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24-1A-41.1
Section 24-1A-41.1 Legislative intent. (a) In order to offset the adverse effects of the global
and national recession on Alabama's housing industry and its economic development activity
and to provide a boost to the state's housing industry and its economic development and industrial
recruitment, the Legislature adopted the Alabama Home Buyers Initiative Act, codified as Sections
24-1A-40 to 24-1A-43, inclusive, which established a mortgage guarantee fund to reimburse
investors for a portion of any foreclosure losses suffered as a result of purchasing qualified
mortgage loans on eligible properties located within the State of Alabama. (b) Pursuant to
the act, six million dollars ($6,000,000) was appropriated and irrevocably deposited in the
mortgage guarantee fund. The fund is held by the State Treasurer and administered by the Alabama
Housing Finance Authority, a public corporation and instrumentality of the State of Alabama.
(c) It is hereby found and determined that, due to...
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37-11A-1
Section 37-11A-1 Execution and text of compact. The Governor, on behalf of this state, shall
execute a compact, in substantially the following form, with the State of Mississippi, and
the Legislature approves and ratifies the compact in the form substantially as follows: Northeast
Mississippi - Northwest Alabama Railroad Authority Compact. The contracting states solemnly
agree: Article I. The purpose of this compact is to promote and develop trade, commerce, industry,
and employment opportunities for the public good and welfare in northeast Mississippi and
northwest Alabama through the establishment of a joint interstate authority to acquire certain
railroad properties and facilities which the operator thereof has notified the Interstate
Commerce Commission of an intention to abandon and which are located in any of Franklin, Marion,
or Winston Counties, Alabama or in Alcorn or Tishomingo Counties, Mississippi. Article II.
This compact shall become effective immediately as to the State...
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41-10-38
Section 41-10-38 Allocation formulae. (a) The state ceiling for calendar year 1989 and thereafter
is hereby allocated in its entirety to the state, and no other governmental unit, issuer,
or other entity of any type shall have or utilize any portion of the state ceiling for such
year except in accordance with this division. The state ceiling for calendar year 1989 and
thereafter shall be redistributed by the authority to issuers of affected bonds in the chronological
order of receipt of completed applications, subject to the limitations, reservations and further
provisions of this subsection. (1) There is hereby reserved for Alabama Housing Finance Authority
25 percent of the state ceiling for each calendar year, to be used for the issuance of exempt
facility bonds for qualified residential rental projects and for the issuance of qualified
mortgage bonds, in such relative principal amounts as shall be determined by the Board of
Directors of Alabama Housing Finance Authority. The...
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37-14-36
Section 37-14-36 Special rules for elimination of duplication. The separate agreements listed
below which have heretofore been entered into between, or negotiated between retail electric
suppliers, have been reviewed by the legislature, determined to be in the public interest
and found not to be inconsistent with the purposes and policies set forth in this article.
In areas to which these agreements are applicable, the procedures for elimination and prevention
of duplication of electric distribution facilities set forth in these agreements shall govern.
The following agreements are therefore mandated by the State of Alabama to be applicable:
(1) Agreement between Cherokee Electric Cooperative (successor to Cherokee County Electric
Membership Corporation) and Alabama Power Company dated June 5, 1940. (2) Agreement among
the City of Bessemer, Alabama, Alabama Power Company and the Tennessee Valley Authority dated
August 12, 1971. (3) Agreement between the City of Tarrant City, Alabama...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-14-36.htm - 5K - Match Info - Similar pages
33-13-9
Section 33-13-9 Bonds - Generally. There are hereby authorized to be issued bonds of the state
in aggregate principal amount not exceeding $45,000,000.00 for the purpose of paying costs
of the development, construction, improvements, expansion and modernization (or any of them)
of the State Docks Department at the Port of Mobile. The bonds hereby authorized shall be
general obligations of the state, and the full faith, credit and taxing powers of the state
are hereby irrevocably pledged for the prompt and faithful payment of the principal thereof
and the interest thereon. The bonds may be sold from time to time as the board of directors
may deem advantageous; provided, that no bonds (other than refunding bonds) may be sold or
issued unless the Governor shall have first determined that the issuance of the bonds proposed
to be issued will be necessary to enable the authority to promote, develop, construct, improve,
expand and modernize the state docks facilities. Except as hereinafter...
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11-1-10
Section 11-1-10 Contracts with federal, state, and other county governments. (a) The county
commission in addition to all other powers and authority is hereby authorized and empowered
to enter into contracts, leases, compacts, or any other form of agreement with the United
States of America or any of its agencies, departments, bureaus, divisions, or institutions,
with the State of Alabama or any of its agencies, departments, bureaus, divisions, or institutions
and with any other county or municipality within or without the state for the purpose of receiving
or acquiring funds, matching funds, services, materials, supplies, buildings, structures,
waterways and docking facilities, and any and all other benefits deemed for the public interest
in the promotion of industrial, agricultural, recreational, or any other beneficial development.
(b) The contracts, leases, compacts, or other forms of agreement may contain such covenants
and considerations as considered reasonable and necessary and...
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37-14-8
Section 37-14-8 Exemptions. The separate agreements listed below which have heretofore been
entered into between, or negotiated between retail electric suppliers, have been reviewed
by the legislature, determined to be in the public interest and found not to be inconsistent
with the purposes and policies set forth in this article. In areas to which these agreements
are applicable, the procedures for elimination and prevention of duplication of electric distribution
facilities set forth in these agreements shall govern. The following agreements are therefore
mandated by the State of Alabama to be applicable: (1) Agreement between Cherokee Electric
Cooperative (successor to Cherokee County Electric Membership Corporation) and Alabama Power
Company dated June 5, 1940. (2) Agreement among the City of Bessemer, Alabama, Alabama Power
Company and the Tennessee Valley Authority dated August 12, 1971. (3) Agreement between the
City of Tarrant City, Alabama and Alabama Power Company dated June...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-14-8.htm - 3K - Match Info - Similar pages
41-10-36
Section 41-10-36 Definitions. Unless the context requires otherwise, the terms defined in this
section shall have the following meanings for purposes of this division: (1) AFFECTED BOND.
Any obligation or portion thereof which is required under the terms of the code to receive
an allocation of the state ceiling as a condition for the exclusion of interest on such obligation
from the gross income of the recipient thereof for federal income tax purposes. (2) ALLOCATION.
An allocation of a portion of the state ceiling issued by the authority pursuant to the provisions
of this division. (3) APPLICATION. An application for an allocation, submitted by an issuer
under the provisions of this division. (4) APPLICATION FOR CARRYFORWARD ALLOCATION. Any application
filed with the authority seeking an elective carryforward of unused limitation for a "carryforward
purpose" as defined in Section 146(f)(5) of the code. (5) AUTHORITY. The State Industrial
Development Authority, a public corporation of...
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45-39A-11.04
Section 45-39A-11.04 Civic Center Authority - Construction, maintenance, etc., of civic center;
powers. (a) The authority shall be authorized to construct, maintain, control, operate, and
manage a civic center in the City of Florence. The authority shall be authorized to construct,
maintain, control, operate, and manage all or any of the following to be situated in the civic
center: Buildings to provide offices to be used by the State of Alabama or by any agency,
subdivision, or public corporation thereof or by the county or by one or more municipalities
thereof for any municipal purpose otherwise authorized by law and buildings to house or accommodate
public facilities of the State of Alabama or of any agency, subdivision, or public corporation
thereof or of the county or of any one or more of the municipalities for any municipal purpose
otherwise authorized by law; streets, boulevards, walkways, parkways, and parks; monuments,
statues, and other structures beautifying the civic...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-39A-11.04.htm - 5K - 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...
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