2-3A-30
Section 2-3A-30 Issuance of bonds; obligation of state; proceeds; specifications. In order
to implement Constitutional Amendment 618 authorizing the issuance by the state of $52,000,000
in principal amount of its general obligation bonds, which amendment was proposed by Act 98-378
of the 1998 Regular Session of the Legislature, the Alabama Agricultural Development Authority
shall, in addition to all other powers that may be exercised by said authority, have the power
to issue and sell for the state, subject to the approval of the Governor, interest bearing
general obligation bonds of the state not in excess of $52,000,000 in principal amount, as
authorized by said amendment. Such bonds shall not be obligations of said authority but shall
be general obligations of the State of Alabama with the full faith and credit and taxing power
of the state to be pledged to the prompt and faithful payment of the principal thereof and
the interest and redemption premium (if any) thereon. The proceeds...
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2-3A-50
Section 2-3A-50 Issuance of bonds; obligation of state; proceeds; specifications. In order
to implement Constitutional Amendment 619 authorizing the issuance by the state of five million
seven hundred thousand dollars ($5,700,000) principal amount of its general obligation bonds,
which amendment was proposed by Act 98-412 of the 1998 Regular Session of the Legislature,
the Alabama Agricultural Development Authority shall, in addition to all other powers that
may be exercised by said authority, have the power to issue and sell for the state, subject
to the approval of the Governor, interest bearing general obligation bonds of the state not
in excess of five million seven hundred thousand dollars ($5,700,000) in principal amount,
as authorized by said amendment. Such bonds shall not be obligations of said authority but
shall be general obligations of the State of Alabama with the full faith and credit and taxing
power of the state to be pledged to the prompt and faithful payment of the...
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16-3-28
Section 16-3-28 Authority of board and trustees of institutions to borrow from federal agencies
or others; issuance of bonds, notes and other securities. (a) The State Board of Education,
acting for the respective educational institutions under its supervision, and each public
corporation that conducts one or more state educational institutions under its supervision,
acting through its board of trustees or other governing body, are hereby separately authorized
to exercise and perform any or all of the following powers: (1) To borrow money from the United
States of America or any department or agency thereof, or from any person, firm, corporation
or other lending agency for the purchase, construction, enlargement or alteration of any buildings
or other improvements, including dormitories, dining halls, classrooms, laboratories, libraries,
stadiums, administration buildings and any other buildings and appurtenances thereto suitable
for use by the institution with respect to which the...
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11-50-526
Section 11-50-526 Bonds - Sale or issuance generally. The corporation may issue bonds at any
time and from time to time as the board may determine to be most advantageous for the purpose
of paying the purchase price of and all expenses incurred in connection with the acquisition
of any properties or other assets of the corporation and for the purpose of furnishing adequate
working capital for the corporation. Such bonds shall be revenue bonds payable solely out
of the revenues derived from the operation of all or any part of any utility owned by the
corporation as may be provided at the time of the authorization of such bonds. All bonds shall
be signed by such officer or officers as the board may direct, but the facsimile of any signature
may be impressed on any interest coupons in lieu of the original signature. The bonds shall
be in such form, whether registered or bearer, shall be in such denominations, shall bear
such dates and have such maturities not exceeding 40 years from their...
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11-86A-14
Section 11-86A-14 Execution of bonds and interest coupons; form, terms, denominations, etc.,
of bonds; validation of bonds; sale; refunding bonds. (a) Bonds of an authority shall be signed
by the chair and attested by the secretary, the seal of the authority shall be affixed thereto,
and any interest coupons applicable to the bonds shall be signed by the chair; provided that
a facsimile of the signature of the officers may be printed or otherwise reproduced on any
bonds in lieu of being manually subscribed. A facsimile of the seal of the authority may be
printed or otherwise produced on any bonds in lieu of being manually affixed thereto, and
a facsimile of the chair's signature may be printed or otherwise reproduced on any interest
coupons in lieu of being manually subscribed, provided, that the bonds have been manually
authenticated by a transfer agent of the bond issue. Delivery of the bonds executed shall
be valid notwithstanding any changes in officers or in the seal of the...
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11-92B-12
Section 11-92B-12 Bonds of the authority. (a) Bonds of an authority shall be signed by the
chair or vice chair and attested to by the secretary or assistant secretary. The seal of an
authority shall be affixed thereto. A facsimile of the signature of the officers may be printed
or otherwise reproduced on any such bonds in lieu of being manually subscribed thereon, and
a facsimile of the seal of an authority may be printed or otherwise produced on any such bonds
in lieu of being manually affixed thereto, provided that the bonds have been manually authenticated
by a transfer agent of the bonds issued. Delivery of the bonds so executed shall be valid
notwithstanding any subsequent changes in officers or in the seal of an authority. (b) Bonds
may be executed and delivered by an authority at any time. The bonds shall be in such form
and denominations and of such tenor and maturities, shall bear such rate or rates of interest
or no interest, shall be payable at such times, and shall be...
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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...
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23-6-9
Section 23-6-9 Disposition of bond proceeds; industrial access road and bridge construction
account; refunding bonds; contracts for construction, etc., of roads and bridges; performance
of work done without contract; property acquired by corporation; roads and bridges constructed
to be part of public highway system; appropriation for road and bridge construction. The proceeds
of all bonds, other than refunding bonds, issued by the corporation, remaining after paying
the expenses of their issuance, shall be turned into the treasury, shall be carried in a special
industrial access road and bridge construction account, and shall be available to be drawn
upon by the corporation, upon the approval of the State Department of Transportation and the
Governor, but solely for the purpose of constructing, reconstructing, and relocating industrial
access roads and bridges and work incidental or related thereto, including the acquisition
of property necessary therefor. Moneys on deposit in the...
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11-22-9
Section 11-22-9 Bond issues - Funds for payment; execution; form; redemption; sale; refunding;
negotiable instruments. (a) All bonds issued by the corporation shall be payable solely out
of the revenues and receipts derived from the operation, leasing or sale by the corporation
of its projects or of any thereof as may be designated in the proceedings of the board of
directors under which the bonds shall be authorized to be issued. (b) Such bonds may be executed
and delivered by the corporation at any time and from time to time, may be in such form and
denominations and of such tenor and maturities, may be in registered or bearer form either
as to principal or interest or both, may be payable at such time or times not exceeding 40
years from the date thereof, may be payable at such place or places whether within or without
the State of Alabama, may bear interest at such rate or rates payable at such time or times
and at such place or places and evidenced in such manner, may be executed...
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11-54-143
Section 11-54-143 Bonds issued to finance projects. All bonds issued by a municipality under
authority of this article shall be limited obligations of the municipality the principal of
and interest on which shall be payable solely out of the revenues derived from the leasing
of the project to finance which the bonds are issued. Bonds and interest coupons issued under
authority of this article shall never constitute an indebtedness of the municipality within
the meaning of any state constitutional provision or statutory limitation, and shall never
constitute nor give rise to a pecuniary liability of the municipality or a charge against
its general credit or taxing powers, and such fact shall be plainly stated in the face of
each such bond. Such bonds may be executed and delivered at any time and from time to time,
may be in such form and denominations, may be of such tenor, may be in registered or bearer
form either as to principal or interest or both, may be payable in such...
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