41-10-627
Section 41-10-627 Refunding bonds. (a) Any bonds issued by the authority may from time to time
be refunded by the issuance, sale, or exchange of refunding bonds for the purpose of paying
the following items: (1) All or any part of the principal of the bonds to be refunded. (2)
Any redemption premium required to be paid as a condition to the redemption prior to maturity
of any such bonds that are to be so redeemed in connection with such refunding. (3) Any accrued
and unpaid interest on the bonds to be refunded. (4) Any interest to accrue on each bond to
be refunded to the date on which it is to be paid, whether at maturity or by redemption prior
to maturity. (5) The expenses incurred in connection with the refunding. (b) Any refunding
bonds may be sold by the authority at public or private sale at such price or prices as may
be determined by the authority to be most advantageous, or may be exchanged for the bonds
to be refunded. Any such refunding bonds may be executed and delivered by...
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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...
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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...
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41-10-756
Section 41-10-756 Refunding bonds. (a) Any bonds issued by the authority may from time to time
be refunded by the issuance, sale, or exchange of refunding bonds for the purpose of paying
the following items: (1) All or any part of the principal of the bonds to be refunded. (2)
Any redemption premium required to be paid as a condition to the redemption prior to maturity
of any such bonds that are to be so redeemed in connection with such refunding. (3) Any accrued
and unpaid interest on the bonds to be refunded. (4) Any interest to accrue on each bond to
be refunded to the date on which it is to be paid, whether at maturity or by redemption prior
to maturity. (5) The expenses incurred in connection with the refunding. (b) Refunding bonds
of the authority may be sold, in the discretion of the authority, either (1) at public sale
or sales, based on sealed bids received either electronically or on paper, after advertisement
as may be prescribed by the authority, to the bidder whose bid...
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11-62-10
Section 11-62-10 Refunding bonds and notes. (a) Any authority may issue refunding bonds or
notes for the purpose of refunding any bonds or notes then outstanding which have been issued
under the provisions of this chapter, including the payment of any redemption premium thereon,
any interest accrued or to accrue to the date of maturity or earlier redemption of such bonds
or notes and any expenses of such refunding, including, without limitation to, attorneys'
fees, costs of printing the refunding bonds or notes, financial advisors' fees and accountants'
fees, and for the purpose of refunding any of its bonds or notes in combination with any other
corporate purpose of such authority. The issuance of such refunding bonds or notes, the maturities
and other details thereof, the rights of the holders thereof and the rights, duties and obligations
of such authority in respect thereof shall be governed by the provisions of this chapter relating
to the issuance of bonds and notes generally, to...
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11-89B-2
Section 11-89B-2 Form, terms, denominations, etc. of bonds; execution and delivery; interest;
sale; issuance of refunding bonds; liability on bonds; source of payment; use of proceeds;
mortgage, deed of trust, etc., containing certain agreements. All bonds issued pursuant to
the provisions of this chapter shall be signed by the chairman of the board of directors or
other governing body or other chief executive officer of such public corporation and attested
by its secretary and the seal of such public corporation shall be affixed thereto; provided,
that a facsimile of the signatures of both of the officers whose signatures will appear on
the bonds may be imprinted or otherwise reproduced thereon in lieu of being manually signed
if the proceedings in which the bonds are authorized to be issued provide for the manual authentication
of such bonds by a trustee, registrar or paying agent; provided further, that a facsimile
of the seal of such public corporation may be imprinted or otherwise...
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2-6-117
Section 2-6-117 Disposition of refunding bond proceeds. (a) The proceeds of refunding bonds
shall be applied, together with any other moneys legally available, to the payment of the
expenses authorized by this article and to the payment of the principal of, premium, if any,
and interest due and to become due on any outstanding bonds to be refunded. The expenses authorized
by this article shall include, in addition to other expenses authorized by this article, all
expenses that the board of directors may deem necessary or advantageous in connection with
the sale and issuance of refunding bonds, including, without limitation, the expenses of selling
and issuing such refunding bonds, including any discount reflected in the purchase price paid
to the corporation, fees and disbursements of attorneys, accountants, fiscal agents, financial
advisors, and other consultants, fees and disbursements of trustees, escrow agents, registrars,
paying agents, transfer agents, depositories for...
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41-10-270
Section 41-10-270 Use of proceeds from sale of bonds. All proceeds derived from the sale of
any bonds (except refunding bonds) by the authority remaining after payment of the expenses
of issuance thereof shall be turned over to the State Treasurer, shall be carried in a special
account of the State Treasury to the credit of the authority, and shall be subject to be drawn
on by the authority solely for the purposes of funding any required reserve fund, acquiring,
constructing, installing and equipping judicial facilities and paying all reasonable and necessary
expenses incidental thereto, including interest which shall accrue on said bonds during the
construction of said judicial facilities. Any balance of said proceeds thereafter remaining
shall, upon completion of said judicial facilities and the payment of all costs in connection
therewith, be used for the redemption of bonds of the authority at the earliest permissible
date. (Acts 1986, No. 86-420, p. 627, §11.)...
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41-10-142
Section 41-10-142 Bonds - Issuance; form, terms, denominations, etc.; sale; refunding bonds;
negotiable; security for payment. All bonds issued by an authority may be executed by such
officers of the authority and in such manner as shall be provided in the proceedings of the
board whereunder the bonds shall be authorized to be issued. Any such bonds may be executed
and delivered by an authority at any time and from time to time, shall be in such form and
denominations and of such tenor and maturities, shall contain such provisions not inconsistent
with the provisions of this article and shall bear such rate or rates of interest, payable
and evidenced in such manner as may be provided by resolution of its board. Bonds of an authority
may be sold at either public or private sale in such manner and at such price or prices and
at such time or times as may be determined by the board to be most advantageous. The principal
of or interest on any bonds issued or obligations assumed by an...
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2-3A-55
Section 2-3A-55 Refunding bonds. Pursuant to the provisions of Amendment 619 and this article,
the authority may, at any time and from time to time, issue for the state refunding bonds
of the state for the purpose of refunding any or all of the bonds authorized by the aforesaid
amendment then outstanding (including any refunding bonds that may have been previously issued),
whether such refunding shall occur before, at or after the maturity of the bonds to be refunded.
In the discretion of the authority, refunding bonds may be issued in exchange for such outstanding
bonds or they may be sold and the proceeds thereof applied to the purchase, redemption or
payment of such outstanding bonds. Refunding bonds to be issued in exchange for such outstanding
bonds shall not be issued in a principal amount greater than the principal amount of the bonds
to be refunded. Refunding bonds to be sold pursuant hereto may be issued in such principal
amount or amounts as shall be determined by said...
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