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24-1-40
Section 24-1-40 Exemption of authority property from mortgage foreclosures, levy, and execution
and judgment liens. No interest of the authority in any property, real or personal, shall
be subject to sale by the foreclosure of a mortgage thereon, either through judicial proceedings
or the exercise of a power of sale contained in such mortgage, except in the case of the mortgages
provided for in Section 24-1-35. All property of the authority shall be exempt from levy and
sale by virtue of an execution, or other process, to the same extent as now enjoyed by the
properties of towns, cities, and counties of Alabama. No judgment against the authority shall
be a charge or lien upon its property, real or personal. The provisions of this section shall
not apply to or limit the right of obligees to foreclose any mortgage of the authority provided
for in Section 24-1-35 and, in case of a foreclosure sale thereunder, to obtain a judgment
for any deficiency due on the indebtedness secured thereby...
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24-1-78
Section 24-1-78 Exemption of authority property from mortgage foreclosures, levy, and execution
and judgment liens. No interest of the authority in any property, real or personal, shall
be subject to sale by the foreclosure of a mortgage thereon, either through judicial proceedings
or the exercise of a power of sale contained in such mortgage, except in the case of the mortgages
provided for in Section 24-1-74. All property of the authority shall be exempt from levy and
sale by virtue of an execution, or other process, to the same extent as now enjoyed by the
properties of towns, cities, and counties of Alabama. No judgment against the authority shall
be a charge or lien upon its property, real or personal. The provisions of this section shall
not apply to or limit the right of obligees to foreclose any mortgage of the authority provided
for in Section 24-1-74 and, in case of a foreclosure sale thereunder, to obtain a judgment
for any deficiency due on the indebtedness secured thereby...
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22-21-331
Section 22-21-331 Remedies for default in payment of securities or performance of lease agreement.
(a) If there should be any default in the payment of the principal of or interest on any securities
issued under this article, then the holder of any such securities and any coupons applicable
thereto (subject to any provision of the resolution or indenture under which such securities
were issued restricting the individual rights of action of any such holders or vesting such
rights exclusively in a trustee), and the trustee under any indenture, or any one or more
of them: (1) May, by mandamus, injunction or other proceedings, compel performance of all
duties of the directors and officers of the authority with respect to the use of funds for
the payment of such securities and for the performance of the agreements of the authority
contained in the proceedings under which they were issued; (2) Shall be entitled to a judgment
against the authority for the principal of and interest on the...
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16-17A-14
Section 16-17A-14 Default in payments. (a) If there should be any default in the payment of
the principal of, or interest on, any indebtedness issued under this chapter or of any agreements
contained in any security document, and the period for cure of the default has passed, then
the holder of the indebtedness and the trustee under any security document, or any one or
more of them, subject to the terms of the financing documents authorizing the indebtedness
or any security document applicable thereto: (1) May, by mandamus, injunction, or other proceedings,
compel performance of any covenant or agreement of the authority contained in any applicable
resolution or security document by its board or its officers. (2) May be entitled to a judgment
against the authority for the principal of and interest on the indebtedness so in default,
together with all reasonable costs of collection. (3) May, in the event the indebtedness is
secured by a mortgage on, or security interest in, any physical...
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37-11A-1
Section 37-11A-1 Execution and text of compact. The Governor, on behalf of this state, shall
execute a compact, in substantially the following form, with the State of Mississippi, and
the Legislature approves and ratifies the compact in the form substantially as follows: Northeast
Mississippi - Northwest Alabama Railroad Authority Compact. The contracting states solemnly
agree: Article I. The purpose of this compact is to promote and develop trade, commerce, industry,
and employment opportunities for the public good and welfare in northeast Mississippi and
northwest Alabama through the establishment of a joint interstate authority to acquire certain
railroad properties and facilities which the operator thereof has notified the Interstate
Commerce Commission of an intention to abandon and which are located in any of Franklin, Marion,
or Winston Counties, Alabama or in Alcorn or Tishomingo Counties, Mississippi. Article II.
This compact shall become effective immediately as to the State...
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24-1-61
Section 24-1-61 Definitions. The following terms, wherever used or referred to in this article
shall have the following respective meaning, unless a different meaning clearly appears from
the context: (1) AUTHORITY or HOUSING AUTHORITY. A public body organized as a body corporate
and politic in accordance with the provisions of this article for the purposes, with the powers
and subject to the restrictions set forth in this article. (2) COUNTY. All of the county except
that portion which lies within the territorial boundaries of any city or incorporated town.
(3) COUNTY COMMISSION. The governing body of any county. (4) HOUSING COMMISSIONER. One of
the members of an authority appointed in accordance with the provisions of this article. (5)
GOVERNMENT. Such term shall include the state and federal governments and any subdivision,
agency, or instrumentality, corporate or otherwise, of either of them. (6) STATE. The State
of Alabama. (7) FEDERAL GOVERNMENT. Such term shall include the...
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24-1-22
Section 24-1-22 Definitions. The following terms, wherever used or referred to in this article,
shall have the following respective meanings, unless a different meaning clearly appears from
the context: (1) AUTHORITY or HOUSING AUTHORITY. A public body organized as a body corporate
and politic in accordance with the provisions of this article for the purposes, with the powers
and subject to the restrictions set forth. (2) CITY. Any city or incorporated town in the
State of Alabama. (3) COUNCIL. The legislative body, council, board of commissioners or other
body charged with governing the city. (4) CITY CLERK and MAYOR. The clerk, and the mayor or
president of the board of commissioners, respectively, of the city or the officers thereof
charged with the duties customarily imposed on the clerk and mayor respectively. (5) COMMISSIONER.
One of the members of an authority appointed in accordance with the provisions of this article.
(6) GOVERNMENT. Such term shall include the state and...
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45-49A-10.05
Section 45-49A-10.05 Power to borrow money and issue revenue bonds. (a) The corporation shall
have the power to borrow money and to issue revenue bonds as evidence of any money borrowed,
which bonds shall be payable solely from the revenues derived from the activities and enterprises
in which the corporation is hereby authorized to engage. As security for any money so borrowed,
together with interest thereon, and any obligations incurred or assumed, the corporation in
its discretion may mortgage, pledge, or otherwise transfer and convey its real, personal,
and mixed property, or any part or parts thereof, whether then owned or thereafter acquired,
including any franchises then owned or thereafter acquired, and all or any part of the revenues
derived from the activities or enterprises in which the corporation is hereby authorized to
engage. (b) When the corporation deems it advisable, convenient, necessary, or expedient to
issue such bonds, it shall so resolve and all the provisions of...
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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...
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15-13-152
Section 15-13-152 Qualification for property bail. The qualifications for property bail are
that each surety be a resident of the state, and an owner of real property therein, and that
any property pledged shall be worth, exclusive of all encumbrances and homestead exemptions
presently against the property, the amount expressed in the appearance bond. Any proper approving
officer, in approving property bail, may allow more than one person to justify severally as
bail in amounts less than that expressed in the appearance bond, provided the whole be equivalent
to the amount in the appearance bond. The worth shall not be determined by the assessed value
of the property but shall be calculated, determined, and evaluated in the manner set forth
in the affidavit described in part (A) of this section. If the property owner(s) claim a homestead
exemption in the affidavit then they shall also execute the waiver of a homestead exemption
form as provided in part (B) below. The affidavit shall be...
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