5-12A-7
Section 5-12A-7 Investment of estate moneys in fund; withdrawals. The trust institution shall
invest the moneys of an estate (whether the estate is administered by such trust institution
or by an affiliated trust institution) in such common trust fund by adding the same thereto
and by apportioning a participation therein to such estate in the proportion that the moneys
of the estate added thereto bears to the aggregate value of all the securities of such fund
at the time of such investment, including in such securities the moneys of the estate so added.
The withdrawal of a participation of such common trust fund shall be on the basis of its proportionate
interest in the aggregate value of all the securities of such fund at the time of such withdrawal,
as hereinafter provided. The participating interest of any estate in such common trust funds
may, from time to time, be withdrawn in whole or in part by the trust institution administering
the estate and shall be withdrawn within a period...
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4-3-14
Section 4-3-14 Issuance and sale of bonds by authority; form, denominations, terms, etc., of
bonds. The authority shall have the power and is hereby authorized at any time and from time
to time to issue and sell its interest-bearing revenue bonds for any of its corporate purposes.
The principal of and the interest on all such bonds shall be payable solely from, and may
be secured by a pledge of, the revenues derived by the authority from the operation of any
or all of its airports, heliports, facilities and other property. None of the bonds issued
or contracts entered into by the authority shall ever constitute or create an obligation or
debt of the state or of any county, city or town within the state, or a charge against the
credit or taxing powers of the state or of any county, city or town within the state. Bonds
of the authority may be issued at any time and from time to time, may be in such form and
denominations, may be of such tenor, may be payable in such installments and at...
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4-3-51
Section 4-3-51 Bonds - Issuance and sale generally; payment of principal and interest generally;
form, denominations, terms, etc. The authority shall have the power and is hereby authorized
at any time and from time to time to issue and sell its interest-bearing revenue bonds for
any of its corporate purposes. The principal of and the interest on all such bonds shall be
payable solely from, and may be secured by a pledge of, the revenues derived by the authority
from the operation of any or all of its airports, heliports, facilities and other property.
None of the bonds issued or contracts entered into by the authority shall ever constitute
or create an obligation or debt of the state or of any county or municipality within the state,
or a charge against the credit or taxing powers of the state or of any county or municipality
within the state. Bonds of the authority may be issued at any time and from time to time,
may be in such form and denominations, may be of such tenor, may be...
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41-10-45.2
Section 41-10-45.2 Fund created; project obligations. (a) There is created the Accelerate Alabama
Fund, which may consist of monies appropriated or otherwise made available by the Legislature
in any manner, proceeds of project obligations issued by the authority, and monies from any
other source designated for deposit into such fund, but not including monies subject to a
constitutional designation for some other purpose. Unexpended amounts remaining in the fund
at the end of each fiscal year of the state shall not lapse into the State General Fund. Any
investment earnings or interest earned on amounts in the fund and all loan payments of principal
and/or interest shall be deposited to the credit of the fund. (b) In addition to the purposes
for which the authority may issue project obligations, the authority is hereby authorized
to issue project obligations to provide money for the fund. Project obligations shall be issued
as provided in Section 41-10-44.6, subject, however, to the...
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45-17-91.23
Section 45-17-91.23 Creation of Shoals Economic Development Fund; purposes for which moneys
in such fund may be expended. (a) There is created the Shoals Economic Development Fund, which
shall be a special or trust fund or account of the committee, and which shall be administered
in accordance with this subpart. (b)(1) The authority may, at any time and from time to time,
request that the committee authorize and approve the expenditure or appropriation of moneys
on deposit in the Shoals Economic Development Fund, but solely for purposes authorized in
subsection (c). Any such request may specify that such moneys shall be expended by, or appropriated
directly or indirectly to, any of the following: a. The authority itself. b. Either of the
counties, or any city or town located, in whole or in part, in either of the counties. c.
Any public corporation that has been organized with the approval or consent of any one or
more of the counties, the municipalities, or any other city or town in...
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22-29-11
Section 22-29-11 Temporary financing. In anticipation of the issuance of bonds, the authority
may borrow such sums as may be needed, not exceeding $500,000.00 to be outstanding at any
one time, for any of the purposes enumerated in this chapter and to obligate itself by certificate
or promissory note, bearing interest at a rate or rates to be specified by the authority,
and maturing within 18 months from date. Such certificates or promissory notes shall be payable
solely from the proceeds of the bonds of the authority and from the funds from which such
bonds are payable. In the event that state funds are not available for a state grant for a
project when application is made, in order to accelerate the completion of any project, the
local public body may, with the approval of the authority, obligate such local public body
to provide local funds to pay that portion of the cost of the project which the state will
make available by grant, and the state shall refund the amount expended on...
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22-3A-8
Section 22-3A-8 Issuance of bonds. For the purposes of acquiring, constructing, installing
and equipping public health facilities, the authority is hereby authorized to issue and sell
from time to time its bonds, which bonds may be in the form of interest-bearing bonds or noninterest-bearing
bonds. Other than refunding bonds, the aggregate principal amount of bonds issued under this
chapter shall not exceed $45,000,000.00; provided, however, that, if the authority determines
that the total net amount of bond proceeds available to provide funds for paying the costs
of acquiring, constructing, improving, and equipping public health facilities (excluding underwriting
discount, other issuance expenses and 10 percent of the principal amount of such bonds to
be used to capitalize or fund a debt service reserve fund as authorized by Section 22-3A-16(b)),
plus the interest income, not exceeding $2,000,000.00, earned on such net amount of bond proceeds
pending expenditure thereof, will be less...
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45-30-250.06
Section 45-30-250.06 Additional powers and rights. (a) The authority, in addition to all other
powers now or hereafter granted by law, shall have the following powers and rights: (1) To
borrow money for use for any of its corporate purposes. (2) To sell, transfer, convey, grant
options to purchase, or lease all or any part of its system or systems for consideration and
on terms deemed advisable and in the best interest of the authority. (3) To consent and agree
to the assignment or payment of any income received from the investment of any moneys or funds
of the authority to any other public corporation or public entity, including, without limitation,
the county or the state. (4) To loan or advance its funds to any person with or without interest
as it shall determine, for the purpose of financing the construction of a system or any part
thereof. (5) To contract with others for the construction of all or any part of a system or
systems. (b) The moneys held in any special fund...
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23-1-315
Section 23-1-315 Investment of funds; pledge of interest from investments. Any funds held as
the proceeds of obligations issued by the authority under this article and any funds held
by the State Treasurer in the sinking fund provided for the payment of such obligations shall
be invested in obligations of the United States of America or in certificates of deposit secured
by a deposit of obligations of the United States of America to the full amount of such certificates
of deposit, and in investment agreements, repurchase agreements, or other investment arrangements
fully collateralized by any of the foregoing, and the interest to be earned on such investment
of funds may be pledged by the authority to the payment of the principal of and interest on
the obligations issued by the authority under this article. (Acts 1976, No. 565, p. 764, §16;
Act 2014-105, p. 169, §1.)...
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45-25-250.05
Section 45-25-250.05 Additional powers and rights. (a) The authority organized or operating
pursuant to this article shall, in addition to all other powers now or hereafter granted by
law, have the following powers and rights: (1) To borrow money for use for any of its corporate
purposes. (2) To sell, transfer, convey, grant options to purchase, or lease all or any part
of its system or systems for such consideration and on such terms as it shall deem advisable
and in the best interest of the authority. (3) To consent and agree to the assignment or payment
of any income received from the investment of any moneys or funds of the authority to any
other public corporation or public entity, including, without limitation, the county, of the
State of Alabama. (4) To loan or advance its funds to any person, at such, if any, interest
as it shall determine, for the purpose of financing the construction of a system or any part
thereof. (5) To contract with others for the construction of all or...
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