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24-2-8
Section 24-2-8 Federal financial aid. An authority or the governing body of any incorporated
city or town may borrow money or accept contributions from the federal government to assist
in its undertaking redevelopment projects. An authority or the governing body of any incorporated
city or town may do any and all things necessary or desirable to secure such financial aid,
including obligating itself in any contract with the federal government for annual contributions
to convey to the federal government the project to which said contract relates, upon the occurrence
of a substantial default thereunder, in the same manner as they may do to secure such aid
in connection with slum clearance and housing projects under the provisions of this title.
(Acts 1949, No. 491, p. 713, §7; Acts 1967, No. 416, p. 1070, §7.)...
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24-1-116
Section 24-1-116 Cooperation of authorities. Any two or more authorities may join or cooperate
with one another in the exercise, either jointly or otherwise, of any or all of their powers
for the purpose of financing (including the issuance of bonds, notes, or other obligations
and giving security therefor), planning, undertaking, owning, constructing, operating, or
contracting with respect to a housing project or projects located within the boundaries of
any one or more of said authorities. For such purpose an authority may by resolution prescribe
and authorize any other housing authority or authorities so joining or cooperating with it
to act on its behalf with respect to any or all of such powers. Any authorities joining or
cooperating with one another may by resolutions appoint from among the commissioners of such
authorities an executive committee with full power to act on behalf of such authorities with
respect to any or all of their powers, as prescribed by resolutions of such...
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16-18A-5
Section 16-18A-5 Revenue bonds - Issuance; negotiable, forms, terms, etc.; refunding bonds;
security. The authority shall have power and is hereby authorized from time to time to provide
by resolution for the issuance of negotiable revenue bonds for the purpose of paying all or
any part of the cost as herein defined of any of its projects. Such bonds may also be issued
to pay off, refund or refinance any outstanding bonds or other obligation of any nature owed
by the authority, whether or not such revenue bonds or other obligations shall then be subject
to redemption, and the authority may provide for such arrangements as it may determine for
the payment and security of the revenue bonds being issued or for the payment and security
of the revenue bonds or other obligations to be paid off, refunded or refinanced. The principal,
premium, if any, and interest of such revenue bonds shall be payable solely from the revenues,
receipts and earnings to be received by the authority in...
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11-99B-7
Section 11-99B-7 Powers of district generally; power of district to acquire and operate projects;
provisions in schedules of rates and charges generally. Each district 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 the provisions of Section 11-99B-15, specified in its
certificate of incorporation. (2) To sue and to be sued in its own name in civil actions,
and to defend civil actions against it; provided, that the district shall be deemed to be
a "governmental entity" as defined in Chapter 93 of this title, for the purposes
of limiting the damages for which the district and its members may be liable. (3) To adopt
and make use of a corporate seal and to alter the same at pleasure. (4) To adopt and alter
bylaws for the regulation and conduct of its affairs and business. (5) To acquire, receive,...
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39-7-33
Section 39-7-33 Purpose of chapter; chapter exclusive as to franchises, licenses, permits,
etc., for authorities. (a) This chapter is intended to aid the state in the execution of its
duties by providing appropriate and independent instrumentalities of the state with full and
adequate power to fulfill their functions. (b) Except as otherwise expressly provided in this
chapter, it shall not be necessary for any improvement authority incorporated under this chapter
to obtain, prior to engaging in an enterprise of furnishing a service or acquiring, constructing,
reconstructing, improving or extending a plant system, any certificate of convenience or necessity,
franchise, license, permit or any other authorization from any board, bureau, commission,
department or other like agency of the state or any county, city or town of the state. (Acts
1935, No. 40, p. 72; Code 1940, T. 50, §48.)...
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41-10-38
Section 41-10-38 Allocation formulae. (a) The state ceiling for calendar year 1989 and thereafter
is hereby allocated in its entirety to the state, and no other governmental unit, issuer,
or other entity of any type shall have or utilize any portion of the state ceiling for such
year except in accordance with this division. The state ceiling for calendar year 1989 and
thereafter shall be redistributed by the authority to issuers of affected bonds in the chronological
order of receipt of completed applications, subject to the limitations, reservations and further
provisions of this subsection. (1) There is hereby reserved for Alabama Housing Finance Authority
25 percent of the state ceiling for each calendar year, to be used for the issuance of exempt
facility bonds for qualified residential rental projects and for the issuance of qualified
mortgage bonds, in such relative principal amounts as shall be determined by the Board of
Directors of Alabama Housing Finance Authority. The...
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23-2-144
Section 23-2-144 Powers of the authority. (a) The authority shall have the following powers:
(1) To adopt bylaws for the regulation of its affairs and the conduct of its business. (2)
To adopt an official seal and alter the same at pleasure. (3) To maintain a principal office
and branch offices at the place or places within the state as it may designate. (4) To sue
and be sued in its own name, including suits in tort. (5) With the consent and approval of
the department, to acquire and construct toll road, bridge, or tunnel projects at locations
as the authority may determine to be desirable, practicable, and economically feasible and
to maintain, repair, and operate the projects. (6) To issue toll road, bridge, or tunnel revenue
bonds of the authority for any of its corporate purposes, payable solely from its tolls, other
revenues, and proceeds of the bonds, and to refund its bonds, all as provided in this article.
No bonds issued under the provisions of this article shall constitute a...
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41-10-547
Section 41-10-547 Bonds of the authority. (a) The authority is authorized from time to time
to sell and issue its bonds for the purpose of financing project costs pertaining to one or
more projects or for the purpose of providing funds to pay training facility management fees,
or any combination of the foregoing including, without limitation, in the case of authority
obligations issued for the purpose of providing funds to pay training facility management
fees, costs, expenses, and other items of the type described in paragraphs g., h., i., and
j. of the definition of project costs in Section 41-10-541 or to enter into guaranty agreements
wherein the authority guarantees payment, in whole or in part, of debt service referable to
obligations issued by development agencies for the purpose of financing project costs pertaining
to one or more projects; provided, however, that the principal amount of authority obligations
shall not exceed three hundred million dollars ($300,000,000). For...
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11-32-7
Section 11-32-7 Powers of authority. (a) The authority shall exercise powers and duties necessary
to the discharge of its powers and duties in corporate form as follows: (1) Have succession
by its corporate name in perpetuity subject to Section 11-32-20. (2) Sue and be sued in its
own name in civil suits and actions and defend suits against it. (3) Adopt and make use of
a corporate seal and alter the same at its pleasure. (4) Adopt and alter bylaws for the regulation
and conduct of its affairs and business. (5) Acquire, receive, take, by purchase, gift, lease,
devise, or otherwise, and hold property of every description, real, personal, or mixed, whether
located in one or more counties or municipalities and whether located within or outside the
authorizing county. (6) Make, enter into, and execute contracts, agreements, leases, and other
instruments and take other actions as may be necessary or convenient to accomplish any purpose
for which the authority was organized, or exercise any...
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45-28-40
Section 45-28-40 Banks. Any bank, whether incorporated or unincorporated, within the state,
now or hereafter situated in, or having a branch in, Etowah County, shall have the power to
establish, maintain, and operate within the limits of the county, where a place of business
of such bank is situated, one or more branches or branch banks, branch offices, branch agencies,
additional offices or branch places of business for the receipt of deposits, payment of checks,
lending of money, and the conduct of a general banking and trust business, provided that such
bank, before the establishment of any such branch or branches, shall first secure the written
consent of the State Superintendent of Banks and meet the requirements of the appropriate
regulatory banking authorities. Provided, however, that any branch bank established under
this section shall be within the corporate limits of a municipality, in Etowah County and,
where the population of the municipality was less than 3,000 persons...
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