41-10-758
Section 41-10-758 Creation of special fund. For the benefit of the State of Alabama and the
citizens thereof, there is hereby created a special fund named the BP Settlement Fund which
shall be funded with BP settlement revenues and administered in accordance with this article.
All BP settlement revenues received after September 30, 2017, shall be deposited in the special
fund upon receipt and shall be used first to pay principal, interest, and premium, if any,
and any other amounts due on or with respect to the bonds of the authority. Any BP settlement
revenues determined by the directors of the authority to be in excess of the amounts needed
for the payment of all amounts due with respect to the bonds, may be withdrawn from the special
fund and used to pay costs and expenses incident to the issuance of the bonds, including costs
and expenses incurred by the Department of Finance in the administration of the bonds, may
be transferred to and deposited in the Alabama Trust Fund or the...
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33-2-189
Section 33-2-189 Docks facilities revenue bonds and refunding bonds - Disposition of proceeds
of docks facilities revenue bonds. The department shall pay out of the proceeds from the sale
of any of the docks facilities revenue bonds all expenses that the director may deem necessary
or advantageous in connection with the sale and issuance of such docks facilities revenue
bonds (including any discount reflected in the purchase price thereof paid to the department),
including fees and disbursements of attorneys, accountants, financial advisors, consulting
engineers, and other consultants, fees and disbursements of trustees and escrow agents, bond
insurance premiums, printing costs, and other customary bond issuance expenses. Proceeds of
any of the docks facilities revenue bonds may also be applied to pay the costs of any surety
bonds or bonds that the department may cause to be deposited in a reserve account to further
secure the payment of principal of, premium, if any, and interest on...
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41-10-318
Section 41-10-318 Security for bonds. The principal of, premium, if any, and interest on the
bonds of the authority shall be secured by any or all of the following, as the authority may
determine: (1) The rent and revenues from the lease or use of one or more facilities of the
authority; (2) The proceeds from any sale of any facilities of the authority; (3) Any bond
proceeds remaining unexpended upon completion of all facilities to be constructed with such
bond proceeds and the payment of the cost thereof; (4) Any insurance proceeds which the authority
may receive by reason of its ownership of any of the facilities; and (5) Any mortgage upon
or security interest in one or more facilities of the authority, granted in connection with
the issuance of such bonds. The authority shall have authority to transfer and assign any
lease or mortgage of any of its facilities as security for the payment of such principal,
premium, if any, and interest. The bonds may be issued under, and secured by,...
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41-10-508
Section 41-10-508 Security. The principal of, premium, if any, and interest on the bonds of
the authority shall be secured by any or all of the following, as the authority may determine:
(1) The rent and revenues from the lease or use of one or more facilities of the authority;
(2) The proceeds from any sale of any facilities of the authority; (3) Any bond proceeds remaining
unexpended upon completion of all facilities to be constructed with such bond proceeds and
the payment of the cost thereof; (4) Any insurance proceeds which the authority may receive
by reason of its ownership of any of the facilities; and (5) Any mortgage upon or security
interest in one or more facilities of the authority, granted in connection with the issuance
of such bonds. The authority shall have authority to transfer and assign any lease or mortgage
of any of its facilities as security for the payment of such principal, premium, if any, and
interest. The bonds may be issued under, and secured by, a...
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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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41-10-757
Section 41-10-757 Disposition of proceeds of bonds. (a) The authority is authorized and empowered
to apply the proceeds of any bonds and any other funds belonging to the authority for any
of the following purposes or uses: (1) For the purposes for which the bonds were authorized
to be issued, in the following order: a. To repay the General Fund Rainy Day Account for the
$161,565,874 transferred to the State General Fund in fiscal year 2010 pursuant to Amendment
803 to the Constitution of Alabama of 1901. b. To repay a total of $238,434,126 to the Alabama
Trust Fund for amounts transferred to the State General Fund in fiscal years 2013, 2014, and
2015 pursuant to Section 4 of Amendment 856 to the Constitution of Alabama of 1901. c. To
provide one hundred twenty million dollars ($120,000,000) to the Alabama Medicaid Agency to
be distributed fifteen million dollars ($15,000,000) in fiscal year 2017 and one hundred five
million dollars ($105,000,000) in fiscal year 2018. The Alabama...
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14-2-21
Section 14-2-21 Bonds - Security. The principal of, premium, if any, and interest on the bonds
of the authority shall be secured by any or all of the following, as the authority may determine:
(1) The rent and revenue for the use of one or more facilities of the authority; (2) The net
rent or sale proceeds from the Kilby property; (3) Any bond proceeds remaining unexpended
upon completion of all facilities to be constructed with such bond proceeds and the payment
of the cost thereof; (4) Any insurance proceeds which the authority may receive by reason
of its ownership of any of the facilities; and (5) Any mortgage upon or security interest
in one or more facilities of the authority, granted in connection with the issuance of such
bonds. The authority shall have authority to transfer and assign any lease of any of the facilities
and any lease or mortgage of the Kilby property as security for the payment of such principal,
premium, if any, and interest. The bonds may be issued under, and...
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37-13-13
Section 37-13-13 Bonds of authority - Security. In the discretion of the authority any bonds
may be issued under and secured by an indenture between the authority and a trustee. Said
trustee may be a private person or corporation, including (but not limited to) any trust company
or bank having trust powers, whether such bank or trust company is located within or without
the state. In any such indenture or resolution providing for the issuance of bonds, the authority
may pledge, for payment of the principal of and the interest on such bonds, any of its revenues
to which its right then exists or may thereafter come into existence and may assign, as security
for such payment, any of its leases, franchises, permits and contracts; and in any such indenture,
the authority may mortgage any of its properties, including any that may be thereafter acquired
by it. Any such pledge of revenues shall be valid and binding from the time it is made, and
the revenues so pledged and thereafter received...
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4-3-17
Section 4-3-17 Security for bonds. In the discretion of the authority, any bonds may be issued
under and secured by an indenture between the authority and a trustee. Said trustee may be
a private person or corporation, including but not limited to any trust company or bank having
trust powers, whether such bank or trust company is located within or without the state. In
any such indenture or resolution providing for the issuance of bonds, the authority may pledge,
for payment of the principal of and the interest on such bonds, any of its revenues to which
its right then exists or may thereafter come into existence and may assign as security for
such payment, any of its leases, franchises, permits and contracts; and, in any such indenture
the authority may mortgage any of its properties, including any that may be thereafter acquired
by it. Any such pledge of revenues shall be valid and binding from the time it is made, and
the revenues so pledged and thereafter received by the authority...
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45-41A-10.09
Section 45-41A-10.09 Boards of the authority. (a) All bonds issued by the authority shall be
payable solely out of the revenues and receipts derived from the leasing or sale by the board
of its projects or of any thereof as may be designated in the proceedings of the board under
which the bonds shall be authorized to be issued. (b)(1) The principal of and interest on
any bonds issued by the authority shall be secured by a pledge of the revenues and receipts
out of which the same may be payable and may be secured by a mortgage and deed of trust or
trust indenture conveying as security for such bonds all or any part of the property of the
authority from which the revenues or receipts so pledged may be derived. (2) The resolution
under which the bonds are authorized to be issued and any such mortgage and deed of trust
or trust indenture may contain any agreements and provisions respecting the operation, maintenance,
and insurance of the property covered by the mortgage and deed of trust...
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