19-3A-412
Section 19-3A-412 Timber. (a) To the extent that a fiduciary accounts for receipts from the
sale of timber and related products pursuant to this section, the fiduciary shall allocate
the net receipts first to principal, based upon the volume of the timber at the time of transfer
to the trust or decedent's estate. The balance shall be allocated eighty percent (80%) to
income and the balance to principal. (b) In determining net receipts as provided for in subsection
(a), a fiduciary shall deduct the following expenses related to the sale of timber and related
products from gross receipts: (1) Management expenses; (2) Legal and accounting expenses and
fees; (3) Sales commissions; (4) Reforestation expenses; and (5) Any necessary timber stand
improvement expense that is recognized and accepted as good forest management practice at
the time of sale. (c) This chapter applies whether or not a decedent or transferor was harvesting
timber from the property before it became subject to the trust...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3A-412.htm - 1K - Match Info - Similar pages

2-3A-34
Section 2-3A-34 Expenses; disposition of proceeds. Upon order of the board of directors of
said authority, all expenses incurred in connection with the authorization, preparation, sale,
and issuance of bonds authorized herein and by Amendment 618 shall be paid out of the proceeds
thereof. The proceeds thereof remaining after payment of such expenses, together with the
income derived from the investment and reinvestment of such proceeds (including income derived
from the investment and reinvestment of previously derived income) shall be disbursed from
time to time on the order of said authority for payment of costs incurred in carrying out
the purposes authorized in said amendment, as follows: (1) the sum of $13,000,000 shall be
used for providing and improving animal diagnostic laboratories in the state in order to provide
improved animal health testing for livestock and poultry producers, veterinarians, animal
owners and animal-related businesses generally; (2) the sum of $18,200,000...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-3A-34.htm - 3K - Match Info - Similar pages

22-21-106
Section 22-21-106 Issuance of securities - In anticipation of tax; funds from which payable;
nature of obligation. Any hospital corporation may anticipate the proceeds from any special
county tax required to be paid to it in accordance with the provisions of this division, by
issuing securities for any one or more of the purposes for which the tax shall have been voted,
and may pledge for the payment of the principal thereof and interest thereon the annual proceeds
from the said tax so paid to it; provided, that if any constitutional provisions applicable
to the pledge of the said tax shall restrict the portion of such tax proceeds that may be
so pledged, then the hospital corporation shall have the power to pledge only that portion
of the said proceeds that may be so pledged without violation of the said constitutional provisions.
All securities issued under this division shall be payable from the proceeds of the special
tax in respect of which they were issued and from such other...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-106.htm - 2K - Match Info - Similar pages

23-1-158
Section 23-1-158 Bonds - Disposition of proceeds. (a) The proceeds of all bonds, other than
refunding bonds, issued by the corporation, remaining after paying the expenses of their issuance,
shall be turned in to the Treasury or shall be deposited into such account or accounts as
specified in the resolution of the board of directors whereunder such bonds are authorized
to be issued, and shall be subject to be drawn on upon the approval of the Department of Transportation
solely for the purpose of constructing, reconstructing, and relocating public roads, bridges
and approaches thereto, tunnels, other public roadway improvements, or work incidental or
related thereto, in the State of Alabama, including the acquisition of property necessary
for such construction, reconstruction, and relocation and incidental and related work. If
action is necessary in order to comply with any federal legislation relating to federal aid
in construction of roads, the corporation may authorize the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-1-158.htm - 5K - Match Info - Similar pages

40-18-86
Section 40-18-86 Sale or transfer of real property and associated tangible property by nonresidents.
(a) As used in this section, the term nonresident of Alabama shall include individuals, trusts,
partnerships, corporations, and unincorporated organizations. Any seller or transferor who
meets all of the following conditions and who provides the buyer or transferee with an affidavit
signed under oath swearing or affirming that all of the following conditions are met will
be deemed a resident for purposes of this section: (1) The seller or transferor has filed
Alabama income tax returns or appropriate extensions have been received for the two income
tax years immediately preceding the year of sale. (2) The seller or transferor is in business
in Alabama and will continue substantially the same business in Alabama after the sale or
the seller or transferor has real property remaining in the state at the time of closing of
equal or greater value than the withholding tax liability as...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-86.htm - 6K - Match Info - Similar pages

40-7-98
Section 40-7-98 Payment of pro rata shares of principal of and interest on warrants. The principal
of and interest on the warrants issued under the provisions of this division are hereby declared
to be lawful costs of the equalization program referred to in Division 1 of this article and
to be lawful and necessary governmental costs of the assessment and collection of ad valorem
taxes levied in the county issuing said warrants required by law to be paid as part of the
current governmental operating expenses of each tax recipient body receiving proceeds from
ad valorem taxation in said county. The principal and interest shall be paid pro rata by each
such tax recipient of such county and by the State of Alabama in the proportions which the
amount of ad valorem tax received by each tax recipient body, including the State of Alabama,
bears to the total amount of ad valorem tax received by all. For that purpose, the tax collector
of each county issuing warrants under this division is...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-7-98.htm - 2K - Match Info - Similar pages

9-6-15
Section 9-6-15 Exemptions from taxation; payment of fees, costs, etc. Each authority formed
under this chapter, the property and income of the authority, all bonds issued by the authority,
the income from such bonds or from any other sources, the interest and other profits from
such bonds enuring to and received by the holders thereof, conveyances by and to the authority
and leases, mortgages and deeds of trust by and to the authority shall be exempt from all
taxation in the State of Alabama. The authority shall not be obligated to pay or allow the
payment of any fees, taxes or costs to the Secretary of State in connection with its incorporation
or with any amendment to its certificate of incorporation or otherwise or to any judge of
probate of any county in connection with the recording by it of any document or otherwise,
the authority being hereby exempted from the payment of any such fees, taxes and costs. No
license or excise tax may be imposed by any authority with respect to the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-6-15.htm - 1K - Match Info - Similar pages

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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-97-18.htm - 4K - Match Info - Similar pages

2-6-116
Section 2-6-116 Disposition of bond proceeds. All proceeds derived from the sale of any bonds,
excluding refunding bonds, sold by the corporation remaining after payment of the expenses
of issuance thereof and the funding of any required reserve or replacement fund shall be deposited
into a special account to the credit of the corporation, and shall be subject to be drawn
on by the corporation solely for the purposes of paying the costs of the project work, and
all reasonable and necessary incidental expenses, including interest which shall accrue on
the bonds during the project work and for a period not exceeding two years thereafter. Any
balance of the proceeds remaining, upon completion of the project work and the payment of
all costs in connection therewith, shall be transferred to the debt service reserve fund account
of the corporation or used to redeem bonds issued by the corporation as may be determined
by the board of directors of the corporation. (Act 2011-575, p. 1231,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-6-116.htm - 1K - Match Info - Similar pages

2-6-118
Section 2-6-118 Trust fund. For the purpose of providing funds for the payment of the principal
of and interest on the bonds issued by the corporation under this article, there is created
and irrevocably pledged to the payment of such obligations a special and continuing trust
fund which shall consist of all receipts, revenues, and income that are derived or received
by the corporation from the leasing or operation of the project and that remain after payment
of the costs of maintaining and insuring the project. All such moneys shall be deposited into
the fund upon receipt, and held until applied for the payment of bonds of the corporation.
(Act 2011-575, p. 1231, §20.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-6-118.htm - 985 bytes - Match Info - Similar pages