11-92A-12
Section 11-92A-12 Powers of authority. An authority shall have the following powers, which it may exercise in any county within such authority's authorized operational area: (1) To have succession by its corporate name until dissolved as provided in this chapter; (2) To institute and defend legal proceedings in any court of competent jurisdiction and proper venue; provided, however, that an authority may not be sued in any trial court other than the courts of a county within the authorized operational area of the authority; provided, further, that the officers, directors, agents, and employees of an authority may not be sued for their actions in behalf of the authority except for actions that are known by such person to be unlawful or are performed with reckless disregard for the lawfulness of such actions; (3) To have and to use a corporate seal and to alter the seal at its pleasure; (4) To establish a fiscal year; (5) To anticipate by the issuance of its bonds the receipt of any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-92A-12.htm - 6K - Match Info - Similar pages
14-2-29
Section 14-2-29 Facilities - Leasing - State or agency thereof. (a) The authority is hereby authorized to enter into a lease or leases of any one or more facilities constructed, acquired, reconstructed, renovated or improved by the authority under the provisions of this chapter to and with the department and any other agency, board, commission, bureau or department of the state which may be charged with the responsibility for the operation of any of the penal or correctional institutions of the state. The department and any such other agency, board, commission, bureau or department of the state and each of them are hereby authorized to lease any such facilities from the authority. No such lease shall, however, be for a term longer than the then current fiscal year of the state, but any such lease may contain a grant to the state or its agency of successive options of renewing said lease on the terms specified therein for any subsequent fiscal year or years of the state; provided, that...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/14-2-29.htm - 3K - Match Info - Similar pages
23-2-144
Section 23-2-144 Powers of the authority. (a) The authority shall have the following powers: (1) To adopt bylaws for the regulation of its affairs and the conduct of its business. (2) To adopt an official seal and alter the same at pleasure. (3) To maintain a principal office and branch offices at the place or places within the state as it may designate. (4) To sue and be sued in its own name, including suits in tort. (5) With the consent and approval of the department, to acquire and construct toll road, bridge, or tunnel projects at locations as the authority may determine to be desirable, practicable, and economically feasible and to maintain, repair, and operate the projects. (6) To issue toll road, bridge, or tunnel revenue bonds of the authority for any of its corporate purposes, payable solely from its tolls, other revenues, and proceeds of the bonds, and to refund its bonds, all as provided in this article. No bonds issued under the provisions of this article shall constitute a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-2-144.htm - 9K - Match Info - Similar pages
33-15-8
Section 33-15-8 Bonds and other obligations - Generally. All bonds issued by the authority shall be signed by the chairman of its board of directors and attested by its secretary-treasurer, and the seal of the authority shall be affixed thereto, and any interest coupons applicable to the bonds of the authority shall be signed by the said chairman; 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 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 signature of the chairman of its board of directors may be printed or otherwise reproduced on any such interest coupons in lieu of his manually signing the same. Any such bonds may be executed and delivered by the authority at any time and from time to time, shall be in such form and denominations and of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-15-8.htm - 4K - Match Info - Similar pages
41-10-318
Section 41-10-318 Security for bonds. 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 revenues from the lease or use of one or more facilities of the authority; (2) The proceeds from any sale of any facilities of the authority; (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 or mortgage of any of its facilities as security for the payment of such principal, premium, if any, and interest. The bonds may be issued under, and secured by,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-318.htm - 2K - Match Info - Similar pages
41-10-324
Section 41-10-324 Leasing to commission and other agencies. (a) The authority is hereby authorized to enter into a lease or leases of any one or more facilities constructed, acquired, reconstructed, renovated or improved by the authority under the provisions of this article, to and with the commission or any other agency of the state which may be charged with the responsibility for the operation of the commission's facilities. The commission and any such other agency of the state and each of them are hereby authorized to lease any such facilities from the authority. No such lease shall, however, be for a term longer than the then current fiscal year of the state, but any such lease may contain a grant to the commission or any state agency of successive options of renewing said lease on the terms specified therein for any subsequent fiscal year or years of the state; provided, that liability for the payment of rent shall never be for a term longer than one fiscal year. (b) Rent payments...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-324.htm - 3K - Match Info - Similar pages
41-10-462
Section 41-10-462 Bonds of authority. 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, payable and evidenced in such manner, may contain provisions for redemption prior to maturity, and may contain other provisions not inconsistent herewith, 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. Each bond of the authority having a specified maturity date more than 10 years after its date shall be made subject to redemption at the option of the authority at the end of the 10th year after its date, and on any interest payment date thereafter, under such terms and conditions and at such premiums, if any, as may be provided in the resolution under which...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-462.htm - 2K - Match Info - Similar pages
41-10-508
Section 41-10-508 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 revenues from the lease or use of one or more facilities of the authority; (2) The proceeds from any sale of any facilities of the authority; (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 or mortgage of any of its facilities as security for the payment of such principal, premium, if any, and interest. The bonds may be issued under, and secured by, a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-508.htm - 2K - Match Info - Similar pages
45-46-90.08
Section 45-46-90.08 Bonds of the authority. (a) All bonds issued by the authority shall be signed by the chair of its board, or other chief executive officer, and attested by its secretary, and the seal of the authority shall be affixed thereto, and any interest coupons applicable to the bonds of the authority shall be signed by the chair of its board, or other chief executive officer; provided, that a facsimile of the signature of one, but not both, of the officers may be printed or otherwise reproduced on any such bonds in lieu of his or her 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 signature of the chair of its board, or other chief executive officer, may be printed or otherwise reproduced on any such interest coupons in lieu of his or her manually signing the same. (b) Any such bonds may be executed and delivered by the authority at...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-46-90.08.htm - 5K - Match Info - Similar pages
9-6-9
Section 9-6-9 Bonds - Issuance; form, terms, denominations, etc.; sale; security for payment generally. All bonds issued by the authority shall be signed by the chairman of its board or other chief executive officer and attested by its secretary, and the seal of the authority shall be affixed thereto and any interest coupons applicable to the bonds of the authority shall be signed by the chairman of its board or other chief executive officer; provided, that a facsimile signature of one, but not both, of said officers may be printed or otherwise reproduced on any such bonds in lieu of his manually signing the same, and a facsimile of the signature of the chairman of the board or other chief executive officer may be printed or otherwise reproduced on any such interest coupons in lieu of his manually signing the same. Any such bonds may be executed and delivered by the authority at any time and from time to time, shall be in such form and denominations and of such tenor and maturities,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-6-9.htm - 4K - Match Info - Similar pages
|