45-39-221.05
Section 45-39-221.05 Obligations not debts of state, county or municipality. All agreements
and obligations undertaken by the tourism board shall be solely and exclusively obligations
of the tourism board and shall not create any obligation or debt of either the state, the
county, or any municipality. (Act 2014-267, p. 859, §6.)...
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33-15-11
Section 33-15-11 Bonds and other obligations - Use of proceeds from sale of bonds. All moneys
derived from the sale of any bonds issued by the authority shall be used solely for the purpose
or purposes for which the same are authorized and any costs and expenses incidental thereto.
Such costs and expenses may include but shall not be limited to (1) The fiscal, engineering,
legal and other expenses incurred in connection with the issuance of the bonds, (2) In the
case of bonds issued to pay costs of construction, interest on such bonds (or, if a part only
of any series of bonds is issued for construction purposes, interest on that portion of the
bonds of that series that is issued to pay construction costs) prior to and during such construction
and for not exceeding one year after completion of such construction, and (3) In the case
of bonds issued for the purpose of refunding principal and interest, or either, with respect
to bonds issued or obligations assumed by the authority, any...
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41-10-45.2
Section 41-10-45.2 Fund created; project obligations. (a) There is created the Accelerate Alabama
Fund, which may consist of monies appropriated or otherwise made available by the Legislature
in any manner, proceeds of project obligations issued by the authority, and monies from any
other source designated for deposit into such fund, but not including monies subject to a
constitutional designation for some other purpose. Unexpended amounts remaining in the fund
at the end of each fiscal year of the state shall not lapse into the State General Fund. Any
investment earnings or interest earned on amounts in the fund and all loan payments of principal
and/or interest shall be deposited to the credit of the fund. (b) In addition to the purposes
for which the authority may issue project obligations, the authority is hereby authorized
to issue project obligations to provide money for the fund. Project obligations shall be issued
as provided in Section 41-10-44.6, subject, however, to the...
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11-50A-10
Section 11-50A-10 Validation of bonds. Except as otherwise provided in this section, the validity
of any bonds may be determined in the manner provided in Sections 11-81-220 through 11-81-227,
provided that, as used in those sections: the term "unit" shall mean the authority;
the term "organizing subdivision" shall mean the state; the term "obligations"
shall include, in addition to the evidences of indebtedness listed in Section 11-81-220(3),
all contracts described in Section 11-50A-11; and the term "district attorney" shall
mean the attorney general of the state; and provided further, that the authority shall not
be required to specify in its complaint when, where, and in what amounts principal and interest
on the bonds are to be paid; and provided further, that in its complaint the authority may,
when stating the amount of obligations to be issued, state the principal amount of bonds to
be issued, whether the bonds are to be issued in separate series or installments from time
to...
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22-21-141
Section 22-21-141 Bonds - Revenue. The authority is empowered, at any time and from time to
time, to sell and issue its revenue bonds for the purpose of providing funds to acquire, construct,
improve, enlarge, complete and equip one or more projects and for payment of obligations incurred
for any such purpose. The principal of, and interest on, any such bonds shall be payable solely
out of the revenues derived by the authority from any one or more of its projects, all as
shall be provided by the resolution of the board or the indenture whereunder such bonds are
authorized to be issued. Any bonds of the authority may be delivered by it at any time and
from time to time, shall be in such form and denominations and of such tenor and maturities,
shall bear such rate or rates of interest (without regard to any usury or other laws regulating
or limiting interest rates, including without limitation, the provisions of Section 8-8-1,
as amended, all of which shall be inapplicable to any bonds...
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41-10-145
Section 41-10-145 Bonds - Use of proceeds from sale. All moneys derived from the sale of any
bonds issued by an authority shall be used solely for the purpose or purposes for which the
same are authorized and any costs and expenses incidental thereto. Such costs and expenses
may include, but shall not be limited to: (1) The fiscal, engineering, architectural, legal
and other expenses incurred in connection with the issuance and sale of the bonds; (2) In
the case of bonds issued to pay costs of construction, building, acquisition, restoration,
renovation or improvement of property of the authority, interest on such bonds (or, if a part
only of bonds of any series is issued for such purposes, interest on that portion of the bonds
of that series that is issued to pay such costs) prior to and during such construction, building,
acquisition, restoration, renovation or improvement of property of the authority; and (3)
In the case of bonds issued for the purpose of refunding principal and...
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11-49A-13
Section 11-49A-13 Use of bond proceeds. All moneys derived from the sale of any bonds issued
by the authority shall be used solely for the purpose or purposes for which the same are authorized
and any costs and expenses incidental thereto. Such costs and expenses may include but shall
not be limited to: (1) The fiscal, engineering, legal, and other expenses incurred in connection
with the issuance of the bonds; (2) In the case of bonds issued to pay costs of acquiring
or constructing all or any part of a transit system interest on such bonds (or, if a part
only of any series of bonds is issued for acquisition or construction purposes, interest on
that portion of the bonds of that series that is issued to pay such acquisition or construction
costs) prior to and during such acquisition or construction and for not exceeding one year
after completion of such acquisition or construction; and (3) In the case of bonds issued
for the purpose of refunding principal and interest, or either, with...
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11-49B-12
Section 11-49B-12 Proceeds from sale of bonds. All moneys derived from the sale of bonds issued
by the authority shall be used solely for the purpose for which the bonds are authorized and
any costs and expenses incidental to the bonds. The costs and expenses may include, but shall
not be limited to: (1) The fiscal, engineering, legal, and other expenses incurred in connection
with the issuance of the bonds. (2) Bonds issued to pay costs of acquiring or constructing
all or any part of a transit system, interest on such bonds or, if a part only of any series
of bonds is issued for acquisition or construction purposes, interest on that portion of the
bonds of that series that is issued to pay the acquisition or construction costs prior to
and during the acquisition or construction and not exceeding one year after completion of
the acquisition or construction. (3) Bonds issued for refunding principal and interest, or
either, with respect to bonds issued or obligations assumed by the...
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11-54-143
Section 11-54-143 Bonds issued to finance projects. All bonds issued by a municipality under
authority of this article shall be limited obligations of the municipality the principal of
and interest on which shall be payable solely out of the revenues derived from the leasing
of the project to finance which the bonds are issued. Bonds and interest coupons issued under
authority of this article shall never constitute an indebtedness of the municipality within
the meaning of any state constitutional provision or statutory limitation, and shall never
constitute nor give rise to a pecuniary liability of the municipality or a charge against
its general credit or taxing powers, and such fact shall be plainly stated in the face of
each such bond. Such bonds may be executed and delivered at any time and from time to time,
may be in such form and denominations, may be of such tenor, may be in registered or bearer
form either as to principal or interest or both, may be payable in such...
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11-54-54
Section 11-54-54 Bonds - Form, terms, denominations, etc.; execution, sale, delivery, redemption,
etc. All bonds issued by a municipality under authority of this article shall be limited obligations
of the municipality, the principal of and interest on which shall be payable solely out of
the revenues derived from the leasing of the project to finance which the bonds are issued.
Bonds and interest coupons issued under the authority of this article shall never constitute
an indebtedness of the municipality within the meaning of any state constitutional provision
or statutory limitation and shall never constitute nor give rise to a pecuniary liability
of the municipality or a charge against its general credit or taxing powers, and such fact
shall be plainly stated in the face of each such bond. Such bonds may be executed and delivered
at any time and from time to time, may be in such form and denominations, may be of such tenor,
may be in registered or bearer form either as to principal...
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