22-21-324
Section 22-21-324 Use of proceeds. (a) The principal proceeds derived from any borrowing made
by an authority shall be used solely for the purpose or purposes for which such borrowing
was authorized to be made. If any securities are issued for the purpose of financing costs
of acquiring, constructing, improving, enlarging and equipping health care facilities, such
costs shall be deemed to include the following: (1) The cost of any land forming a part of
such health care facilities; (2) The cost of the labor, materials and supplies used in any
such construction, improvement or enlargement, including architectural and engineering fees
and the cost of preparing contract documents advertising for bids; (3) The purchase price
of, and the cost of installing, equipment for such health care facilities; (4) The cost of
landscaping the lands forming a part of such health care facilities and of constructing and
installing roads, sidewalks, curbs, gutters, utilities and parking places in...
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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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11-47-225
Section 11-47-225 Use of proceeds of borrowing; application of any portion of proceeds not
needed for original purposes. (a) The principal proceeds derived from any borrowing made by
an authority shall be used solely for the purpose or purposes for which the borrowing was
authorized. If any bonds are issued for the purpose of financing costs of acquiring, constructing,
improving, enlarging, and equipping a project, the costs shall be deemed to include the following:
(1) The cost of any land forming a part of the project. (2) The cost of the labor, materials,
and supplies used in the construction, improvement, or enlargement, including architectural
and engineering fees and the cost of preparing contract documents and advertising for bids.
(3) The purchase price of, and the cost of installing, equipment for the project. (4) The
cost of landscaping the lands forming a part of the project and of constructing and installing
roads, sidewalks, curbs, gutters, utilities, and parking places in...
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11-56-14
Section 11-56-14 Bonds - Disposition of proceeds from sale. (a) The proceeds derived from the
sale of any bonds (other than refunding bonds) may be used only to pay the cost of acquiring,
constructing, improving, enlarging and equipping the project with respect to which they were
issued as may be specified in the proceedings in which the bonds are authorized to be issued.
(b) Such cost, which shall be paid from the proceeds derived from the sale of bonds, shall
be deemed to include the following: (1) The cost of any land forming a part of the project;
(2) The costs of the labor, materials and supplies used in any such construction, improvement
or enlargement, including architect's and engineer's fees and the cost of preparing contract
documents and advertising for bids; (3) The purchase price of and the cost of installing equipment
for the project; (4) The cost of landscaping the lands forming a part of the project and of
constructing and installing roads, sidewalks, curbs, gutters,...
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41-10-363
Section 41-10-363 Refunding bonds; proceeds of sale of refunding bonds. Any bonds issued by
the authority under this article may from time to time thereafter be refunded by the issuance
of refunding bonds of the authority. Any such refunding bonds may be issued whether the bonds
to be refunded shall have then matured or shall thereafter mature, and such refunding may
be effected either by sale of the refunding bonds and the applications of the proceeds thereof
to the payment or redemption of the bonds so refunded or by exchange of the refunding bonds
for those to be refunded thereby; provided, that the holders of any bonds so to be refunded
shall not be compelled without their consent to surrender their bonds for payment or exchange
prior to the date on which they are payable or, if they are called for redemption, prior to
the date on which they may be redeemed by the authority according to their terms. Any refunding
bonds may be issued in such aggregate principal amount as the...
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9-14A-19
Section 9-14A-19 Bonds - Proceeds - Alabama State Parks System Maintenance Fund. Except as
provided herein, the proceeds from the bonds issued by the Alabama State Parks System Improvement
Corporation and interest income thereon are appropriated for the acquisition, provision, construction,
improvement, renovation, equipping, and maintenance of the state parks system and the issuance
costs of the bonds. Five percent of such proceeds and any revenues generated therefrom shall
be distributed into a separate fund entitled the Alabama State Parks System Maintenance Fund
and shall be used exclusively for maintenance of the state parks system. (Act 2000-708, p.
1487, §19.)...
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9-14A-20
Section 9-14A-20 Bonds - Proceeds - Appropriations. The proceeds from the bonds issued by the
Alabama Public Historical Sites and Parks Improvement Corporation and interest income thereon
shall be appropriated as follows: (a) Three million dollars ($3,000,000) of the proceeds and
interest thereon shall be used for the acquisition, improvement, renovation, equipping and
maintenance of state-owned public historical sites and public historical parks not under the
jurisdiction of the Department of Conservation and Natural Resources. (b) Three million dollars
($3,000,000) for the acquisition, improvement, renovation, equipping, and maintenance of publicly-owned
historical sites, public parks, and public historical parks not under the jurisdiction of
the Department of Conservation and Natural Resources, provided that the corporation may provide
up to one third of this amount for the acquisition, improvement, renovation, equipping, and
maintenance of publicly-owned historical sites and...
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11-92A-16
Section 11-92A-16 Use of bonds, proceeds, etc. (a) The proceeds from the sale of any bonds
shall be applied as provided in the proceedings in which the bonds are authorized to be issued,
including without limitation, the payment of all legal, fiscal, and recording fees and expenses
incurred in connection with the authorization, sale, and issuance of the bonds and, if so
provided in the proceedings authorizing their issuance, interest on said bonds (or if only
a part of any issue of bonds is issued for acquisition purposes, interest on that portion
of the bonds of that issue that is issued to pay acquisition costs) for a reasonable period
prior to and during the time required for the acquisition, construction, and equipping of
the project. An authority may provide in the proceedings authorizing the issuance of bonds
for the funding of a debt service reserve and/or a replacement and extension reserve from
the proceeds of its bonds. (b) All contracts made by an authority and all bonds...
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33-2-188
Section 33-2-188 Docks facilities revenue bonds and refunding bonds - Disposition of proceeds
of refunding bonds. The proceeds of refunding bonds shall be applied, together with any other
moneys legally available therefor 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 thereby and, if so required by order of the director,
shall be deposited by the department, with one or more trustees or escrow agents, which trustees
or escrow agents shall be trust companies or national or state banks, located either within
or without the state, having powers of a trust company, in an interest account to pay interest
on refunding bonds, and in a reserve account to further secure the payment of the principal
of, premium, if any, and interest on any refunding bonds. Proceeds of refunding bonds may
also be applied to repay the department's lease obligations with...
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41-10-97
Section 41-10-97 Disposition of proceeds from sale of bonds generally. The proceeds derived
from the sale of any bonds, other than refunding bonds, may be used only to pay the cost of
acquiring, constructing, improving, enlarging and equipping the project with respect to which
they were issued, as may be specified in the indenture or the proceedings in which the bonds
are authorized to be issued. Such cost shall be deemed to include the following: the cost
of acquiring any interest in the land forming a part of the project; the cost of the labor,
materials and supplies used in any such construction, improvement or enlargement, including
architect's and engineer's fees and the cost of preparing contract documents and advertising
for bids; the purchase price of and the cost of installing equipment for the project, the
cost of landscaping the land forming a part of the project and of constructing and installing
roads, sidewalks, curbs, gutters, utilities and parking places in connection...
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