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11-89B-6
Section 11-89B-6 Investment of bond proceeds. The proceeds of any such bonds issued by such
public corporation and moneys held in any special fund established by such public corporation
in connection with the issuance of any of its bonds may be invested in any direct obligations
of the United States of America, the obligations of any agency of the United States of America,
interest bearing bank deposits, or in any securities the payment of the principal of and interest
on which is fully secured by direct obligations of the United States of America or in any
obligations in which municipal or county funds are authorized to be invested pursuant to Section
11-81-21. (Acts 1991, No. 91-551, p. 1015, §6.)...
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11-97-10
Section 11-97-10 Security for payment of bonds; contracts and agreements to secure. (a) Bonds
issued by any corporation may, as its board may deem advisable, be either general obligations
of such corporation or limited obligations payable only out of certain specified revenues
or assets of such corporation; provided, that any corporation may enter into contracts with
the holders of any of its bonds preventing such corporation from thereafter issuing general
obligation bonds or limiting the amount of such bonds that may thereafter be issued. To the
extent permitted by any contracts with the holders of outstanding bonds and any other contractual
obligations or requirements, any corporation may pledge any of its revenues or mortgage or
assign any of its assets, whether real or personal and whether tangible or intangible, to
secure the payment of any of its bonds. (b) As security for payment of the principal of and
the interest and premium, if any, on any bonds issued or assumed by it, any...
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11-3-14
Section 11-3-14 Disposition of funds from special tax levy. The county commission may deposit
any funds arising from any special tax levied to pay bonds issued by said county which are
in excess of amounts then payable on said bonds in some solvent savings bank in the State
of Alabama in the name of the county or invest the same in interest-bearing securities issued
by the United States government or by the State of Alabama. The interest accruing on such
deposit or from such securities shall be a part of such special fund and shall be devoted
to the same uses as the principal of said fund. The county commission shall require adequate
bond of said bank to secure the safety of said deposit, which bond shall be in such sum as
such county commission shall fix, having due regard to the safety of county funds. (Acts 1923,
No. 509, p. 680; Code 1923, §6756; Code 1940, T. 12, §15.)...
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40-18-35
Section 40-18-35 Deductions allowed to corporations. (a) The following items shall be deducted
from federal taxable income for purposes of computing taxable income under this chapter: (1)
Refunds of state and local income taxes. (2) Federal income tax paid or accrued during the
taxpayer's taxable year. The portion of federal income tax deductible by a corporation earning
income from sources both inside and outside of Alabama shall be determined by the ratio that
the corporation's taxable income, computed without the deduction for federal income tax, apportioned
and allocated to Alabama bears to the corporation's taxable income, computed without the deduction
for federal income tax, apportioned and allocated everywhere. (3) Interest income earned on
obligations of the United States. (4)a. Interest income earned on obligations of the State
of Alabama or its subdivisions or instrumentalities thereof to the extent included in gross
income for the purposes of federal income taxation. b....
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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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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...
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11-81-169
Section 11-81-169 Revenue bonds - Disposition of proceeds from sale - Generally. The governing
body, where practicable, shall require that the proceeds of the sale of bonds issued under
the provisions of this article be deposited in a special account or accounts in a bank or
banks which are members of the federal reserve system and shall require, insofar as practicable,
that each such deposit be secured by United States government securities having an aggregate
market value at least equal to the sum at the time on deposit, or, in any event, the proceeds
shall be deposited in some bank or other depository either within or without the state which
will secure such deposit satisfactorily to said governing body. (Acts 1933, Ex. Sess., No.
102, p. 88; Code 1940, T. 37, §320.)...
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23-1-181
Section 23-1-181 Appropriations and pledges of revenue for payment of principal and interest
on bonds; sinking fund. (a) Where used in this section the following words and terms shall
be given the following respective meanings: (1) BONDS. Such term, without qualifying words
or phrases, means bonds of the corporation issued under this article. (2) CODE. The Code of
Alabama, 1975. (3) CORPORATION. Alabama Highway Finance Corporation, a public corporation
and instrumentality of the State of Alabama that was organized and is existing under this
article. (4) GASOLINE TAX APPROPRIATION STATUTE. Section 40-17-359. (5) HIGHWAY GASOLINE TAX.
a. The excise tax levied in subdivision (1) of subsection (a) of Section 40-17-325, exclusive
of those portions of the tax in respect of aviation fuel and marine gasoline, as those terms
are used in the section; and b. The excise tax levied by Article 3 of Chapter 17 of Title
40, exclusive of that portion of the tax in respect of diesel fuel. (6) NET...
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5-13B-111
Section 5-13B-111 Asset maintenance. (a) Each foreign bank which is licensed to establish and
maintain an Alabama state branch or Alabama state agency shall hold in this state currency,
bonds, notes, debentures, drafts, bills of exchange, or other evidences of indebtedness, including
loan participation agreements or certificates, or other obligations payable in the United
States or in United States funds or, with the prior approval of the superintendent, in funds
freely convertible into United States funds, or such other assets as the superintendent shall
by regulation or order permit, in an amount which shall bear such relationship as the superintendent
shall by regulation or order prescribe to liabilities of such foreign bank payable at or through
its Alabama state branch or Alabama state agency, including acceptances, but excluding amounts
due and other liabilities to other offices, agencies, or branches of, and wholly owned, except
for a nominal number of directors' shares,...
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11-101A-20
Section 11-101A-20 Investments. (a) To the extent permitted by the contracts of the authority
with the holders of its securities and if not otherwise specifically prohibited by any other
provision of this chapter, the authority may invest any portion of the principal proceeds
derived from the sale of any of its securities which is not then needed for any of the purposes
for which the securities were authorized to be issued, the moneys held in any special fund
created pursuant to any resolution or indenture authorizing or securing any of its securities,
and any other moneys of the authority not then needed by it, in any of the following: (1)
Federal securities. (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. (4) Money market funds whose investments are restricted to federal
securities. (5) Repurchase agreements with respect to federal securities....
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