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23-1-178
Section 23-1-178 Bonds - Disposition of proceeds. (a) The proceeds of all bonds, other than
refunding bonds, issued by the corporation remaining after paying the expenses of their issuance
shall be deposited in the State Treasury and credited to the Road and Bridge Fund, and shall
be subject to be drawn on by the corporation, upon the approval of the State Department of
Transportation, but solely for the purpose of constructing, reconstructing , or relocating
public roads and bridges, or work incidental or related thereto, including the acquisition
of property necessary therefor, in the State of Alabama; provided, that such funds may be
used only for payment of the state's share or the costs thereof to be paid by any county or
municipality within the state, of the cost of constructing, reconstructing, or relocating
public roads and bridges, or work incidental or related thereto, which have been or will be
constructed, reconstructed, or relocated under programs financed jointly by the...
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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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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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45-36-252.06
Section 45-36-252.06 Bonds of the authority; obligations. (a) In addition to all other powers
now or hereafter granted by law, the authority 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 the authority in order to provide funds for any corporate function,
use, or purpose, any such bonds to be payable solely out of one or more of the following:
a. Any or all proceeds or receipts from the privilege, license, or excise tax levied on the
sale, distribution, storage, use, or consumption of tobacco and certain tobacco products in
Jackson County by Section 45-36-247. b. Any or all proceeds from any tax received by the Jackson
County Commission which are required by law to be deposited to the credit of the Jackson County
Water Authority. c. The revenues derived from any water, sewer, or garbage system or facility
of the authority. (2) To pledge for payment of any bonds issued...
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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...
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11-92A-12
Section 11-92A-12 Powers of authority. An authority shall have the following powers, which
it may exercise in any county within such authority's authorized operational area: (1) To
have succession by its corporate name until dissolved as provided in this chapter; (2) To
institute and defend legal proceedings in any court of competent jurisdiction and proper venue;
provided, however, that an authority may not be sued in any trial court other than the courts
of a county within the authorized operational area of the authority; provided, further, that
the officers, directors, agents, and employees of an authority may not be sued for their actions
in behalf of the authority except for actions that are known by such person to be unlawful
or are performed with reckless disregard for the lawfulness of such actions; (3) To have and
to use a corporate seal and to alter the seal at its pleasure; (4) To establish a fiscal year;
(5) To anticipate by the issuance of its bonds the receipt of any...
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11-94-10
Section 11-94-10 Bonds of authority - From what source payable; form; denominations; terms;
redemption; sale; subsequent issues; negotiability. (a) All bonds and securities issued by
an authority shall be payable solely out of the revenues derived by the authority from the
leasing, sale or operation of any or all of its projects as may be designated in the proceedings
of its board under which the same shall be authorized to be issued. None of the bonds, securities
or notes of an authority shall ever constitute an obligation or debt of the state, of any
authorizing subdivision, or of any county or municipality of the state or a charge against
the credit or taxing powers of any of them. (b) Bonds of any authority may be executed and
delivered by the authority at any time and from time to time, may be in such form and denominations
and of such tenor and maturities, may be in registered or bearer form, either as to principal
or interest or both, may be payable at such time or times not...
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11-94-15
Section 11-94-15 Liability of authorizing subdivisions upon bonds, obligations and agreements
of authority; other actions by authorizing subdivisions to attain objectives of chapter. (a)
Neither of the authorizing subdivisions of an authority shall in any event be liable for the
payment of the principal of, interest and premium, if any, on any bonds of an authority or
for the performance of any pledge, assignment, indenture, obligation or agreement of any kind
whatsoever which may be undertaken by an authority and none of the bonds of an authority or
any of its agreements or obligations shall be construed to constitute an indebtedness of any
authorizing subdivision within the meaning of any constitutional or statutory provision whatsoever.
(b) For the purpose of attaining the objectives of this chapter, either of the authorizing
subdivisions, any other county or municipality of the state, and any other political subdivision,
public corporation, agency or instrumentality of the state or...
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11-92B-10
Section 11-92B-10 Powers and duties of authority. An authority shall have the following powers
and duties together with all powers and duties incidental thereto or necessary to the discharge
thereof: (1) To sue or be sued and to prosecute and defend in any court of competent jurisdiction.
(2) To adopt and to use a corporate seal and to alter the seal at pleasure. (3) To adopt and
alter bylaws for the regulation and conduct of its affairs and business. (4) With respect
to property within the operational area of the authority, to acquire, receive, and take title
to by purchase, gift, lease, devise, or otherwise, to hold, keep, improve, maintain, and impose
restrictive covenants and land use controls, to engage in environmental remediation and restoration
efforts as required under applicable agreements with the United States Department of Defense,
to equip, furnish, develop, and to transfer, convey, donate, sell, lease, grant options to,
assign, encumber with easements and mortgages and...
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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...
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