11-97-12
Section 11-97-12 Refunding bonds. (a) Any bonds issued or assumed by a corporation may from time to time be refunded by the issuance, by sale or exchange, of refunding bonds payable from the same or different sources for the purpose of paying all or any part of the principal of the bonds to be refunded, any redemption premium required to be paid as a condition to the redemption prior to maturity of any such bonds that are to be so redeemed in connection with such refunding, any accrued and unpaid interest on the bonds to be refunded, any interest to accrue on each bond to be refunded to the date on which it is to be paid, whether at maturity or by redemption prior to maturity, and the expenses incurred in connection with such refunding including, without limitation to, attorneys' fees, costs of printing the refunding bonds, financial advisors' fees and accountants' fees; provided, that unless such bonds are duly called for redemption pursuant to provisions contained therein, the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-97-12.htm - 2K - Match Info - Similar pages
9-10-36
Section 9-10-36 Issuance of bonds; issuance of notes and renewal notes; redemption of notes or bonds; liability on notes or bonds; disposition of proceeds from sale of bonds; issuance of interim receipts, etc. (a) Any such corporation is hereby authorized to provide by resolution for the issuance of bonds of the corporation for any of its corporate purposes, including the refunding of its bonds. The principal of and the interest on any issue of such bonds shall be payable solely from, and may be secured by a pledge of, tolls, rentals, sales receipts and other revenues of all or any part of the project or projects financed in whole or in part with the proceeds of such bond issue or with the proceeds of bonds refunded or to be refunded by such issue. The proceeds of any such bonds may be used or pledged for the payment or security of the principal or of the interest on bonds and for the establishment of any or all reserves for such payment or security or for other corporate purposes as...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-10-36.htm - 5K - Match Info - Similar pages
22-30B-2.2
Section 22-30B-2.2 Pledge and appropriation of funds for Public Health Finance Authority. For the purpose of providing funds, not to exceed $4,500,000.00 during any fiscal year of the state, for the Alabama Public Health Finance Authority to pay at their respective maturities the principal of premiums, if any, and interest on any bonds issued by it under the provisions of Sections 22-3A-1 to 22-3A-24, inclusive, there is hereby irrevocably pledged for said above purpose and hereby appropriated the annual amount necessary, not to exceed $4,500,000.00 during any fiscal year of the state, from the first receipts after payment of any guarantees in Section 22-30B-2.1 of the fees that are levied on the disposal of waste, hazardous waste or hazardous substances pursuant to this act and that were not theretofore appropriated and paid into the General Fund of the State of Alabama (i.e., the amount resulting from the additional fee of $72.00 per ton for all waste or substances disposed of at...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-30B-2.2.htm - 2K - Match Info - Similar pages
41-10-93
Section 41-10-93 Authority for issuance of bonds by corporation; liability upon bonds; form, terms, denominations, etc.; redemption; sale; payment of expenses in connection with authorization, sale and issuance; bonds to contain recital as to authority for issuance; bonds to be deemed negotiable instruments. The corporation is authorized at any time and from time to time to issue its interest-bearing revenue bonds for the purpose of acquiring, constructing, improving, enlarging, completing and equipping one or more projects. The principal of and interest on any such bonds shall be payable solely out of the rent, revenues and income derived from the project with respect to which such bonds are issued. None of the bonds of the corporation shall ever constitute an obligation or debt of the state, the county or the municipality or a charge against the credit or taxing power of the state, the county or municipality. The bonds of the corporation may be in such form and denomination, may be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-93.htm - 3K - Match Info - Similar pages
22-21-323
Section 22-21-323 Source of payment; security. (a) Securities issued by an authority shall not be general obligations of the authority but shall be payable solely out of the revenues from any health care facilities or other properties or assets (including, without limitation, proceeds from such securities, investment income and insurance and condemnation proceeds) owned or operated by it and the proceeds of any hospital tax appropriated, apportioned or allocated to it or for its benefit, or any portion of either thereof, all as may be provided or specified in the resolution of the board authorizing such securities or the indenture under which issued. The principal of and interest (and premium, if any) on any securities issued by the authority shall be secured by a pledge of the revenues or taxes (or both) out of which the same are payable and may be secured by a trust indenture evidencing such pledge or by a foreclosable mortgage, mortgage indenture or mortgage and trust indenture...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-323.htm - 4K - Match Info - Similar pages
40-25-23
Section 40-25-23 Disposition of funds. All revenues collected under the provisions of this article, except as otherwise provided, shall be paid to the Department of Revenue by check or draft made payable to the Treasurer of Alabama, and shall be distributed in the following manner: (1) All of the revenue derived from the tax levied upon cigarettes by Sections 40-25-2 and 40-25-41 shall be deposited in the State Treasury and 38.82 percent of such revenue shall be divided as follows: a. Six and six one-hundredths percent to the credit of the State Public Welfare Trust Fund, which is hereby appropriated for general welfare purposes. In this section, "general welfare purposes" means: 1. The administration of public assistance as set out in Sections 38-2-5 and 38-4-1; 2. Services, including supplementation and supplementary services under the federal Social Security Act, to or on behalf of persons to whom such public assistance may be given under Section 38-4-1; 3. Services to and on behalf...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-25-23.htm - 8K - Match Info - Similar pages
23-1-175.1
Section 23-1-175.1 Infrastructure improvements. (a) In order to accomplish infrastructure improvements contemplated for the benefit of the Alabama State Docks, the Alabama Highway Finance Corporation shall have the following powers, in addition to all powers set forth in this article. (1) To borrow money and issue its bonds in evidence thereof, in a principal amount not to exceed one hundred fifty million dollars ($150,000,000), for the purpose of financing the widening and deepening of the Mobile Ship Channel and improvements related thereto. No bond issued by the corporation for this purpose shall have a specified maturity date later than twenty years after its issuance date. (2) To issue from time to time one or more series of refunding bonds for the purpose of refunding any bonds issued pursuant to subdivision (1) or bonds previously issued to refund such bonds, in any case, however, having a final maturity that is not later than the final maturity of the bonds being refunded. (3)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-1-175.1.htm - 3K - Match Info - Similar pages
11-47-226
Section 11-47-226 Loans, donations, performance of services, etc., by county, municipality, or other political subdivision, etc., to achieve objectives of article; funding agreements; amount of indebtedness under funding agreements. (a) For the purpose of attaining the objectives of this article, any county, municipality, or other political subdivision, or public corporation, agency, or instrumentality of the state, a county, or municipality, may, upon such terms and with or without consideration, as it may determine, do any or all of the following: (1) Lend or donate money to an authority or perform services for the benefit thereof. (2) Donate, sell, convey, transfer, lease, or grant to an authority, without the necessity of authorization at any election of qualified voters, any property of any kind. (3) Do any and all things, whether or not specifically authorized in this section, not otherwise prohibited by law, which are necessary or convenient to aid and cooperate with an...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-47-226.htm - 4K - Match Info - Similar pages
11-81-4
Section 11-81-4 Issuance of refunding interest-bearing certificates of indebtedness, warrants or notes by municipalities; pledge of tax, revenues, etc., for payment of principal and interest on same. The governing body of any municipality in this state is hereby authorized to issue, without an election, refunding interest-bearing certificates of indebtedness or refunding interest-bearing warrants or refunding interest-bearing notes maturing at such time or times as the governing body may determine, not exceeding 30 years from their respective dates, for the purpose of funding or refunding outstanding certificates of indebtedness or warrants or notes of such municipality or any outstanding revenue bonds of such municipality issued under the provisions of Article 5 of Chapter 81 of Title 11 as amended, or predecessor statute or any combination thereof, whether the same are due at the time of such funding or refunding or at a later date, in an aggregate principal amount not exceeding the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-81-4.htm - 2K - Match Info - Similar pages
11-95-8
Section 11-95-8 Bonds of corporation - From what source payable; pledge of revenues; execution; form, interest rate, maturity, sale, and negotiability; nature of obligation and source of payment; investment eligibility. (a) All bonds issued by a corporation shall be payable solely from one or more of the following sources as may be designated in the proceedings of the board under which such bonds shall be authorized to be issued: (1) Hospital taxes; and (2) Revenues from any hospital facilities owned or operated by it. (b) The principal of and interest on any bonds issued by a corporation shall be secured by a pledge of the designated revenues and may be secured by a trust indenture evidencing such pledge or by a non-foreclosable mortgage and deed of trust conveying as security for such bonds all or any part of the property of the corporation from which any part of the designated revenues so pledged may be derived. The resolution of the board under which the bonds are authorized to be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-95-8.htm - 4K - Match Info - Similar pages
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