limitation contracts and cooperative arrangements with any of the several
states and with counties and municipalities in...
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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...
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14-2-24
Section 14-2-24 Obligations, bonds and notes not debt of state. All obligations incurred by
the authority and all bonds and notes issued by it shall be solely and exclusively an obligation
of the authority, payable solely from the revenues and income which may under the provisions
of this chapter be pledged to the payment thereof. No obligation incurred by the authority
and no bond or note issued by it shall create an obligation or debt of the state. (Acts 1965,
No. 678, p. 1226, §18; Acts 1967, Ex. Sess., No. 103, p. 131.)...
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41-10-511
Section 41-10-511 Obligations, bonds and notes not debt of state. All obligations incurred
by the authority and all bonds and notes issued by it shall be solely and exclusively an obligation
of the authority, payable solely from the sources which may under the provisions of this article
be pledged to the payment thereof. No obligation incurred by the authority and no bond or
note issued by it shall create an obligation or debt of the state. (Acts 1990, No. 90-603,
p. 1094, §22.)...
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22-21-325
Section 22-21-325 Obligations not debt of state, county or municipality. All agreements and
obligations undertaken, and all securities issued, by an authority shall be solely and exclusively
an obligation of the authority and shall not create an obligation or debt of the state, any
authorizing subdivision or any other county or municipality within the meaning of any constitutional
or statutory provision. The faith and credit of the state, any authorizing subdivision or
any other county or municipality shall never be pledged for the payment of any securities
issued by an authority; nor shall the state, any authorizing subdivision or any other county
or municipality be liable in any manner for the payment of the principal of or interest on
any securities of an authority or for the performance of any pledge, mortgage, obligation
or agreement of any kind whatsoever that may be undertaken by an authority. (Acts 1982, No.
82-418, p. 629, §16.)...
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11-101A-16
Section 11-101A-16 Obligations rest with authority. All agreements and obligations undertaken,
and all securities issued, by an authority shall be solely and exclusively an obligation of
the authority and shall not create an obligation or debt of the state, any authorizing subdivision,
or any other county or municipality within the meaning of any constitutional or statutory
provision. The faith and credit of the state, any authorizing subdivision, or any other county
or municipality shall never be pledged for the payment of any securities issued by an authority.
The state, any authorizing subdivision, or any other county or municipality shall not be liable
in any manner for the payment of the principal of, or interest on, any securities of an authority
or for the performance of any pledge, mortgage, obligation, or agreement of any kind whatsoever
that may be undertaken by an authority. (Act 2001-642, p. 1317, §1.)...
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