14-2-17
Section 14-2-17 Bonds - Investment of surplus in state fund, etc., and trust funds. Any surplus
in any state fund and any retirements or 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 1965,
No. 678, p. 1226, §19.)...
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4-3-20
Section 4-3-20 Investment of county, municipal, etc., funds in bonds. The governing body of
any county, city or town within this state is authorized, in its discretion, to invest in
bonds of the authority any idle or surplus money held in its treasury. (Acts 1963, No. 265,
p. 696, §17.)...
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41-10-61
Section 41-10-61 Exemption from taxation of bonds, properties, income, etc., of authority;
use of bonds as security for deposits of state funds; investment of trust funds in bonds.
(a) The properties of the authority and the income therefrom and all lease agreements made
by the authority and income therefrom shall be forever exempt from any and all taxation in
the State of Alabama. The bonds of the authority and the income therefrom shall be forever
exempt from any and all taxation in the State of Alabama. (b) Any of the bonds may be used
by the holder thereof as security for the deposit of any funds belonging to the state or to
any instrumentality or agency of the state in any instance where security for such deposits
may be required by law. (c) Unless otherwise directed by the court having jurisdiction thereof
or by the document that is the source of authority, a trustee, executor, administrator, guardian
or one acting in any other fiduciary capacity may, in addition to any other...
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41-9-963
Section 41-9-963 Bonds and obligations solely and exclusively commission's; resolution recital.
(a) All obligations incurred by the commission and all bonds issued by it shall be solely
and exclusively an obligation of the commission and shall not create an obligation or debt
of the State of Alabama or any county or municipality. (b) All bonds issued by the commission,
while not registered, shall be construed to be negotiable instruments even though they are
payable from a limited source. All coupons applicable to any bonds issued by the commission,
while the applicable bonds are not registered as to both principal and interest, shall likewise
be construed to be negotiable instruments although payable from a limited source. Bonds shall
constitute legal investments for savings banks and insurance companies organized under the
laws of the state; and, unless otherwise directed by the court having jurisdiction or the
document that is the source of authority, a trustee, executor,...
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11-20-5
Section 11-20-5 Bonds - Form, terms, denominations, etc.; execution, sale, delivery, redemption,
etc.; applicability of usury, etc., laws. All bonds issued by a county under authority of
this article shall be limited obligations of the county, the principal of and interest on
which shall be payable solely out of the revenues derived from the leasing of the project
to finance which the bonds are issued. Bonds and interest coupons issued under authority of
this article shall never constitute an indebtedness of the county within the meaning of any
state constitutional provision or statutory limitation and shall never constitute nor give
rise to a pecuniary liability of the county or a charge against its general credit or taxing
powers, and such fact shall be plainly stated on the face of each such bond. Such bonds may
be executed and delivered at any time and from time to time, may be in such form and denominations,
may be of such tenor, may be in registered or bearer form either as to...
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11-54-24
Section 11-54-24 Bonds - Form, terms, denominations, etc.; execution, sale, delivery, redemption,
etc. All bonds issued by a municipality under authority of this article shall be limited obligations
of the municipality, the principal of and interest on which shall be payable solely out of
the revenues derived from the leasing of the project to finance which the bonds are issued.
Bonds and interest coupons issued under authority of this article shall never constitute an
indebtedness of the municipality within the meaning of any state constitutional provision
or statutory limitation and shall never constitute nor give rise to a pecuniary liability
of the municipality or a charge against its general credit or taxing powers, and such fact
shall be plainly stated in the face of each such bond. Such bonds may be executed and delivered
at any time and from time to time, may be in such form and denominations, may be of such tenor,
may be in registered or bearer form either as to principal or...
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11-54-54
Section 11-54-54 Bonds - Form, terms, denominations, etc.; execution, sale, delivery, redemption,
etc. All bonds issued by a municipality under authority of this article shall be limited obligations
of the municipality, the principal of and interest on which shall be payable solely out of
the revenues derived from the leasing of the project to finance which the bonds are issued.
Bonds and interest coupons issued under the authority of this article shall never constitute
an indebtedness of the municipality within the meaning of any state constitutional provision
or statutory limitation and shall never constitute nor give rise to a pecuniary liability
of the municipality or a charge against its general credit or taxing powers, and such fact
shall be plainly stated in the face of each such bond. Such bonds may be executed and delivered
at any time and from time to time, may be in such form and denominations, may be of such tenor,
may be in registered or bearer form either as to principal...
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11-55-3
Section 11-55-3 Bonds - Form, terms, denominations, etc.; execution, sale, delivery, redemption,
etc. All bonds issued by a municipality under authority of this chapter shall be limited obligations
of the municipality, the principal of and interest on which shall be payable solely out of
the revenues derived from the leasing of the project to finance which the bonds are issued.
Bonds and interest coupons issued under authority of this chapter shall never constitute an
indebtedness of the municipality within the meaning of any state constitutional provisions
or statutory limitation and shall never constitute nor give rise to a pecuniary liability
of the municipality or a charge against its general credit or taxing powers, and such fact
shall be plainly stated in the face of each such bond. Such bonds may be executed and delivered
at any time and from time to time, may be in such form and denominations, may be of such tenor,
may be in registered or bearer form either as to principal or...
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12-17-220
Section 12-17-220 Powers of district attorneys as to employment, compensation, etc., of assistants,
investigators, etc., to serve at district attorney's pleasure; such employees not covered
by State Merit System Act; supplementation of state expenditures, etc., by counties. (a) The
district attorney of each judicial circuit is hereby authorized to employ, in any manner as
he or she shall determine necessary, assistant district attorneys, investigators, clerical,
secretarial, and other personnel, who shall be paid from funds available for that purpose.
Unless otherwise provided by local law for Talladega County, all of these employees shall
serve at the pleasure of the district attorney and shall not be considered employees under
the State Merit System Act. (b) The district attorney is authorized to supplement the salaries
of personnel employed within his or her office. (c) The district attorney is authorized to
use funds available to him or her from all sources such as grants,...
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16-13-196
Section 16-13-196 School tax district - Consolidation - Effect. Thereupon the county commission
shall call an election in like manner as already prescribed for calling an election in a school
tax district in the special districts or district and adjacent territory proposed to be consolidated,
and if a majority of the qualified electors voting in the combined territories of the districts
or district and adjacent territory proposed to be consolidated shall vote favorably, the districts
or district and adjacent territory shall be consolidated into a new special school tax district,
and the tax as voted shall be levied and collected in the new district as a unit, but the
creation of a new district shall not operate to relieve the county board of education of liability
for the just obligations made prior to such consolidation. In the event a majority of the
qualified electors voting in the combined territories of the districts or district and adjacent
territory proposed to be consolidated...
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