11-92A-12
Section 11-92A-12 Powers of authority. An authority shall have the following powers, which it may exercise in any county within such authority's authorized operational area: (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 trial court other than the courts of a county within the authorized operational area of the authority; provided, further, that the officers, directors, agents, and employees of an authority may not be sued for their actions in behalf of the authority except for actions that are known by such person to be unlawful or are performed with reckless disregard for the lawfulness of such 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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-92A-12.htm - 6K - 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
45-37A-54.67
Section 45-37A-54.67 Borrowing; revenue bonds. The authority shall have the power to borrow money and to issue revenue bonds as evidence of any money so borrowed, which bonds shall be payable solely from the revenues derived from the fairs, exhibitions, amusements, and other activities and enterprises in which the authority is hereby authorized to engage. As security for any money so borrowed, together with interest thereon and any obligations incurred or assumed, the authority may mortgage, pledge, or otherwise transfer and convey its real, personal, and mixed property, or any part or parts thereof, whether then owned or thereafter acquired, including any franchises then owned or thereafter acquired, and all or any part of the revenues derived from the fairs, exhibitions, amusements, and other activities and enterprises in which the authority is hereby authorized to engage. The instrument whereunder such mortgage or pledge shall be made may contain such agreements as the authority...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-54.67.htm - 3K - Match Info - Similar pages
2-6-76
Section 2-6-76 Powers of corporation - Issuance and sale of securities. (a) The corporation is authorized to issue and sell its interest-bearing or noninterest-bearing securities, in one or more series, not exceeding $6,000,000.00, in aggregate principal amount, to provide funds to be used by the Board of Agriculture and Industries in the construction, acquisition and installation of a market facility and to be used by the Agricultural Center Board in the renovation of the coliseum. (b) The principal of, premium, if any, and interest on any securities or series of securities of the corporation the proceeds of which are devoted to the construction, acquisition and installation of the market facility shall be payable from and secured by a pledge of all rents, leases, charges or other revenues derived or realized from leases to the public of said market facility after deduction of costs of operation. The principal of, premium, if any, and interest on any securities or series of securities...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-6-76.htm - 5K - Match Info - Similar pages
22-3A-2
Section 22-3A-2 Definitions. The following words and phrases used in this chapter, unless the context clearly indicates otherwise, shall have the following respective meanings: (1) AUTHORITY. The public corporation organized pursuant to the provisions of this chapter. (2) BONDS. The bonds issued under the provisions of this chapter. (3) COUNTY BOARD(S) OF HEALTH. County board(s) of health provided for in Chapter 3 of Subtitle 1 of Title 22. (4) DIRECTORS. The board of directors of the authority. (5) GOVERNMENT SECURITIES. Any bonds or other obligations which as to principal and interest constitute direct obligations of, or are unconditionally guaranteed by, the United States of America, including obligations of any federal agency to the extent such obligations are unconditionally guaranteed by the United States of America and any certificates or any other evidences of an ownership interest in such obligation of, or unconditionally guaranteed by, the United States of America or in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-3A-2.htm - 5K - Match Info - Similar pages
11-50-262
Section 11-50-262 Borrowing of money and issuance of revenue bonds therefor; execution of mortgages, pledges, etc., as security for indebtedness; provisions in same as to rights of parties thereto, etc.; sale of gas to municipalities authorized. (a) Any waterworks board shall also have the power to borrow money and to issue revenue bonds as evidence of any money so borrowed, which bonds shall be payable solely from the revenues derived from the operation of such gas plant and system. As security for any money so borrowed, together with interest thereon and any obligations incurred or assumed, the board shall have the power to mortgage, pledge, or otherwise transfer and convey its real, personal, and mixed property or any part or parts thereof, whether then owned or thereafter acquired, including its franchises owned and thereafter acquired and all or any part of the revenues derived from such plant or system or any part thereof. The instrument whereunder such mortgage or pledge shall...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50-262.htm - 1K - Match Info - Similar pages
16-18B-2
Section 16-18B-2 Definitions. Where used in this article the following words and terms shall be given the following respective meanings unless the context hereof clearly indicates otherwise: (1) AMENDMENT. The amendment to the constitution of the state authorizing the issuance of the bonds. (2) CORPORATION. The public corporation authorized to be created by this article. (3) BOARD OF DIRECTORS. The board of directors of the corporation. (4) BONDS. The bonds issued under this article. (5) CODE. The Code of Alabama 1975, as amended. (6) GOVERNMENT SECURITIES. Any bonds or other obligations which as to principal and interest constitute direct obligations of, or are unconditionally guaranteed by, the United States of America, including obligations of any federal agency to the extent such obligations are unconditionally guaranteed by the United States of America and any certificates or any other evidences of an ownership interest in such obligations of, or unconditionally guaranteed by, the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-18B-2.htm - 5K - 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
11-101A-14
Section 11-101A-14 Securities payable out of revenues from projects, properties, etc., indenture may contain agreements; liens. (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 project or other properties or assets, including, without limitation, proceeds from the securities, investment income and insurance, and condemnation proceeds, owned by it, all as may be provided or specified in the resolution of the board authorizing the 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 out of which the same are payable and may be secured by an indenture conveying as security for the securities all or any part of its property, which indenture may be subject to foreclosure. (b) Any indenture executed on behalf of the authority and any resolution of the board...
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9-14A-3
Section 9-14A-3 Definitions. Where used in this chapter the following words and terms shall be given the following respective meanings unless the context hereof clearly indicates otherwise: (a) AMENDMENT. Amendment 617 to the Constitution of Alabama of 1901, authorizing the issuance of the bonds. (b) CORPORATION. The respective public corporations authorized to be created by this chapter. (c) BOARD OF DIRECTORS. The respective board of directors of the corporations. (d) BONDS. The bonds issued under the provisions of this chapter. (e) CODE. The Code of Alabama 1975, as amended. (f) GOVERNMENT SECURITIES. Any bonds or other obligations which as to principal and interest constitute direct obligations of, or are unconditionally guaranteed by, the United States of America, including obligations of any federal agency to the extent the obligations are unconditionally guaranteed by the United States of America and any certificates or any other evidences of an ownership interest in such...
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