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24-1-74
Section 24-1-74 Mortgages of authority property in connection with government financed projects.
In connection with any project financed in whole or in part by a government, the authority
shall also have power to mortgage all or any part of its property, real or personal, then
owned or thereafter acquired, and thereby: (1) To vest in a government the right, upon the
happening of an event of default, as defined in such mortgage, to foreclose such mortgage
through judicial proceedings or through the exercise of a power of sale without judicial proceedings,
so long as a government shall be the holder of any of the bonds secured by such mortgage.
(2) To vest in a trustee or trustees the right, upon the happening of an event of default,
as defined in such mortgage, to foreclose such mortgage through judicial proceedings or through
the exercise of a power of sale without judicial proceedings, but only with the consent of
the government which aided in financing the housing project involved....
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34-36-13
Section 34-36-13 License required; exemptions. (a) No person shall engage in the electrical
contracting business or perform work as a master or journeyman electrician unless such person
shall have received a license from the board or from the county or municipality where the
electrical contracting work is being performed; provided, however, the provisions of this
chapter shall not apply: (1) To the installation, construction, or maintenance of power systems
for the generation and secondary distribution of electric current constructed under the provisions
of the National Electrical Safety Code which regulates the safety requirements of utilities.
(2) To the installation, construction, maintenance, or repair of telephone or signal systems
by or for public utilities or their corporate affiliates, when such work pertains to the services
furnished by such utilities. (3) To any technician employed by a municipal franchised CATV
system. (4) To any master or journeyman electrician employed by...
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39-2-12
Section 39-2-12 Partial and final payments of contractors by awarding authorities. (a) As used
in this section the following words shall have the meanings ascribed to them as follows: (1)
CONTRACTOR. Any natural person, partnership, company, firm, corporation, association, limited
liability company, cooperative, or other legal entity licensed by the Alabama State Licensing
Board for General Contractors. (2) NONRESIDENT CONTRACTOR. A contractor which is neither a.
organized and existing under the laws of the State of Alabama, nor b. maintains its principal
place of business in the State of Alabama. A nonresident contractor which has maintained a
permanent branch office within the State of Alabama for at least five continuous years shall
not thereafter be deemed to be a nonresident contractor so long as the contractor continues
to maintain a branch office within Alabama. (3) RETAINAGE. That money belonging to the contractor
which has been retained by the awarding authority conditioned on...
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11-99B-11
Section 11-99B-11 Establishment and revision of rentals, licenses, rates, fees, and charges
for services or facilities rendered by district. Rates, fees, charges, rentals, and licenses
for services rendered by the district or facilities provided by the district from any of its
projects shall be so fixed and, from time to time, revised as at all times to provide funds
at least sufficient, taking into account other sources for the payment thereof, to: (1) Pay
the cost of operating, maintaining, repairing, replacing, extending, and improving the project
or projects of the district. (2) Pay the principal of and the interest on all bonds issued
and obligations assumed by the district that are payable out of the revenues derived from
operation of the project or projects of the district as the said principal and interest become
due and payable. (3) Create and maintain such reserves for the foregoing purposes or any of
them as may be provided in any trust indenture executed by the district...
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40-17-371
Section 40-17-371 Cost of collection; distribution of tax proceeds. (a) The Alabama Department
of Revenue shall retain one-quarter of one percent (0.25%) of the tax proceeds, less any refunds,
from this additional excise tax on gasoline and diesel fuel for its cost of collection. The
department may adopt rules and such forms as may be necessary for the administration of the
excise tax provided for in this article. (b) Each month, prior to the remaining payments provided
in this article, up to $750,000 of the tax proceeds from the additional excise tax on gasoline
and up to $230,000 of the tax proceeds from the additional excise tax on diesel fuel shall
be distributed first to the Alabama Highway Finance Corporation for the payment of the principal
of and interest on bonds to be issued by it to finance improvements to the ship channel providing
access to the facilities of the Alabama State Docks, to the extent necessary for such purpose.
The amount distributed pursuant to this section...
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45-14-91.01
Section 45-14-91.01 Clay County Industrial Development Council - Powers and duties; headquarters;
bylaws; retirement system. (a) The council may select a formal name for the council. The council
shall have the authority to negotiate for the county on all industrial and economic development
matters. The council shall formulate and implement plans to promote and foster the industrial
development and economic growth of all areas of Clay County and any incorporated municipalities
located within the county. The council shall be entitled to all of the powers, rights, privileges,
exemptions, immunities, and authority provided by the general laws of Alabama to local industrial
development authorities, including, but not limited to, abatement of taxes, issuance of bonds,
acquisition, enlargement, improvement, replacement, ownership, leasing, selling, or disposing
of properties to the end that the council may be able to promote the creation of jobs and
develop commerce and trade within 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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11-57-15
Section 11-57-15 Bonds - Security for payment of principal and interest. The principal of and
the interest on the bonds shall be secured by a pledge of the revenues out of which the bonds
shall be made payable by an assignment or pledge of the lease agreement covering the project
from which revenues so pledged shall be derived and by a pledge of the rental from such project
and may be secured by a nonforeclosable indenture covering the project. The trustee under
any indenture may be a trust company or bank having trust powers, whether located within or
without the state. The indenture may contain any agreements and provisions customarily contained
in instruments securing evidences of indebtedness, including, without limiting the generality
of the foregoing, provisions respecting the collection, segregation and application of the
rental from any project covered by such indenture, the terms to be incorporated in the lease
agreement respecting the project, the maintenance and insurance of...
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24-1-6
Section 24-1-6 Establishment of rentals and tenant selection in low rent housing projects.
(a) It is declared to be the policy of this state that each housing authority shall manage
and operate its low rent housing projects in an efficient manner so as to enable it to fix
the rentals for dwelling accommodations at the lowest possible rates consistent with its providing
decent, safe, and sanitary dwelling accommodations for persons of low income, and that no
housing authority shall construct or operate any such project for profit, or as a source of
revenue of the city or town. To this end a housing authority shall fix the rentals for such
dwellings in its low rent housing projects at no higher rates than it shall find to be necessary
in order to produce revenues which, together with all other available moneys, revenues, income,
and receipts of such authority from whatever sources derived, including federal financial
assistance necessary to maintain the low rent character of the...
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40-16-1
Section 40-16-1 Definitions. For the purpose of this chapter, the following terms shall have
the respective meanings ascribed to them by this section: (1) FINANCIAL INSTITUTION. Any person,
firm, corporation, and any legal entity whatsoever doing business in this state as a national
banking association, bank, banking association, trust company, industrial or other loan company
or building and loan association, and such term shall likewise include any other institution
or person employing moneyed capital coming into competition with the business of national
banks, and shall apply to such person or institution regardless of what business form and
whether or not incorporated, whether of issue or not, and by whatsoever authority existing.
The common parent corporation of a controlled group of corporations eligible to elect to file
a consolidated excise tax return, in accordance with Section 40-16-3, shall be considered
a financial institution if such parent corporation is a registered bank...
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