11-89B-2
Section 11-89B-2 Form, terms, denominations, etc. of bonds; execution and delivery; interest;
sale; issuance of refunding bonds; liability on bonds; source of payment; use of proceeds;
mortgage, deed of trust, etc., containing certain agreements. All bonds issued pursuant to
the provisions of this chapter shall be signed by the chairman of the board of directors or
other governing body or other chief executive officer of such public corporation and attested
by its secretary and the seal of such public corporation shall be affixed thereto; provided,
that a facsimile of the signatures of both of the officers whose signatures will appear on
the bonds may be imprinted or otherwise reproduced thereon in lieu of being manually signed
if the proceedings in which the bonds are authorized to be issued provide for the manual authentication
of such bonds by a trustee, registrar or paying agent; provided further, that a facsimile
of the seal of such public corporation may be imprinted or otherwise...
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22-3A-18
Section 22-3A-18 Investment of proceeds from bond sale; when authorized; application of income.
Prior to the completion of all public health facilities described in Section 22-3A-19, any
portion of the principal proceeds derived from the sale of the bonds which the board of directors
may determine is not then needed for any of the purposes for which the bonds are authorized
to be issued shall, on order of the authority, be invested by the State Treasurer in permitted
investments which mature at such time or times as the authority shall direct. At any time
and from time to time on order of the authority, any such investments may be sold or otherwise
converted by the State Treasurer into cash. The income derived from any such investments shall
be applied first for the payment of the costs of providing the public health facilities described
in Section 22-3A-19 and, to the extent not needed for such purpose, such income may be disbursed
on order of the authority for any purpose for which...
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11-54-60
Section 11-54-60 Municipalities not to contribute to costs of acquisition of projects or use
municipal lands for projects. No municipality shall have the power to pay out of its general
funds or otherwise contribute any part of the costs of acquiring a project and shall not have
the power to use land already owned by the municipality or in which the municipality has an
equity for construction thereon of a project or any part thereof. The entire cost of acquiring
any project must be paid out of the proceeds from the sale of bonds issued under the authority
of this article; provided, however, that this provision shall not be construed to prevent
a municipality from accepting donations of property to be used as a part of any project or
money to be used for defraying any part of the cost of any project or from requiring any lessee
of a project to pay the cost of completing such project in the event the proceeds from the
sale of the bonds are insufficient therefor. (Acts 1973, No. 812, p....
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11-20-11
Section 11-20-11 Counties not to contribute costs of acquisition of projects or county lands
therefor. No county shall have the power to pay out of its general funds or otherwise contribute
any part of the costs of acquiring a project and shall not have the power to use land already
owned by the county or in which the county has an equity for construction thereon of a project
or any part thereof. The entire cost of acquiring any project must be paid out of the proceeds
from the sale of bonds issued under the authority of this article; provided, however, that
this provision shall not be construed to prevent a county from accepting donations of property
to be used as a part of any project or money to be used for defraying any part of the cost
of any project. (Acts 1961, Ex. Sess., No. 178, p. 2147, §9.)...
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11-54-30
Section 11-54-30 Municipalities not to contribute to costs of acquisition of projects or use
municipal lands for projects. No municipality shall have the power to pay out of its general
funds or otherwise contribute any part of the costs of acquiring a project and shall not have
the power to use land already owned by the municipality or in which the municipality has an
equity for construction thereon of a project or any part thereof. The entire cost of acquiring
any project must be paid out of the proceeds from the sale of bonds issued under the authority
of this article; provided, however, that this provision shall not be construed to prevent
a municipality from accepting donations of property to be used as a part of any project or
money to be used for defraying any part of the cost of any project. (Acts 1951, No. 756, p.
1307, §9.)...
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11-86A-16
Section 11-86A-16 Application of proceeds from the sale of bonds; source of payment; pledge
of county's or municipality's credit; negotiability; exemption from taxation; pledge as security
for funds belonging to a public person; investment in bonds by fiduciaries; no public hearing
required; investment in bonds by Teachers' Retirement System of Alabama, the Employees' Retirement
System of Alabama, and the State Insurance Fund; investment in bonds by public persons. (a)
The proceeds from the sale of any bonds shall be applied as provided in the proceedings in
which the bonds are authorized to be issued, including, without limitation, the payment of
all legal, fiscal, and recording fees and expenses incurred in connection with the authorization,
sale, and issuance of the bonds and, if provided in the proceedings authorizing their issuance,
interest on the bonds (or if only a part of any issue of bonds is issued for acquisition purposes,
interest on that portion of the bonds of that issue...
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33-13-12
Section 33-13-12 Bonds - Disposition of proceeds; investments. The authority shall pay out
of the proceeds from the sale of any of the bonds (other than refunding bonds) those expenses
which the board of directors may deem necessary or advantageous in connection with the sale
or issuance thereof. The proceeds from the sale of all bonds, other than refunding bonds,
remaining after paying the expenses of their sale and issuance shall be turned in to the treasury
of the State Docks Department, shall be carried in a special fund therein and shall be subject
to be drawn on by the State Docks Department, upon the approval of the authority, but solely
for the respective purposes for which they were authorized to be issued, viz., payment of
costs incurred in the development, construction, improvement, expansion and modernization
(or any of them) of the state docks facilities at the Port of Mobile, as the state facilities
may from time to time exist. The proceeds from the sale of any refunding...
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33-2-126
Section 33-2-126 General provisions relative to inland facilities bonds. In order to provide
funds for the purposes of this article, there are hereby authorized to be sold and issued
bonds of the state not exceeding $2,000,000.00 in aggregate principal amount, under and subject
to the provisions hereinafter set forth. The bonds shall be designated as inland facilities
bonds of the state. The bonds shall be general obligations of the state for payment of the
principal of and interest on which the full faith and credit of the state are hereby irrevocably
pledged. The bonds may be issued from time to time in one or more series, shall bear an appropriate
series designation, shall be in such form and denominations and of such tenor and maturities,
shall bear such rate or rates of interest payable in such manner, may contain provisions for
redemption prior to maturity, and may contain other provisions not inconsistent herewith,
all as shall be set forth in an order or resolution of the...
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33-2-156
Section 33-2-156 General provisions relative to inland facilities bonds. In order to provide
funds for the purposes of this article, there are hereby authorized to be sold and issued
bonds of the state not exceeding $10,000,000.00 in aggregate principal amount, under and subject
to the provisions hereinafter set forth. The bonds shall be designated as inland facilities
bonds of the state, series 1970. The bonds shall be general obligations of the state for payment
of the principal of and interest on which the full faith and credit of the state are hereby
irrevocably pledged. The bonds may be issued from time to time in one or more series, shall
bear an appropriate series designation, shall be in such form and denominations and of such
tenor and maturities, shall bear such rate of interest payable in such manner, may contain
provisions for redemption prior to maturity, and may contain other provisions not inconsistent
herewith, all as shall be set forth in an order or resolution of the...
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11-58-6
Section 11-58-6 Requirements as to leasing of medical clinics or clinical facilities; disposition
of revenue from operation of clinic. (a) Prior to the leasing of the medical clinic or clinical
facilities, the board of directors must determine and find the following: (1) The amount necessary
in each year to pay the principal of and the interest on the bonds proposed to be issued to
finance such clinic (which term, as used in this section, shall also include any clinical
facilities covered by any such lease); (2) Unless the proceedings under which the proposed
bonds are to be issued provide that any debt service reserve fund which the board of directors
deems it advisable to establish in connection with the retirement of the proposed bonds is
to be entirely funded out of the proceeds from the sale of such bonds, the amount necessary
to be paid each year into any such reserve fund; (3) The amount necessary to be paid each
year into any reserve fund which the board of directors may deem...
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