5-2A-7
Section 5-2A-7 Superintendent - Expansion of banking powers; rules and regulations. (a) The Legislature finds as fact and determines that the financial industry composed of those banks and savings and loan associations having their principal place of business in Alabama must keep pace with technological and other improvements constantly being made throughout the United States so as to enable Alabama banks and savings and loan associations to render better and more efficient services to the citizens of Alabama. It is necessary and desirable that the superintendent be given additional authority in these fields. (b) The superintendent is hereby authorized to expand banking powers of Alabama banks or the powers of Alabama savings and loan associations in order to: (1) Accommodate or take advantage of changing technologies; and (2) Assure the ability of Alabama banks and Alabama savings and loan associations to be responsive in their respective businesses to the needs and conveniences...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-2A-7.htm - 3K - Match Info - Similar pages
10A-20-15.01
Section 10A-20-15.01 Rights, powers, and authority. All corporations organized under the general laws of this state, or heretofore under a special act of the Legislature, and all corporations organized under the laws of any other of the United States which have complied with the Constitution and laws of the State of Alabama as to foreign corporations and which by their charter have the right to manufacture, supply, and sell to the public power produced by water as a motive force, shall, after acquiring by purchase, or otherwise than by condemnation, a dam site or power site comprising not less than one acre of land upon each and opposite sides of any watercourse or after acquiring by purchase, or otherwise than by condemnation, a dam site comprising not less than one acre of land upon one side of any watercourse and, where the dam site on the other side of the watercourse is owned or controlled by the United States, shall have acquired the permission of the United States to attach to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-20-15.01.htm - 9K - Match Info - Similar pages
41-29-2
Section 41-29-2 Powers, duties, and functions of Department of Commerce. (a) The Department of Commerce shall be the principal staff agency of the executive branch to plan with the other departments of state government and with other governmental units for the comprehensive development of the state's human, economic and physical resources and their relevance for programs administered by the state and the governmental structure required to put such programs into effect. It shall provide information, assistance and staff support by all appropriate means. The Department of Commerce shall perform all the duties and exercise all the powers and authority relative to state regional and local planning and industrial development heretofore vested in the Alabama Development Office. All books, records, supplies, funds, equipment, and personnel of the Alabama Development Office are also hereby transferred to the Department of Commerce. (b) All of the powers and authority heretofore vested in the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-29-2.htm - 4K - Match Info - Similar pages
37-16-2
Section 37-16-2 Legislative findings. (a) The Legislature finds and declares the following: (1) More advanced communication capabilities, broadband facilities, and services are needed in many rural and underserved areas of the state. (2) Electric providers in those rural and underserved areas are capable of providing infrastructure for such advanced communications capabilities and providing, directly or indirectly, broadband facilities or services. (3) The investment in and development of advanced communications capabilities for providing broadband facilities and services are necessary to better serve the public in those rural and underserved areas. (4) The continued lack of advanced communication capabilities, broadband facilities, and services in rural and underserved areas deprives citizens residing in these areas from access to opportunities such that the state needs to take action to correct and eliminate these discrepancies. (5) It is the public policy of this state to encourage...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-16-2.htm - 2K - Match Info - Similar pages
11-54-88
Section 11-54-88 Additional powers as to pollution control facilities. (a)(1) In addition to all other powers at any time conferred on them by law, each industrial development board shall have the following powers: a. To acquire, whether by construction, purchase, exchange, gift, lease, or otherwise and to enlarge, improve, replace, equip, and maintain one or more pollution control facilities, including all real and personal properties deemed necessary or desirable in connection therewith, including the sale and issuance of bonds for any of the said purposes; b. To lease to others and otherwise dispose of all or any portion of any pollution control facility; and c. To exercise with respect to any pollution control facility and each part thereof any and all powers that are conferred on industrial development boards by other provisions of this division. Each pollution control facility so acquired by any industrial development board may be a part of another project or may constitute a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54-88.htm - 4K - Match Info - Similar pages
23-1-50.1
Section 23-1-50.1 Road machinery and equipment management program; Equipment Management Surplus Reserve Account. (a) It is the intent of the Legislature to give the State Department of Transportation authority to accumulate depreciation, equipment replacement allowances, and salvage value on road machinery and equipment sufficient to upgrade, replace, or make extraordinary repairs to the road machinery and equipment of the State Department of Transportation, as determined by a road machinery and equipment management program to be developed by the department. (b) Unless the context clearly indicates otherwise, the following words and phrases will have the following meanings: (1) STATE DEPARTMENT OF TRANSPORTATION DIVISIONS. Those divisions of the Department of Transportation responsible for road construction and maintenance over a specified geographic area of the state. (2) DEPRECIATION. That process of allocating the original cost per fixed asset over the productive life of the asset...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-1-50.1.htm - 7K - Match Info - Similar pages
41-10-621
Section 41-10-621 Legislative findings and purpose. (a) The Legislature finds and declares the following: (1) The State of Alabama has a great need from time to time to have access to financing for economic development and industrial recruitment that does not involve improvements to revenue-producing facilities. (2) It is desirable and in the public interest to establish a state-level authority with the power to issue bonds for such general purposes. (3) The Alabama Supreme Court has held, in effect, that only when the debt of a public corporation is payable out of a new revenue source will such debt not be considered a debt of the state in contravention of Section 213 of the Constitution of Alabama of 1901; the State of Alabama expects to receive in the near future new revenues from the settlement of certain litigation between the state and the tobacco industry. (4) By the passage of this division, it is the intention of the Legislature to: a. Provide for the creation of a special...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-621.htm - 2K - Match Info - Similar pages
11-97-1
Section 11-97-1 Legislative declarations and findings. It is hereby found and declared as follows: (1) That the health, safety, and welfare of the people of this state require the provision of certain utility services, including water and sewer services; (2) That it is necessary for the Legislature to provide additional methods by which the cities and counties in the state may provide new and improve existing utility services facilities; (3) That historically a significant portion of the funding of the costs of construction of such utility services facilities has been provided through grants from the United States of America; (4) That, in recent years, funds available to cities and counties from the United States of America for payment of costs of construction of utility services facilities has been substantially reduced, and it is anticipated that, in coming years, such funds may be further reduced or eliminated; (5) That the result of the elimination of funding from the United States...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-97-1.htm - 3K - Match Info - Similar pages
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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45-46-90.15
Section 45-46-90.15 Freedom of authority from state supervision and control. This article is intended to aid the state in the execution of its duties by providing appropriate and independent instrumentalities of the state with full and adequate powers to fulfill their functions. Except as otherwise provided in this article, no proceeding, notice, or approval shall be required for the incorporation of any authority or the amendment of its certificate of incorporation, the acquisition of any inland commercial or industrial facility or any dock or port facilities or any other facilities or other property used in connection with or related to commerce on the inland waterways traversing Marengo County or any municipality in the county, or the issuance of any bonds, mortgages, and deeds of trust, or trust indentures. The authority, all property of the authority, and the fees, tolls, rents, and other charges for the use of such property or for any services therefrom, shall be exempt from all...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-46-90.15.htm - 1K - Match Info - Similar pages
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