24-9-7
Section 24-9-7 Disposition of tax delinquent properties. (a) The authority shall adopt rules and regulations for the disposition of property in which the authority holds a legal interest, which rules and regulations shall address the conditions set forth in this section. (b) The authority may manage, maintain, protect, rent, repair, insure, alter, convey, sell, transfer, exchange, lease as lessor, or otherwise dispose of property or rights or interests in property in which the authority holds a legal interest to any public or private person for value determined by the authority on terms and conditions, and in a manner and for an amount of consideration the authority considers proper, fair, and valuable, including for no monetary consideration. The transfer and use of property under this section and the exercise by the authority of powers and duties under Act 2013-249 shall be considered a necessary public purpose and for the benefit of the public. (c) Before the authority may sell,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/24-9-7.htm - 4K - Match Info - Similar pages
24-9-6
Section 24-9-6 Acquisition of tax delinquent properties. (a) The authority, at such times as it deems to be appropriate, may submit a written request to the Land Commissioner of the Alabama Department of Revenue for the transfer of the state's interest in certain properties to the authority. Upon receipt of such request, the Land Commissioner shall issue a tax deed conveying the state's interest in the property to the authority. The authority shall not be required to pay the amount deemed to have been bid to cover delinquent taxes or any other amount in order to obtain the tax deed. (b) (1) Delinquent property which may be transferred by the Land Commissioner to the authority shall be limited to parcels which have been bid in for the state pursuant to Chapter 10 of Title 40 for at least five years and the state's interest in real property acquired pursuant to Chapter 29 of Title 40 for delinquent taxes administered by the state and held for at least five years. (2) The Land...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/24-9-6.htm - 2K - Match Info - Similar pages
45-37-90.06
bonds shall be payable solely from taxes made payable to the authority by any act of the Legislature heretofore or hereafter adopted and from the revenues of the authority derived from the activities, operations, and enterprises in which the authority is hereby authorized to engage. As security for any money so borrowed, together with interest thereon, and any obligations incurred or assumed, the authority, 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 taxes payable to the authority under any act of the Legislature heretofore or hereafter adopted, and all or any part of revenues desired from the activities, operation, and enterprises in which the authority is hereby authorized to engage. In the resolution authorizing such revenue bonds or the mortgage given to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37-90.06.htm - 9K - Match Info - Similar pages
45-39A-11.05
bonds shall be payable solely from taxes made payable to the authority by an act of the Legislature heretofore or hereafter adopted and from the revenues of the authority derived from the activities, operations, and enterprises in which the authority is hereby authorized to engage. As security for any money so borrowed, together with interest thereon, and any obligations incurred or assumed, the authority, 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 taxes payable to the authority under any act of the Legislature heretofore or hereafter adopted and all or any part of revenues derived from the activities, operation, and enterprises in which the authority lawfully engages. In the resolution authorizing such revenue bonds or the mortgage given to secure the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-39A-11.05.htm - 9K - Match Info - Similar pages
11-92C-8
in Chapter 93 of this title for the purpose of limiting the damages for which the authority may be liable. (3) To adopt and make use of a corporate seal and to alter the seal at its pleasure. (4) To adopt and alter bylaws for the regulation and conduct of its affairs and business. (5) To acquire, whether by purchase, construction, exchange, gift, lease, or otherwise, and to refinance existing indebtedness on, improve, maintain, equip, and furnish one or more projects, including all real and personal properties which the board of the authority may deem necessary in connection therewith, regardless of whether or not the projects shall then be in existence. (6) To lease to others any or all of its projects and to share and collect rent thereof, and to terminate any lease upon the failure of the lessee to comply with any of the obligations thereof. (7) To sell, exchange, donate, or convey and to grant options to any lessee to acquire any of its projects and any or all of its properties if...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-92C-8.htm - 12K - Match Info - Similar pages
11-20-74
Section 11-20-74 Borrowing of money; security. (a) Subject to the conditions, qualifications, and restrictions set forth in subsection (b), an agriculture authority may borrow money from any person or governmental entity. As security for any money borrowed, together with interest thereon, and any obligations incurred or assumed, an agriculture authority 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 owed or thereafter adopted and all or any part of any funds of the authority. In a resolution authorizing the mortgage given to secure the payment thereof, an agriculture authority, in addition to its other powers, shall have the power to agree with the several holders of the mortgage to make, enter, and perform covenants and agreements as to all of the following: (1) The conduct, management, and maintenance of the properties held by the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-20-74.htm - 3K - Match Info - Similar pages
11-101A-8
subject, however, to Chapter 93 of this title, which chapter is hereby made applicable to the authority. (3) To adopt, alter, amend, and repeal bylaws, regulations, and rules for the regulation and conduct of its affairs and business. (4) To adopt and make use of a corporate seal and to alter the same at pleasure. (5) To acquire, whether by purchase, construction, exchange, gift, lease, or otherwise and to improve, maintain, equip, and furnish one or more projects, including all real and personal properties which the board deems necessary in connection therewith, regardless of whether any projects are then in existence, at such place or places, within and without the boundaries of its authorizing subdivisions, as it considers necessary or advisable. (6) To lease or otherwise make available its projects or other of its properties or assets, with or without charge, to the United States or to one or more of its authorizing subdivisions, for sublease to the United States, on such terms...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-101A-8.htm - 8K - Match Info - Similar pages
22-21-318
properties and assets to such persons, firms, partnerships, associations or corporations and on such terms as the board deems to be appropriate, to charge and collect rent or other fees or charges therefor and to terminate any such lease or other agreement upon the failure of the lessee or other party thereto to comply with any of its obligations thereunder; (7) To receive, acquire, take and hold (whether by purchase, gift, transfer, foreclosure, lease, devise, option or otherwise) real and personal property of every description, or any interest therein, and to manage, improve and dispose of the same by any form of legal conveyance or transfer; provided however, that the authority shall not, without the prior approval of the governing body of each authorizing subdivision, have the power to dispose of (i) substantially all its assets, or (ii) any health care facilities the disposition of which would materially and significantly reduce or impair the level of hospital or health care...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-318.htm - 12K - Match Info - Similar pages
24-1A-5
to sell the equity of redemption, to purchase the equity of redemption and otherwise to sell and dispose of the mortgaged property, all as shall seem in the best interests of the authority and the holders of its bonds; (11) To sell and issue bonds in order to provide funds for any corporate function, use or purpose; (12) To mortgage, pledge, assign or grant security interests in any or all of its mortgage loans, mortgages and its interests created thereby in the underlying real and personal properties covered by such mortgages as security for the payment of the principal of, and interest on, any bonds issued by the authority, or as security for any agreements made in connection therewith, whether then owned or thereafter acquired, and to pledge the revenues from which said bonds are payable as security for the payment of the principal of, and interest on, said bonds and any agreements made in connection therewith; (13) To establish such reserves from the proceeds of any issue...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/24-1A-5.htm - 7K - Match Info - Similar pages
11-54A-9
prosecute and defend civil actions in any court having jurisdiction of the subject matter and of the parties. (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, whether by purchase, construction, exchange, gift, lease, or otherwise and to refinance existing indebtedness on, improve, maintain, equip, and furnish one or more projects, including all real and personal properties which the board of the authority may deem necessary in connection therewith, regardless of whether or not any such projects shall then be in existence. (6) To lease to others any or all of its projects and to charge and collect rent therefor, and to terminate any such lease upon the failure of the lessee to comply with any of the obligations thereof. (7) To sell, exchange, donate, or convey and to grant options to any lessee to acquire any of its projects and any or all of its...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54A-9.htm - 8K - Match Info - Similar pages
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