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14-2-19
Section 14-2-19 Bonds - Disposition of proceeds. (a) All proceeds derived from the sale of
any bonds, except refunding bonds, sold by the authority, remaining after payment of the expenses
of issuance thereof, shall be turned over to the State Treasurer, shall be carried in a special
account to the credit of the authority, and shall be subject to be drawn on by the authority
solely for the purposes of: (1) Acquiring land for and constructing, reconstructing and equipping
thereon one or more facilities; (2) Constructing additional improvements on property currently
owned by the Department of Corrections or the authority in order to provide for additional
bedspace; (3) Paying all reasonable and necessary expenses incidental thereto, including filing,
recording, surveying, legal and engineering fees and expenses; (4) Paying the interest which
will accrue on the said bonds during the period required for the construction and equipment
of the said facilities and for a period not exceeding...
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22-3A-6
Section 22-3A-6 Members; officers; terms; records; meetings; appointment of Governor's designee.
(a) The applicants named in the application and their respective successors in office shall
constitute the members of the authority. The State Health Officer shall be the president of
the authority, the Governor or his designee shall serve as vice-president of the authority,
the Director of Finance of the state shall serve as secretary of the authority, and the State
Treasurer shall be the treasurer of the authority. The State Treasurer shall act as custodian
of the funds of the authority and shall pay the principal of and the interest and premium
(if any) on the bonds of the authority out of the funds hereinafter provided for. The State
Treasurer shall act as paying agent with respect to any series of bonds issued under this
chapter. (b) The service of each of the Governor, the State Health Officer, the Director of
Finance and the State Treasurer as a member of the authority and as an...
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41-10-506
Section 41-10-506 Disposition of proceeds of bonds. (a) All proceeds derived from the sale
of any bonds, except refunding bonds, sold by the authority, remaining after payment of the
expenses of issuance thereof, shall be turned over to the State Treasurer, shall be carried
by him in a special account to the credit of the authority, and shall be subject to be drawn
on by the authority solely for the purposes of: (1) Acquiring land for and constructing, reconstructing
and equipping thereon one or more facilities; (2) Paying all reasonable and necessary expenses
incidental thereto, including filing, recording, surveying, legal and engineering fees and
expenses; (3) Paying the interest which will accrue on the said bonds during the period required
for the construction and equipment of the said facilities and for a period not exceeding six
months after the completion thereof; and (4) Paying the principal of and interest on all then
outstanding notes theretofore issued by the authority...
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41-10-755
Section 41-10-755 Bonds of the authority. (a) General. The authority is authorized from time
to time to sell and issue its bonds for the purpose of providing funds to be transferred to
and deposited in the Alabama Trust Fund and the Rainy Day Account, to provide additional funds
to the Alabama Medicaid Agency, for paying the costs of transportation projects, and for the
purpose of refunding any or all of the authority's outstanding bonds. (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 applicable to...
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45-49A-81.04
Section 45-49A-81.04 Investment of funds. All monies properly belonging to the fund shall be
kept in a separate account or accounts, and may, in the discretion of the persons charged
with the duties of administering the fund, be invested in any securities provided by law to
be a suitable investment for trust fund monies pursuant to the laws of this state including,
but not limited to, the following: (1) Bonds, notes, or other obligations of the United States,
or those guaranteed by the United States or for which the credit of the United States is pledged
for the payment of the principal and interest or the dividends thereof. (2) State bonds pledging
the full faith and credit of the state and revenue bonds additionally secured by the full
faith and credit of the state. (3) Bonds of the counties and municipalities of the state which
contain a pledge of full faith and credit of the county or municipality which issues the bonds.
(4) Savings accounts or certificates of deposit at any bank...
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11-54-131
Section 11-54-131 Investment of moneys; duties of fund manager. (a) Moneys held in and forming
a part of an endowment trust fund, including, without limitation, proceeds of investments
held in and forming a part of the fund, shall, to the extent practicable and feasible, be
kept fully and continuously invested, pending their distribution and expenditure for the purposes
authorized by this division, in any of the following: (1) Interest-bearing bank time deposits
and interest-bearing bank certificates of deposit. (2) Debt securities that are direct general
obligations of the United States of America or any agency thereof, and debt securities of
any state or local government. (3) Other debt securities, common and preferred stocks, shares
of investment companies or mutual funds, or other like investments. (b) All of the above as
may be authorized in the trust agreement under which such fund has been established, and all
with the care, skill, prudence, and diligence under the circumstances...
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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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19-3-120
Section 19-3-120 Classes of authorized investments; repeal of conflicting statutes. (a) Unless
otherwise authorized or directed by the court having jurisdiction thereof, or by the will,
trust agreement or other document which is the source of authority, a trustee, executor, administrator,
guardian or one acting in any other fiduciary capacity, other than as a trustee governed by
the Alabama Uniform Trust Code, with the exercise of reasonable business prudence, in addition
to any other investments now permitted by law, may invest funds in securities or investments
which, at the time of the making or purchase thereof, are included in one or more of the following
classes: (1) Bonds or other interest-bearing obligations of the United States of America,
or payment of which the United States of America has guaranteed as to both principal and interest.
(2) Bonds issued by the Federal Land Bank, under the act of Congress of the United States
of America, designated as "the Federal Farm Loan...
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22-21-370
Section 22-21-370 Posting of securities or surety bond; custody of securities; exemption from
taxation; release of securities or bond; modification orders; hearing; effect of failure to
comply. (a) To assure the faithful performance of its obligations in the event of insolvency
each dental service corporation authorized under Section 22-21-364 shall, through the commissioner,
deposit and maintain with the Treasurer of the State Securities of the type eligible for deposit
by insurers under Section 27-6-3, which securities shall have at all times a market value
as follows: (1) A corporation which has operated no dental service plan in this state prior
to January 1, 1983, shall, prior to the issuance of its certificate of authority and before
receiving any subscription payments, place in trust with the Treasurer of the State, through
the commissioner an initial amount of $50,000.00; (2) A corporation operating a dental service
plan business in this state prior to January 1, 1983, and...
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23-7-29
Section 23-7-29 Other financial assistance authorized. (a) The granting of other financial
assistance by the bank shall be authorized by a resolution of the bank. (b) The bank may execute
instruments and enter into financing agreements, including, without limitation, a trust indenture
between the bank and a corporate trustee, which may be the State Treasurer or any bank having
trust powers or any trust company doing business in this state, containing the terms and conditions
as the bank shall determine in connection with the provision of other financial assistance
and securing its obligations with respect to other financial assistance. (c) The bank may
pledge any of its revenues or funds to the payment of other financial assistance provided
by the bank, subject to any prior pledges for outstanding bonds or other financial assistance
of the bank and, in the case of those revenues described in subdivisions (1) and (2) of subsection
(a) and subsection (b) of Section 23-7-6, the pledges by...
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