11-92A-12
Section 11-92A-12 Powers of authority. An authority shall have the following powers, which
it may exercise in any county within such authority's authorized operational area: (1) To
have succession by its corporate name until dissolved as provided in this chapter; (2) To
institute and defend legal proceedings in any court of competent jurisdiction and proper venue;
provided, however, that an authority may not be sued in any trial court other than the courts
of a county within the authorized operational area of the authority; provided, further, that
the officers, directors, agents, and employees of an authority may not be sued for their actions
in behalf of the authority except for actions that are known by such person to be unlawful
or are performed with reckless disregard for the lawfulness of such actions; (3) To have and
to use a corporate seal and to alter the seal at its pleasure; (4) To establish a fiscal year;
(5) To anticipate by the issuance of its bonds the receipt of any...
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14-2-30
Section 14-2-30 Facilities - Leasing - County, municipal corporation, agency of federal government,
etc. If at any time any facility constructed by the authority is, or is about to be, vacant
or unused as a result of there being no lease for such facility in effect for the current
fiscal year, then, but only in such event, in order to prevent default on its bonds, the authority
is hereby authorized to lease such facility to any other agency, department, bureau or commission
of the state, any municipal corporation, public corporation, county, or other public body
in the state, or any agency of the federal government other than the original lessee of said
facility. Any such lease shall not be for the purpose of lending public credit but shall be
solely to avoid default on the authority's bonds and to insure the prompt payment of the principal
thereof and interest thereon when due. (Acts 1965, No. 678, p. 1226, §25; Acts 1985, 1st
Ex. Sess., No. 85-125, p. 187, §14.)...
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24-1-6
Section 24-1-6 Establishment of rentals and tenant selection in low rent housing projects.
(a) It is declared to be the policy of this state that each housing authority shall manage
and operate its low rent housing projects in an efficient manner so as to enable it to fix
the rentals for dwelling accommodations at the lowest possible rates consistent with its providing
decent, safe, and sanitary dwelling accommodations for persons of low income, and that no
housing authority shall construct or operate any such project for profit, or as a source of
revenue of the city or town. To this end a housing authority shall fix the rentals for such
dwellings in its low rent housing projects at no higher rates than it shall find to be necessary
in order to produce revenues which, together with all other available moneys, revenues, income,
and receipts of such authority from whatever sources derived, including federal financial
assistance necessary to maintain the low rent character of the...
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40-21-123
Section 40-21-123 Dispositions of proceeds of tax. The tax herein levied shall be collected
and administered in accordance with the procedure set forth in Section 40-21-85, and for those
purposes the provisions of Section 40-21-85 are hereby incorporated into this section by reference.
All tax revenue and other funds received or collected under subsection (a) of Section 40-21-121
shall be deposited into the State Treasury and used for the following purposes: (1) So much
thereof as necessary is hereby appropriated to be used by the State Treasurer to pay at their
respective maturities the principal and interest due in the fiscal year on the outstanding
bonds issued by the Alabama Revolving Loan Fund Authority. (2) Beginning in March of 2002,
one-third of the remaining proceeds, plus $1 million in the fiscal year ending September 30,
2002, and $1.5 million each fiscal year thereafter, shall be credited to the Education Trust
Fund. (3) The residual balance thereof remaining shall be...
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41-10-325
Section 41-10-325 Lease of vacant facilities to prevent default on bonds. If at any time any
facility constructed or acquired by the authority is, or is about to be, vacant or unused
as a result of there being no lease for such facility in effect for the current fiscal year,
then, but only in such event, in order to prevent default on its bonds, the authority is hereby
authorized to lease such facility to any other agency, department, bureau or commission of
the state, any municipal corporation, public corporation, county, or other public body in
the state, or any agency of the federal government. Any such lease shall not be for the purpose
of lending public credit but shall be solely to avoid default on the authority's bonds and
to insure the prompt payment of the principal thereof and interest thereon when due. (Acts
1986, No. 86-546, p. 1093, §26.)...
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41-29-504
Section 41-29-504 Details respecting the bonds. The bonds of the authority shall be signed
by its president and attested by its secretary, and the seal of the authority shall be affixed
thereto or a facsimile of such seal shall be printed or otherwise reproduced thereon; provided,
that: (a) a facsimile of the signature of one, but not both, of the officers may be printed
or otherwise reproduced on any such bonds in lieu of being manually subscribed thereon, and
(b) a facsimile of the signatures of both of the officers may be printed or otherwise reproduced
on such bonds in lieu of being manually affixed thereof if the authority, in its proceedings
with respect to issuance of the bonds, provides for manual authentication of such bonds and
the secretary designates a trustee or paying agent or named individuals who are employees
of the state and who are assigned to the finance department or the state treasurer's office
of the state to authenticate the bonds. Any bonds of the authority may...
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41-10-515
Section 41-10-515 Leasing to county, municipal corporation, agency of federal government, etc.
If at any time any facility constructed or acquired by the authority is, or is about to be,
vacant or unused as a result of there being no lease for such facility in effect for the current
fiscal year, then, but only in such event, in order to prevent default on its bonds, the authority
is hereby authorized to lease such facility to any other agency, department, bureau or commission
of the state, any municipal corporation, public corporation, county, or other public body
in the state, or any agency of the federal government, and lastly, and in no other order of
priority, to a private person, firm or corporation. Any such lease shall not be for the purpose
of lending public credit but shall be solely to avoid default on the authority's bonds and
to insure the prompt payment of the principal thereof and interest thereon when due. (Acts
1990, No. 90-603, p. 1094, §26.)...
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11-20-38
Section 11-20-38 Bonds - Form, terms, denominations, etc.; execution, sale, delivery, redemption,
etc.; refunding of bonds. All bonds issued by the corporation shall be payable solely out
of the revenues and receipts derived from the leasing or sale by the corporation of its projects
or of any thereof as may be designated in the proceedings of the board of directors under
which the bonds shall be authorized to be issued. Such bonds may be executed and delivered
by the corporation at any time and from time to time, may be in such form and denominations
and of such tenor and maturities, may be in registered or bearer form either as to principal
or interest or both, may be payable at such time or times, not exceeding 40 years from the
date thereof, may be payable at such place or places whether within or without the State of
Alabama, may bear interest at such rate or rates payable at such time or times and at such
place or places and evidence in such manner, may be executed by such...
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11-54-89
Section 11-54-89 Bonds - Form, terms, denominations, etc.; execution, sale, delivery, redemption,
etc.; refunding of bonds. All bonds issued by the industrial development board shall be payable
solely out of the revenues and receipts derived from the leasing or sale by the board of its
projects or of any thereof as may be designated in the proceedings of the board of directors
under which the bonds shall be authorized to be issued. Such bonds may be executed and delivered
by the board at any time and from time to time, may be in such form and denominations and
of such tenor and maturities, may be in registered or bearer form either as to principal or
interest or both, may be payable in such installments and at such time or times, not exceeding
40 years from the date thereof, may be payable at such place or places whether within or without
the State of Alabama, may bear interest at such rate or rates payable at such time or times
and at such place or places and evidenced in such manner,...
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11-60-9
Section 11-60-9 Bonds - Form, terms, denominations, etc.; execution, sale, delivery, redemption,
etc.; refunding of bonds. All bonds issued by the corporation shall be payable solely out
of the revenues and receipts derived from the operation, leasing or sale by the corporation
of its projects or of any thereof as may be designated in the proceedings of the board of
directors under which the bonds shall be authorized to be issued. Such bonds may be executed
and delivered by the corporation at any time and from time to time, may be in such form and
denominations and of such tenor and maturities, may be in registered or bearer form either
as to principal or interest or both, may be payable at such time or times, not exceeding 40
years from the date thereof, may be payable at such place or places whether within or without
the State of Alabama, may bear interest at such rate or rates payable at such time or times
and at such place or places and evidenced in such manner, may be executed by...
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