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38-10-52
Section 38-10-52 Use of funds; administrative costs. The Department of Human Resources shall
use funds deposited in the foster care trust fund to meet the following needs of children
in its custody including, but not limited to, tuition for post-secondary education, tutoring,
development of artistic or athletic abilities, graduation costs, birthday and Christmas gifts,
and, assistance with preparation for independent living. In no case shall proceeds from the
foster care trust fund be used for the cost of board or staff costs of the Department of Human
Resources. All administrative costs or any other costs to provide for the operation of the
foster care trust fund created by this article shall be paid from funds allocated to the department
of human resources. (Acts 1990, No. 90-385, p. 527, §3.)...
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41-10-504
Section 41-10-504 Bonds of authority eligible for investment of trust funds. Any trust fund,
where the investment thereof is permitted or required by law, may be invested in bonds issued
by the authority. Unless otherwise directed by the court having jurisdiction thereof or the
document which is the source of authority, a trustee, executor, administrator, guardian or
one acting in any other fiduciary capacity may, in addition to any other investment powers
conferred by law and with the exercise of reasonable business prudence, invest trust funds
in the bonds of the authority. (Acts 1990, No. 90-603, p. 1094, §15.)...
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16-38A-2
Section 16-38A-2 Alabama Head and Spinal Cord Injury Trust Fund Advisory Board - Creation;
composition. There is created the Alabama Head and Spinal Cord Injury Trust Fund Advisory
Board to be appointed as herein provided. The following agencies and organizations shall appoint
one representative to the board: (1) The Alabama Medical Association. (2) The Alabama Head
Injury Foundation. (3) The Governor. (4) The Department of Public Health. (5) The Department
of Human Resources. (6) The Division of Special Education Services of the Department of Education.
(7) The Alabama Developmental Disabilities Planning Council. (8) The Department of Mental
Health. (9) The Injury Prevention Research Center at the University of Alabama in Birmingham.
(10) The Alabama Head Injury Task Force. (11) The Alabama Hospital Association. (12) The Insurance
Commissioner of Alabama. (13) The Epilepsy Foundation of North and Central Alabama. (14) The
Alabama Medicaid Agency. (15) The Alabama Coalition of Citizens...
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26-16-9
Section 26-16-9 Child Abuse and Neglect Prevention Board - Disbursement generally. (a) The
state board may authorize the disbursement of available money from the trust fund exclusively
for the following purposes, which are listed in the order of preference for expenditure: (1)
To fund a private nonprofit or public organization in the development or operation of a program
if at least all of the following conditions are met: a. The appropriate local council has
reviewed the program. This paragraph does not apply if a local council does not exist for
the geographic area to be served by the program. b. The organization demonstrates an ability
to match, through money or in-kind services, 50 percent of the amount of any trust fund money
received. Not more than 50 percent of the local match shall be in in-kind services. In-kind
services are subject to the approval of the state board. c. The organization demonstrates
a willingness and ability to provide program models and consultation to...
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11-86A-15
Section 11-86A-15 Security for bonds. (a) In the discretion of the board of directors of an
authority, any bonds may be secured by an indenture between an authority and a trustee, which
may be a trust company or bank having trust powers, whether the trust company or bank is located
within or outside of the state. In any indenture or resolution providing for the issuance
of bonds, an authority may pledge, for payment of the principal of and the interest on such
bonds, any of its revenues to which its rights exist or may thereafter come into existence,
and may assign, as security for payment, any of its leases, franchises, permits, and contracts.
In any indenture, an authority may mortgage any properties, including any that may be thereafter
acquired by it, and may provide that in the event of a default in payment of the bonds secured
thereby or in the event of default with respect to any agreement contained therein, the mortgage
may be foreclosed either by sale at public outcry or by...
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11-92A-15
Section 11-92A-15 Security for bonds. (a) In the discretion of the board of directors of an
authority, any bonds may be secured by an indenture between an authority and a trustee, which
may be any trust company or bank having trust powers, whether such trust company or bank is
located within or without the state. In any such indenture or resolution providing for the
issuance of bonds an authority may pledge, for payment of the principal of and the interest
on such bonds, any of its revenues to which its right then exists or may thereafter come into
existence, including, but not limited to, revenues or other money or property pledged to it
by any public or private person, and may assign, as security for such payment, any of its
leases, loan agreements, franchises, permits, and contracts. In any such indenture, an authority
may mortgage any of its properties, including any that may be thereafter acquired by it, and
may provide that in the event of a default in payment of the bonds...
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14-1-14
Section 14-1-14 Corrections Revolving Fund. There is hereby created from the board's general
operating funds, for the use and benefit of the board, a fund in the amount of $40,000.00
to be known as the Corrections Revolving Fund. The purpose of said fund shall be to pay certain
expenses at the general office of the board and at the prisons and institutions under its
supervision and control. The Commissioner of Corrections or the chief accountant of the board,
upon authorization by the board, shall be the custodian of said fund and shall authorize,
approve or certify all withdrawals and expenditures from said fund. Reimbursement to this
fund shall be made by voucher by the commissioner or chief accountant, upon which the comptroller
shall issue his warrant. The commissioner shall be authorized to make such expense advances
from said fund to transfer agents and other employees as he deems proper. He shall be authorized
to set aside such amounts as he deems necessary to the various...
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19-3C-4
Section 19-3C-4 Appropriation for expenditure or accumulation of endowment fund; rules of construction.
(a) Subject to the intent of a donor expressed in the gift instrument, an institution may
appropriate for expenditure or accumulate so much of an endowment fund as the institution
determines is prudent for the uses, benefits, purposes, and duration for which the endowment
fund is established. Unless stated otherwise in the gift instrument, the assets in an endowment
fund are donor-restricted assets until appropriated for expenditure by the institution. In
making a determination to appropriate or accumulate, the institution shall act in good faith,
with the care that an ordinarily prudent person in a like position would exercise under similar
circumstances, and shall consider, if relevant, the following factors: (1) the duration and
preservation of the endowment fund; (2) the purposes of the institution and the endowment
fund; (3) general economic conditions; (4) the possible effect...
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23-2-149
Section 23-2-149 Trust agreements securing bond issues; authorized provisions protecting holders;
pledge of revenues. In the discretion of the authority, any bonds issued under the provisions
of this article may be secured by a trust agreement by and between the authority and a corporate
trustee, which may be any trust company, or bank having the powers of a trust company, within
or without the state. The trust agreement or the resolution providing for the issuance of
such bonds subject to the provisions of Section 23-2-147, may pledge or assign tolls or other
revenues to which the authority's right then exists or which may thereafter come into existence,
and the moneys derived therefrom, and the proceeds of such bonds; provided, however, that
the trust agreement or resolution shall not convey or mortgage any toll road, bridge or tunnel
project or any part thereof. Such trust agreement or resolution providing for the issuance
of bonds may contain such provisions for protecting and...
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41-15A-6
Section 41-15A-6 Definitions; duties of board. (a) As used in this chapter, the following words
shall have the following meanings, respectively: (1) BOARD. The Board of Control of the Penny
Trust Fund, which shall consist of the following officials or their designees and the following
representatives: a. The Governor. b. The State Treasurer. c. The State Health Officer. d.
The State Superintendent of Education. e. The State Auditor. f. A member to be appointed by
the Governor from one of Alabama's historically black colleges and universities, whose term
on the board shall end when the appointing Governor's term ends. g. A member to be appointed
by the Governor from a non-profit health-related agency, organization, or health-related community
action agency, whose term on the board shall end when the appointing Governor's term ends.
(2) EARNINGS. Ninety percent of the prior fiscal year's earnings of the Penny Trust Fund.
(b) The duties of the board shall include, but not necessarily be...
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