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22-21-355
Section 22-21-355 Further provisions respecting investment of funds. In addition to the investment
powers granted by the enabling statute, any authority shall, to the extent permitted by the
contracts of such authority with the holders of its securities, have the further power to
invest any portion of the principal proceeds derived from the sale of any of its securities
not then needed for any of the purposes for which such securities were authorized to be issued,
any moneys held in any special fund created pursuant to any resolution or mortgage, mortgage
indenture, mortgage and trust indenture or trust indenture authorizing or securing any of
its securities, and any other moneys of such authority not then needed by it, in any of the
following: (1) Debt securities (whether general obligations or limited or special obligations)
of any state, territory or possession of the United States of America and of any political
subdivision of any such state, territory or possession, but if and...
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41-10-550
Section 41-10-550 Appropriation and pledge of funds for authority obligations. (a) For the
purpose of providing funds to enable the authority to pay debt service referable to any bonds
issued by it, amounts due on any authority guaranties entered into by it under this division
and other obligations incurred by the authority pursuant to this division, and to pay the
costs of acquiring, operating, and maintaining any project or other property the authority
may own, acquire, or operate and to pay any other costs, expenses, or obligations of the authority,
there is irrevocably pledged to such purpose and is appropriated to the authority so much
as may be necessary therefor of the appropriated funds. All moneys hereby appropriated and
pledged shall be deposited in a special fund maintained by the State Treasurer separate and
apart from all other funds under his or her supervision, and the State Treasurer is hereby
directed to cause moneys in the special fund to be disbursed solely for the...
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5-5A-18
Corporations formed for the purpose of doing business as a bank may: (1) Discount bills, notes
or other evidences of debt; (2) Receive and pay out deposits, with or without interest, pay
checks, and impose charges for any services; (3) Receive on special deposit money, bullion
or foreign coins or bonds or other securities; (4) Buy and sell foreign and domestic exchanges,
gold and silver bullion or foreign coins, bonds, bills of exchange, notes and other negotiable
paper; (5) Lend money on personal security or upon pledges of bonds, stocks or other
negotiable securities; (6) Take and receive security by mortgage, security agreement or otherwise
on property, real and personal; (7) Become trustees for any purpose and be appointed
and act as executors, administrators, guardians, receivers, or fiduciaries upon receiving
the prior written approval of the superintendent under Section 5-11A-1; (8) Lease real and
personal property upon specific request of a customer, provided such banks must...
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11-101A-2
mortgage and trust indenture, or trust indenture executed by an authority as security for any
of its securities. (15) LEGISLATURE. The Legislature of the state. (16) MUNICIPALITY. An incorporated
city or town of the state. (17) PRINCIPAL OFFICE. The place at which the certificate of incorporation
and amendments thereto, the bylaws, and the minutes of the proceedings of the board of an
authority are kept. (18) PROJECT. Any land and any buildings or other improvements thereon
and all real and personal properties deemed necessary in connection therewith, whether
or not now in existence, which shall be suitable for use by the United States. (19) SECURITIES.
Bonds, notes, warrants, certificates of indebtedness, or other evidences of indebtedness,
including, without limiting the generality of the foregoing, notes issued in anticipation
of the sale of any of the foregoing. (20) STATE. The State of Alabama. (21) UNITED STATES.
The United States of America or any of its departments, agencies,...
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11-86A-16
Section 11-86A-16 Application of proceeds from the sale of bonds; source of payment; pledge
of county's or municipality's credit; negotiability; exemption from taxation; pledge as security
for funds belonging to a public person; investment in bonds by fiduciaries; no public hearing
required; investment in bonds by Teachers' Retirement System of Alabama, the Employees' Retirement
System of Alabama, and the State Insurance Fund; investment in bonds by public persons. (a)
The proceeds from the sale of any bonds shall be applied as provided in the proceedings in
which the bonds are authorized to be issued, including, without limitation, the payment of
all legal, fiscal, and recording fees and expenses incurred in connection with the authorization,
sale, and issuance of the bonds and, if provided in the proceedings authorizing their issuance,
interest on the bonds (or if only a part of any issue of bonds is issued for acquisition purposes,
interest on that portion of the bonds of that issue...
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2-6-117
Section 2-6-117 Disposition of refunding bond proceeds. (a) The proceeds of refunding bonds
shall be applied, together with any other moneys legally available, to the payment of the
expenses authorized by this article and to the payment of the principal of, premium, if any,
and interest due and to become due on any outstanding bonds to be refunded. The expenses authorized
by this article shall include, in addition to other expenses authorized by this article, all
expenses that the board of directors may deem necessary or advantageous in connection with
the sale and issuance of refunding bonds, including, without limitation, the expenses of selling
and issuing such refunding bonds, including any discount reflected in the purchase price paid
to the corporation, fees and disbursements of attorneys, accountants, fiscal agents, financial
advisors, and other consultants, fees and disbursements of trustees, escrow agents, registrars,
paying agents, transfer agents, depositories for...
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37-4-1
Section 37-4-1 Definitions. Unless otherwise specified, when used in this article, these terms
shall have the following meanings: (1) COMMISSION. The Alabama Public Service Commission.
(2) COMMISSIONER. A member of the commission. (3) MUNICIPALITY. Any municipal corporation
organized under the laws of this state. (4) PERSON. Such term shall mean and include individuals,
associations of individuals, firms, partnerships, companies, corporations, municipalities,
governmental agencies, their lessees, trustees, or receivers appointed by any court whatsoever,
in the singular number as well as in the plural. (5) NONUTILITY. Any federal agency, instrumentality,
or corporation, owned by the United States, and any corporation or joint stock company in
which the United States or any of its departments, establishments, or agencies, owns more
than 50 percent of the voting shares of stock of such corporation or joint stock company.
(6) SECURITIES. Such term shall mean and include stock, stock...
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5-25-3
Section 5-25-3 Persons excluded. The following persons are not subject to the provisions of
this chapter: (1) Any depository institution as defined in Section 3 of the Federal Deposit
Insurance Act, any subsidiary institution that is owned and controlled by a depository institution,
and employees of any of the foregoing. Bank holding companies and subsidiaries of bank holding
companies, thrift holding companies and subsidiaries of thrift holding companies, trust companies,
savings or building and loan associations, savings banks and other thrift institutions, credit
unions, and all other affiliates of each of the above persons if more than 50 percent of the
affiliate's shares or other ownership interests are owned or controlled by such person, and
federally or state constituted agencies and employees of any of the foregoing. (2) Any person
licensed under Section 5-19-22. (3) An attorney licensed to practice law in Alabama who is
not principally engaged in negotiating mortgage loans...
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41-10-626
Section 41-10-626 Bonds of the authority. (a) General. The authority is authorized from time
to time to sell and issue its bonds in limited amounts and for the purpose of promoting economic
development and industrial recruitment as specified by the Legislature from time to time by
separate act, provided that refunding bonds may be issued by the authority pursuant to Section
41-10-627 without first obtaining separate authorization from the Legislature. (b) Sources
of payment. Bonds issued by the authority shall be solely and exclusively an obligation of
the authority and shall not create an obligation or debt of the state. Such bonds shall not
be general obligations of the authority but shall be payable solely from one or more of the
following sources: (1) Appropriated funds. (2) The income or proceeds realized by the authority
under any mortgage or security granted to the authority. (3) Amounts derived from any letter
of credit, insurance policy, or other form of credit enhancement...
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41-10-755
Section 41-10-755 Bonds of the authority. (a) General. The authority is authorized from time
to time to sell and issue its bonds for the purpose of providing funds to be transferred to
and deposited in the Alabama Trust Fund and the Rainy Day Account, to provide additional funds
to the Alabama Medicaid Agency, for paying the costs of transportation projects, and for the
purpose of refunding any or all of the authority's outstanding bonds. (b) Sources of payment.
Bonds issued by the authority shall be solely and exclusively an obligation of the authority
and shall not create an obligation or debt of the state. Such bonds shall not be general obligations
of the authority but shall be payable solely from one or more of the following sources: (1)
Appropriated funds. (2) The income or proceeds realized by the authority under any mortgage
or security granted to the authority. (3) Amounts derived from any letter of credit, insurance
policy, or other form of credit enhancement applicable to...
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