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41-10-547
Section 41-10-547 Bonds of the authority. (a) The authority is authorized from time
to time to sell and issue its bonds for the purpose of financing project costs pertaining
to one or more projects or for the purpose of providing funds to pay training facility management
fees, or any combination of the foregoing including, without limitation, in the case of authority
obligations issued for the purpose of providing funds to pay training facility management
fees, costs, expenses, and other items of the type described in paragraphs g., h., i., and
j. of the definition of project costs in Section 41-10-541 or to enter into guaranty
agreements wherein the authority guarantees payment, in whole or in part, of debt service
referable to obligations issued by development agencies for the purpose of financing project
costs pertaining to one or more projects; provided, however, that the principal amount of
authority obligations shall not exceed three hundred million dollars ($300,000,000). For...
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41-10-541
Section 41-10-541 Definitions. (a) The following words and phrases used in this division,
and others evidently intended as the equivalent thereof, shall, in the absence of clear implication
herein otherwise, be given the following respective interpretations herein: (1) APPROPRIATED
FUNDS. Net TVA payments to the extent such payments are pledged and appropriated to the authority
pursuant to Section 41-10-550. (2) AUTHORITY. The public corporation organized pursuant
to this division. (3) AUTHORITY GUARANTY. An agreement of the authority pursuant to which
the payment of debt service referable to bonds, notes, or other evidences of indebtedness
of a development agency is guaranteed by the authority. (4) AUTHORITY OBLIGATIONS. Bonds of
the authority and authority guaranties. (5) AUTHORITY-GUARANTEED OBLIGATIONS. Bonds, notes,
or other evidences of indebtedness of a development agency that are issued solely for the
purpose in financing a project and that are guaranteed, in whole or in part,...
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23-7-2
Section 23-7-2 Definitions. For the purposes of this chapter, the following words shall
have the following meanings: (1) BANK. The Alabama Transportation Infrastructure Bank. (2)
BOARD. The board of directors of the bank. (3) BONDS. Includes bonds, notes, or other evidence
of indebtedness except as otherwise provided in this chapter. (4) DEPARTMENT or DEPARTMENT
OF TRANSPORTATION. The Alabama Department of Transportation. (5) ELIGIBLE COST. As applied
to a qualified project to be financed from the federal highway account, the costs that are
permitted under applicable federal laws, requirements, procedures, and guidelines in regard
to establishing, operating, and providing assistance from the bank. As applied to a qualified
project to be financed from the state highway account, these costs include the costs of preliminary
engineering, traffic, and revenue studies; environmental studies; right-of-way acquisition;
legal and financial services associated with the development of the...
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37-11A-1
Section 37-11A-1 Execution and text of compact. The Governor, on behalf of this state,
shall execute a compact, in substantially the following form, with the State of Mississippi,
and the Legislature approves and ratifies the compact in the form substantially as follows:
Northeast Mississippi - Northwest Alabama Railroad Authority Compact. The contracting states
solemnly agree: Article I. The purpose of this compact is to promote and develop trade, commerce,
industry, and employment opportunities for the public good and welfare in northeast Mississippi
and northwest Alabama through the establishment of a joint interstate authority to acquire
certain railroad properties and facilities which the operator thereof has notified the Interstate
Commerce Commission of an intention to abandon and which are located in any of Franklin, Marion,
or Winston Counties, Alabama or in Alcorn or Tishomingo Counties, Mississippi. Article II.
This compact shall become effective immediately as to the State...
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22-23B-7
Section 22-23B-7 Purpose; issuing, selling and refunding of bonds. For the purpose of
providing funds for the authority to make loans to public bodies for a project or projects,
or for the payment of obligations incurred or temporary loans made for any of said purposes,
the authority is hereby authorized, from time to time, to issue and sell its bonds or other
evidences of indebtedness. Such bonds may be issued in one or more series; shall be in such
form and denominations and of such terms and maturities, not exceeding 30 years from the date
of issue of each series; shall bear such rate or rates of interest, payable and evidenced
in such manner; may contain such provisions for registration or for redemption prior to maturity;
and may contain such other provisions not inconsistent herewith, all as may be provided by
the authorizing resolution. As security for the payment of the principal of and interest on
its bonds, the authority is authorized to pledge, transfer and assign any...
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41-10-550
Section 41-10-550 Appropriation and pledge of funds for authority obligations. (a) For
the purpose of providing funds to enable the authority to pay debt service referable to any
bonds issued by it, amounts due on any authority guaranties entered into by it under this
division and other obligations incurred by the authority pursuant to this division, and to
pay the costs of acquiring, operating, and maintaining any project or other property the authority
may own, acquire, or operate and to pay any other costs, expenses, or obligations of the authority,
there is irrevocably pledged to such purpose and is appropriated to the authority so much
as may be necessary therefor of the appropriated funds. All moneys hereby appropriated and
pledged shall be deposited in a special fund maintained by the State Treasurer separate and
apart from all other funds under his or her supervision, and the State Treasurer is hereby
directed to cause moneys in the special fund to be disbursed solely for the...
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41-9-962
Section 41-9-962 Authority to issue revenue bonds; purposes; redemption; maturity date
limitation; public or private sale; obligations of project not state; security. (a) The commission
shall have the power and authority to issue and sell at any time its revenue bonds for the
purpose of providing funds to acquire, transport, outfit, renovate, maintain, improve, and
berth the items relevant to the Tuskegee Airmen and other related historic artifacts and to
construct, improve, enlarge, complete, maintain, operate, and equip the museum established
in this article and for the payment of obligations incurred. (b) The principal of and interest
on any bonds shall be payable solely out of the revenues derived from the project. All bond
service payments shall be subordinate to the acquisition, establishment, and maintenance of
a reasonable maintenance and operating fund. (c) Any bonds of the commission may be delivered
by the commission at any time and shall be in such form and denominations...
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22-29-8
Section 22-29-8 Bonds - Authorization to issue and sell; security for payment. For the
purpose of providing funds for the state to make grants to local public bodies for a project
or projects or for the payment of obligations incurred or a temporary loan made for any of
said purposes, the authority is hereby authorized, from time to time, to issue and sell its
bonds, not exceeding in the aggregate principal amount, however, $30,000,000.00. Such bonds
may be issued in one or more series, shall be in such form and denominations and of such tenor
and maturities, not exceeding 40 years from the date of issue of each series, shall bear such
rate or rates of interest, payable and evidenced in such manner, may contain such provisions
for registration or for redemption prior to maturity and may contain such other provisions
not inconsistent with this section as may be provided by the authorizing resolution.
As security for the payment of the principal of and interest on its bonds, the...
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41-10-622
Section 41-10-622 Definitions. When used in this division, the following terms shall
have the following meanings, unless the context clearly indicates otherwise: (1) APPROPRIATED
FUNDS. The tobacco revenues deposited in the special fund to the extent such revenues are
appropriated to the authority pursuant to Section 41-10-630. (2) AUTHORITY. The Alabama
21st Century Authority authorized to be established pursuant to Section 41-10-623.
(3) BONDS. Those bonds, including refunding bonds, issued pursuant to this division. (4) GOVERNMENT
SECURITIES. Any bonds or other obligations which as the principal and interest constitute
direct obligations of, or are unconditionally guaranteed by, the United States of America,
including obligations of any federal agency to the extent such obligations are unconditionally
guaranteed by the United States of America and any certificates or any other evidences of
an ownership interest in such obligations of, or unconditionally guaranteed by, the United...
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41-10-751
Section 41-10-751 Definitions. When used in this article, the following terms shall
have the following meanings, unless the context clearly indicates otherwise: (1) ALABAMA TRUST
FUND. The trust fund of the state created under Amendment 450 to the Constitution of Alabama
of 1901, and appearing as ยง219.02 of the Official Recompilation of the Constitution of Alabama
1901, as amended. (2) APPROPRIATED FUNDS. The BP settlement revenues deposited in the special
fund to the extent such revenues are appropriated to the authority pursuant to Section
41-10-759. (3) AUTHORITY. The Alabama Economic Settlement Authority authorized to be established
pursuant to Section 41-10-752. (4) BONDS. Those bonds, including refunding bonds, issued
pursuant to this article. (5) BP SETTLEMENT REVENUES. Revenues received by the state in settlement
of economic damages claims of the state against BP Exploration and Production, Inc. and any
of its corporate affiliates arising out of the Deepwater Horizon oil spill...
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