23-1-158
Section 23-1-158 Bonds - Disposition of proceeds. (a) The proceeds of all bonds, other
than refunding bonds, issued by the corporation, remaining after paying the expenses of their
issuance, shall be turned in to the Treasury or shall be deposited into such account or accounts
as specified in the resolution of the board of directors whereunder such bonds are authorized
to be issued, and shall be subject to be drawn on upon the approval of the Department of Transportation
solely for the purpose of constructing, reconstructing, and relocating public roads, bridges
and approaches thereto, tunnels, other public roadway improvements, or work incidental or
related thereto, in the State of Alabama, including the acquisition of property necessary
for such construction, reconstruction, and relocation and incidental and related work. If
action is necessary in order to comply with any federal legislation relating to federal aid
in construction of roads, the corporation may authorize the...
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23-6-8
Section 23-6-8 Bonds of corporation; annual appropriation from state Public Road and
Bridge Fund. (a) The bonds of the corporation shall be signed by its president and attested
by its secretary and the seal of the corporation shall be affixed thereto or a facsimile thereof
printed or otherwise reproduced thereon. The signatures of both the president and the secretary
on any bonds may be facsimile signatures if the board of directors, in its proceedings with
respect to issuance of the bonds, provides for manual authentication thereof, or manual execution
of certificates of registration thereon, by a trustee, registrar, or paying agent or by named
individuals who are employees of the state assigned to the Finance Department or the State
Treasurer's office. Any bonds of the corporation may be executed and delivered by it at any
time and shall be in the form and denominations and of the tenor and maturities, shall bear
the rate or rates of interest payable and evidenced in such manner, may...
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27-41-6
Section 27-41-6 Limitations upon investments generally. (a) An insurer shall not have
at any one time any single investment or combination of investments in or loans upon the security
of the obligations, property, or securities of any one person aggregating in cost to the insurer
in excess of the greater of 10 percent of such insurer's assets or the total of its capital
and surplus, as shown in the latest annual report of the insurer filed pursuant to subsection
(a) of Section 27-3-26 of the Alabama Insurance Code, less the minimum capital and
surplus required of said insurer for authority to transact insurance by Sections 27-3-7 and
27-3-8 of the Alabama Insurance Code. The restriction of this subsection shall not apply to
evidences of indebtedness issued, assumed, or guaranteed by the United States of America or
any department, agency, or instrumentality thereof or by any state of the United States. (b)
An insurer shall at all times invest and maintain invested funds in cash and...
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40-17-361
Section 40-17-361 Disposition of diesel proceeds. (a) The proceeds of the thirteen cents
($.13) diesel excise tax imposed by this article, when collected, shall be applied as follows:
(1) For payment of the costs of collection thereof, being the amount appropriated for each
fiscal year by the Legislature to the department for the administration of this article. (2)
For payment of the principal of and interest on bonds issued after October 1, 1969, and prior
to December 1, 1977, by the Alabama Highway Authority, a public corporation and instrumentality
of the state, all in the manner and to the extent and subject to the priorities as to rank
as are provided in the respective statutes under which the bonds were issued. (3) For payment
of the principal of and interest on bonds and other obligations, including refunding obligations,
issued after December 1, 1977, by a public corporation existing at the time of issuance under
the laws of Alabama pursuant to then existing statutory or...
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41-10-44.8
Section 41-10-44.8 Tax credits, job development fees and other incentives. (a) Upon
the issuance by the authority of its project obligations for the purpose of financing a project
for an approved company with respect to which the authority adopted a resolution accepting
the project prior to January 16, 1995, the approved company: (1) Shall receive a credit against
the corporate income tax levied by Section 40-18-31 that otherwise would be owed to
the state in any year by the approved company on its income generated by or arising out of
the project, such credit not to exceed the lesser of (i) the amount due in tax, or (ii) the
amount paid by the approved company pursuant to a financing agreement in the year for which
the tax is due, corresponding to debt service on the project obligations; and (2) May elect
to withhold and retain the aggregate job development fees described in paragraph (b) below,
but only to the extent that debt service payments under the financing agreement(s) exceed...

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45-49A-64.07
Section 45-49A-64.07 Powers of authority. The authority shall have the following powers,
together with all powers incidental thereto or necessary to the discharge thereof in corporate
form: (1) To have succession by its corporate name for the duration of time (which may be
perpetual, subject to Section 45-49A-64.19) specified in its certificate of incorporation.
(2) To sue and be sued in its own name in civil suits and actions and to defend suits against
it. (3) To adopt and make use of a corporate seal and to alter the same at pleasure. (4) To
adopt and alter bylaws for the regulation and conduct of its affairs and business. (5) To
acquire, receive, and take, by purchase, gift, lease, devise, or otherwise, and to hold property
of every description, real, personal, or mixed, whether located in one or more counties or
municipalities and whether located within or outside the authorizing municipality. (6) To
make, enter into, and execute such contracts, agreements, leases, and other...
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11-49A-8
Section 11-49A-8 Powers of authority. The authority shall have the following powers,
together with all powers incidental thereto or necessary to the discharge thereof in corporate
form: (1) To have succession by its corporate name for the duration of time (which may be
perpetual, subject to the provisions of Section 11-49A-20) specified in its certificate
of incorporation; (2) To sue and be sued in its own name in civil suits and actions and to
defend suits against it; (3) To adopt and make use of a corporate seal and to alter the same
at pleasure; (4) To adopt and alter bylaws for the regulation and conduct of its affairs and
business; (5) To acquire, receive, and take, by purchase, gift, lease, devise, or otherwise,
and to hold property of every description, real, personal, or mixed, whether located in one
or more counties or municipalities and whether located within or outside the authorizing municipality;
(6) To make, enter into, and execute such contracts, agreements, leases, and...
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11-99B-7
Section 11-99B-7 Powers of district generally; power of district to acquire and operate
projects; provisions in schedules of rates and charges generally. Each district shall have
the following powers, together with all powers incidental thereto or necessary to the discharge
thereof in corporate form: (1) To have succession by its corporate name for the duration of
time, which may be in perpetuity, subject to the provisions of Section 11-99B-15, specified
in its certificate of incorporation. (2) To sue and to be sued in its own name in civil actions,
and to defend civil actions against it; provided, that the district shall be deemed to be
a "governmental entity" as defined in Chapter 93 of this title, for the purposes
of limiting the damages for which the district and its members may be liable. (3) To adopt
and make use of a corporate seal and to alter the same at pleasure. (4) To adopt and alter
bylaws for the regulation and conduct of its affairs and business. (5) To acquire, receive,...

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16-18-7
Section 16-18-7 Powers of authority. The authority shall have the following powers,
together with all powers incidental thereto or necessary to the discharge thereof in corporate
form: (1) To have succession by its corporate name for the duration of time, which may be
in perpetuity, subject to the provisions of Section 16-18-21 specified in its certificate
of incorporation; (2) To sue and be sued in its own name in civil actions and to defend actions
against it; (3) To adopt and make use of a corporate seal and to alter the same at pleasure;
(4) To adopt and alter bylaws for the regulation and conduct of its affairs and business;
(5) To acquire, receive and take by purchase, gift, lease, devise or otherwise, and to hold
property of every description, real, personal or mixed, wherever the same might be located;
(6) To make, enter into and execute such contracts, agreements, leases and other instruments
and to take such other actions as may be necessary or convenient to accomplish any...
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2-3A-8
Section 2-3A-8 Bonds of the authority. (a) Source of payment. All bonds issued by the
authority shall be payable solely out of the revenues and other receipts of the authority
as may be designated in the proceedings of the board under which the bonds shall be authorized
to be issued. (b) Pledge of revenues and other security. The principal of and interest on
any bonds issued by the authority shall be secured by a pledge of the revenues and other receipts
out of which the same may be payable and may be secured by a trust indenture evidencing such
pledge or by a foreclosable mortgage and deed of trust conveying as security for such bonds
all or any part of the property of the authority from which the revenues so pledged may be
derived. The resolution under which the bonds are authorized to be issued or any such trust
indenture or mortgage may contain any agreements and provisions respecting the maintenance
and insurance of the property covered by such trust indenture or mortgage, the use...
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