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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-89B-2.htm - 6K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54-90.htm - 2K - Match Info - Similar pages
11-59-10
Section 11-59-10 Bonds - Security for payment of principal and interest; remedies upon default. The principal of and interest on any bonds issued by the corporation shall be secured by a pledge of the revenues 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 facilities from which the revenues so pledged may be derived, including all supplies, equipment and easement in connection with such facilities and any enlargements of and additions to any thereof thereafter made. Any such mortgage or deed of trust and the resolution under which the bonds are authorized to be issued may contain any agreements and provisions respecting the management, operation and maintenance of the facilities covered thereby, the fixing and collection of rents, fees and charges for any portions thereof leased by the corporation or used by the public or any services rendered respecting the same, the creation and maintenance of special...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-59-10.htm - 3K - Match Info - Similar pages
11-60-11
Section 11-60-11 Bonds - Security for payment of principal or interest; remedies upon default. The principal of and interest on any bonds issued by the corporation 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 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 fees, rates, tolls and charges for the services, facilities and accommodations furnished by the corporation and of the rents for any portions thereof leased by the corporation to others, the creation and maintenance of special funds from such revenues and the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-60-11.htm - 2K - Match Info - Similar pages
35-10-15
Section 35-10-15 Successive sales under power permitted. The sale of any part of the property conveyed by mortgage, deed of trust, or other instruments intended to secure the payment of money, either under a power of sale contained in a mortgage, or by a judicial foreclosure, shall operate as a foreclosure of the mortgage only as to the property sold, and if the mortgage indebtedness is not thereby satisfied in full, the other property contained in the mortgage continues as security for the mortgage debt and there may be a further foreclosure of the mortgage, either by sale under power of sale or by foreclosure. Every power of sale contained in mortgages unless otherwise expressly provided therein, is held to give a continuing power of sale authorizing the mortgagee or his assignee after default, to sell the mortgaged property from time to time in separate lots or parcels. (Acts 1988, 1st Ex. Sess., No. 88-906, p. 479, §5.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-10-15.htm - 1K - Match Info - Similar pages
35-10-26
Section 35-10-26 Title revested upon payment of debt. The payment or satisfaction of the real property mortgage debt divests the title passing by the mortgage. "Payment or satisfaction of the real property mortgage debt" shall not occur until there is no outstanding indebtedness or other obligation secured by the mortgage, and no commitment or agreement by the mortgagee to make advances, incur obligations or otherwise give value (collectively referred to as "extend value"), under any agreement, including, without limitation, agreements providing for future advances, open end, revolving or other lines of credit, or letters of credit. Except as otherwise specifically provided to the contrary in the Alabama Residential Mortgage Satisfaction Act, upon the written request to satisfy a mortgage signed by the mortgagors and by all other persons who have a right to require the mortgagee to extend value or signed by other authorized representatives on behalf of the mortgagors and such other...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-10-26.htm - 2K - Match Info - Similar pages
10-4-24
Section 10-4-24 Borrowing of money and securing same by mortgage or deed of trust. All provisions of Title 10 have been repealed or transferred to Title 10A, effective January 1, 2011. (Code 1876, §1997; Code 1886, §1698; Code 1896, §1306; Code 1907, §3617; Acts 1919, No. 568, p. 826; Code 1923, §7171; Acts 1927, No. 119, p. 83; Code 1940, T. 10, §128.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10-4-24.htm - 686 bytes - Match Info - Similar pages
11-48-57
Section 11-48-57 Mailing of copies of deed and certificate to persons last assessed upon property described in deed by probate judge; entry of certificate on record of deed, etc. At the time of application for entry of such certificate of warning to redeem, the applicant shall deliver to the probate judge three correct copies of said deed with a notation thereon of the deed book and page where recorded and shall pay to said probate judge a fee of $1.00. Said copies of deed need not include any certificate of acknowledgment. It shall thereupon be the duty of said probate judge to promptly compare said copies with the record of such deed and, if such copies be found to be correct copies of such record, it shall be the further duty of such probate judge to ascertain from the ad valorem tax assessment records of his county the name of the person or persons other than the grantee in said deed to whom the property described in said deed was last finally assessed for ad valorem taxation,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-48-57.htm - 2K - Match Info - Similar pages
11-92C-9
Section 11-92C-9 Bonds of authority. (a) Source of payment. All bonds issued by an authority shall be payable solely out of the revenues and receipts derived from the leasing or sale by the board of its projects, or from any other source as may be designated in the proceedings of the board under which the bonds are authorized to be issued. (b) Pledge of revenues, receipts, and other security. The principal and interest on any bonds issued by an authority shall be secured by a pledge of the revenues and receipts out of which the principal and interest may be payable and may be secured by a mortgage and deed of trust or trust indenture conveying as security for the bonds all or any part of the property of the authority from which the revenues or receipts so pledged may be derived. (c) Resolutions. The resolution under which the bonds of an authority are authorized to be issued and any mortgage and deed of trust or trust indenture may contain any agreements and provisions respecting the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-92C-9.htm - 7K - Match Info - Similar pages
35-10-11
Section 35-10-11 Definitions. Unless the context otherwise requires, the words defined in this section shall have the following meanings when they appear in this article: (1) MORTGAGE. Any mortgage, deed of trust, or any other instrument intended to secure the payment of money, such as an instrument which includes a vendor's lien. (2) MORTGAGEE. All mortgagees, grantees or creditors in any mortgages, any trustees under deeds of trust, or any persons entitled to the money secured by any instrument intended to secure the payment of money such as an instrument which includes a vendor's lien. (Acts 1988, 1st Ex. Sess., No. 88-906, p. 479, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-10-11.htm - 974 bytes - Match Info - Similar pages
|