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37-4-42
Section 37-4-42 Approval by commission - Property located within single municipality. In cases
where the property of the utility proposed to be sold and conveyed or leased lies within,
and the franchises and public duties thereof relate to a single municipality, and in cases
where such a utility is owned by a corporation, and its capital stock is proposed to be sold,
the question whether the proposed sale and conveyance or lease is consistent with the interests
of the public shall be determined by the governing body of such municipality, and also by
the Public Service Commission, and if the governing body of such municipality and the commission
shall each determine that the proposed sale and conveyance, or lease, is consistent with the
interests of the public, their determination shall be shown by their approval of the proposed
sale and conveyance or lease. (Acts 1915, No. 205, p. 268; Code 1923, §9826; Code 1940, T.
48, §338.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-4-42.htm - 1K - Match Info - Similar pages
40-9-14
Section 40-9-14 Property used for public purposes. Lands in the purchase of which any municipality
of the state has invested money pursuant to the terms of a lease sale contract or option agreement
shall, during the life of such lease sale contract or option agreement, be exempt from ad
valorem taxation so long as said lands are being used by such municipalities for park, municipal
or other public purpose, or where the same are contracted for and in the possession of such
municipalities with the bona fide intention of being so used. (Acts 1927, No. 121, p. 85;
Code 1940, T. 51, §13.)...
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11-101A-1
Section 11-101A-1 Legislative intent. It is the intent of the Legislature to authorize the
several counties and municipalities in the state effectively to form public corporations whose
corporate purpose shall be to provide buildings, facilities, and other property for lease
to and use by the United States of America, its departments, agencies, and instrumentalities,
to invest those public corporations with all powers that may be necessary to enable them to
accomplish that purpose, and to authorize each county and municipality forming each public
corporation to provide financial support and to take other action as may be necessary to enable
the public corporation to carry out the purposes of this chapter. This chapter shall be liberally
construed in conformity with this intent. (Act 2001-642, p. 1317, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-101A-1.htm - 1K - Match Info - Similar pages
2-10-98
Section 2-10-98 Organization with capital stock. Incorporated associations may be organized
under this article with capital stock at the option of the organizers. In that event the association
shall be organized by the same method and for the same recording fee as in the case of those
associations organized without capital stock, except that the articles of association shall
set forth also that the association is organized with capital stock and the amount of capital
stock authorized with particulars as to the class or classes thereof and the par value of
shares. There shall be no individual liability on the part of shareholders, members, officers
or directors for the obligations of the corporation. The articles of association may provide
for preferred stock as well as common stock, but all shares shall have a definite par value,
and all shares of the same class shall have the same par value. If so divided, the articles
of incorporation must contain a statement of the number of shares...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-10-98.htm - 2K - Match Info - Similar pages
37-4-40
Section 37-4-40 Right to sell or lease property. The property of a utility, together with its
franchises, contracts, business, good will and other assets, may be lawfully sold and conveyed
or leased to, and thereafter lawfully held, enjoyed and operated by, a purchaser then engaged
or proposing to engage in the business conducted by such utility; or the capital stock of
a corporation owning and operating a utility may be lawfully sold and conveyed to, and thereafter
lawfully held and enjoyed by, a purchaser, whether or not such purchaser is engaged, or proposes
to engage, in the business conducted by such utility; whenever such sale and conveyance or
lease of the property, franchises, contracts, good will and other assets of such utility,
or whenever the sale and conveyance of the capital stock of such corporation is consistent
with the interests of the public. (Acts 1915, No. 205, p. 268; Code 1923, §9825; Code 1940,
T. 48, §337.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-4-40.htm - 1K - Match Info - Similar pages
11-63-2
Section 11-63-2 Loans, grants, etc., of property, payment of principal or interest on outstanding
bonds and securities, etc., by municipalities for assistance of related public corporations
authorized generally; issuance of bonds by municipalities to provide moneys for loans, payments,
etc., generally; creation of irrevocable trust funds for payment of corporate securities.
(a) In addition to all other powers that a municipality may have with respect to a related
public corporation, any municipality may, with or without consideration and on such terms
as its governing body may deem advisable: (1) Lend or donate money to, or perform services
for the benefit of, a related public corporation; (2) Donate, convey, transfer, lease, or
grant to a related public corporation any property of any kind; (3) Pay, or provide for the
payment of, the principal of or interest on any then outstanding bonds or other securities
theretofore issued by a related public corporation, whether or not such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-63-2.htm - 2K - Match Info - Similar pages
11-97-20
Section 11-97-20 Exemption from competitive bid laws. Any corporation and all contracts made
by it shall be exempt from the laws of the state requiring competitive bids for any contract
to be entered into by counties, municipalities, public corporations, or other instrumentalities
authorized by them, including, but without limitation to, the provisions of Article 3 of Chapter
16 of Title 41. Further, all contracts, whether or not involving any corporation as a party
thereto, which relate to the design, construction, acquisition, financing, or operation of
any facilities that are financed, in whole or in part, by any corporation pursuant to the
provisions of this chapter (including, without limitation, utility services agreements and
contracts for the design, construction, and equipment of such facilities) shall be exempt
from (1) such laws requiring competitive bids for any contract to be entered into by counties,
municipalities, public corporations, or other instrumentalities...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-97-20.htm - 1K - Match Info - Similar pages
40-14-41
Section 40-14-41 (Not Effective After December 31, 1999) Levy on foreign corporations. (a)
Amount of levy. Every corporation organized under the laws of any other state, nation, or
territory and doing business in this state, except strictly benevolent, educational, or religious
corporations, shall pay annually to the state an annual franchise tax of three dollars ($3)
on each one thousand dollars ($1,000) of the actual amount of its capital employed in this
state. Corporations which have qualified to do business in this state shall for the purpose
of this title prima facie be held to be doing business in Alabama. However, in no event shall
the amount paid by any corporation for annual franchise tax be less than the sum of twenty-five
dollars ($25). (b) Definition of capital. The total capital of such foreign corporation, herein
referred to as the "taxpayer," shall equal the aggregate net amount of the following
items determined in accordance with generally accepted accounting...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-14-41.htm - 13K - Match Info - Similar pages
40-21-5
Section 40-21-5 Reports of individuals or associations not incorporated. Whenever any person
or association of persons, not being a corporation and having no capital stock, shall engage
in this state in any character of business embraced within the provisions of this chapter,
the capital and property, or the certificate or other evidence of the rights or interest of
the person engaged in such business shall be deemed and treated as the capital stock of such
persons or association of persons for the purpose of taxation and for all purposes under this
title and shall be estimated and valued, and the intangible property values thereof, when
ascertained, shall be apportioned and distributed and assessed and taxed under the provisions
hereof in like manner as if such person or association of persons were a corporation, and
each such person or association of persons shall annually, within the time and the manner
provided in this chapter, make the statements and reports and give the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-21-5.htm - 1K - Match Info - Similar pages
31-4-8
Section 31-4-8 Acquisition, construction, etc., of armories, grounds, etc. The Armory Commission
may, either alone or in cooperation with the United States or political subdivisions of the
state, such as counties, cities, or incorporated towns, and private corporations, voluntary
unincorporated associations or individuals, construct or acquire by purchase, contract, lease,
gift, donation, or condemnation, armories, buildings, or grounds, suitable for drill instruction
and administration and the safekeeping of public property and make additions and improvements
in or to such armories and facilities, and, either alone or with the like cooperation of others,
provide heat, light, water, telephone service, and other costs of operation and maintenance,
including insurance. The amounts to be appropriated out of any armory funds for the construction
or acquisition of armories, and for the maintenance or rental of armories, shall, within the
limits set forth in this section, be wholly within...
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