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11-20-6
Section 11-20-6 Bonds - Security for payment of principal and interest; remedies upon default.
The principal of and interest on any bonds issued under the authority of this article 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 insurance of such project, the creation and maintenance
of special funds from the revenues from such project...
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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
11-61A-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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11-89B-1
Section 11-89B-1 Public corporation given power to sell and issue bonds, to pledge for payment
proceeds, revenues, etc., and to issue bonds or notes for temporary borrowing. In addition
to all other powers now or hereafter granted by law, each public corporation organized under
the laws of the State of Alabama which is authorized by law (i) to operate a water system
consisting of land, plants, systems, facilities, buildings and other property, or any combination
of any thereof, which are used or useful or capable of future use in providing, furnishing,
supplying or distributing water and (ii) to borrow money for use for one or more of its corporate
purposes shall have the following powers, together with all powers incidental thereto or necessary
to the discharge thereof in corporate form: (1) To sell and issue bonds of such public corporation
in order to provide funds for any corporate function, use or purpose for which such public
corporation is otherwise authorized by law to borrow...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-89B-1.htm - 3K - Match Info - Similar pages
37-13-11
Section 37-13-11 Bonds of authority - Generally. Each authority shall have the power and is
hereby authorized at any time and from time to time to issue and sell its revenue bonds for
any of its corporate purposes. The principal of and the interest on all such bonds shall be
payable solely from, and may be secured by a pledge of, the revenues derived by the authority
from the operation, leasing or sale of any or all of its railroad properties and facilities,
and other property. No bonds issued or contracts entered into by the authority shall ever
constitute or create an obligation or debt of the state, or of any county, city or town within
the state, or a charge against the credit or taxing powers of the state, or of any county,
city or town within the state. Bonds of the authority may be issued by any time and from time
to time, may be in such form, either in bearer form with appurtenant coupons (and subject
to registration as to principal or interest, or both, all as the board may...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-13-11.htm - 3K - Match Info - Similar pages
40-9-14.1
Section 40-9-14.1 Certificates of exemption to governmental entities, contractors, etc., for
certain tax exempt projects. (a) For the purposes of this section, the term governmental entity
means the State of Alabama and its political subdivisions, including a county, a municipality,
an industrial or economic development board or authority, and any public water or sewer authority,
district, system, or board that otherwise is sales and use tax exempt. A governmental entity
shall also include an educational institution of any of the foregoing Alabama political subdivisions
including a public college or university, a county or city board of education, and the State
Board of Education. (b)(1) The Department of Revenue shall issue a certificate of exemption
to the governmental entity for each tax exempt project. (2) The Department of Revenue shall
grant a certificate of exemption from state and local sales and use taxes to any contractor
licensed by the State Licensing Board for General...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-9-14.1.htm - 5K - Match Info - Similar pages
41-10-750
Section 41-10-750 Legislative Findings and Purpose. (a) The Legislature finds and declares
the following: (1) In recent years, withdrawals have been made from the Alabama Trust Fund
and the General Fund Rainy Day Account of the Alabama Trust Fund for current budgetary purposes.
The Constitution and laws of the State of Alabama require repayment of the withdrawals and
the Legislature recognizes the need to restore those funds to their prescribed levels. (2)
It is desirable and in the public interest to establish a public corporation of the State
of Alabama with the power to issue bonds for the purpose of making transfers to and deposits
in the Alabama Trust Fund and the General Fund Rainy Day Account of the Alabama Trust Fund,
to provide additional funds to the Alabama Medicaid Agency, and for paying the costs of transportation
projects, and to appropriate and pledge a portion of the revenues to be received by the state
from the settlement of certain claims against BP Exploration and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-750.htm - 2K - Match Info - Similar pages
41-4-16
Section 41-4-16 Consent of department prerequisite to issuance of securities by state commissions,
authorities, etc.; exceptions. No bonds or other evidences of indebtedness of any commission
or authority created to construct or reconstruct highway bridges, approaches and appurtenances
thereto, any state rural electrification authority, any electric membership corporation, any
power district, or any improvement authority shall be issued or sold until the consent to
the issuance and sale thereof shall have been given by the Department of Finance, to be evidenced
by the written approval of the Director of Finance. Such consent shall be granted only after
a public hearing and after a petition requesting such consent has been duly filed by the corporation,
authority, district, commission, or other body seeking such consent with the department more
than five days before the public hearing. The petition shall specify the plan or program of
the body seeking the consent and the uses to which...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-4-16.htm - 2K - Match Info - Similar pages
9-10A-14
Section 9-10A-14 Powers of board. The board of directors of a watershed management authority
shall have power to: (1) Acquire, by purchase, gift, grant, bequest or devise, or through
condemnation proceedings held in the manner provided by Chapter 1A of Title 18, such lands
or rights-of-way as are necessary for the exercise of any authorized function of the authority.
Prior to commencing condemnation proceedings upon land or rights-of-way in the manner provided
by Chapter 1A of Title 18, the board of directors of a watershed management authority shall
conduct a public hearing regarding the commencement of said condemnation proceedings. The
board of directors, prior to the public hearing shall publish notice of the public hearing
at least twice, with an interval of at least seven days between the two publication dates,
in a newspaper or other publication of general circulation within the county or counties where
the land or right-of-way is situated. If no such publication of general...
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11-43A-85
Section 11-43A-85 Qualifications of city manager; duties and powers; designation or appointment
of administrative officer to perform duties of manager during temporary absence or disability.
(a) The city manager shall be chosen by the council solely on the basis of his executive and
administrative qualifications with special reference to his actual experience in, or his knowledge
of, accepted practice with respect to the duties of his office as hereinafter set forth. At
the time of appointment, the city manager may but need not be a resident of the municipality
or state, but within 90 days of the beginning of employment, he shall become a resident and
shall continue to reside within the municipality during his employment. (b) The city manager
shall be the head of the administrative branch of the municipal government. He shall be responsible
to the council for the proper administration of all affairs of the municipality and, subject
to the provisions of any civil service or merit system...
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