11-50A-26
Section 11-50A-26 Provisions of resolution, agreement, chapter, etc., as irrevocable contract
with holders of bonds, notes, etc. The provisions of any bond resolution, trust agreement
or indenture authorized in this chapter shall be a contract with every holder of the bonds,
bond anticipation notes or notes; and the duties of the authority under this chapter and under
any bond resolution, indenture, or trust agreement shall be enforceable by any bondholder
or noteholder by mandamus or other appropriate action. While any of the bonds, bond anticipation
notes or notes issued by the authority shall remain outstanding, the powers, duties, or existence
of the authority or of its officers, employees, or agents shall not be diminished, impaired,
or affected in any manner which will affect adversely the interest and rights of the holders
of those bonds, bond anticipation notes or notes. Any change in name or composition of the
authority shall in no way affect the vested rights of any person...
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37-5-8
Section 37-5-8 Bonds - Rights and remedies of bondholders. In addition to all other remedies,
any holder of a bond of any district incorporated under this chapter, including a trustee
for bondholders, shall have the right, subject to any contractual limitations binding upon
such bondholders or trustee and subject to the prior or superior rights of others: (1) By
mandamus or other action or proceedings to enforce his rights against such district and the
board of such district, including the right to require such district and such board to fix
and collect rates and charges adequate to carry out any agreement as to, or pledge of, the
revenues produced by such rates or charges, and to require such district and such board to
carry out any other covenants and agreements with such bondholder and to perform its and their
duties under this chapter. (2) By civil action to enjoin any acts or things which may be unlawful
or a violation of the rights of such bondholder. (3) By civil action to...
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39-7-25
Section 39-7-25 Rights and remedies of bondholders. In addition to all other rights and all
other remedies any holder or holders of any bond or bonds of any authority incorporated under
this chapter, including a trustee for bondholders, shall have, subject to any contractual
limitations binding upon such bondholder or holders or trustee, and subject to the prior or
superior rights of others the following rights: (1) To institute a civil action on the bonds;
(2) To enforce his rights by mandamus or other civil action or proceeding against such authority
and the board of trustees of such authority, including the right to require such authority
and such board of trustees to fix and collect rates and charges adequate to carry out any
agreement as to or pledge of the revenues produced by such rates or charges and to require
such authority and such board to carry out any other covenants and agreements with such bondholder
and to perform its and their duties under this chapter; (3) To require...
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16-18A-11
Section 16-18A-11 Interest of bondholders protected; enforceability. While any of the revenue
bonds issued by the authority remain outstanding, the powers, duties or existence of the authority
or of any of its officers shall not be diminished or impaired in any manner that will affect
adversely the interest and rights of the holders of such revenue bonds. The provisions of
this chapter shall be for the benefit of the state, the authority and the holders of any such
revenue bonds, and, upon the issuance of the revenue bonds as herein provided, such provisions
shall constitute a contract with the holders of such revenue bonds. The provisions of any
bond resolution, indenture or trust agreement shall be a contract with every holder of such
revenue bonds and the duties of the authority under any such bond resolution, indenture or
trust agreement shall be enforceable by any bondholder by mandamus or other appropriate suit,
action or proceeding at law or in equity. (Acts 1979, No. 79-322, p....
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16-65-13
Section 16-65-13 Interest of bondholders protected; enforceability. While any of the bonds
issued by the authority remain outstanding, the powers, duties, or existence of the authority
or of any of its officers shall not be diminished or impaired in any manner that will affect
adversely the interest and rights of the holders of such bonds. The provisions of this chapter
shall be for the benefit of the state, the authority, and the holders of any such bonds, and
upon the issuance of the bonds as herein provided, such provisions shall constitute a contract
with the holders of such bonds. The provisions of any bond resolution, indenture, or trust
agreement shall be a contract with every holder of such bonds and the duties of the authority
under any such bond resolution, indenture, or trust agreement shall be enforceable by any
bondholder by mandamus or other appropriate suit, action, or proceeding at law or in equity.
(Acts 1997, No. 97-388, p. 632, §13.)...
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11-81-166
Section 11-81-166 Revenue bonds - Authority for issuance; authorization proceedings generally;
form, terms, denominations, etc.; execution and delivery generally; maturity and sale; payment
generally; trust indentures. (a) Any borrower may issue its revenue bonds for the purpose
of: (1) Financing the acquisition, improvement, enlargement, extension and repair, or any
of them, of a system or systems; (2) Refunding the principal of and the interest on any bonds
of such borrower theretofore issued under this article and then outstanding, whether or not
such principal and interest shall have matured at the time of such refunding; or (3) Financing
any such acquisition, improvement, enlargement, extension and repair, or any of them, and
refunding any such principal and interest. (b) Any bonds issued under this article shall be
made payable solely out of the revenues from the operation of a system or systems of the borrower
and may be made payable from any such revenues without regard to...
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11-55-4
Section 11-55-4 Bonds - Security for payment of principal and interest. The principal of and
interest on any bonds issued under the authority of this chapter shall be secured by a pledge
of the revenues out of which such bonds shall be made payable, may be secured by a mortgage
covering all or any part of the project from which the revenues so pledged may be derived
and may be secured by a pledge of the lease of such project. The proceedings under which such
bonds are authorized to be issued or any such mortgage may contain any agreements and provisions
customarily contained in instruments securing bonds, including, without limiting the generality
of the foregoing, provisions respecting the fixing and collection of rents for any project
covered by such proceedings or mortgage, the terms to be incorporated in the lease of such
project, the maintenance and issuance of such project, the creation and maintenance of special
funds from the revenues from such project and the rights and...
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22-21-144
Section 22-21-144 Bonds - Security. The principal of, and the interest on, the bonds shall
be secured by a pledge of the revenues out of which the bonds shall be made payable, may be
secured by a pledge of the lease agreement (if any) covering the project from which revenues
so pledged shall be derived and by a pledge of the rental from such project and may be secured
by a nonforeclosable indenture covering the project or projects out of the revenues from which
the bonds are made payable. The trustee, under any indenture, may be a trust company or bank
having trust powers, whether located within or without the state, and may be selected by the
board without regard to the provisions of Chapter 25 of Title 36 of this code or other similar
law. The indenture may contain any agreements and provisions customarily contained in instruments
securing evidences of indebtedness including, without limiting the generality of the foregoing,
provisions respecting the collection, segregation and...
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11-15-12
Section 11-15-12 Warrants - Security for payment of principal and interest. The principal of
and interest on the warrants shall be secured by a pledge of the revenues out of which the
warrants shall be made payable, shall be secured by a mortgage covering the project from which
the revenues so pledged shall be derived and shall be secured by a pledge of the lease agreement
covering such project and of the rental therefrom. The mortgage may contain any agreements
and provisions customarily contained in instruments securing evidences of indebtedness, including,
without limiting the generality of the foregoing, provisions respecting the collection and
application of the rental from any project covered by such mortgage, the terms to be incorporated
in the lease agreement respecting such project, the maintenance and insurance of such project,
the creation and maintenance of special funds from the rental of such project and the rights
and remedies available in the event of default to the...
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15-23-14
Section 15-23-14 Award of compensation subrogates commission to rights of claimant as to collateral
source; funds recovered from collateral source held in trust for commission; disposition of
trust funds; notice of action to recover damages; restitution hearings. (a) If compensation
is awarded, the commission shall be subrogated to all the rights of a claimant to receive
or recover from a collateral source to the extent that compensation was awarded. (b) In the
event the claimant recovers compensation, other than under the provisions of this article,
for injuries or death resulting from criminally injurious conduct, the claimant shall retain,
as trustee for the commission, so much of the recovered funds as necessary to reimburse the
Alabama Crime Victims Compensation Fund to the extent that compensation was awarded to the
claimant from that fund. The funds retained in trust shall be promptly paid over to the commission
and deposited in the Alabama Crime Victims Compensation Fund....
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