11-61A-13
Section 11-61A-13 Bonds. (a) The authority may issue and sell its interest-bearing revenue bonds for any corporate purpose at any time or times. The principal of and the interest on the bonds shall be payable solely from, and may be secured by a pledge of, the revenues derived by the authority from the operation of any or all of its parking facilities and other property, or by mortgage of any property of the authority. The bonds issued or contracts entered by the authority shall not constitute or create an obligation, debt, or charge against the credit or taxing power of the state, any county, or municipality within the state. (b) The board may provide for each of the following regarding the bonds: (1) Issuance time or times. (2) Form and denominations. (3) Tenor. (4) Payment installments, which shall be at a time or times not exceeding 40 years from their date. (5) Place or places of payment, whether within or without the state. (6) Interest rate or rates payable and evidenced in a...
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11-81-164
Section 11-81-164 Notice of adoption of authorization proceedings for issuance of bonds; limitation period for actions to set aside authorization proceedings, restrain issuance of bonds, etc. (a) After the adoption of authorizing proceedings providing for the issuance of bonds under this article, the borrower shall cause to be published once a week for two successive weeks in a newspaper either published or having general circulation within the limits of the county or municipality, as the case may be, proposing to issue such bonds, a notice in substantially the following form (the blanks being first properly filled in), with the printed or written signature of the clerk or other recording officer of the borrower appended thereto: "An ordinance (or resolution) authorizing the issuance of $_____ principal amount of revenue bonds of (here insert name of the borrower) under the provisions of Title 11, Chapter 81, Article 5 of the Code of Alabama, as amended, was duly passed by the (here...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-81-164.htm - 3K - Match Info - Similar pages
11-89B-2
Section 11-89B-2 Form, terms, denominations, etc. of bonds; execution and delivery; interest; sale; issuance of refunding bonds; liability on bonds; source of payment; use of proceeds; mortgage, deed of trust, etc., containing certain agreements. All bonds issued pursuant to the provisions of this chapter shall be signed by the chairman of the board of directors or other governing body or other chief executive officer of such public corporation and attested by its secretary and the seal of such public corporation shall be affixed thereto; provided, that a facsimile of the signatures of both of the officers whose signatures will appear on the bonds may be imprinted or otherwise reproduced thereon in lieu of being manually signed if the proceedings in which the bonds are authorized to be issued provide for the manual authentication of such bonds by a trustee, registrar or paying agent; provided further, that a facsimile of the seal of such public corporation may be imprinted or otherwise...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-89B-2.htm - 6K - Match Info - Similar pages
16-18A-5
Section 16-18A-5 Revenue bonds - Issuance; negotiable, forms, terms, etc.; refunding bonds; security. The authority shall have power and is hereby authorized from time to time to provide by resolution for the issuance of negotiable revenue bonds for the purpose of paying all or any part of the cost as herein defined of any of its projects. Such bonds may also be issued to pay off, refund or refinance any outstanding bonds or other obligation of any nature owed by the authority, whether or not such revenue bonds or other obligations shall then be subject to redemption, and the authority may provide for such arrangements as it may determine for the payment and security of the revenue bonds being issued or for the payment and security of the revenue bonds or other obligations to be paid off, refunded or refinanced. The principal, premium, if any, and interest of such revenue bonds shall be payable solely from the revenues, receipts and earnings to be received by the authority in...
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41-10-351
Section 41-10-351 Definitions. The following terms hereafter used in this article shall have the following respective meanings: (1) AUTHORITY. The public corporation organized pursuant to the provisions of this article. (2) BONDS. The bonds issued under the provisions of this article. (3) COMMISSIONER. The Commissioner of Mental Health. (4) DEPARTMENT. The Department of Mental Health provided for in Chapter 50 of Subtitle 2 of Title 22. (5) DIRECTORS. The board of directors of the authority. (6) MENTAL HEALTH FACILITIES. Any one or more of the following: hospitals and other facilities of any kind for treatment and care of the mentally ill and individuals with an intellectual disability; regional or community-based mental health centers; regional or community-based facilities for treatment and care of the mentally ill or individuals with an intellectual disability; regional or community-based centers for the treatment of alcoholism or drug addiction; and improvements to existing state...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-351.htm - 3K - Match Info - Similar pages
11-97-27
Section 11-97-27 Liberal construction. This chapter shall be construed liberally to effect its purposes and neither this chapter nor anything herein contained is or shall be construed as a restriction or limitation upon any powers which any corporation might otherwise have under any laws of the state, and the provisions of this chapter are cumulative to any such powers. This chapter does and shall be construed to provide a complete, additional, and alternative method for the doing of the things authorized thereby and shall be regarded as supplemental and additional to other laws. However, the issuance of bonds of any corporation under the provisions of this chapter need not comply with the requirements of any other law of the state generally applicable to the issuance of bonds, notes, and other obligations by other public corporations organized under the laws of the state. (Acts 1984, No. 84-314, p. 695, ยง27.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-97-27.htm - 1K - Match Info - Similar pages
41-10-28
Section 41-10-28 Execution of bonds and interest coupons; form, terms, denominations, etc., of bonds; sale; refunding bonds; liability upon bonds; pledges of certain funds as security for payment of principal and interest on bonds generally; bonds to be deemed negotiable instruments; bonds and income therefrom exempt from taxation; use of bonds as security for deposits of funds of state, etc.; investment of certain state funds and private trust funds in bonds; public hearing or consent of Department of Finance, etc., not a prerequisite to issuance of bonds. The bonds of the authority shall be signed by its president and attested by its secretary, and the seal of the authority shall be affixed thereto, and any interest coupons applicable to such bonds shall be signed by the president; provided, that a facsimile of the signature of one, but not both, of said officers may be printed or otherwise reproduced on any such bonds in lieu of being manually subscribed thereon, a facsimile of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-28.htm - 7K - Match Info - Similar pages
8-8-7
Section 8-8-7 Maximum rates of interest - Exemption of bonds, notes, etc., of state, instrumentalities, localities, etc. Any bonds, notes, warrants, other evidences of indebtedness, or securities issued by the State of Alabama or any department, agency, or instrumentality thereof, by any not-for-profit public or private corporation at any time organized or created pursuant to act of the Legislature or executive order of the Governor for the purpose of acting as an instrumentality of the State of Alabama or otherwise acting in the public interest and by any board of water and sewer commissioners created under the provisions of Article 10, Chapter 50, Title 11, and authorized to issue bonds under Section 11-50-345 by any municipality, by any county, by any public corporation heretofore or hereafter organized or created in the State of Alabama pursuant to authorization, determination, finding, or other action of any municipality or municipalities or county or counties or the governing...
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11-89-32
Section 11-89-32 Procedure to form special corporation. (a) In order to provide for operation and financing of one or more, but not all, of its authorized services under Chapter 89, Title 11, by following the procedures set out in this article, any district may establish a separate public corporation and grant to it the power to finance and operate any, but not all, of the authorized services of the district. If any district may, by its certificate of incorporation, provide more than one of fire protection service, sewer service, or water service in its service area, it may provide that any one or more of the services, but not all of them, may be operated and financed through a special corporation organized pursuant to this article. The procedure to organize a special corporation is as follows: The board shall adopt a resolution specifying that it is necessary or expedient that a special corporation be organized pursuant to this article to operate and finance one or more, but not all,...
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22-29-1
Section 22-29-1 Definitions. For the purposes of this chapter, unless otherwise indicated, the following terms shall have the meanings respectively ascribed to them by this section: (1) AUTHORITY. The public corporation organized pursuant to the provisions of this chapter as a public corporation, agency and instrumentality of the state. (2) AUTHORIZING RESOLUTION. A resolution or order adopted by the board of directors authorizing the issuance of bonds by the authority or providing for an indenture of trust under and pursuant to which its bonds are to be issued. (3) BOARD OF DIRECTORS. The board of directors of the authority. (4) BOARD. The State Board of Health of the State of Alabama or the State Committee of Public Health or the State Health Officer, whichever at the time has the authority to act in health matters pursuant to Sections 22-1-3, 22-2-1, 22-2-2, 22-2-6 and 22-2-8. (5) BONDS. The bonds issued by the authority under the provisions of this chapter. (6) BOND SERVICE...
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