33-2-100
Section 33-2-100 Appropriation for payment of principal and interest on bonds. There is hereby
appropriated for the payment of the principal of and interest on any bonds issued hereunder,
under the 1957 Docks Act, or under the 1959 Docks Act or the 1961 Docks Act, so much as may
be necessary for that purpose of any moneys in the general fund of the state not otherwise
appropriated. (Acts 1963, No. 192, p. 573, §11.)...
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33-2-186
Section 33-2-186 Docks facilities revenue bonds and refunding bonds - Nature of; pledge; negotiable
instruments. The docks facilities revenue bonds and refunding bonds shall not be general obligations
of the department but shall be payable solely out of docks facilities revenues. As security
for the payment of the principal of, premium, if any, and interest on the docks facilities
revenue bonds and refunding bonds issued by it under this article, the department is hereby
authorized and empowered to pledge for payment of the said principal, premium, if any, and
interest all or any part of the docks facilities revenues. All contracts made and all docks
facilities revenue bonds and refunding bonds issued by the department pursuant to the provisions
of this article shall be solely and exclusively obligations of the department and shall not
be an obligation or debt of the state. The docks facilities revenue bonds and refunding bonds,
except while registered, shall be construed to be...
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33-2-70
Section 33-2-70 Appropriation for payment of principal and interest on bonds. There is hereby
appropriated for the payment of the principal of and interest on any bonds issued hereunder,
under the 1957 Docks Act or under the 1959 Docks Act so much as may be necessary for that
purpose of any moneys in the general fund of the state not otherwise appropriated. (Acts 1961,
No. 716, p. 1014, §11.)...
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11-54-90
Section 11-54-90 Bonds - Security for payment of principal and interest; remedies upon default.
The principal of and interest on any bonds issued by the industrial development board shall
be secured by a pledge of the revenues and receipts out of which the same shall be made payable
and may be secured by a mortgage or deed of trust covering all or any part of the projects
from which the revenues or receipts so pledged may be derived, including any enlargements
of and additions to any such projects thereafter made. The resolution under which the bonds
are authorized to be issued and any such mortgage or deed of trust may contain any agreements
and provisions respecting the maintenance of the projects covered thereby, the fixing and
collection of rents for any portions thereof leased by the board to others, the creation and
maintenance of special funds from such revenues and the rights and remedies available in the
event of default as the board of directors shall deem advisable not in...
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33-2-190
Section 33-2-190 Docks facilities revenue bonds and refunding bonds - Defeasance. Any docks
facilities revenue bond or refunding bond issued pursuant to the provisions of this article
shall no longer be deemed to be outstanding, shall no longer be secured by the docks facilities
revenues that may have been pledged therefor, shall no longer constitute a limited obligation
of the department, and shall be secured solely by and payable solely from moneys and government
securities deposited in trust with one or more trustees or escrow agents as provided herein,
whenever there shall be deposited in trust with one or more trustees or escrow agents, as
provided herein, either moneys or government securities the principal of and interest on which
when due will provide moneys which, together with the moneys, if any, deposited with one or
more trustees or escrow agents, at the same time, shall be sufficient to pay when due the
principal of, premium, if any, and interest due and to become due on...
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11-81-180
Section 11-81-180 Appointment of receiver upon default in payment of principal and interest
on bonds; powers of receiver. If there shall be any default in the payment of the principal
of or interest upon any bonds issued under this article, any court having jurisdiction in
any proper civil action may appoint a receiver to administer and operate the system or systems
out of the revenues from which such bonds are payable with power to fix and charge rates and
collect revenues sufficient to provide for the payment of such bonds and any other obligations
outstanding against said system or systems or the revenues therefrom and for the payment of
the expenses of operating and maintaining such system or systems and with power to apply the
income and revenues of said system or systems in conformity with this article and the authorizing
proceedings and any trust indenture provided for therein. (Acts 1933, Ex. Sess., No. 102,
p. 88; Code 1940, T. 37, §315; Acts 1955, No. 494, p. 1127, §7.)...
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11-56-15
Section 11-56-15 Bonds - Remedies upon default in payment of principal or interest on bonds.
If there shall be any default in the payment of the principal of or interest on any bonds
issued under this chapter, then the holder of any of the bonds and of any of the interest
coupons applicable thereto and the trustee under any indenture, or any one or more of them,
may by civil action, mandamus or other proceeding compel performance of all duties of the
officers and directors of the corporation with respect to the use of funds for the payment
of the bonds and for the performance of the agreements of the corporation contained in the
proceedings under which they were issued and compel performance of the duties of all officials
of each local subdivision and public corporation which is a lessee under any lease pledged
as security for the bonds so in default with respect to payment of the rentals provided to
be paid under any such lease and, regardless of the sufficiency of the security for...
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33-1-42
Section 33-1-42 Outstanding bonds. It is the intention of the Legislature in enacting Act 2000-598
to preserve inviolate all pledges heretofore made of any portion of the revenues of the Alabama
State Docks Department, now known as the port authority, for the benefit of its outstanding
bonds. It is further the intention of the Legislature that the port authority shall assume
in full and without limitation the due and punctual payment of the principal and interest
on the Alabama State Docks Department's outstanding bonds according to their tenor and due
and punctual performance and observance of all agreements and conditions of orders heretofore
issued by the Alabama State Docks with respect thereto. (Act 2000-598, p. 1199, §7.)...
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33-2-18
Section 33-2-18 Article cumulative; legislative intent. Nothing in this article shall be construed
to alter, amend or repeal any act or part of any act now in force in this state or hereafter
in force which is not in direct conflict with this article. The Legislature declares that
it is the legislative intent that this article shall supplement, complement and enlarge upon
all acts in this state covering or affecting the Alabama State Docks Department and that the
Legislature intends by this article to authorize and provide for the further development of
inland navigable waterways of this state, in aid of commerce and trade and under the supervision,
control and direction of the state at all times acting through its State Docks Department.
(Acts 1957, No. 311, p. 408, §19.)...
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41-10-102
Section 41-10-102 Remedies upon default on bonds, etc. (a) Remedies upon default on bonds or
indenture. If there shall be any default in the payment of the principal of or interest on
any of the bonds issued under this article, or in the performance of any provisions of the
indenture or proceedings authorizing the issuance of such bonds, then the holder of any of
the bonds and the interest coupons applicable thereto and the trustee under such indenture
or any one or more of them shall have and may exercise any one or more of the following remedies:
(1) They may by civil action, mandamus, injunction or other proceeding compel the performance
of all duties of the officers and directors of the corporation with respect to the use of
funds for the payment of the bonds and for the performance of the bonds and the agreements
of the corporation contained in the bonds, the indenture or in the proceedings under which
they were issued; (2) They may institute a civil action and shall be entitled...
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