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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-97-10.htm - 8K - Match Info - Similar pages
11-65-5
Section 11-65-5 Composition of commission; terms; qualifications; removal from office. (a) Every commission shall have five members, which shall constitute its governing body. All powers of a commission shall be exercised by its members or pursuant to their authorization. The mayor or other chief executive officer of the sponsoring municipality and the president or other designated presiding officer of the county commission of the host county shall each serve as a member ex officio, unless such official exercises his or her right, as provided in subsection (b), to appoint a fixed-term member to serve in lieu of such official. The service of each such official as a member shall begin with the beginning of his or her tenure in such office and shall end with the ending of such tenure or the appointment by such official of a fixed-term member to serve in lieu of his or her ex officio service. The other three members shall be appointed in the manner hereinafter prescribed as soon as may be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-65-5.htm - 17K - Match Info - Similar pages
10A-1-1.03
Section 10A-1-1.03 Definitions. As used in this title, unless the context otherwise requires, the following terms mean: (1) AFFILIATE. A person who controls, is controlled by, or is under common control with another person. An affiliate of an individual includes the spouse, or a parent or sibling thereof, of the individual, or a child, grandchild, sibling, parent, or spouse of any thereof, of the individual, or an individual having the same home as the individual, or a trust or estate of which an individual specified in this sentence is a substantial beneficiary; a trust, estate, incompetent, conservatee, protected person, or minor of which the individual is a fiduciary; or an entity of which the individual is director, general partner, agent, employee or the governing authority or member of the governing authority. (2) ASSOCIATE. When used to indicate a relationship with: (A) a domestic or foreign entity for which the person is: (i) an officer or governing person; or (ii) a beneficial...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-1-1.03.htm - 25K - Match Info - Similar pages
11-89A-10
Section 11-89A-10 Security for payment of bonds; contracts and agreements to secure. (a) Any bonds issued by the authority shall be revenue bonds and shall be payable solely out of such revenues of the authority as may be designated in the proceedings of the board under which they shall be authorized to be issued. Any such proceedings may provide that the bonds therein authorized shall be payable solely out of the revenues derived from the operation of any facility or facilities owned by the authority, regardless of the fact that those bonds may have been issued with respect to or for the benefit of a certain facility or facilities of the authority. (b) As security for payment of the principal and interest on any bonds issued or assumed by it, any authority may enter into a contract or contracts, and adopt resolutions or other proceedings containing provisions constituting a part of the contract or contracts with the holders of such bonds, pertaining to, among other things, the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-89A-10.htm - 5K - Match Info - Similar pages
33-12-5
Section 33-12-5 Powers, duties and functions. The powers, duties and functions of the agency shall be as follows: (1) GENERALLY. The agency a. Shall have perpetual succession in its corporate name. b. May sue and be sued 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 the federal, state and local governments, with agencies of such governments, with private individuals, corporations, associations, trusts and other organizations as the board may deem necessary or convenient to enable it to carry out the purposes of this chapter, including the planned, orderly residential development of the area. e. May adopt, amend and repeal bylaws. f. May appoint such managers, officers, employees, attorneys and agents as the board deems necessary for the transaction of its business, fix their compensation, define their duties, require bonds of such of them as the board may...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-12-5.htm - 18K - Match Info - Similar pages
4-3-45
Section 4-3-45 Board of directors of authority. Each authority shall be governed by a board of directors of either three, five, or seven members as provided in the certificate of incorporation or the bylaws. If the sole authorizing subdivision is a county, the county commission of the county shall elect all directors. If the sole authorizing subdivision is a municipality, the governing body of such municipality shall elect all directors. The directors initially elected shall be elected for terms of office of two, four, and six years, respectively, and their successors shall be elected for terms of six years. If a county and a municipality are both authorizing subdivisions, the governing body of the municipality shall elect one director for an initial term of two years if three directors are to be elected, and one director for an initial term of two years and one director for an initial term of four years if five directors are to be elected, and one for an initial term of two years and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/4-3-45.htm - 7K - Match Info - Similar pages
41-10-139
Section 41-10-139 Filing certificate of incorporation with Secretary of State; contents, execution, recordation, etc. (a) After the date of issuance by the Governor of his executive order authorizing the applicants to proceed to form a public corporation, as provided in Section 41-10-138, the applicants or not less than three of the applicants shall proceed to incorporate a public corporation by filing of record in the office of the Secretary of State a certificate of incorporation which shall comply in form and substance with the requirements of this section and be executed in the manner provided in this section. (b) The certificate of incorporation of the authority shall state: (1) The names of the persons incorporating the authority, together with their post office addresses and a statement that each of them is a qualified elector of the state; (2) The name of the authority (which shall include the words "historical preservation authority"); (3) The location of the principal office...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-139.htm - 2K - Match Info - Similar pages
11-15-4
Section 11-15-4 Certificate of incorporation - Contents; approval. The certificate of incorporation of the corporation shall state: (1) The names of the persons forming the corporation together with the residence of each thereof and a statement that each of them is a duly qualified elector of and property owner in the county; (2) The name of the corporation; (3) The location of its principal office, which shall be in the county seat of the county; (4) The number of directors (which shall be three or a multiple of three); and (5) Any other matters relating to the corporation which the incorporators may choose to insert and which shall not be inconsistent with this chapter or with the laws of the state. The name designated for the corporation in the certificate of incorporation shall be one indicating the purpose thereof, such as "___ County Public Building Authority" (the name of the county to be filled in the blank space) or some other name of similar import. The form and contents...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-15-4.htm - 2K - Match Info - Similar pages
45-49A-10.01
Section 45-49A-10.01 Certificate of incorporation. The certificate of incorporation of the corporation shall state: The names of the persons forming the corporation, together with the residence of each thereof and a statement that each of them is a duly qualified elector of and property owner in the City of Bayou La Batre; the name of the corporation; the location of its principal office which shall be in the City of Bayou La Batre; and any other matters relating to the corporation which the incorporators may choose to insert and which shall not be inconsistent with this article or with the laws of the state. The name designated for the corporation and the certificate of incorporation shall be one indicating the purpose thereof, such as the City of Bayou La Batre Port Authority or some other name of similar import. The certificate of incorporation shall be signed and acknowledged by the incorporators before an officer authorized by the laws of the state to take acknowledgements of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-49A-10.01.htm - 1K - Match Info - Similar pages
9-10-31
Section 9-10-31 Certificate of incorporation - Contents; execution. (a) The certificate of incorporation of the corporation shall state: (1) The names of the persons forming the corporation together with the residence of each thereof and a statement that each of them is a duly qualified elector of and property owner in the county; (2) The name of the corporation; (3) The location of its principal office, which shall be in the county seat of the county; and (4) Any other matters relating to the corporation which the incorporators may choose to insert and which shall not be inconsistent with this article or with the laws of the state. The name designated for the corporation in the certificate of incorporation shall be one indicating the purpose thereof, such as "_____ County Water Conservation and Irrigation Corporation" or some other name of similar import. (b) The certificate of incorporation shall be signed and acknowledged by the incorporators before an officer authorized by the laws...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-10-31.htm - 1K - Match Info - Similar pages
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