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16-16A-9
Section 16-16A-9 Disposition of funds. (a) The proceeds derived from each sale of the Bonds
issued pursuant to this chapter shall be deposited in the State Treasury and shall be carried
in a separate fund therein for the account of the Authority, which shall pay the expenses
of issuance therefrom. The expenses of issuance of the Bonds shall be prorated among the recipients
of the proceeds from the sale of the Bonds in proportions they receive allocations of the
proceeds thereunder. The proceeds from the sale of the Bonds remaining after payment of the
expenses of issuance thereof shall be retained in said fund and, until they are paid out,
shall be invested by the State Treasurer at the direction of the Authority in Permitted Investments
maturing at such time or times as the Authority shall direct. (b) Proceeds from the sale of
the Bonds and the earnings thereon shall be paid out from time to time on orders or warrants
issued by or at the direction of the Authority for any one or more...
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16-16B-9
Section 16-16B-9 (Implementation Conditioned on Separate Legislative Enactment.) Use of bond
proceeds. (a) The proceeds derived from each sale of the Bonds issued pursuant to this chapter
shall be deposited in the State Treasury and shall be carried in a separate fund therein for
the account of the Authority, which shall pay the expenses of issuance therefrom. The expenses
of issuance of the Bonds shall be prorated among the recipients of the proceeds from the sale
of the Bonds in proportions they receive allocations of the proceeds thereunder. The proceeds
from the sale of the Bonds remaining after payment of the expenses of issuance thereof shall
be retained in said fund and, until they are paid out, shall be invested by the State Treasurer
at the direction of the Authority in Permitted Investments maturing at such time or times
as the Authority shall direct. (b) Proceeds from the sale of the Bonds and the earnings thereon
shall be paid out from time to time on orders or warrants...
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33-2-72
Section 33-2-72 Refunding bonds. The state may at any time and from time to time issue refunding
bonds for the purpose of refunding the principal of and the interest on any matured or unmatured
bonds of the state then outstanding which were theretofore issued under any one or more of
this article, or the 1957 Docks Act, or the 1959 Docks Act. The proceeds derived from the
sale of such refunding bonds shall be paid to the State Treasurer and disbursed on order or
resolution of the department solely to refund and retire those bonds for the refunding of
which such refunding bonds are authorized to be issued, and to pay the expenses incurred in
such refunding; provided, that pending the time such refunding can be consummated such proceeds
may be invested as herein authorized. All provisions of this article pertaining to bonds issued
under this article that are not inconsistent with the provisions of this section shall, to
the extent applicable, also apply to the refunding bonds issued...
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41-10-626
Section 41-10-626 Bonds of the authority. (a) General. The authority is authorized from time
to time to sell and issue its bonds in limited amounts and for the purpose of promoting economic
development and industrial recruitment as specified by the Legislature from time to time by
separate act, provided that refunding bonds may be issued by the authority pursuant to Section
41-10-627 without first obtaining separate authorization from the Legislature. (b) Sources
of payment. Bonds issued by the authority shall be solely and exclusively an obligation of
the authority and shall not create an obligation or debt of the state. Such bonds shall not
be general obligations of the authority but shall be payable solely from one or more of the
following sources: (1) Appropriated funds. (2) The income or proceeds realized by the authority
under any mortgage or security granted to the authority. (3) Amounts derived from any letter
of credit, insurance policy, or other form of credit enhancement...
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41-10-755
Section 41-10-755 Bonds of the authority. (a) General. The authority is authorized from time
to time to sell and issue its bonds for the purpose of providing funds to be transferred to
and deposited in the Alabama Trust Fund and the Rainy Day Account, to provide additional funds
to the Alabama Medicaid Agency, for paying the costs of transportation projects, and for the
purpose of refunding any or all of the authority's outstanding bonds. (b) Sources of payment.
Bonds issued by the authority shall be solely and exclusively an obligation of the authority
and shall not create an obligation or debt of the state. Such bonds shall not be general obligations
of the authority but shall be payable solely from one or more of the following sources: (1)
Appropriated funds. (2) The income or proceeds realized by the authority under any mortgage
or security granted to the authority. (3) Amounts derived from any letter of credit, insurance
policy, or other form of credit enhancement applicable to...
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22-23B-2
Section 22-23B-2 Definitions. The following words and phrases, whenever used in this chapter,
shall have the following respective meanings unless the context clearly indicates otherwise:
AUTHORITY. The corporation organized pursuant to the provisions of this chapter as a public
corporation, agency and instrumentality of the state and known as the "Alabama Drinking
Water Finance Authority." AUTHORIZING RESOLUTION. A resolution, order or other proceedings
adopted by the board of directors of the authority authorizing the issuance of bonds, agreements
and related matters. BOARD OF DIRECTORS. The board of directors of the authority. BOND PROCEEDS.
The net proceeds of sale of bonds or notes, and the income derived from the investment of
such proceeds. BONDS. The bonds, notes or obligations or other evidences of indebtedness issued
by the authority under the provisions of this chapter. DEPARTMENT. The Alabama Department
of Environmental Management or any successor. FEDERAL ACT. The Act of...
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11-57-22
Section 11-57-22 Investment of funds of authorities. Any portion of the principal proceeds
derived from the sale of the bonds which the board may determine is not presently needed for
any of the purposes for which the bonds are authorized to be issued and any other moneys of
the authority which the board may determine will not be presently needed by the authority
may, on order of the board, be invested in any securities that are direct obligations of the
United States of America or the principal of and interest on which are unconditionally and
irrevocably guaranteed by the United States of America. Any securities in which any such investment
is made may, at any time and from time to time on order of the board, be sold or otherwise
converted into cash. The income derived from any such investments shall be disbursed on order
of the board for any purpose for which the authority may lawfully expend funds. (Acts 1961,
No. 895, p. 1407, §17; Acts 1961, Ex. Sess., No. 289, p. 2335, §17.)...
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22-21-152
Section 22-21-152 Investment of funds. (a) Any portion of the principal proceeds derived from
the sale of the bonds which the board may determine is not presently needed for any of the
purposes for which the bonds are authorized to be issued, and any other moneys of the authority
which the board may determine will not be presently needed by the authority may, on order
of the board, be invested in: (1) Any securities that are direct general obligations of the
United States of America or the principal of and interest on which are unconditionally and
irrevocably guaranteed by the United States of America; (2) Any debt securities that are direct
obligations of any agency of the United States of America; (3) Interest-bearing bank time
deposits and interest-bearing bank certificates of deposit; and (4) Interest-bearing time
deposits and interest-bearing certificates of deposit of any federally-chartered savings and
loan association. (b) Any securities, time deposits or certificates of...
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9-14A-16
Section 9-14A-16 Refunding bonds. Pursuant to the provisions of the aforesaid amendment and
this chapter, the corporations 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 corporations, 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...
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22-34-1
Section 22-34-1 Definitions. The following words and phrases, whenever used in this chapter,
shall have the following respective meanings unless the context clearly indicates otherwise:
(1) AUTHORITY. The corporation organized pursuant to the provisions of this chapter as a public
corporation, agency and instrumentality of the state and known as the "Alabama Water
Pollution Control Authority." (2) AUTHORIZING RESOLUTION. A resolution or order adopted
by the board of directors of the authority authorizing the issuance of bonds by the authority
pursuant to this chapter or by a public body. (3) BOARD OF DIRECTORS. The board of directors
of the Alabama Water Pollution Control Authority. (4) BONDS. The "Water Pollution Control
Bonds," notes or obligations or other evidence of indebtedness issued by the authority
under the provisions of this chapter. (5) BOND PROCEEDS. The direct proceeds of sale of bonds
or notes, and the income derived from the investment of such proceeds. (6) DEPARTMENT....
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