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11-55-4
Section 11-55-4 Bonds - Security for payment of principal and interest. The principal
of and interest on any bonds issued under the authority of this chapter shall be secured by
a pledge of the revenues out of which such bonds shall be made payable, may be secured by
a mortgage covering all or any part of the project from which the revenues so pledged may
be derived and may be secured by a pledge of the lease of such project. The proceedings under
which such bonds are authorized to be issued or any such mortgage may contain any agreements
and provisions customarily contained in instruments securing bonds, including, without limiting
the generality of the foregoing, provisions respecting the fixing and collection of rents
for any project covered by such proceedings or mortgage, the terms to be incorporated in the
lease of such project, the maintenance and issuance of such project, the creation and maintenance
of special funds from the revenues from such project and the rights and...
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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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-44.6.htm - 7K - Match Info - Similar pages
40-7-25.4
Section 40-7-25.4 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018
REGULAR SESSION, EFFECTIVE FEBRUARY 6, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a)
The governing body of a county may grant an abatement of all or a portion of the taxes otherwise
due under Section 40-7-25.3 with respect to property located within the county. (b)
The abatement provided by subsection (a) may only be granted if all of the following are satisfied:
(1) The property will be used for a qualifying project as defined in Section 40-18-372
(1). (2) The qualifying project shall create at least the number of new jobs specified in
Section 40-18-372 (2). (3) The property is an area within which not less than fifty
million dollars ($50,000,000) of capital expenditures in connection with the establishment,
expansion, construction, equipping, development, or rehabilitation of such qualifying project
is anticipated to be made based upon representations and information provided by the anticipated...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-7-25.4.htm - 2K - Match Info - Similar pages
45-35-160.01
Section 45-35-160.01 Payments by credit card. (a)(1) The use of credit cards for any
payments made to a Houston County department, agency, board, or commission may be authorized
upon approval by the Houston County Commission as provided in subsection (b), and if authorized,
shall be accepted pursuant to rules and regulations promulgated by the Houston County Commission.
The rules and regulations shall include specific procedures for the acceptance of credit card
payments, including, but not limited to, provision for the payment of any discount or administrative
fee charged by the credit card issuer. The Houston County Commission may impose the assessment
of a surcharge or convenience fee from the person paying by credit card in an amount not greater
than the transaction fee charged by the credit card issuer. (2) Except as otherwise provided,
this section shall be construed to allow acceptance of credit card payments of any
types of amounts payable to Houston County as authorized by the...
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41-10-44.3
Section 41-10-44.3 Additional powers of authority. In addition to the powers granted
to it in Section 41-10-26 and in Sections 41-10-37 through 41-10-43, the authority
shall have the following powers: (1) To adopt and alter bylaws for the regulation and conduct
of its affairs and business; (2) To borrow money and to issue project obligations, whether
or not the interest thereon is excluded from gross income for federal income tax purposes,
for the purpose of financing project costs, and to provide for the rights of the purchasers,
holders or owners of its project obligations; (3) To execute and deliver mortgages, security
agreements and trust indentures and other forms of agreements for the purpose of securing
its project obligations, and in connection therewith, to mortgage, pledge or assign the revenues,
receipts and other property of the authority received, and the financing agreements entered
into by the authority in connection with, the financing of projects under this Article 2A;...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-44.3.htm - 5K - Match Info - Similar pages
45-49A-63.101
Section 45-49A-63.101 Insurance premiums. (a) On or before the first day of March of
each year, each insurance company writing fire insurance on property within the city limits
and its police jurisdiction shall pay to the city an amount equal to four percent of its gross
premiums, including all renewal premiums, less return premiums, collected by the company on
such policies in effect during the preceding year in the city and its police jurisdiction.
The city shall credit one-half of this amount to the fund within 30 days of its receipt by
the city. The remaining one-half shall be retained by the city and credited against the insurance
companies' business license obligations. (b) Each such insurance company, on or before the
due date of such payment, shall file with the city finance director a sworn, written statement
showing the gross amount of premiums, including all renewal premiums, less return premiums,
received on such policies during the preceding year. Any insurance company...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-49A-63.101.htm - 2K - Match Info - Similar pages
23-2-149
Section 23-2-149 Trust agreements securing bond issues; authorized provisions protecting
holders; pledge of revenues. In the discretion of the authority, any bonds issued under the
provisions of this article may be secured by a trust agreement by and between the authority
and a corporate trustee, which may be any trust company, or bank having the powers of a trust
company, within or without the state. The trust agreement or the resolution providing for
the issuance of such bonds subject to the provisions of Section 23-2-147, may pledge
or assign tolls or other revenues to which the authority's right then exists or which may
thereafter come into existence, and the moneys derived therefrom, and the proceeds of such
bonds; provided, however, that the trust agreement or resolution shall not convey or mortgage
any toll road, bridge or tunnel project or any part thereof. Such trust agreement or resolution
providing for the issuance of bonds may contain such provisions for protecting and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-2-149.htm - 4K - Match Info - Similar pages
23-7-9
Section 23-7-9 Financing agreements; other authorized financing; security interests.
(a) Qualified borrowers may obtain loans or other financial assistance from the bank through
financing agreements. Qualified borrowers entering into financing agreements and issuing loan
obligations to the bank may perform any acts, take any action, adopt any proceedings, and
make and carry out any contracts or agreements with the bank as may be agreed to by the bank
and any qualified borrower for carrying out the purposes of this chapter. (b) In addition
to the authorizations contained in this chapter, all other statutes or provisions permitting
government units to borrow money and issue obligations may be utilized by any government unit
in obtaining a loan or other financial assistance from the bank to the extent determined necessary
or useful by the government unit in connection with any financing agreement and the issuance,
securing, or sale of loan obligations to the bank. (c) A qualified borrower...
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35-12-71
Section 35-12-71 Definitions. As used in this article, unless the context otherwise
requires, the following terms shall have the meanings respectively ascribed to them by this
section: (1) APPARENT OWNER. A person whose name appears on the records of a holder
as the person entitled to property held, issued, or owing by the holder. (2) BUSINESS ASSOCIATION.
A corporation, joint stock company, investment company, partnership, unincorporated association,
joint venture, limited liability company, business trust, trust company, safe deposit company,
financial organization, insurance company, mutual fund, utility, or other business entity
consisting of one or more persons, whether or not for profit. (3) DOMICILE. The state of incorporation
of a corporation and the state of the principal place of business of a holder other than a
corporation. (4) FINANCIAL ORGANIZATION. A savings and loan association, building and loan
association, industrial loan organization, credit union, cooperative bank,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-12-71.htm - 6K - Match Info - Similar pages
7-1-201
Section 7-1-201 General definitions. (a) [Reserved]. (b) Subject to additional definitions
contained in the subsequent articles of this title which are applicable to specific articles
or parts thereof, and unless the context otherwise requires, in this title: (1) "Action,"
in the sense of a judicial proceeding, includes recoupment, counterclaim, set-off, suit in
equity, and any other proceeding in which rights are determined. (2) "Aggrieved party"
means a party entitled to pursue a remedy. (3) "Agreement," as distinguished from
"contract," means the bargain of the parties in fact, as found in their language
or inferred from other circumstances, including course of performance, course of dealing,
or usage of trade as provided in Section 7-1-303. (4) "Bank" means a person
engaged in the business of banking and includes a savings bank, savings and loan association,
credit union, and trust company. (5) "Bearer" means a person in possession of a
negotiable instrument, document of title, or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-1-201.htm - 11K - Match Info - Similar pages
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