11-62-8
Section 11-62-8 Bonds and notes generally - Form, terms, denominations, etc.; execution, sale,
delivery, redemption, etc.; security for payment of principal or interest; remedies upon default;
liability of municipalities, board, etc., thereupon. (a) Any authority shall have power to
issue from time to time its bonds and notes in such principal amount as its board shall determine
to be necessary to provide sufficient funds for achieving any of its corporate purposes, including
the payment of interest on any of its notes and bonds, the establishment of reserves to secure
any such notes and bonds and all other expenditures of such authority incident to and necessary
or convenient to carry out its corporate purposes and powers. Any authority shall also have
the power to issue from time to time notes to renew notes and bonds to pay notes, including
interest thereon and, whenever it deems refunding expedient, to refund any bonds by the issuance
of new bonds, whether the bonds to be refunded...
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11-94-15
Section 11-94-15 Liability of authorizing subdivisions upon bonds, obligations and agreements
of authority; other actions by authorizing subdivisions to attain objectives of chapter. (a)
Neither of the authorizing subdivisions of an authority shall in any event be liable for the
payment of the principal of, interest and premium, if any, on any bonds of an authority or
for the performance of any pledge, assignment, indenture, obligation or agreement of any kind
whatsoever which may be undertaken by an authority and none of the bonds of an authority or
any of its agreements or obligations shall be construed to constitute an indebtedness of any
authorizing subdivision within the meaning of any constitutional or statutory provision whatsoever.
(b) For the purpose of attaining the objectives of this chapter, either of the authorizing
subdivisions, any other county or municipality of the state, and any other political subdivision,
public corporation, agency or instrumentality of the state or...
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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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24-1-33
Section 24-1-33 Powers of authority to secure payment of bonds, etc. In connection with the
issuance of bonds or the incurring of any obligation under a lease and in order to secure
the payment of such bonds or obligations, the authority shall have power: (1) To pledge by
resolution, trust indenture, mortgage, subject to the limitations hereinafter imposed, or
other contract all or any part of its rents, fees or revenues. (2) To covenant against mortgaging
all or any part of its property, real or personal, then owned or thereafter acquired, or against
permitting or suffering any lien thereon. (3) To covenant with respect to limitations on its
right to sell, lease or otherwise dispose of any housing project, or any part thereof, or
with respect to limitations on its right to undertake additional housing projects. (4) To
covenant against pledging all or any part of its rents, fees and revenues to which its right
then exists, or the right to which may thereafter come into existence, or...
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24-1-72
Section 24-1-72 Powers of authority to secure payment of bonds, etc. In connection with the
issuance of bonds or the incurring of any obligation under a lease and in order to secure
the payment of such bonds or obligations, the authority shall have power: (1) To pledge by
resolution, trust indenture, mortgage, subject to the limitations hereinafter imposed, or
other contract all or any part of its rents, fees, or revenues. (2) To covenant against mortgaging
all or any part of its property, real or personal, then owned or thereafter acquired, or against
permitting or suffering any lien thereon. (3) To covenant with respect to limitations on its
right to sell, lease, or otherwise dispose of any housing project, or any part thereof, or
with respect to limitations on its right to undertake additional housing projects. (4) To
covenant against pledging all or any part of its rents, fees, and revenues to which its right
then exists, or the right to which may thereafter come into existence, or...
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33-2-10
Section 33-2-10 Cost of each unit to be ascertained, etc.; sinking fund. Immediately upon the
completion of each unit of development along its inland waterway system acquired or erected
pursuant to this article, the director of the Alabama State Docks Department shall ascertain
the cost of such unit, which cost shall be entered in the accounts kept by the State Docks
Department as a charge against capital account for that unit. After the first 12 months from
the completion of each unit pursuant to this article, one half of one percent of the cost
thereof, not exceeding one half of the gross income thereof during each month, shall at the
end of the month be credited to an account designated "sinking fund" and shall be
used from time to time only for the purpose of paying interest charges and of retiring, by
repurchase, bonds issued pursuant to this article at not more than par or by paying them off
as the same mature, until all bonds issued pursuant to this article shall have been...
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9-9-38
Section 9-9-38 Bonds - Sale; disposition of proceeds, etc. The board of water management commissioners
may sell the bonds for cash at not less than 95 percent of the par value plus accrued interest
and devote the proceeds to the payment of the work as it progresses and to the payment of
other expenses of the district provided for in this article and for no other purpose or purposes.
The funds of the district derived from the sale of bonds, collection of taxes or any other
source shall be placed in any such depositories as may be designated by the board of water
management commissioners, and the depositories shall pay into the treasury of the district
such rate of interest as may be mutually agreed upon between the depository and the board
of water management commissioners; provided, that the rate of interest shall not be less than
two percent per annum and that the funds shall be subject to withdrawal at any time by the
commissioners for the payment of the obligations of the district....
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11-89A-23
Section 11-89A-23 Notice of bond resolution; contest to validity of bonds, etc. Upon the adoption
by the board of any authority of any resolution providing for the issuance of bonds, such
authority may, in the discretion of its board, cause a notice respecting the issuance of such
bonds to be published once a week for two consecutive weeks in each county in which shall
be located any facility financed or in any way assisted by the issuance of such bonds, such
publication in each such county to be in a newspaper having general circulation therein. Such
notice shall be in substantially the following form (the blanks being properly filled in)
at the end of which shall be printed the name and title of either the chairman or secretary
of such authority: "_____, a public corporation and instrumentality of the State of Alabama,
on the _____ day of _____, authorized the issuance of $_____ principal amount of bonds (or
notes, as the case may be) of the said public corporation for purposes...
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11-99A-15
Section 11-99A-15 Issuance of bonds by districts; terms and assessments. (a) A district may
borrow money by the issuance of bonds, which bonds shall be revenue obligations, payable exclusively
out of assessments levied on land within the district, and the bonds shall not be supported
by the full faith and credit of the appointing government. However, the bonds may be secured
by additional revenues, guarantees, pledges, letters of credit, or other credit enhancements
as may be provided by the district, the owner of any property within the district, or any
other person, to the extent provided in the proceedings of the board with respect to the issuance
of the bonds. (b) Bonds of a district shall be signed by its chair and attested by its secretary,
the seal of the district may be affixed thereto, and any interest coupons applicable to the
bonds shall be signed by the chair; provided that: (1) a facsimile of the signature of the
officers may be printed or otherwise reproduced on any bonds...
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12-12-1
Section 12-12-1 Establishment, designation, etc.; location of sessions of district courts;
abolition of courts not authorized by Constitution. (a) The district court of Alabama, a trial
court of limited jurisdiction, is created and established, effective January 16, 1977, and
shall be subdivided according to districts and styled the district court of the county. Persons
elected or appointed to a district court judgeship must have been admitted to practice law
in this state a combined total of four years or more, or admitted to practice law by any other
state for a combined total of four years or more, prior to beginning a term of office or appointment
to serve a vacant term of office. In addition, the person must not have received from any
state or state bar association a suspension or disbarment within the 10 years preceding election
or appointment. (b) Sessions of the district court shall be held in each county seat, each
municipality containing a population of 1,000 or more where no...
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