11-54-60
Section 11-54-60 Municipalities not to contribute to costs of acquisition of projects or use municipal lands for projects. No municipality shall have the power to pay out of its general funds or otherwise contribute any part of the costs of acquiring a project and shall not have the power to use land already owned by the municipality or in which the municipality has an equity for construction thereon of a project or any part thereof. The entire cost of acquiring any project must be paid out of the proceeds from the sale of bonds issued under the authority of this article; provided, however, that this provision shall not be construed to prevent a municipality from accepting donations of property to be used as a part of any project or money to be used for defraying any part of the cost of any project or from requiring any lessee of a project to pay the cost of completing such project in the event the proceeds from the sale of the bonds are insufficient therefor. (Acts 1973, No. 812, p....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54-60.htm - 1K - Match Info - Similar pages
41-10-268
Section 41-10-268 Authorization, issuance and sale of bonds. The authority is hereby authorized from time to time to sell and issue its interest-bearing or noninterest-bearing bonds, in one or more series, not to exceed an aggregate principal amount of $40,000,000.00, excluding refunding bonds described in Section 41-10-277, for the purpose of providing funds for the acquisition, construction, installation and equipping of judicial facilities, and for payment of obligations incurred for any of said purposes. Bonds of the authority may be in such form and denominations, may be of such tenor, may be payable in such installments and at such time or times not exceeding 30 years from their date, may be payable at such place or places, may be redeemable at such times and under such conditions, may bear interest at such rate or rates payable and evidenced in such manner or may be structured to bear no interest or to reflect compound interest and may be secured in such manner, all as shall not...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-268.htm - 2K - Match Info - Similar pages
45-37-170.26
Section 45-37-170.26 Powers of authority. The authority shall have the following powers together with all powers incidental thereto or necessary for the performance of the powers stated in this section: (1) To have succession by its corporate name without time limit. (2) To sue and be sued and to prosecute and defend civil actions in any court having jurisdiction of the subject matter and of the parties. (3) To have and to use a corporate seal and to alter the same at its pleasure. (4) To receive and expend funds from federal, state, county, municipal, and private sources for the purposes hereof. (5) To dig channels, build dikes, dams, and lakes or ponds to contain flood waters as deemed useful by it to improve flood control, and whenever practical to build any and all facilities which can contribute to the use of such flood control channels for navigation. (6) To contract with municipalities and counties for the financing and joint construction and operation of such facilities. (7) To...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37-170.26.htm - 3K - Match Info - Similar pages
41-10-468
Section 41-10-468 Use of proceeds from sale of bonds. All proceeds derived from the sale of any bonds (except refunding bonds) sold by the authority remaining after payment of the expenses of issuance thereof and the funding of any required reserve or replacement fund shall be turned over to the State Treasurer, shall be carried by the State Treasurer in a special account to the credit of the authority, and shall be subject to be drawn on by the authority solely for the purposes of constructing, renovating, reconstructing, improving, altering, adding to, demolishing, and equipping one or more public office buildings (including the State Capitol), surfacing and resurfacing of land for parking and other uses to produce revenue, and all reasonable and necessary expenses incidental thereto, including interest which shall accrue on said bonds during the construction, renovation, reconstruction, improvement, alteration, addition, demolition, and equipping of said buildings, surfacing and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-468.htm - 2K - Match Info - Similar pages
11-28-1.1
Section 11-28-1.1 Definitions. As used in this chapter, the following words and phrases shall have the following respective meanings, unless the context clearly indicates otherwise: (1) COSTS. When used with reference to or in connection with any public facility or any portion thereof, include all or any part of the cost of acquiring, constructing, altering, enlarging, extending, reconstructing, or remodeling such public facility, including the cost of all lands, structures, real or personal property, rights, rights-of-way, franchises, easements, permits, licenses, and interests acquired or used for, in connection with or with respect to such public facility, the cost of demolishing or removing any buildings or structures on land so acquired, including the cost of acquiring land to which such buildings or structures may be moved, the cost of all machinery, equipment, furniture, furnishings, and fixtures acquired or used for, in connection with or with respect to such public facility,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-28-1.1.htm - 8K - Match Info - Similar pages
11-50A-20
Section 11-50A-20 Trust agreement. In the discretion of the authority, any issue of bonds may be secured by a trust agreement or indenture made by the authority with a corporate trustee, which may be any trust company or bank within or without the state having the powers of a trust company. The trust agreement or indenture may pledge or assign any revenues to be received by the authority and any proceeds which may be derived from the disposition of any real or personal property of the authority or proceeds of insurance carried thereon. The resolution providing for the issuance of bonds and the trust agreement or indenture may contain any provisions the authority deems necessary or appropriate for protecting and enforcing the rights and remedies of the bondholders, including the right of appointment of a receiver upon default in the payment of any principal or interest obligation and the right of any receiver or trustee to enforce collection of any rates, fees, tolls, charges, or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50A-20.htm - 3K - Match Info - Similar pages
2-6-78
Section 2-6-78 Disposition of proceeds from sale of securities. All proceeds derived from the sale of any securities of the corporation, other than refunding securities, shall be deposited in the State Treasury and carried in a special account or accounts, and may be withdrawn solely for the purposes and in the amounts set out below: (1) No more than 60 percent of the said proceeds shall be used for the acquisition, construction and installation of a market facility by the Board of Agriculture and Industries. Withdrawals for such purpose shall be upon requisition by or pursuant to authority of the Board of Agriculture and Industries addressed and presented to the State Comptroller and paid out by the warrant of the Comptroller upon the State Treasury, to be used only to pay the following: a. The cost of materials, supplies and labor used in the construction of the market facility; b. The cost of acquisition and installation of equipment for the market facility; c. The cost of acquiring...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-6-78.htm - 4K - Match Info - Similar pages
11-50B-9
Section 11-50B-9 Funding. (a) In order to provide funds for payment of the costs of the acquisition, establishment, purchase, construction, maintenance, enlargement, extension, lease, or improvement of cable systems, telecommunications equipment, and telecommunications systems, public providers, within the limitations applicable under the Constitution of Alabama of 1901, may become indebted in an amount not to exceed the costs and the costs incurred in issuing the indebtedness and, in evidence thereof, issue the public provider's bonds or other evidences of indebtedness, as the case may be, in the manner, tenor, and form as may be otherwise provided by law, for the issuance of the public provider's warrants, bonds, or other evidences of indebtedness generally. The warrants, bonds, or other evidences of indebtedness issued pursuant to this section shall be payable solely from the revenues derived or to be derived from the operation of the systems or equipment and shall not have a...
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23-1-178
Section 23-1-178 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 deposited in the State Treasury and credited to the Road and Bridge Fund, and shall be subject to be drawn on by the corporation, upon the approval of the State Department of Transportation, but solely for the purpose of constructing, reconstructing , or relocating public roads and bridges, or work incidental or related thereto, including the acquisition of property necessary therefor, in the State of Alabama; provided, that such funds may be used only for payment of the state's share or the costs thereof to be paid by any county or municipality within the state, of the cost of constructing, reconstructing, or relocating public roads and bridges, or work incidental or related thereto, which have been or will be constructed, reconstructed, or relocated under programs financed jointly by the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-1-178.htm - 5K - Match Info - Similar pages
11-20-11
Section 11-20-11 Counties not to contribute costs of acquisition of projects or county lands therefor. No county shall have the power to pay out of its general funds or otherwise contribute any part of the costs of acquiring a project and shall not have the power to use land already owned by the county or in which the county has an equity for construction thereon of a project or any part thereof. The entire cost of acquiring any project must be paid out of the proceeds from the sale of bonds issued under the authority of this article; provided, however, that this provision shall not be construed to prevent a county from accepting donations of property to be used as a part of any project or money to be used for defraying any part of the cost of any project. (Acts 1961, Ex. Sess., No. 178, p. 2147, ยง9.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-20-11.htm - 1K - Match Info - Similar pages
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