11-55-3
Section 11-55-3 Bonds - Form, terms, denominations, etc.; execution, sale, delivery, redemption, etc. All bonds issued by a municipality under authority of this chapter shall be limited obligations of the municipality, the principal of and interest on which shall be payable solely out of the revenues derived from the leasing of the project to finance which the bonds are issued. Bonds and interest coupons issued under authority of this chapter shall never constitute an indebtedness of the municipality within the meaning of any state constitutional provisions or statutory limitation and shall never constitute nor give rise to a pecuniary liability of the municipality or a charge against its general credit or taxing powers, and such fact shall be plainly stated in the face of each such bond. Such bonds may be executed and delivered at any time and from time to time, may be in such form and denominations, may be of such tenor, may be in registered or bearer form either as to principal or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-55-3.htm - 2K - Match Info - Similar pages
11-58-7
Section 11-58-7 Bonds - Form, terms, denominations, etc.; execution, sale, delivery, etc.; dissolution of corporation. (a) All bonds issued by a corporation organized under authority of this chapter shall be solely and exclusively obligations of the corporation and shall not create an obligation or debt of any municipality or county. No county or municipality shall pledge its faith or credit for the payment of any debt incurred or bonds issued by the corporation. (b) Bonds may be executed and delivered at any time and from time to time, may be in the form and denominations, may be of the tenor, may be in registered or bearer form, either as to principal or interest or both, may be payable in installments and at a time or times, not exceeding 40 years from their issuance date, may be payable at a place or places, may bear interest at a rate or rates payable at a place or places and evidenced in a manner, and may contain provisions not inconsistent with this chapter as may be provided by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-58-7.htm - 3K - Match Info - Similar pages
11-89B-1
Section 11-89B-1 Public corporation given power to sell and issue bonds, to pledge for payment proceeds, revenues, etc., and to issue bonds or notes for temporary borrowing. In addition to all other powers now or hereafter granted by law, each public corporation organized under the laws of the State of Alabama which is authorized by law (i) to operate a water system consisting of land, plants, systems, facilities, buildings and other property, or any combination of any thereof, which are used or useful or capable of future use in providing, furnishing, supplying or distributing water and (ii) to borrow money for use for one or more of its corporate purposes shall have the following powers, together with all powers incidental thereto or necessary to the discharge thereof in corporate form: (1) To sell and issue bonds of such public corporation in order to provide funds for any corporate function, use or purpose for which such public corporation is otherwise authorized by law to borrow...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-89B-1.htm - 3K - Match Info - Similar pages
23-1-175.1
Section 23-1-175.1 Infrastructure improvements. (a) In order to accomplish infrastructure improvements contemplated for the benefit of the Alabama State Docks, the Alabama Highway Finance Corporation shall have the following powers, in addition to all powers set forth in this article. (1) To borrow money and issue its bonds in evidence thereof, in a principal amount not to exceed one hundred fifty million dollars ($150,000,000), for the purpose of financing the widening and deepening of the Mobile Ship Channel and improvements related thereto. No bond issued by the corporation for this purpose shall have a specified maturity date later than twenty years after its issuance date. (2) To issue from time to time one or more series of refunding bonds for the purpose of refunding any bonds issued pursuant to subdivision (1) or bonds previously issued to refund such bonds, in any case, however, having a final maturity that is not later than the final maturity of the bonds being refunded. (3)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-1-175.1.htm - 3K - Match Info - Similar pages
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
39-2-4
Section 39-2-4 Filing of guaranties by bidders; prequalification procedures and criteria; responsibility of prequalified bidders; revocation of prequalification; rejection of bidder. (a) The bidder shall be required to file with his or her bid either a cashier's check drawn on an Alabama bank or a bid bond executed by a surety company duly authorized and qualified to make such bonds in the State of Alabama, payable to the awarding authority for an amount not less than five percent of the awarding authority's estimated cost or of the contractor's bid, but in no event more than ten thousand dollars ($10,000), except if the awarding authority is the Department of Transportation, then the bid guarantee shall not be more than fifty thousand dollars ($50,000). The bid guaranties as provided in this section shall constitute all of the qualifications or guaranty to be required of contractors as prerequisites to bidding for public works, except as required by the State Licensing Board for...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/39-2-4.htm - 4K - Match Info - Similar pages
41-10-469
Section 41-10-469 Use 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 resolution of the authority, shall be deposited in the State Treasury in an interest account to pay interest on refunding bonds, and in the State Treasury in a reserve account to further secure the payment of the principal of, premium, if any, and interest on any refunding bonds. The expenses authorized by this article shall include, in addition to expenses authorized by other sections hereof, all expenses that the board of directors may deem necessary or advantageous in connection with the sale and issuance of such refunding bonds, including without limitation, the expenses of selling and issuing such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-469.htm - 7K - Match Info - Similar pages
16-60-197
Section 16-60-197 Additional vocational trade schools authorized. The State Board of Education is hereby authorized, empowered and directed to establish and provide for the construction of three new vocational trade schools in this state in addition to the trade schools heretofore provided by law, to be located at such places as will make such schools conveniently accessible to all areas of Alabama. The cost of constructing such schools shall be paid out of the proceeds realized from any bonds issued and sold by the State Board of Education or any other authority of this state for the purpose of financing the construction of public school buildings or from any other funds made available for the construction of trade schools. The first $750,000.00 made available for expenditure on trade schools through the issuance and sale of bonds shall be allocated to the State Board of Education for the purpose of acquiring land, constructing buildings, reconstructing, altering and improving...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-60-197.htm - 1K - 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...
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41-16-123
Section 41-16-123 Provisions applicable to certain property held by division. This section shall apply only to that property that has been held by the division for a period of not less than 60 days from the date the property is first published in the list of surplus property, as set out in subsection (b) of Section 41-16-121, and not purchased by any eligible entity as set out in subsection (e) of Section 41-16-120 as follows: (1) All contracts made by or on behalf of the State of Alabama or a department, board, bureau, commission, institution, corporation, or agency thereof, of whatever nature for the sale or disposal of tangible personal property owned by the State of Alabama, other than the following: a. Alcoholic beverages. b. Products of the Alabama Institute for Deaf and Blind. c. Barter arrangements of the state prison system. d. Books. e. School supplies. f. Food. g. Property used in vocational projects. h. Livestock. i. Property owned by any state college or university,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-16-123.htm - 9K - Match Info - Similar pages
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