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37-11A-1
Section 37-11A-1 Execution and text of compact. The Governor, on behalf of this state, shall
execute a compact, in substantially the following form, with the State of Mississippi, and
the Legislature approves and ratifies the compact in the form substantially as follows: Northeast
Mississippi - Northwest Alabama Railroad Authority Compact. The contracting states solemnly
agree: Article I. The purpose of this compact is to promote and develop trade, commerce, industry,
and employment opportunities for the public good and welfare in northeast Mississippi and
northwest Alabama through the establishment of a joint interstate authority to acquire certain
railroad properties and facilities which the operator thereof has notified the Interstate
Commerce Commission of an intention to abandon and which are located in any of Franklin, Marion,
or Winston Counties, Alabama or in Alcorn or Tishomingo Counties, Mississippi. Article II.
This compact shall become effective immediately as to the State...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-11A-1.htm - 33K - Match Info - Similar pages
41-10-44.6
Section 41-10-44.6 Project obligations generally. (a) Issuance of project obligations. The
authority is authorized and empowered to issue its project obligations from time to time for
the purpose of financing one or more projects in such aggregate principal amount as the board
of directors shall determine to be necessary to provide for all or a portion of the project
costs of the project or projects being financed and to pay the expenses of issuing the project
obligations. (b) Source of payment. All project obligations issued by the authority shall
be limited obligations of the authority payable solely from any combination of the following:
(1) The revenues and receipts of the authority derived from the financing agreement or agreements
entered into by the authority with respect to the project or projects financed by such project
obligations; (2) the income or proceeds realized by the authority under any mortgage or other
security granted to the authority; (3) amounts derived from any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-44.6.htm - 7K - Match Info - Similar pages
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
11-92A-14
Section 11-92A-14 Bonds of authority. (a) Bonds of an authority shall be signed by its chairman
and attested by its secretary, the seal of the authority shall be affixed thereto, and any
interest coupons applicable to said bonds shall be signed by the chairman; provided that a
facsimile of the signature of said officers may be printed or otherwise reproduced on any
such bonds in lieu of being manually subscribed thereon, a facsimile of the seal of the authority
may be printed or otherwise produced on any such bonds in lieu of being manually affixed thereto,
and a facsimile of the chairman's signature may be printed or otherwise reproduced on any
such interest coupons in lieu of being manually subscribed thereon, provided that the bonds
have been manually authenticated by a transfer agent of the bond issue. Delivery of the bonds
so executed shall be valid notwithstanding any changes in officers or in the seal of the authority
after the signing and sealing of the bonds. (b) Any bonds may...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-92A-14.htm - 5K - Match Info - Similar pages
33-12-5
Section 33-12-5 Powers, duties and functions. The powers, duties and functions of the agency
shall be as follows: (1) GENERALLY. The agency a. Shall have perpetual succession in its corporate
name. b. May sue and be sued in its corporate name. c. May adopt, use and alter a corporate
seal, which shall be judicially noticed. d. May enter into such contracts and cooperative
agreements with the federal, state and local governments, with agencies of such governments,
with private individuals, corporations, associations, trusts and other organizations as the
board may deem necessary or convenient to enable it to carry out the purposes of this chapter,
including the planned, orderly residential development of the area. e. May adopt, amend and
repeal bylaws. f. May appoint such managers, officers, employees, attorneys and agents as
the board deems necessary for the transaction of its business, fix their compensation, define
their duties, require bonds of such of them as the board may...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-12-5.htm - 18K - Match Info - Similar pages
22-3A-11
Section 22-3A-11 Sale of bonds. Bonds of the authority (including refunding bonds) may be sold
at such price(s) and at such time(s) as the directors may consider advantageous, either at
public sale through competitive bidding or by private sale through negotiation with the prospective
purchaser. The authority may fix the terms and conditions under which each sale of bonds may
be held. The authority may pay out of the proceeds from the sale of the bonds all expenses,
including, but not limited to, fees, premiums, discounts, insurance premiums and commissions
and letters of credit or other credit enhancement fees, as the directors may deem necessary
or advantageous. Neither a public hearing nor consent by the State Department of Finance or
any other department or agency shall be a prerequisite to the issuance of any of the bonds.
All bonds issued by the authority shall contain a recital that they are issued pursuant to
the provisions of this chapter, which recital shall be conclusive...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-3A-11.htm - 1K - Match Info - Similar pages
41-10-55
Section 41-10-55 Issuance and sale of bonds authorized generally; form, terms, denominations,
etc., thereof; bonds to be deemed negotiable instruments; redemption. Bonds of the authority
may be sold from time to time as the board of directors may deem advantageous; provided, that
the aggregate principal amount of bonds of the authority which may be issued under this article
shall be limited to $20,000,000.00, but the said limitation shall not apply to refunding bonds
which may be issued under this article and also shall not apply to bonds of the authority
which may be issued under any other act which may at any time hereafter be enacted. The bonds
shall be in such forms and denominations and of such tenor and maturities, shall bear such
rate or rates of interest payable and evidenced in such manner and may contain other provisions
not inconsistent with this article as may be provided in the resolution or resolutions of
the board of directors of the authority wherein the bonds are...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-55.htm - 3K - Match Info - Similar pages
2-5A-33
Section 2-5A-33 Sale of bonds. The bonds may be sold by the Department of Agriculture and Industries
from time to time in series. Each series of the bonds shall be sold at competitive bid and
at such price or prices and at such time or times as the commissioner may consider advantageous.
Bonds sold by competitive bid shall be sold, whether on sealed bids or at public auction,
to the bidder whose bid reflects the lowest effective borrowing cost to the Department of
Agriculture and Industries on the series of bonds being sold; provided, that if no bid acceptable
to the commissioner is received, he or she may reject all bids. Summary notice of each such
sale shall be given by publication in either a financial journal or a financial newspaper
published in the City of New York, New York, and also by publication in a newspaper published
in the State of Alabama which is customarily published not less often than three days during
each calendar week, each of which notices must be published at...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-5A-33.htm - 1K - 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
33-16-13
Section 33-16-13 Bonds - Disposition of proceeds; investments. The authority shall pay out
of the proceeds from the sale of any of the bonds all expenses which the board of directors
may deem necessary or advantageous in connection with the sale and issuance of the bonds.
The proceeds from the sale of all bonds, other than refunding bonds, remaining after paying
the expenses of their sale and issuance shall be turned in to the State Treasury, shall be
carried in a special fund to be designated the Coosa Valley Development Authority fund, and
shall be subject to be drawn on by the authority, upon approval by the Governor, but solely
for the purpose of discharging the duties and obligations undertaken by the authority in connection
with the waterway project. The proceeds from the sale of any refunding bonds remaining after
the expense of their issuance shall be used only for the purpose of refunding the principal
of outstanding bonds issued hereunder and of paying any premium that may be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-16-13.htm - 2K - Match Info - Similar pages
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