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11-60-3
Section 11-60-3 Application for authority to form corporation; adoption of resolution by governing
body authorizing incorporation; execution, acknowledgment, and filing of certificate of incorporation
generally; effect of granting of authority for incorporation upon incorporation of other such
corporations. (a) Whenever any number of natural persons, not less than three, shall file
with the governing body of any municipality of this state an application in writing for authority
to incorporate a public corporation under the provisions of this chapter and shall set forth
in said application a brief description of the project to be acquired or improved by such
corporation and if it shall be made to appear to such governing body that each of said persons
is a duly qualified elector of and owner of property in said municipality and if the governing
body of said municipality shall adopt a resolution which shall be duly entered upon the minutes
of such governing body wherein it shall be found...
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22-29-17
Section 22-29-17 Grants to local public bodies - Authorized. The state is hereby authorized
to make grants to any local public body to assist such local public body in the construction
of a project. Such grants shall be administered by the authority. The authority acting by
and through any authorized officer is hereby authorized to enter into an agreement obligating
the state to pay such portion of the estimated reasonable cost of the projects of each local
public body as may be required in order that such project shall be eligible for the maximum
obtainable federal grant under the Federal Water Pollution Control Act. (Acts 1971, No. 42,
p. 279, §13.)...
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22-34-9
Section 22-34-9 Certificates or notes in anticipation of bonds. In anticipation of the issuance
of bonds, the authority may borrow such sums as may be needed for any of the aforesaid purposes
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 the date of such certificate
or promissory note. 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 authority funds are not available for a loan for a project when application
is made, in order to accelerate the completion of any project, the public body may, with the
approval of the authority, obligate such public body to provide local funds to pay that portion
of the cost of the project which the authority will make available by loan, and the authority
shall refund the amount expended on its behalf by such...
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33-17-1
Congress, 1st Session (1955). (7) MUNICIPALITY. An incorporated city or town of the state.
(8) PERSON. Unless limited to a natural person by the context in which it is used, such term
includes a public or private corporation organized under the laws of Alabama or of another
state, a municipality, a county, or an agency, department or instrumentality of a county or
municipality, of one or more of the several states, or of the United States. (9) PROPERTY.
Such term means and includes real and personal property, and interests therein. (10)
STATE. In the absence of clear implication herein otherwise, such term means the State of
Alabama. (11) WATERWAY. A navigable waterway, utilizing the channel of the Tombigbee River,
between Demopolis, Alabama and the Tennessee River, as authorized by the River and Harbor
Act of 1946, 60 Statutes at Large 634, 79th Congress, 2nd Session (1946), in accordance with
House Document No. 486, 79th Congress, 2nd Session (1946). (12) HEREIN, HEREBY, HEREUNDER...
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11-86A-1
Any municipality named in the articles that elects to participate in the incorporation or reincorporation
of the authority. (10) PERSON. Unless limited to a natural person by the context in which
it is used, any person, including, without limitation, a private firm, a private association,
a corporation, and a public person. (11) PROBATE JUDGE. The judge of probate of the county
of incorporation of an authority. (12) PROJECT. Any land and any buildings or other improvements
thereon, and all real, personal, and mixed properties deemed by an authority to be
necessary or appropriate in connection therewith, whether or not now in existence, which shall
be suitable for park or recreation purposes. The determination of an authority that a proposed
use is within this definition shall be conclusive. (13) PUBLIC PERSON. The state and any county,
municipal corporation, public corporation, agency, subdivision thereof, instrumentality thereof,
or similar person. (Act 2000-106, p. 129, §1.)...
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22-29-8
Section 22-29-8 Bonds - Authorization to issue and sell; security for payment. For the purpose
of providing funds for the state to make grants to local public bodies for a project or projects
or for the payment of obligations incurred or a temporary loan made for any of said purposes,
the authority is hereby authorized, from time to time, to issue and sell its bonds, not exceeding
in the aggregate principal amount, however, $30,000,000.00. Such bonds may be issued in one
or more series, shall be in such form and denominations and of such tenor and maturities,
not exceeding 40 years from the date of issue of each series, shall bear such rate or rates
of interest, payable and evidenced in such manner, may contain such provisions for registration
or for redemption prior to maturity and may contain such other provisions not inconsistent
with this section as may be provided by the authorizing resolution. As security for the payment
of the principal of and interest on its bonds, the...
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24-1-115
Section 24-1-115 Assistance and cooperation by municipalities, counties, etc. Any municipality,
county, or other public body shall have the same rights and powers to aid and cooperate in
the development or administration of any housing project pursuant to this article or this
chapter as such public body has under any provision of law relating to its aiding or cooperating
in the development or administration of housing projects by a housing authority organized
pursuant to Article 2 of this chapter or other laws of this state. (Acts 1943, No. 541, p.
512, §14.)...
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27-41-11
Section 27-41-11 Particular investments - Bonds, etc., of local public housing authorities.
An insurer may invest in bonds, debentures, or other evidences of indebtedness of local public
housing authorities existing under the laws of the United States or of any state if such obligations
are: (1) Secured by a pledge of annual contributions unconditionally payable under the annual
contributions contract between the Department of Housing and Urban Development and the local
agencies issuing the bonds; (2) Unconditionally guaranteed by the state, municipality, or
political subdivision creating the authority, if the tax supported obligations of such state,
municipality, or political subdivision so guaranteeing would be eligible for investment under
this chapter; or (3) Secured by payments to be made sufficient to pay principal and interest
on the bonds under an "assistance contract" between the local authority and the
state, municipality, or other political subdivision creating the...
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39-7-22
generally; consent of Department of Finance required for issuance or sale of bonds or other
evidence of indebtedness by authority. (a) Subject only to the Constitution of the State of
Alabama, each authority incorporated under this chapter shall have power: (1) To sue and be
sued; (2) To have a seal and alter the same at pleasure; (3) To acquire, by purchase, gift,
devise, lease or exercise of the power of eminent domain or other mode of acquisition, hold
and dispose of property real and personal, tangible and intangible, and interests therein
in its own name, subject to mortgages or other liens or otherwise, and to pay therefor in
cash or on credit and to secure and procure payment of all or any part of the purchase price
thereof on such terms and conditions as it shall determine; (4) To make and enter into contracts,
indentures of trust, leases and bonds; (5) To borrow money and to issue negotiable bonds and
provide for the rights of the holders thereof; (6) To refund any bonds...
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41-10-20
Section 41-10-20 Definitions. When used in this article, the following terms shall have the
following meanings, respectively, 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. The bonds issued under the
provisions of this article. (4) GRANTEE. A county, municipality or local industrial development
board organized as a public corporation in this state, or an airport authority organized as
a public corporation in this state pursuant to Chapter 3 of Title 4, or whether created by
general, special or local laws, or general acts of local application, if such authority governs
an airport operated by a county and at least one municipality therein jointly, to which a
grant of money is made as provided in Section 41-10-26. (5) INDUSTRIAL SITES. Land owned by
a grantee or potential grantee on which industrial facilities have been or...
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