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33-2-182
Section 33-2-182 Authorization to issue refunding bonds. Subject to the provisions contained
in this article, the department may from time to time sell and issue its refunding bonds for
the purpose of refunding any or all of the outstanding bonds then outstanding, together with
any interest thereon whether due and unpaid at the time of issuance of such refunding bonds
or not, and with any premium that may be necessary to be paid in order to redeem or retire
those outstanding bonds proposed to be refunded. In the discretion of the department, with
the approval of the Governor, refunding bonds may be issued in exchange for outstanding bonds
or they may be sold and the proceeds thereof applied to the purchase, redemption or payment
of outstanding bonds. Refunding bonds to be issued in exchange for outstanding bonds may be
issued in such principal amount as the department shall determine. Refunding bonds to be sold
may be issued in such principal amount as shall be determined by the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-2-182.htm - 2K - Match Info - Similar pages
33-2-9
Section 33-2-9 Application of proceeds of facilities; payment of deficiency where proceeds
are insufficient to cover expenses. The proceeds of the handling and operation of improvements
and facilities constructed pursuant to this article shall be applied as follows: All expenses
of carrying out the purposes of this article shall be paid from said proceeds. Not less than
30 days before each semiannual date upon which interest matures on the bonds hereby authorized,
or any installment of principal matures, the Secretary-Treasurer of the State Docks Department
shall pay to the state treasury from receipts of facilities constructed pursuant to this article
an amount sufficient to cover such installment of interest or principal, and therefrom the
State Treasurer shall pay such interest or principal. If the receipts of the State Docks Department
from facilities constructed pursuant to this article are insufficient to cover any expenses
herein provided for or any installment of interest or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-2-9.htm - 2K - Match Info - Similar pages
14-2-21
Section 14-2-21 Bonds - Security. The principal of, premium, if any, and interest on the bonds
of the authority shall be secured by any or all of the following, as the authority may determine:
(1) The rent and revenue for the use of one or more facilities of the authority; (2) The net
rent or sale proceeds from the Kilby property; (3) Any bond proceeds remaining unexpended
upon completion of all facilities to be constructed with such bond proceeds and the payment
of the cost thereof; (4) Any insurance proceeds which the authority may receive by reason
of its ownership of any of the facilities; and (5) Any mortgage upon or security interest
in one or more facilities of the authority, granted in connection with the issuance of such
bonds. The authority shall have authority to transfer and assign any lease of any of the facilities
and any lease or mortgage of the Kilby property as security for the payment of such principal,
premium, if any, and interest. The bonds may be issued under, and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/14-2-21.htm - 2K - Match Info - Similar pages
16-18A-7
Section 16-18A-7 Revenue bonds - Creation of statutory mortgage lien; recording. Any resolution
of the authority or trust indenture under which bonds may be issued pursuant to the provisions
of this chapter may contain provisions creating a statutory mortgage lien in favor of the
holders of such bonds and of the interest coupons applicable thereto on the property and facilities,
or any part thereof (including any after-acquired property) out of the revenues from which
such bonds are made payable. The said resolution of the authority of the said trust indenture
may provide for the filing of record in the office of the judge of probate of each county
in which any property and facilities, or any part thereof, may be located of a notice containing
a brief description of such bonds and a declaration that said statutory mortgage lien has
been created for the benefit of the holders of such bonds and the interest coupons applicable
thereto upon such property and facilities, or any thereof,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-18A-7.htm - 1K - Match Info - Similar pages
16-65-8
Section 16-65-8 Dedicated source of revenue as security for the repayment of equipment loans.
In order to provide for the funding of an equipment loan by the authority to an educational
institution, such educational institution shall establish a dedicated source of revenue to
secure the repayment of moneys received from the authority. Such educational institution is
hereby authorized and empowered, any existing statute to the contrary notwithstanding, to
do and perform any one or more of the following: (1) To obligate itself to pay to the authority
at periodic intervals a sum sufficient to provide for the payment of debt service with respect
to the bonds of the authority issued to fund the equipment loan made to such educational institution
and to pay over such debt service to the authority for the account of such educational institution.
(2) To levy, collect, and pay over to the authority and to obligate itself to continue to
levy, collect, and pay over to the authority the proceeds...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-65-8.htm - 2K - Match Info - Similar pages
23-1-175.1
Section 23-1-175.1 Infrastructure improvements. (a) In order to accomplish infrastructure improvements
contemplated for the benefit of the Alabama State Docks, the Alabama Highway Finance Corporation
shall have the following powers, in addition to all powers set forth in this article. (1)
To borrow money and issue its bonds in evidence thereof, in a principal amount not to exceed
one hundred fifty million dollars ($150,000,000), for the purpose of financing the widening
and deepening of the Mobile Ship Channel and improvements related thereto. No bond issued
by the corporation for this purpose shall have a specified maturity date later than twenty
years after its issuance date. (2) To issue from time to time one or more series of refunding
bonds for the purpose of refunding any bonds issued pursuant to subdivision (1) or bonds previously
issued to refund such bonds, in any case, however, having a final maturity that is not later
than the final maturity of the bonds being refunded. (3)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-1-175.1.htm - 3K - Match Info - Similar pages
23-1-307
Section 23-1-307 Bonds and notes - Authorization for issuance. The authority shall have the
power and is hereby authorized and empowered to sell and issue its bonds in order to provide
as soon as practicable the federal share of the cost of constructing federal aid projects
in anticipation of the receipt by the state of such federal portions as they become available
either during, upon or after completion of such construction. The authority shall have the
power, in addition to any other powers granted in this article, to borrow money for temporary
use for any of the purposes for which it is authorized by this article to issue bonds and,
in evidence of such borrowing, to issue from time to time temporary bonds or notes. Any such
temporary borrowing may be made in anticipation of the sale and issuance of bonds and in such
event the principal proceeds from the sale of such bonds shall, to the extent necessary, be
used for payment of the principal of and interest on the temporary bonds or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-1-307.htm - 1K - Match Info - Similar pages
41-10-469
Section 41-10-469 Use of proceeds of refunding bonds. The proceeds of refunding bonds shall
be applied, together with any other moneys legally available therefor, to the payment of the
expenses authorized by this article and to the payment of the principal of, premium, if any,
and interest due and to become due on any outstanding bonds to be refunded thereby and, if
so required by resolution of the authority, shall be deposited in the State Treasury in an
interest account to pay interest on refunding bonds, and in the State Treasury in a reserve
account to further secure the payment of the principal of, premium, if any, and interest on
any refunding bonds. The expenses authorized by this article shall include, in addition to
expenses authorized by other sections hereof, all expenses that the board of directors may
deem necessary or advantageous in connection with the sale and issuance of such refunding
bonds, including without limitation, the expenses of selling and issuing such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-469.htm - 7K - Match Info - Similar pages
41-10-759
Section 41-10-759 Pledge and appropriation of BP settlement revenue to pay bonds. There is
hereby irrevocably pledged and appropriated such amounts of the BP settlement revenues retained
in the special fund, and earnings thereon, as shall be necessary to pay the principal, interest,
and premium, if any, on the authority's bonds, to redeem such bonds prior to maturity if called
for redemption by the authority, and to pay the principal of, the interest, and premium, if
any, on any refunding bonds issued to refund such bonds. (Act 2016-469, 1st Sp Sess., ยง10.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-759.htm - 872 bytes - Match Info - Similar pages
45-46-90.07
Section 45-46-90.07 Charges for use of authority facilities. Docking fees, toll fees, rents,
and other charges for the use of the port, docks, and related facilities owned or operated
by the authority shall be so fixed and from time to time revised as at all times to provide
funds at least sufficient to do all of the following: (1) Pay the cost of operating, maintaining,
repairing, replacing, extending, and improving such facilities. (2) Pay the principal of and
the interest on all bonds issued and obligations assumed by the authority, that are payable
out of the revenues derived from operation of such facilities as the principal and interest
become due and payable. (3) Create and maintain such reserve for the foregoing purposes or
any of them as may be provided in any mortgage and deed of trust or trust indenture executed
by the authority hereunder or in any resolutions of the board authorizing the issuance of
bonds, the assumption of any obligation, or the acquisition of any such...
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