41-10-492
Section 41-10-492 Authority as public corporation. The state Finance Director, the state Budget
Officer and one person appointed by the Governor, one person appointed by the Speaker of the
House and one person appointed by the Lieutenant Governor, may become a public corporation
with the power and authority provided in this article by proceeding according to the provisions
hereof. Those persons appointed by the Governor, Lieutenant Governor and Speaker of the House
shall serve at the pleasure of the official appointing them and until their replacements have
been appointed. The State Treasurer shall be treasurer of the authority, shall act as custodian
of the funds of the authority, and shall pay the principal of and interest on the bonds of
the authority out of the funds hereinafter provided for; provided, that the State Treasurer
may designate one or more banks either within or without the state as the paying agent with
respect to any series of bonds issued under this article. (Acts...
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16-13-99
Section 16-13-99 Place and method of payment. All warrants issued hereunder may be made payable
as to principal and interest at such banks within or without the State of Alabama as the issuing
board of education may designate. The county or city superintendent of education and the custodian
or treasurer of school funds, as the case may be, shall deposit sufficient funds in such bank
designated by the issuing board, as the bank at which its warrants are payable to meet all
maturing installments of principal of and interest on its warrants promptly as the same shall
fall due. The amounts due on principal and interest of school warrants issued heretofore and
hereunder shall be remitted by said banks at par, including any premium due on called warrants,
and without the deduction of exchange, handling, or collection costs from the amount due the
holders of said warrants. Each issuing board of education shall be authorized to compensate
any paying agent bank in an amount deemed reasonable by...
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16-16B-4
Section 16-16B-4 (Implementation Conditioned on Separate Legislative Enactment.) Execution
and other details of the bonds. The Bonds shall be signed by the president or vice-president
of the Authority, and the seal of the Authority affixed thereto (or a facsimile thereof imprinted
thereon) and attested by its secretary. All signatures of the president, vice-president, and
secretary may be facsimile signatures if the Authority, in its proceedings with respect to
issuance, provides for manual authentication (which may be in the form of a certificate as
to registration) of the Bonds by a trustee, registrar or paying agent or by named individuals
who are employees of the State and who are assigned to the Finance Department or State Treasurer's
Office of the State. All Bonds bearing signatures or facsimiles of the signatures of officers
of the Authority in office on the date of signing thereof shall be valid and binding notwithstanding
that before the delivery thereof and payment therefor,...
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2-5A-32
Section 2-5A-32 Execution and other details of bonds. The bonds shall be signed by the chair
or vice chair of the Board of Agriculture and Industries, and the seal of the Department of
Agriculture and Industries shall be affixed thereto, or a facsimile thereof imprinted thereon,
and attested by the secretary of the board. All signatures of the chair, vice chair, and secretary
may be facsimile signatures if the proceedings under which the bonds are issued provide for
the manual authentication of such bonds by a trustee or paying agent or by named individuals
who are employees of the State of Alabama and who are assigned to the Department of Finance
or office of the State Treasurer. The seal of the Department of Agriculture and Industries
shall be impressed on the bonds and a facsimile of such seal may be printed or otherwise reproduced
on any of the bonds in lieu of being manually impressed thereon. Delivery of bonds so executed
shall be valid notwithstanding any changes in officers...
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22-23B-3
Section 22-23B-3 Revolving Loan Fund established; maintenance; administration. There is hereby
established the State of Alabama Drinking Water Revolving Loan Fund, which shall be maintained
in perpetuity and operated by the department as agent for the authority for the purposes stated
herein. Grants from the federal government or its agencies allocated, allotted or paid to
the state for capitalization of the revolving loan fund, state matching funds where required,
and loan principal, interest, and penalties and interest income and all other amounts at anytime
required or permitted to be paid into the revolving loan fund shall be deposited therein.
Proceeds of bonds issued by the authority, proceeds of capitalization grants, funds appropriated
by the state, loan principal and interest payments, interest income and all other funds of
the authority shall be deposited with one or more banks designated by the authority to act
as depository or trustee with respect to such funds. The...
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22-3A-14
Section 22-3A-14 Refunding bonds. (a) Any bonds issued by the authority under this chapter
may from time to time thereafter be refunded by the issuance of refunding bonds of the authority;
provided, however, that no refunding bonds shall be issued unless the present value of all
debt service on the refunding bonds (computed with a discount rate equal to the true interest
rate of the refunding bonds and taking into account all underwriting discount and other issuance
expenses) shall not be greater than 95 percent of the present value of all debt service on
the bonds to be refunded (computed using the same discount rate and taking into account the
underwriting discount and other issuance expenses originally applicable to such bonds) determined
as if such bonds to be refunded were paid and retired in accordance with the schedule of maturities
(considering mandatory redemption as a scheduled maturity) provided at the time of their issuance.
Provided further that the average maturity of the...
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24-1A-44
Section 24-1A-44 Alternative housing programs; certified amounts; modification and depletion.
(a) Mortgage guarantee fund. In addition to the uses provided in Section 24-1A-43, commencing
on March 3, 2014, the mortgage guarantee fund established by the Alabama Home Buyers Initiative
Act, including all funds appropriated for the mortgage guarantee fund and all interest or
investment earnings thereon, shall be made available to fund alternative housing programs
in accordance with this section, and Sections 24-1A-41.1 and 24-1A-42. (b) Investment income
on mortgage guarantee fund. All interest or investment income, if any, on funds deposited
in the mortgage guarantee fund shall be credited to, and shall remain part of, the mortgage
guarantee fund. (c) Establishment of alternative housing programs. In order to establish an
alternative housing program, the program administrator shall certify in writing to the State
Treasurer that: (1) There is a specific dollar amount of funds on deposit in...
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24-1A-6
Section 24-1A-6 Bonds. (a) General. The authority may from time to time issue its negotiable
bonds in such principal amounts as, in the opinion of the authority, shall be necessary to
provide sufficient funds for achieving the corporate purposes thereof, the payment of interest
on bonds of the authority, establishment of reserves to secure such bonds and all other expenditures
of the authority incident to, and necessary or convenient to, carrying out its corporate purposes
and powers. (b) Sources of Payment. Bonds issued by the authority shall be payable solely
out of revenues or property of the authority specified in the resolutions authorizing the
issuance of such bonds. To the extent permitted by any contracts with the holders of outstanding
bonds and any other contractual obligations or requirements, the authority may pledge any,
or all, of its revenues or mortgages or assign any, or all, of its assets (whether real or
personal and whether tangible or intangible) to secure the...
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27-27-10
Section 27-27-10 Solicitation permit - Bond or deposit in lieu thereof; waiver of same. (a)
Except as to proposed domestic insurers which are subject to the requirements of Section 27-27-16,
the commissioner shall not issue a solicitation permit until the applicant therefor has filed
with him a corporate surety bond in the penalty of $15,000.00 in favor of the State of Alabama
and for the use and benefit of the state and of proposed Alabama investors in and creditors
of the proposed organization. (b) The bond shall be conditioned upon the payment of costs
incurred by the state in event of any legal proceedings for liquidation or dissolution of
the proposed organization before completion of organization or in event a certificate of authority
is not granted and upon a full accounting for funds received until the proposed insurer has
been granted its certificate of authority or until the proposed corporation, syndicate, organization,
or financing has been completed as defined in the...
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41-10-60
Section 41-10-60 Disposition of proceeds from sale of bonds and refunding bonds. (a) The authority
shall pay out of the proceeds from the sale of any of the bonds all expenses, including fees
of agents and attorneys and other charges, which said board of directors may deem necessary
or advantageous in connection with the issuance of the bonds. The proceeds of the bonds, other
than refunding bonds, remaining after paying the expenses of their issuance shall be turned
over to the State Treasurer and 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 acquiring real estate suitable for the purpose of the authority in Jefferson County, Alabama,
including all expenses reasonably necessary in connection with such acquisition, and erecting,
constructing and equipping on such real estate exhibition halls, buildings, warehouses, storage
facilities, parking areas and other structures and...
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