41-10-45.2
Section 41-10-45.2 Fund created; project obligations. (a) There is created the Accelerate
Alabama Fund, which may consist of monies appropriated or otherwise made available by the
Legislature in any manner, proceeds of project obligations issued by the authority, and monies
from any other source designated for deposit into such fund, but not including monies subject
to a constitutional designation for some other purpose. Unexpended amounts remaining in the
fund at the end of each fiscal year of the state shall not lapse into the State General Fund.
Any investment earnings or interest earned on amounts in the fund and all loan payments of
principal and/or interest shall be deposited to the credit of the fund. (b) In addition to
the purposes for which the authority may issue project obligations, the authority is hereby
authorized to issue project obligations to provide money for the fund. Project obligations
shall be issued as provided in Section 41-10-44.6, subject, however, to the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-45.2.htm - 3K - Match Info - Similar pages

41-10-44.6
Section 41-10-44.6 Project obligations generally. (a) Issuance of project obligations.
The authority is authorized and empowered to issue its project obligations from time to time
for the purpose of financing one or more projects in such aggregate principal amount as the
board of directors shall determine to be necessary to provide for all or a portion of the
project costs of the project or projects being financed and to pay the expenses of issuing
the project obligations. (b) Source of payment. All project obligations issued by the authority
shall be limited obligations of the authority payable solely from any combination of the following:
(1) The revenues and receipts of the authority derived from the financing agreement or agreements
entered into by the authority with respect to the project or projects financed by such project
obligations; (2) the income or proceeds realized by the authority under any mortgage or other
security granted to the authority; (3) amounts derived from any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-44.6.htm - 7K - Match Info - Similar pages

16-18A-4
Section 16-18A-4 Powers and duties. The purpose of the authority shall be to assist
institutions for higher education in the construction, financing and refinancing of the projects.
The exercise by the authority of the powers conferred by this chapter shall be deemed and
held to be the performance of an essential public function. For the purpose of this chapter,
the authority shall have the powers and duties set forth in this section. (1) To adopt
an official seal and alter the same at its pleasure. (2) To sue and be sued in contract and
in tort and to complain and defend in all courts of law and equity. (3) To maintain an office
at such place or places as it may designate. (4) To determine the location and character of
any project financed under this chapter, to acquire, construct, reconstruct, remodel, maintain,
manage, enlarge, alter, add to, repair, operate, lease as lessee or lessor, sell or otherwise
dispose of, any project in any manner it deems to the best advantage of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-18A-4.htm - 6K - Match Info - Similar pages

41-10-45.3
Section 41-10-45.3 Loans; maximum amount of project obligations; refinancing; investment
of funds. (a) The authority may provide loans to an eligible borrower to pay for all or part
of the eligible expenses of a qualifying project pursuant to a targeted county financing agreement.
A loan may have a maturity or maturities not exceeding 20 years from its date, may bear interest
or be interest free, may not exceed the maximum loan amount, and may contain terms not in
conflict with the provisions of this article, all as the governing body of the authority may
provide in the proceedings pursuant to which the loan is authorized to be issued. The authority
may provide, in its discretion, that the loan shall bear interest at a rate or rates fixed
at the time of the issuance thereof, or at fixed rates which may be changed from time to time
during the term of the loan in accordance with an objective procedure determined by the authority
at the time of the issuance of the loan, or at a floating...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-45.3.htm - 3K - Match Info - Similar pages

41-10-547
Section 41-10-547 Bonds of the authority. (a) The authority is authorized from time
to time to sell and issue its bonds for the purpose of financing project costs pertaining
to one or more projects or for the purpose of providing funds to pay training facility management
fees, or any combination of the foregoing including, without limitation, in the case of authority
obligations issued for the purpose of providing funds to pay training facility management
fees, costs, expenses, and other items of the type described in paragraphs g., h., i., and
j. of the definition of project costs in Section 41-10-541 or to enter into guaranty
agreements wherein the authority guarantees payment, in whole or in part, of debt service
referable to obligations issued by development agencies for the purpose of financing project
costs pertaining to one or more projects; provided, however, that the principal amount of
authority obligations shall not exceed three hundred million dollars ($300,000,000). For...

alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-547.htm - 9K - Match Info - Similar pages

11-92A-23
Section 11-92A-23 Special reserve funds and applications for appropriations. (a) In
addition to all other powers at any time conferred upon an authority by law, an authority
may, in connection with the issuance of any bonds hereunder, create and establish one or more
special debt service reserve funds (a "debt service reserve fund"), and may pay
or cause to be paid into each debt service reserve fund (i) proceeds from bonds issued pursuant
hereto to the extent provided by the authority authorizing the issuance thereof; (ii) any
moneys appropriated and made available by the Legislature for the purpose of such fund; and
(iii) any other moneys that may be made available to the authority from any other source for
the purpose of such fund. All moneys held in a debt service reserve fund shall be used solely
for the payment of the principal of, premium, if any, and interest on bonds secured, in whole
or in part, by that fund when and as the same become due and payable as provided in the...

alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-92A-23.htm - 7K - Match Info - Similar pages

16-18A-5
Section 16-18A-5 Revenue bonds - Issuance; negotiable, forms, terms, etc.; refunding
bonds; security. The authority shall have power and is hereby authorized from time to time
to provide by resolution for the issuance of negotiable revenue bonds for the purpose of paying
all or any part of the cost as herein defined of any of its projects. Such bonds may also
be issued to pay off, refund or refinance any outstanding bonds or other obligation of any
nature owed by the authority, whether or not such revenue bonds or other obligations shall
then be subject to redemption, and the authority may provide for such arrangements as it may
determine for the payment and security of the revenue bonds being issued or for the payment
and security of the revenue bonds or other obligations to be paid off, refunded or refinanced.
The principal, premium, if any, and interest of such revenue bonds shall be payable solely
from the revenues, receipts and earnings to be received by the authority in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-18A-5.htm - 5K - Match Info - Similar pages

16-65-6
Section 16-65-6 Bonds generally. (a) Issuance of bonds. The authority is authorized
and empowered to issue its bonds from time to time for the purpose of making equipment loans
to finance equipment costs incurred or to be incurred by educational institutions. Such bonds
may be in such aggregate principal amount as the board of directors shall determine to be
necessary to pay the equipment costs included in such financing. The authority may pay from
the proceeds of the sale of its bonds all expenses, including publication and printing charges,
attorneys' fees, financial advisory fees, and other expenses which the board of directors
may deem necessary or advantageous in connection with the authorization, advertisement, sale,
execution, and issuance of its bonds or the making of equipment loans from the proceeds thereof.
(b) Source of payment. All bonds issued by the authority shall be limited obligations of the
authority payable solely from any combination of the following: (1) The...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-65-6.htm - 7K - Match Info - Similar pages

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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-92A-16.htm - 3K - Match Info - Similar pages

23-1-313
Section 23-1-313 Bonds and notes - Disposition of proceeds from sale. The authority
shall pay out of the proceeds from the sale of the obligations authorized by this article
all expenses that the board of directors may deem necessary and advantageous in connection
with the sale and issuance thereof. The proceeds from the issue of any obligations authorized
by this article, (i) except the proceeds of bonds which were issued to pay principal and interest
of temporary bonds or notes and in anticipation of which such temporary bonds or notes shall
have been issued, and (ii) except the proceeds of refunding bonds issued to refund any outstanding
obligation, remaining after paying the expenses of their sale and issuance, shall be deposited
in the State Treasury, shall be credited to the Road and Bridge Fund and shall be subject
to be withdrawn by the authority, upon the approval of the State Department of Transportation
and the Governor, but only for the purpose of paying the federal share...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-1-313.htm - 3K - Match Info - Similar pages