23-7-17
Section 23-7-17 Bonds authorized. (a) Whenever it shall become necessary that monies be raised for qualified projects, including monies to be used to refund any bonds then outstanding, the bank may issue bonds as provided in this chapter. (b) The bank may pledge any of its revenue or funds to the payment of its bonds, subject to any prior pledges for other outstanding bonds or other financial assistance of the bank and, in the case of those revenues described in subdivisions (1) and (2) of subsection (a) and subsection (b) of Section 23-7-6, pledges by Alabama Federal Aid Highway Finance Authority and Alabama Highway Finance Corporation of the revenues for bonds issued by those entities. Bonds may be secured by a pledge of any loan obligation owned by the bank, any grant, contribution, or guaranty from the United States, the state, or any corporation, association, institution, or person, any other financial assistance provided by the bank, any bond insurance, guarantees, letters of...
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23-7-29
Section 23-7-29 Other financial assistance authorized. (a) The granting of other financial assistance by the bank shall be authorized by a resolution of the bank. (b) The bank may execute instruments and enter into financing agreements, including, without limitation, a trust indenture between the bank and a corporate trustee, which may be the State Treasurer or any bank having trust powers or any trust company doing business in this state, containing the terms and conditions as the bank shall determine in connection with the provision of other financial assistance and securing its obligations with respect to other financial assistance. (c) The bank may pledge any of its revenues or funds to the payment of other financial assistance provided by the bank, subject to any prior pledges for outstanding bonds or other financial assistance of the bank and, in the case of those revenues described in subdivisions (1) and (2) of subsection (a) and subsection (b) of Section 23-7-6, the pledges by...
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23-7-6
Section 23-7-6 Funding; pledge of revenues. (a) The following sources may be used to capitalize the bank and for the bank to carry out its purposes: (1) An annual contribution, as determined by the Director of the Department of Transportation and approved by the Governor, of an amount not to exceed revenues produced by one cent ($.01) a gallon of the tax on gasoline imposed pursuant to subdivision (1) of subsection (a) of Section 40-17-325. Any funds contributed pursuant to this subdivision shall be derived from the gasoline tax proceeds collected during the fiscal year remaining in the Public Road and Bridge Fund after distributions of the tax to the cities and counties. (2) An annual contribution, as determined by the Director of the Department of Transportation and approved by the Governor, of an amount of the revenues collected during the fiscal year pursuant to Section 40-12-248, not to exceed the balance remaining in the Public Road and Bridge Fund pursuant to Section...
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23-1-177
Section 23-1-177 Bonds - Generally. (a) The bonds of the corporation shall be signed by its president and attested by its secretary, and the seal of the corporation shall be affixed thereto or printed or otherwise reproduced thereon; provided, that a facsimile of the signature of one, but not both, of the officers may be printed or otherwise reproduced on any such bonds in lieu of his or her signing the same. (b) Any bonds of the corporation may be executed and 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 payable and evidenced in such manner, may contain provisions for redemption prior to maturity, and may contain such other provisions not inconsistent with this article, all as may be provided by the resolution of the board of directors under which such bonds are authorized to be issued; provided, that no bond of the corporation shall have a specified maturity date...
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23-1-301
Section 23-1-301 Definitions. When used in this article, the following words and phrases shall have the following respective meanings unless the context clearly indicates otherwise: (1) AUTHORITY. The Alabama Federal Aid Highway Finance Authority, a public corporation and instrumentality of the state authorized to be organized under the provisions of this article. (2) BOARD OF DIRECTORS. The board of directors of the authority. (3) BONDS. The bonds, including refunding bonds issued to refund outstanding obligations, that in this article are authorized to be sold and issued by the authority. (4) CORPORATION. The authority. (5) HIGHWAY GASOLINE TAX. The excise tax levied under subdivision (1) of subsection (a) of Section 40-17-325, with the exception of those portions of the tax levied on aviation fuel and marine gasoline. (6) LEGISLATURE. The Legislature of Alabama. (7) NET GASOLINE TAX PROCEEDS. The entire proceeds from the highway gasoline tax less the cost of collection and less any...
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23-6-8
Section 23-6-8 Bonds of corporation; annual appropriation from state Public Road and Bridge Fund. (a) The bonds of the corporation shall be signed by its president and attested by its secretary and the seal of the corporation shall be affixed thereto or a facsimile thereof printed or otherwise reproduced thereon. The signatures of both the president and the secretary on any bonds may be facsimile signatures if the board of directors, in its proceedings with respect to issuance of the bonds, provides for manual authentication thereof, or manual execution of certificates of registration thereon, by a trustee, registrar, or paying agent or by named individuals who are employees of the state assigned to the Finance Department or the State Treasurer's office. Any bonds of the corporation may be executed and delivered by it at any time and shall be in the form and denominations and of the tenor and maturities, shall bear the rate or rates of interest payable and evidenced in such manner, may...
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11-97-8
Section 11-97-8 Powers of corporation; location of facilities of corporation. (a) Every corporation shall have all of the powers necessary and convenient to carry out and effectuate the purposes and provisions of this chapter, including (without limiting the generality of the foregoing) the following powers: (1) To have succession in its corporate name for the duration of time (which may be in perpetuity, subject to the provisions of Section 11-97-22 hereof) specified in its certificate of incorporation; (2) To sue and be sued in its own name in civil suits and actions and to defend suits against it; (3) To adopt and make use of a corporate seal and to alter the same at pleasure; (4) To adopt, alter, and repeal bylaws, regulations, and rules, not inconsistent with the provisions of this chapter, for the regulation and conduct of its affairs and business; (5) To acquire, whether by gift, purchase, transfer, foreclosure, lease, or otherwise, to construct and to expand, improve, operate,...
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11-92C-8
Section 11-92C-8 Powers of authority. (a) The authority shall have the following powers, together with all powers incidental thereto or necessary to the discharge thereof in corporate form: (1) To have succession by its corporate name for the duration of time, which may be in perpetuity, subject to Section 11-92C-20, specified in its certificate of incorporation. (2) To sue and be sued in its own name and to prosecute and defend civil actions in any court having jurisdiction of the subject matter and of the parties; provided that the authority shall be deemed to be a governmental entity as defined in Chapter 93 of this title for the purpose of limiting the damages for which the authority may be liable. (3) To adopt and make use of a corporate seal and to alter the seal at its pleasure. (4) To adopt and alter bylaws for the regulation and conduct of its affairs and business. (5) To acquire, whether by purchase, construction, exchange, gift, lease, or otherwise, and to refinance existing...
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11-99B-12
Section 11-99B-12 Loans, sales, grants, guarantees, contractual or lease obligations of money or property, to district by counties, municipalities, and public corporations. (a) For the purpose of securing services of or the right to use or the use by its citizens or customers of one or more projects of a district, or aiding or cooperating with the district in the planning, development, undertaking, acquisition, construction, extension, improvement, financing, operation, or protection of a project, any county, municipality, or other political subdivision, public corporation, agency, or instrumentality of this state may, upon such terms and with or without consideration, as it may determine: (1) Lend or donate money to, guarantee all or any part of the indebtedness or operating expense of, or perform services for the benefit of, the district. (2) Donate, sell, convey, transfer, lease, or grant to the district, without the necessity of authorization at any election of qualified voters,...
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2-3A-7
Section 2-3A-7 Powers of authority; open meetings. (a) The authority shall have the following powers, together with all powers incidental thereto or necessary to the discharge thereof in corporate form: (1) To have succession by its corporate name for the duration of time (which may be perpetuity, subject to the provisions of Section 2-3A-14) specified in its certificate of incorporation; (2) To sue and be sued in its own name in civil suits and actions, and to defend suits against it; (3) To adopt and make use of a corporate seal and to alter the same at pleasure; (4) To adopt, alter and repeal bylaws, not inconsistent with the provisions of this article, for the regulation and conduct of its affairs and business; (5) To loan its funds to one or more persons to be used by such persons to pay the costs of agricultural operations, such loans to be on such terms and conditions, and for such period of time, and secured or evidenced by such mortgages, deeds of trust, notes, debentures,...
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