16-16-14
Section 16-16-14 Use of bond proceeds for loans to local boards of education. The proceeds derived from the sale of any bonds issued pursuant to subsection (b) of Section 3 of Act 98-373 shall be deposited in the State Treasury and shall be carried in a separate fund therein for the account of the authority, which shall pay therefrom the expenses of issuance thereof. The proceeds from the sale of the bonds remaining after payment of the expenses of issuance thereof shall be retained in such fund and, until they are paid out, shall be invested by the State Treasurer at the direction of the authority in permitted investments which mature at such time or times as the authority shall direct. Monies in the fund (whether original proceeds from the sale of the bonds or principal proceeds of matured permitted investments) shall be available for loan by the authority. The authority is hereby authorized to loan, and each local board of education is hereby authorized to borrow, such monies under...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-16-14.htm - 3K - Match Info - Similar pages
24-3-4
Section 24-3-4 Powers, rights, etc., of housing authorities, etc., with respect to urban renewal projects generally; surveys and plans. An authority shall have all the powers necessary or convenient to undertake and carry out urban renewal plans and urban renewal projects, including the authority to acquire and dispose of property, to make payments to persons and businesses displaced by the acquisition and disposal of any property, to issue bonds and other obligations, to borrow and accept grants from the federal government or other source, and to exercise the other powers which Chapter 2 of this title confers on an authority with respect to redevelopment projects. In connection with the planning and undertaking of any urban renewal plan or urban renewal project, the authority, the municipality, and all public and private officers, agencies, and bodies shall have all the rights, powers, privileges, and immunities which they have with respect to a redevelopment plan or redevelopment...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/24-3-4.htm - 3K - Match Info - Similar pages
45-29-90.01
Section 45-29-90.01 Tom Bevill Reservoir Management Area. In the interest of unified development and protection, there is hereby created and established the Tom Bevill Reservoir Management Area in Fayette County for the purposes of water conservation and supply, dam construction and reservoir development, industrial development, navigation, flood control, irrigation, public recreation, and related purposes. There is hereby authorized, and shall be established as hereinafter provided, a development authority for the lands included in the Tom Bevill Reservoir Management Area. The authority, when incorporated in accordance herewith, shall be a public corporation and a political subdivision of the State of Alabama, composed of a board of directors selected and empowered as hereinafter provided. (Act 91-277, p. 517, ยง2.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-29-90.01.htm - 1K - Match Info - Similar pages
22-29-7
(1) To have succession in its corporate name until the principal of and interest on all bonds issued by it shall have been fully paid; (2) To maintain actions and have actions maintained against it and to prosecute and defend in any court having jurisdiction of the subject matter and of the parties; (3) To have and to use a corporate seal and to alter such seal at pleasure; (4) To establish a fiscal year; (5) To acquire in any manner and to hold title to or leasehold interests in real and personal property and to sell, convey or lease the same for the purpose of carrying out its functions and duties under this chapter; (6) To construct and operate or lease to or from any local public body any project; (7) To agree to make and to make state grants to any local public body to assist in financing any project; (8) To execute agreements effectively obligating the state to pay to a local public body such portion of the estimated reasonable cost of the project of such local public body as...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-29-7.htm - 2K - Match Info - Similar pages
41-29-503
availability of labor in the locality of the grantee and to classify such labor in terms of skills and educational level. (3) The preparation of project sites. (4) Any combination of any of the foregoing which the grantees consider appropriate and necessary for the promotion of industrial development in their respective localities. (b) Provided, however, that 20 percent of the grant funds shall be expended specifically in rural areas of the state and/or areas with high unemployment and low personal income levels. The Director of the State Industrial Development Authority shall report annually to the Chairs of the House Ways and Means, General Fund Committee and the Senate Finance and Taxation, General Fund Committee and the Legislative Fiscal Officer the status of all grants allotted and specifically those grants allotted in rural areas of the state and/or areas with high unemployment and low personal income levels. (c) Every grant of money made by the authority, any part of which is...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-29-503.htm - 4K - Match Info - Similar pages
14-2-12
Section 14-2-12 Bonds - Authorization. (a) For the purpose of providing funds for the acquisition of sites, for the construction, reconstruction, alteration and improvement of facilities, for the procurement and installation of equipment therefor and for payment of obligations incurred and the principal of and interest on any temporary loans made for any of the said purposes, the authority is hereby authorized, from time to time, to sell and issue, in addition to all bonds heretofore authorized to be issued by the authority, its bonds in such aggregate principal amounts as may be determined by the corporation to be necessary for the said purposes but not to exceed $25,000,000, plus an additional seven million five hundred thousand dollars ($7,500,000) pursuant to Act 97-950, in aggregate principal amount. (b) In addition to the authorization provided in subsection (a), the authority is hereby authorized, from time to time, to sell and issue its bonds in amounts determined by the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/14-2-12.htm - 2K - Match Info - Similar pages
16-18A-4
Section 16-18A-4 Powers and duties. The purpose of the authority shall be to assist institutions for higher education in the construction, financing and refinancing of the projects. The exercise by the authority of the powers conferred by this chapter shall be deemed and held to be the performance of an essential public function. For the purpose of this chapter, the authority shall have the powers and duties set forth in this section. (1) To adopt an official seal and alter the same at its pleasure. (2) To sue and be sued in contract and in tort and to complain and defend in all courts of law and equity. (3) To maintain an office at such place or places as it may designate. (4) To determine the location and character of any project financed under this chapter, to acquire, construct, reconstruct, remodel, maintain, manage, enlarge, alter, add to, repair, operate, lease as lessee or lessor, sell or otherwise dispose of, any project in any manner it deems to the best advantage of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-18A-4.htm - 6K - Match Info - Similar pages
16-60-197
Section 16-60-197 Additional vocational trade schools authorized. The State Board of Education is hereby authorized, empowered and directed to establish and provide for the construction of three new vocational trade schools in this state in addition to the trade schools heretofore provided by law, to be located at such places as will make such schools conveniently accessible to all areas of Alabama. The cost of constructing such schools shall be paid out of the proceeds realized from any bonds issued and sold by the State Board of Education or any other authority of this state for the purpose of financing the construction of public school buildings or from any other funds made available for the construction of trade schools. The first $750,000.00 made available for expenditure on trade schools through the issuance and sale of bonds shall be allocated to the State Board of Education for the purpose of acquiring land, constructing buildings, reconstructing, altering and improving...
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40-9B-5
Section 40-9B-5 Granting of abatement. (a) Subject to the geographical or jurisdictional or other limitations specified in subsections (b), (c), and (d), the governing body of a municipality, a county, or a public industrial authority may grant abatements of all of the taxes allowed to be abated under Section 40-9B-4 with respect to private use industrial property. (b)(1) The abatements authorized to be granted pursuant to subsection (a) for construction related transaction taxes and for ad valorem taxes for a period not to exceed 10 years may be granted: a. By the governing body of a municipality, except as otherwise provided herein, with respect to private use industrial property located within the limits of the municipality or within the police jurisdiction of the municipality; provided, however, if a municipality has a corresponding municipal tax, the municipal governing body may only grant an abatement of a county tax if the municipality has also abated the corresponding municipal...
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11-32-13
Section 11-32-13 Powers of localities, agencies, etc. For the purpose of securing public transportation or aiding or cooperating with the authority in the planning, development, undertaking, construction, acquisition, extension, improvement, operation, or protection of transit systems, any county, municipality or other political subdivision, public corporation, agency, or instrumentality of this state, upon the terms and with or without consideration, as it determines, may do the any of the following: (1) Lend or donate money to, or perform services for the authority. (2) Donate, sell, convey, transfer, lease, or grant to the authority, without the necessity of authorization at any election of qualified voters, any property of any kind, including, but without limitation, any transportation systems, any interest in any system, and any franchise. (3) Provide that all or a portion of the taxes or funds available or to become available to, or required by law to be used by it for public...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-32-13.htm - 1K - Match Info - Similar pages
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