41-10-502
Section 41-10-502 Specifications and priority of bonds. Any bonds of the authority may
be executed and delivered by it at any time and from time to time, shall be in such form and
denominations and of such tenor and maturities, shall bear such rate or rates of interest,
fixed or floating, payable and evidenced in such manner, may contain provisions for redemption
prior to maturity and may contain other provisions not inconsistent with this section,
all as may be provided by the resolution of the board of directors whereunder such bonds are
authorized to be issued; provided that no bond of the authority shall have a specified maturity
date later than 20 years after its date. At its election, the authority may retain in the
resolution(s) under which any of the bonds are issued an option to redeem all or any thereof
and at such redemption price(s) and after such notice(s) and on such dates and on such terms
and conditions as may be set forth in said resolution(s) and as may be briefly...
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11-50-237
Section 11-50-237 Execution, sale, etc., of bonds and refunding bonds of corporation
generally; terms, denominations, etc., thereof; charge, application, etc., of revenues from
systems to payment of bonds, etc., generally; vesting of title to systems in municipality
and dissolution of corporation upon payment of bonds in full. (a) All bonds issued by any
corporation organized under this division shall be signed by the chairman of its board of
directors or other chief executive officer and attested by its secretary, and the seal of
such corporation shall be affixed thereto. Any interest coupons applicable to the bonds of
such corporation shall be signed by the chairman of the board of directors or other chief
executive officer, but a facsimile of such signature may be impressed on any such interest
coupon in lieu of his manually signing the same. Any such bonds may be executed and delivered
by such corporation at any time and from time to time, shall be in such form and denominations...

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41-10-312
Section 41-10-312 Specifications and priority of bonds. Any bonds of the authority may
be executed and delivered by it at any time and from time to time, shall be in such form and
denominations and of such tenor and maturities, shall bear such rate or rates of interest,
fixed or floating, payable and evidenced in such manner, may contain provisions for redemption
prior to maturity and may contain other provisions not inconsistent with this section,
all as may be provided by the resolution of the board of directors whereunder such bonds are
authorized to be issued; provided that no bond of the authority shall have a specified maturity
date later than 30 years after its date. In the event that the authority shall make more than
one pledge of the same revenues, such pledges shall, unless otherwise provided in the resolution
or resolutions authorizing the earlier issued bonds, take precedence in the order of the adoption
of the resolutions in which the pledges are made; provided, that each...
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11-15-9
Section 11-15-9 Warrants - Authority for issuance; form, terms, denominations, redemption,
etc.; sale. The corporation is authorized to issue its interest-bearing revenue warrants for
the purpose of acquiring, constructing, improving, enlarging, completing and equipping one
or more projects. All warrants issued by the corporation shall be limited obligations of the
corporation, the principal of and interest on which shall be payable solely out of the revenues
derived from the projects with respect to which they are issued. None of the warrants of the
corporation shall ever constitute an obligation or debt of the state or of the county or a
charge against the credit or taxing powers of the state or the county. Warrants of the corporation
may be issued at any time and from time to time, may be in such form and denominations, may
be of such tenor, may be payable in such installments and at such time or times not exceeding
30 years from their date, may be payable at such place or places...
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11-56-20
Section 11-56-20 Authority and procedure for dissolution of corporations; vesting of
title to properties thereof in municipalities upon dissolution; formation of corporations
not to prevent subsequent formation of other corporations by same municipalities. (a) At any
time when the corporation does not have any bonds outstanding, the board may adopt a resolution
which shall be duly entered upon its minutes declaring that the corporation shall be dissolved.
Upon the filing for record of a certified copy of said resolution in the office of the judge
of probate of the county, the corporation shall thereupon stand dissolved, and, in the event
it owned any property at the time of its dissolution, the title to all its property shall
thereupon vest in the municipality. In the event the corporation shall at any time have outstanding
bonds issued under this chapter payable out of the revenues from different projects, then
as and when the principal of and the interest on all bonds payable in...
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11-99A-14
Section 11-99A-14 Payment of assessments. (a) Each assessment shall constitute a lien
on the property assessed in the amount of the assessment with respect to that parcel of land,
as provided in the final assessment, forecloseable as provided in this chapter. The assessment
shall be payable either within 30 days after the final assessment or over such term as may
be determined by the board. If the assessment is to be paid over a term, the assessment shall
accrue interest and be payable periodically, monthly, quarterly, semiannually, annually, or
as otherwise provided by the board, with interest at a rate as may be considered reasonable
by the board. In particular, the assessment may bear interest at the same rate or yield borne
by the bonds issued to obtain funds to acquire, construct, or install the improvements, but
interest may be at a higher rate in the discretion of the board. Once the amount of a final
assessment allocated with respect to a tract is paid in full, with all...
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16-13-304
Section 16-13-304 Terms and conditions; sale; use of proceeds. (a)(1) Warrants issued
pursuant to this article may be in the denomination or denominations; shall have a maturity
or maturities not exceeding 30 years from their date; may bear interest from their date at
the rate or rates payable in the manner and at the times; may be payable at the place or places
within or without the State of Alabama; may be sold for such price and in the manner as provided
in this article; and may contain the terms not in conflict with the provisions of this article;
all as the board may provide in the proceedings pursuant to which the warrants are authorized
to be issued. (2)(i) The board may provide that the warrants shall bear interest at a rate
or rates fixed at the time of the issuance thereof. (ii) With the prior, specific approval
of the State Superintendent, given as provided in this article, the board may provide that
the warrants shall bear interest at rates which may be changed from time to...
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16-16-9
Section 16-16-9 Execution, form, terms and conditions of bonds; sale; refunding bonds;
bonds to be limited obligations; security for payment; bonds as negotiable instruments; exemption
from taxation; bonds as security for deposits and for investment of fiduciary funds. (a) The
bonds of the authority shall be signed by its president and attested by its secretary, and
the seal of the authority shall be affixed thereto, and any interest coupons applicable to
such bonds shall be signed by the president; provided, that a facsimile of the signature of
one, but not both, of the said officers may be printed or otherwise reproduced on any such
bonds in lieu of his manually signing the same, a facsimile of the seal of the authority may
be printed or otherwise reproduced on any such bonds in lieu of being manually affixed thereto
and a facsimile of the president's signature may be printed or otherwise reproduced on any
such interest coupons in lieu of his manually signing the same. (b) Any bonds...
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16-60-91
Section 16-60-91 Execution, form, terms, sale, etc., of bonds; use of proceeds; security;
bonds legal investments. The bonds of the authority shall be signed by its president and attested
by its secretary and the seal of the authority shall be affixed thereto, and any interest
coupons applicable to such bonds shall be signed by the president; provided, that a facsimile
of the signature of one, but not both, of said officers may be printed or otherwise reproduced
on any such bonds in lieu of his signing the same, a facsimile of the seal of the authority
may be printed or otherwise reproduced on any such bonds in lieu of being manually affixed
thereto and a facsimile of the president's signature may be printed or otherwise reproduced
on any such interest coupons in lieu of his signing the same. Any bonds of the authority may
be executed and delivered by it at any time and from time to time, shall be in such form and
denominations and of such tenor and maturities, shall bear such rate or...
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23-1-313
Section 23-1-313 Bonds and notes - Disposition of proceeds from sale. The authority
shall pay out of the proceeds from the sale of the obligations authorized by this article
all expenses that the board of directors may deem necessary and advantageous in connection
with the sale and issuance thereof. The proceeds from the issue of any obligations authorized
by this article, (i) except the proceeds of bonds which were issued to pay principal and interest
of temporary bonds or notes and in anticipation of which such temporary bonds or notes shall
have been issued, and (ii) except the proceeds of refunding bonds issued to refund any outstanding
obligation, remaining after paying the expenses of their sale and issuance, shall be deposited
in the State Treasury, shall be credited to the Road and Bridge Fund and shall be subject
to be withdrawn by the authority, upon the approval of the State Department of Transportation
and the Governor, but only for the purpose of paying the federal share...
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