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16-3-28
Section 16-3-28 Authority of board and trustees of institutions to borrow from federal agencies
or others; issuance of bonds, notes and other securities. (a) The State Board of Education,
acting for the respective educational institutions under its supervision, and each public
corporation that conducts one or more state educational institutions under its supervision,
acting through its board of trustees or other governing body, are hereby separately authorized
to exercise and perform any or all of the following powers: (1) To borrow money from the United
States of America or any department or agency thereof, or from any person, firm, corporation
or other lending agency for the purchase, construction, enlargement or alteration of any buildings
or other improvements, including dormitories, dining halls, classrooms, laboratories, libraries,
stadiums, administration buildings and any other buildings and appurtenances thereto suitable
for use by the institution with respect to which the...
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22-29-20
Section 22-29-20 Grants to local public bodies - Plan or program. The plan or program for funding
the grant by the authority to a local public body for a project may be any one or more of
the following, as shall be approved by the authority: (1) An appropriation by the state. (2)
A grant by a corporation, foundation, fund or agency, public or private, to the state for
the purpose of abating water pollution or assisting local public bodies with their projects;
provided, that the state shall not receive any grant from a local public body which has received
or is to receive a grant for its project from the state. (3) The undertaking by the local
public body to levy, collect and pay over to the authority and to continue to levy, collect
and pay over to the authority sums sufficient to pay bond service charges with respect to
the bonds of the authority issued to fund a grant for such project the proceeds of any one
or more of the following: a. Any sewer or waste disposal service fee or...
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45-46-90.01
Section 45-46-90.01 Definitions. (a) Wherever used in this article, unless a different meaning
clearly appears in the context, the following terms and others evidently intended as the equivalent
thereof, shall be given the following respective interpretations: (1) APPLICANT. A natural
person who files a written application with the governing body of Marengo County, or with
the governing body of any municipality in such county in accordance with Section 45-46-90.02.
(2) AUTHORITY. A public corporation organized pursuant to this article. (3) AUTHORIZING COUNTY.
Marengo County, Alabama, provided the governing body thereof shall have adopted an authorizing
resolution. (4) AUTHORIZING MUNICIPALITY. Any municipality in the county, the governing body
of which shall have adopted an authorizing resolution. (5) AUTHORIZING RESOLUTION. The resolution
that authorizes the incorporation of an authority, adopted by the governing body of the county
or the governing body of any municipality in the...
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11-62-8
Section 11-62-8 Bonds and notes generally - Form, terms, denominations, etc.; execution, sale,
delivery, redemption, etc.; security for payment of principal or interest; remedies upon default;
liability of municipalities, board, etc., thereupon. (a) Any authority shall have power to
issue from time to time its bonds and notes in such principal amount 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 notes and bonds, the establishment of reserves to secure
any such notes and bonds and all other expenditures of such authority incident to and necessary
or convenient to carry out its corporate purposes and powers. Any authority shall also have
the power to issue from time to time notes to renew notes and bonds to pay notes, 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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-62-8.htm - 12K - Match Info - Similar pages
11-89A-2
Section 11-89A-2 Definitions. The following words and phrases used in this chapter, and others
evidently intended as the equivalent thereof, shall, in the absence of a clear implication
herein otherwise, be given the following respective interpretations herein: (1) APPLICANT.
A natural person who files a written application with the governing body of any county or
municipality in accordance with the provisions of Section 11-89A-3. (2) AUTHORITY. Any public
corporation organized pursuant to the provisions of this chapter. (3) AUTHORIZING RESOLUTION.
A resolution or ordinance adopted by the governing body of any county or municipality in accordance
with the provisions of Section 11-89A-3, that authorizes the incorporation of an authority.
(4) BOARD. The board of directors of an authority. (5) BONDS. Bonds, notes, or other obligations
representing an obligation to pay money. (6) COSTS. As applied to a facility or any portion
thereof, such term shall include all or any part of the cost of...
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11-94-15
Section 11-94-15 Liability of authorizing subdivisions upon bonds, obligations and agreements
of authority; other actions by authorizing subdivisions to attain objectives of chapter. (a)
Neither of the authorizing subdivisions of an authority shall in any event be liable for the
payment of the principal of, interest and premium, if any, on any bonds of an authority or
for the performance of any pledge, assignment, indenture, obligation or agreement of any kind
whatsoever which may be undertaken by an authority and none of the bonds of an authority or
any of its agreements or obligations shall be construed to constitute an indebtedness of any
authorizing subdivision within the meaning of any constitutional or statutory provision whatsoever.
(b) For the purpose of attaining the objectives of this chapter, either of the authorizing
subdivisions, any other county or municipality of the state, and any other political subdivision,
public corporation, agency or instrumentality of the state or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-94-15.htm - 3K - Match Info - Similar pages
23-1-313
Section 23-1-313 Bonds and notes - Disposition of proceeds from sale. The authority shall pay
out of the proceeds from the sale of the obligations authorized by this article all expenses
that the board of directors may deem necessary and advantageous in connection with the sale
and issuance thereof. The proceeds from the issue of any obligations authorized by this article,
(i) except the proceeds of bonds which were issued to pay principal and interest of temporary
bonds or notes and in anticipation of which such temporary bonds or notes shall have been
issued, and (ii) except the proceeds of refunding bonds issued to refund any outstanding obligation,
remaining after paying the expenses of their sale and issuance, shall be deposited in the
State Treasury, shall be credited to the Road and Bridge Fund and shall be subject to be withdrawn
by the authority, upon the approval of the State Department of Transportation and the Governor,
but only for the purpose of paying the federal share...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-1-313.htm - 3K - Match Info - Similar pages
41-10-451
Section 41-10-451 Definitions. (1) AUTHORITY. The public corporation organized pursuant to
the provisions of this article. (2) BONDS. Those bonds, including refunding bonds, authorized
to be issued by the authority pursuant to act of the Legislature. (3) 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 United States of America or
in specified portions thereof (which may consist of the principal thereof or the interest
thereon). (4) PERMITTED INVESTMENTS. (i) Government securities; (ii) bonds, debentures, notes
or other evidences of indebtedness issued by any of the following...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-451.htm - 4K - Match Info - Similar pages
41-10-260
Section 41-10-260 Definitions. The following terms, wherever used in this article, shall have
the following respective meanings unless the context clearly indicates otherwise: (1) AUTHORITY.
The public corporation organized pursuant to the provisions of this article. (2) BOARD OF
DIRECTORS. The board of directors of the authority. (3) BONDS. When used with reference to
debt instruments issued by the authority, means bonds, notes and other forms of indebtedness.
(4) BUILDING COMMISSION. The Building Commission created by Act No. 128 adopted at the 1945
Regular Session of the Legislature of the state, and any successor agency thereto. (5) CHIEF
JUSTICE. The Chief Justice of the Supreme Court of the State of Alabama. (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...
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11-47-226
Section 11-47-226 Loans, donations, performance of services, etc., by county, municipality,
or other political subdivision, etc., to achieve objectives of article; funding agreements;
amount of indebtedness under funding agreements. (a) For the purpose of attaining the objectives
of this article, any county, municipality, or other political subdivision, or public corporation,
agency, or instrumentality of the state, a county, or municipality, may, upon such terms and
with or without consideration, as it may determine, do any or all of the following: (1) Lend
or donate money to an authority or perform services for the benefit thereof. (2) Donate, sell,
convey, transfer, lease, or grant to an authority, without the necessity of authorization
at any election of qualified voters, any property of any kind. (3) Do any and all things,
whether or not specifically authorized in this section, not otherwise prohibited by law, which
are necessary or convenient to aid and cooperate with an...
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