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11-88-10
Section 11-88-10 Bonds of authority - Statutory mortgage lien to secure payment of principal
and interest. Any resolution of the board or trust indenture under which bonds may be issued
pursuant to the provisions of this article 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 water systems, sewer systems and fire protection facilities or any thereof (including
any after-acquired property) out of the revenues from which such bonds are made payable. The
said resolution of the board or the said trust indenture may provide for the filing for record
in the office of the judge of probate of each county in which any part of such water systems,
sewer systems and fire protection facilities or any thereof may be located of a notice containing
a brief description of such systems and facilities or either, a brief description of such
bonds and a declaration that said statutory mortgage lien has...
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11-89-10
Section 11-89-10 Bonds of district - Statutory mortgage lien to secure payment of principal
and interest. Any resolution of the board 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 water systems, sewer systems, and fire protection facilities or any thereof (including
any after-acquired property) out of the revenues from which such bonds are made payable. The
said resolution of the board or the said trust indenture may provide for the filing for record
in the office of the judge of probate of each county in which any part of such water systems,
sewer systems, and fire protection facilities or any thereof may be located of a notice containing
a brief description of such systems and facilities or either, a brief description of such
bonds and a declaration that said statutory mortgage lien has...
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41-10-144
Section 41-10-144 Bonds - Statutory mortgage lien to secure payment of principal and interest;
recording notice. Any resolution of the board or trust indenture under which bonds may be
issued pursuant to the provisions of this article 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 board or the said trust indenture may provide for the filing for 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 the 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...
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35-10-30
Section 35-10-30 Penalty. (a) If, for 30 days after such request, the mortgagee or assignee
or transferee, trustee or cestui que trust, fails to make any entry required by this article
he forfeits to the party making the request $200.00 unless there is pending, or there is instituted,
an action within that time, in which the fact of partial payment or satisfaction is or may
be contested. In construing this article, the right of action given herein shall be considered
as a personal right, and shall not be lost or waived by a sale of the property covered by
the mortgage or deed of trust before a demand was made for the satisfaction to be entered
upon the record. (b) All actions for the recovery of the penalties mentioned in this article
shall be brought in the county where such mortgage or other instrument is recorded. (c) This
section does not apply to satisfactions of residential mortgages which are governed by the
Alabama Residential Mortgage Satisfaction Act. (Code 1852, §§1343,...
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11-62-18
Section 11-62-18 Exemptions of authority - Taxation. (a) Every authority shall exercise its
powers in all respects for the benefit of the people of the state, for their well-being and
for the improvement of their health and social condition, and the exemptions from taxation
hereinafter described are hereby granted in order to promote the more effective and economical
exercise of such powers. (b) No income, excise, or license tax shall be levied upon or collected
in the state with respect to any corporate activities of an authority or any of its revenues,
income, or profit. No ad valorem tax or assessment for any public improvement shall be levied
upon or collected in the state with respect to any property during any time that title to
such property is held by an authority, including, without limiting the generality of the foregoing,
any time that such property is leased to a user by an authority pursuant to a lease which
provides that title to such property shall automatically pass to...
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11-97-18
Section 11-97-18 Exemption from taxation. (a) Every corporation shall exercise its powers in
all respects for the benefit of the people of the state, for their well being, and for the
improvement of their health, welfare, and social condition, and the exemptions from taxation
hereinafter described are hereby granted in order to promote the more effective and economical
exercise of such powers. (b) No income, sales, use, or other excise or license tax shall be
levied upon or collected in the state with respect to any corporate activities of a corporation
or any of its revenues, income, or profit. No ad valorem tax or assessment for any public
improvement shall be levied upon or collected in the state with respect to any property during
any time that title to such property is held by a corporation, including, without limiting
the generality of the foregoing, any time that such property is leased to a provider by a
corporation pursuant to a lease which provides that title to such property...
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19-3-120
Section 19-3-120 Classes of authorized investments; repeal of conflicting statutes. (a) Unless
otherwise authorized or directed by the court having jurisdiction thereof, or by the will,
trust agreement or other document which is the source of authority, a trustee, executor, administrator,
guardian or one acting in any other fiduciary capacity, other than as a trustee governed by
the Alabama Uniform Trust Code, with the exercise of reasonable business prudence, in addition
to any other investments now permitted by law, may invest funds in securities or investments
which, at the time of the making or purchase thereof, are included in one or more of the following
classes: (1) Bonds or other interest-bearing obligations of the United States of America,
or payment of which the United States of America has guaranteed as to both principal and interest.
(2) Bonds issued by the Federal Land Bank, under the act of Congress of the United States
of America, designated as "the Federal Farm Loan...
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41-10-44.6
Section 41-10-44.6 Project obligations generally. (a) Issuance of project obligations. The
authority is authorized and empowered to issue its project obligations from time to time for
the purpose of financing one or more projects in such aggregate principal amount as the board
of directors shall determine to be necessary to provide for all or a portion of the project
costs of the project or projects being financed and to pay the expenses of issuing the project
obligations. (b) Source of payment. All project obligations issued by the authority shall
be limited obligations of the authority payable solely from any combination of the following:
(1) The revenues and receipts of the authority derived from the financing agreement or agreements
entered into by the authority with respect to the project or projects financed by such project
obligations; (2) the income or proceeds realized by the authority under any mortgage or other
security granted to the authority; (3) amounts derived from any...
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24-1A-12
Section 24-1A-12 Exemption from taxation. The property and income of the authority, all bonds
issued by the authority, the interest payable on and the income derived from such bonds, conveyances
by or to the authority and leases, mortgages and deeds of trust or trust indentures by or
to the authority shall be exempt from all taxation in the state. The authority shall be exempt
from all taxes levied by any county, municipality or other political subdivision of the state,
including, but without limitation, license and excise taxes imposed in respect of the privilege
of engaging in any of the activities in which the authority may engage. Nothing in this section
shall be construed to exempt any private person, firm or corporation from payment of any ad
valorem, mortgage or deed taxes or recording fees notwithstanding the fact that the authority
shall have acquired an interest in the property or instrument subject to such taxes or fees.
(Acts 1980, No. 80-585, p. 899, §14.)...
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32-8-2
Section 32-8-2 Definitions. For the purpose of this chapter, the following terms shall have
the meanings respectively ascribed to them in this section, except where the context clearly
indicates a different meaning: (1) CURRENT ADDRESS. A new address different from the address
shown on the application or on the certificate of title. The owner, within 30 days after the
address is changed from that shown on the application or on the certificate of title, shall
notify the department of the change of address in the manner prescribed by the department.
(2) DEALER. A person licensed as an automobile or motor vehicle dealer, or travel trailer
dealer and engaged regularly in the business of buying, selling, or exchanging motor vehicles,
trailers, semitrailers, trucks, tractors or other character of commercial or industrial motor
vehicles, or travel trailers in this state, and having in this state an established place
of business. (3) DEPARTMENT. The Department of Revenue of this state. (4)...
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