16-13-71
Section 16-13-71 Terms and conditions; sale; use of proceeds. (a) Warrants issued pursuant to the provisions of this article may bear such rate or rates of interest, not exceeding 12 percent per annum, payable semiannually (provided that the first interest payment date may be at any time not later than nine months after the date of such warrants), may be in such denomination or denominations, may have such maturity or maturities not exceeding 30 years from their date (provided that warrants payable, as to both principal and interest, out of the proceeds of any privilege, license or excise tax or taxes, may have a maturity or maturities not exceeding 40 years from their date), may be made redeemable prior to maturity at the option of the issuing board of education at such redemption price or prices and on such terms and conditions, may be payable at such place or places within or without this state, may be executed in such manner and may contain such terms and details not in conflict...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-13-71.htm - 2K - Match Info - Similar pages
22-21-320
Section 22-21-320 Securities of authority. Securities of an authority may be executed and delivered by it at any time and from time to time, shall be in such form and denominations and of such tenor and maturity or maturities not exceeding 40 years from their date, shall bear such rate or rates of interest (which may be fixed or which may float or vary based on some index or other standard deemed appropriate by the board), shall be payable and evidenced in such manner, may contain provisions for redemption prior to maturity and may contain other provisions not inconsistent with this article, all as may be provided by the resolution of the board authorizing the same or by the indenture whereunder such securities are authorized to be issued. Each such security having a specified maturity date more than 10 years after its date shall be made subject to redemption at the option of the authority at the end of the tenth year after its date, and on any interest payment date thereafter, under...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-320.htm - 1K - Match Info - Similar pages
11-61A-13
Section 11-61A-13 Bonds. (a) The authority may issue and sell its interest-bearing revenue bonds for any corporate purpose at any time or times. The principal of and the interest on the 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 parking facilities and other property, or by mortgage of any property of the authority. The bonds issued or contracts entered by the authority shall not constitute or create an obligation, debt, or charge against the credit or taxing power of the state, any county, or municipality within the state. (b) The board may provide for each of the following regarding the bonds: (1) Issuance time or times. (2) Form and denominations. (3) Tenor. (4) Payment installments, which shall be at a time or times not exceeding 40 years from their date. (5) Place or places of payment, whether within or without the state. (6) Interest rate or rates payable and evidenced in a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-61A-13.htm - 2K - Match Info - Similar pages
11-88-7.1
Section 11-88-7.1 Additional powers. (a) Any authority organized or operating pursuant to Chapter 88 of Title 11 shall, in addition to all other powers now or hereafter granted by law, have the following powers and rights: (1) To borrow money for temporary use for any of its corporate purposes and, in evidence of such borrowing, to issue from time to time revenue bonds or notes maturing not later than 36 months from the date of issuance. Any such temporary borrowing may be made in anticipation of the sale and issuance of long-term revenue bonds, and in such event, the principal proceeds from the sale of such long-term revenue bonds shall, to the extent necessary, be used for payment of the principal of and the interest on the temporary revenue bonds or notes issued in anticipation of the sale and issuance of such long-term revenue bonds. Any such temporary borrowing may also be made with respect to a project simultaneously with or after the sale and issuance of long-term revenue bonds...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-88-7.1.htm - 5K - Match Info - Similar pages
11-97-9
Section 11-97-9 Bonds of corporation generally. (a) Any corporation 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 sufficient funds for achieving any of its corporate purposes, including the payment of interest on any of its bonds, the establishment of reserves to secure any such bonds and all other expenditures of such corporation incident to and necessary or convenient to carry out its corporate purposes and powers. Any corporation shall also have the power to issue from time to time bonds to renew bonds and bonds to pay bonds, including interest thereon and, whenever it deems refunding expedient, to refund any bonds by the issuance of new bonds, whether the bonds to be refunded have or have not matured, and to issue bonds partly to refund bonds then outstanding and partly for any other of its corporate purposes. (b) The bonds issued by any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-97-9.htm - 4K - Match Info - Similar pages
16-16B-5
Section 16-16B-5 (Implementation Conditioned on Separate Legislative Enactment.) Sale of the bonds. The Bonds may be sold by the Authority from time to time in series, and if sold in more than one series, may all be authorized in one initial resolution of the Authority with the pledges therefor made by the Authority in such initial resolution although some of the details applicable to each series may be specified in the respective resolutions under which the different series are issued. The Authority, in the course of establishing, by resolution, a principal amount of Bonds to be authorized for sale at any given time, or to be sold in any series, may take into account the existence of any unexpended proceeds of prior issues of bonds of the Authority (and of any other issuer, if such should be deemed by the Authority to be relevant), and may structure the portions of the allocations provided for in Section 16-16B-9 to be distributed from the proceeds of a particular series (constituting...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-16B-5.htm - 3K - Match Info - Similar pages
23-1-175.1
Section 23-1-175.1 Infrastructure improvements. (a) In order to accomplish infrastructure improvements contemplated for the benefit of the Alabama State Docks, the Alabama Highway Finance Corporation shall have the following powers, in addition to all powers set forth in this article. (1) To borrow money and issue its bonds in evidence thereof, in a principal amount not to exceed one hundred fifty million dollars ($150,000,000), for the purpose of financing the widening and deepening of the Mobile Ship Channel and improvements related thereto. No bond issued by the corporation for this purpose shall have a specified maturity date later than twenty years after its issuance date. (2) To issue from time to time one or more series of refunding bonds for the purpose of refunding any bonds issued pursuant to subdivision (1) or bonds previously issued to refund such bonds, in any case, however, having a final maturity that is not later than the final maturity of the bonds being refunded. (3)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-1-175.1.htm - 3K - Match Info - Similar pages
33-2-185
Section 33-2-185 Docks facilities revenue bonds and refunding bonds - Sale. Docks facilities revenue bonds and refunding bonds may be sold by the department from time to time in series, and if sold in more than one series may all be authorized in one initial order of the director with the pledges therefor made in such initial order, notwithstanding that details applicable to each series may be specified in the respective orders under which such series are issued. Each series of the docks facilities revenue bonds or refunding bonds may be sold at public or private sale, as determined by the director, at such price or prices as the director shall determine, and if sold at public sale either on sealed bids or at public auction, to the bidder whose bid reflects the lowest true interest cost to the department for the series of the docks facilities revenue bonds or refunding bonds being sold, computed from the date of those at the time being sold to their respective maturities and taking...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-2-185.htm - 3K - Match Info - Similar pages
33-2-201
Section 33-2-201 Special purpose obligations. (a) The department, from time to time, may issue special purpose obligations, which shall be limited obligations of the department payable from and secured solely by a pledge of private facility payments made by or on behalf of one or more commercial enterprises for the right to use the private facilities financed thereby and shall not be payable from docks facilities revenues or otherwise give rise to any liability on the part of the department other than the private facility payments pledged as security therefor. No special purpose obligation shall give rise to any liability or constitute a debt or obligation of the state or a charge against its credit or taxing powers. (b) Any special purpose obligations shall be issued pursuant to a resolution of the board of directors of the department. As security for the payment of any special purpose obligations, the department is authorized to pledge for the payment of the obligations any private...
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41-10-626
Section 41-10-626 Bonds of the authority. (a) General. The authority is authorized from time to time to sell and issue its bonds in limited amounts and for the purpose of promoting economic development and industrial recruitment as specified by the Legislature from time to time by separate act, provided that refunding bonds may be issued by the authority pursuant to Section 41-10-627 without first obtaining separate authorization from the Legislature. (b) Sources of payment. Bonds issued by the authority shall be solely and exclusively an obligation of the authority and shall not create an obligation or debt of the state. Such bonds shall not be general obligations of the authority but shall be payable solely from one or more of the following sources: (1) Appropriated funds. (2) The income or proceeds realized by the authority under any mortgage or security granted to the authority. (3) Amounts derived from any letter of credit, insurance policy, or other form of credit enhancement...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-626.htm - 5K - Match Info - Similar pages
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