41-10-463
Section 41-10-463 Investment of proceeds from sale of bonds. Any portion of the principal proceeds
derived from the sale of the bonds which the board of directors of the authority may determine
is not then needed for any of the purposes for which the bonds are authorized to be issued
shall, on order of the authority, be invested by the State Treasurer in permitted investments.
Any such securities may, at any time and from time to time on order of the authority, be sold
or otherwise converted by the State Treasurer into cash. The income derived from any such
investments shall be disbursed on order of the authority for any purpose for which the authority
may lawfully expend funds. (Acts 1990, No. 90-602, p. 1079, §14.)...
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14-2-19
Section 14-2-19 Bonds - Disposition of proceeds. (a) All proceeds derived from the sale of
any bonds, except refunding bonds, sold by the authority, remaining after payment of the expenses
of issuance thereof, shall be turned over to the State Treasurer, shall be carried in a special
account to the credit of the authority, and shall be subject to be drawn on by the authority
solely for the purposes of: (1) Acquiring land for and constructing, reconstructing and equipping
thereon one or more facilities; (2) Constructing additional improvements on property currently
owned by the Department of Corrections or the authority in order to provide for additional
bedspace; (3) Paying all reasonable and necessary expenses incidental thereto, including filing,
recording, surveying, legal and engineering fees and expenses; (4) Paying the interest which
will accrue on the said bonds during the period required for the construction and equipment
of the said facilities and for a period not exceeding...
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14-2-20
Section 14-2-20 Bonds - Investment of proceeds. Any portion of the principal proceeds derived
from the sale of the bonds which the board of directors of the authority may determine is
not then needed for any of the purposes for which the bonds are authorized to be issued shall,
on order of the authority, be invested by the State Treasurer in any securities which are
direct and general obligations of the United States of America or the principal of and interest
on which are unconditionally and irrevocably guaranteed by the United States of America. Any
such securities may, at any time and from time to time on order of the authority, be sold
or otherwise converted by the State Treasurer into cash. The income derived from any such
investments shall be disbursed on order of the authority for any purpose for which it may
lawfully expend funds. (Acts 1965, No. 678, p. 1226, §15.)...
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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...
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41-10-507
Section 41-10-507 Investment of proceeds. Any portion of the principal proceeds derived from
the sale of the bonds which the board of directors of the authority may determine is not then
needed for any of the purposes for which the bonds are authorized to be issued shall, on order
of the authority, be invested by the State Treasurer in permitted investments which mature
at such time or times as the authority shall direct. Any such investments may, at any time
and from time to time on order of the authority, be sold or otherwise converted by the State
Treasurer into cash. The income derived from any such investments shall be disbursed on order
of the authority for any purpose for which it may lawfully expend funds. (Acts 1990, No. 90-603,
p. 1094, §18.)...
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11-50-526
Section 11-50-526 Bonds - Sale or issuance generally. The corporation may issue bonds at any
time and from time to time as the board may determine to be most advantageous for the purpose
of paying the purchase price of and all expenses incurred in connection with the acquisition
of any properties or other assets of the corporation and for the purpose of furnishing adequate
working capital for the corporation. Such bonds shall be revenue bonds payable solely out
of the revenues derived from the operation of all or any part of any utility owned by the
corporation as may be provided at the time of the authorization of such bonds. All bonds shall
be signed by such officer or officers as the board may direct, but the facsimile of any signature
may be impressed on any interest coupons in lieu of the original signature. The bonds shall
be in such form, whether registered or bearer, shall be in such denominations, shall bear
such dates and have such maturities not exceeding 40 years from their...
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41-10-276
Section 41-10-276 Investment of proceeds from sale of bonds; disposition of investment income.
Any portion of the principal proceeds derived from the sale of the bonds which the board of
directors may determine is not then needed for any of the purposes for which the bonds are
authorized to be issued shall, on order of the authority, be invested by the State Treasurer
in permitted investments which mature at such time or times as the authority shall direct.
Any such investments may, at any time and from time to time on order of the authority, be
sold or otherwise converted by the State Treasurer into cash. The income derived from any
such investments shall be disbursed on order of the authority for any purpose for which it
may lawfully expend funds. (Acts 1986, No. 86-420, p. 627, §17.)...
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41-10-367
Section 41-10-367 Investment of surplus proceeds from sale of bonds; disbursement of income
derived from such investments. Any portion of the principal proceeds derived from the sale
of the bonds which the board of directors may determine is not then needed for any of the
purposes for which the bonds are authorized to be issued shall, on order of the authority,
be invested by the State Treasurer in permitted investments which mature at such time or times
as the authority shall direct. Any such investments may, at any time and from time to time
on order of the authority, be sold or otherwise converted by the State Treasurer into cash.
The income derived from any such investments shall be disbursed on order of the authority
for any purpose for which it may lawfully expend funds. (Acts 1988, No. 88-475, p. 739, §18.)...

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11-86A-15
Section 11-86A-15 Security for bonds. (a) In the discretion of the board of directors of an
authority, any bonds may be secured by an indenture between an authority and a trustee, which
may be a trust company or bank having trust powers, whether the trust company or bank is located
within or outside of the state. In any indenture or resolution providing for the issuance
of bonds, an authority may pledge, for payment of the principal of and the interest on such
bonds, any of its revenues to which its rights exist or may thereafter come into existence,
and may assign, as security for payment, any of its leases, franchises, permits, and contracts.
In any indenture, an authority may mortgage any properties, including any that may be thereafter
acquired by it, and may provide that in the event of a default in payment of the bonds secured
thereby or in the event of default with respect to any agreement contained therein, the mortgage
may be foreclosed either by sale at public outcry or by...
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11-92A-15
Section 11-92A-15 Security for bonds. (a) In the discretion of the board of directors of an
authority, any bonds may be secured by an indenture between an authority and a trustee, which
may be any trust company or bank having trust powers, whether such trust company or bank is
located within or without the state. In any such indenture or resolution providing for the
issuance of bonds an authority may pledge, for payment of the principal of and the interest
on such bonds, any of its revenues to which its right then exists or may thereafter come into
existence, including, but not limited to, revenues or other money or property pledged to it
by any public or private person, and may assign, as security for such payment, any of its
leases, loan agreements, franchises, permits, and contracts. In any such indenture, an authority
may mortgage any of its properties, including any that may be thereafter acquired by it, and
may provide that in the event of a default in payment of the bonds...
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