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41-10-516
Section 41-10-516 Special funds. For the purpose of providing funds for the payment of the
principal of and interest on the bonds issued by the authority under the provisions of this
article, there is hereby created and irrevocably pledged to the payment of such obligations
a special and continuing trust fund which shall consist of all receipts and income from rents
contracted for and received by the authority under leases of the facility or facilities constructed
with the proceeds from the sale of the bonds. There shall be created within said special and
continuing trust fund a reserve fund account of said authority in the State Treasury in which
shall be placed as trust fund and held separate and apart from all other moneys of the state
or of the authority, (1) any moneys left after the completion of the facility and the payment
of all costs in connection therewith and in connection with the issuance of the bonds, and,
(2) all excess rentals and other surplus income from the facility...
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45-49A-10.05
Section 45-49A-10.05 Power to borrow money and issue revenue bonds. (a) The corporation shall
have the power to borrow money and to issue revenue bonds as evidence of any money borrowed,
which bonds shall be payable solely from the revenues derived from the activities and enterprises
in which the corporation is hereby authorized to engage. As security for any money so borrowed,
together with interest thereon, and any obligations incurred or assumed, the corporation in
its discretion may mortgage, pledge, or otherwise transfer and convey its real, personal,
and mixed property, or any part or parts thereof, whether then owned or thereafter acquired,
including any franchises then owned or thereafter acquired, and all or any part of the revenues
derived from the activities or enterprises in which the corporation is hereby authorized to
engage. (b) When the corporation deems it advisable, convenient, necessary, or expedient to
issue such bonds, it shall so resolve and all the provisions of...
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41-10-54
Section 41-10-54 Powers of authority generally; acquisition by eminent domain of real property
or rights owned by railroads or utilities not authorized. (a) The authority shall have the
following powers: (1) To have succession by its corporate name until it is dissolved; (2)
To adopt bylaws for the regulation of its affairs and the conduct of its business; (3) To
adopt and use an official seal and alter the same at pleasure; (4) To maintain a principal
office in Jefferson County, Alabama, and suboffices at such places within the state as it
may designate; (5) To sue and be sued and to prosecute and defend civil actions in any court
having jurisdiction of the subject matter and of the parties; (6) To acquire by purchase,
gift, condemnation or any other lawful means any real, personal or mixed property necessary
or convenient in connection with the purpose for which the authority is formed and to hold
title to such property, together with all rights incidental to its estate in such...
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45-37A-54.67
Section 45-37A-54.67 Borrowing; revenue bonds. The authority shall have the power to borrow
money and to issue revenue bonds as evidence of any money so borrowed, which bonds shall be
payable solely from the revenues derived from the fairs, exhibitions, amusements, and other
activities and enterprises in which the authority is hereby authorized to engage. As security
for any money so borrowed, together with interest thereon and any obligations incurred or
assumed, the authority may mortgage, pledge, or otherwise transfer and convey its real, personal,
and mixed property, or any part or parts thereof, whether then owned or thereafter acquired,
including any franchises then owned or thereafter acquired, and all or any part of the revenues
derived from the fairs, exhibitions, amusements, and other activities and enterprises in which
the authority is hereby authorized to engage. The instrument whereunder such mortgage or pledge
shall be made may contain such agreements as the authority...
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45-22-243.99
Section 45-22-243.99 Use of tax proceeds. (a) Commencing with the first month during which
proceeds from the taxes herein levied are paid and thereafter, the county treasurer shall
make monthly distributions of the proceeds so paid to him or her as follows: (1) From the
first 50 percent of the net proceeds from the tax, levied in Section 45-22-243.91, shall be
paid each month to the Cullman County Health Care Authority Board, a public corporation existing
under the provisions of Act 46 adopted at the 1949 Regular Session of the Legislature of Alabama,
as amended, a total of thirty-three thousand three hundred thirty-three dollars and thirty-three
cents ($33,333.33) per month, and no more. (2) One-half (50 percent) of the residue of the
proceeds from the taxes herein levied that remains each month after the payment provided for
in subdivision (1) (the residue consisting of that portion of the tax levied in Section 45-22-243.91
that remains each month after making the payment provided...
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45-37-170.26
Section 45-37-170.26 Powers of authority. The authority shall have the following powers together
with all powers incidental thereto or necessary for the performance of the powers stated in
this section: (1) To have succession by its corporate name without time limit. (2) To sue
and be sued and to prosecute and defend civil actions in any court having jurisdiction of
the subject matter and of the parties. (3) To have and to use a corporate seal and to alter
the same at its pleasure. (4) To receive and expend funds from federal, state, county, municipal,
and private sources for the purposes hereof. (5) To dig channels, build dikes, dams, and lakes
or ponds to contain flood waters as deemed useful by it to improve flood control, and whenever
practical to build any and all facilities which can contribute to the use of such flood control
channels for navigation. (6) To contract with municipalities and counties for the financing
and joint construction and operation of such facilities. (7) To...
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11-62-7
Section 11-62-7 Powers of authority generally; operation of facilities by authority. (a) Every
authority shall have all of the powers necessary and convenient to carry out and effectuate
the purposes and provisions of this chapter, including, without limiting the generality of
the foregoing, the following powers: (1) To have succession in its corporate name for the
duration of time (which may be in perpetuity, subject to the provisions of Section 11-62-17)
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, alter, and repeal bylaws, regulations,
and rules, not inconsistent with the provisions of this chapter, for the regulation and conduct
of its affairs and business; (5) To acquire, whether by gift, purchase, transfer, foreclosure,
lease, or otherwise, and to expand, improve, maintain, equip, and...
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11-97-10
Section 11-97-10 Security for payment of bonds; contracts and agreements to secure. (a) Bonds
issued by any corporation may, as its board may deem advisable, be either general obligations
of such corporation or limited obligations payable only out of certain specified revenues
or assets of such corporation; provided, that any corporation may enter into contracts with
the holders of any of its bonds preventing such corporation from thereafter issuing general
obligation bonds or limiting the amount of such bonds that may thereafter be issued. To the
extent permitted by any contracts with the holders of outstanding bonds and any other contractual
obligations or requirements, any corporation may pledge any of its revenues or mortgage or
assign any of its assets, whether real or personal and whether tangible or intangible, to
secure the payment of any of its bonds. (b) As security for payment of the principal of and
the interest and premium, if any, on any bonds issued or assumed by it, any...
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41-10-44.2
Section 41-10-44.2 Additional definitions. In addition to the definitions contained in Sections
41-10-20 and 41-10-36, the following terms shall have the following meanings, respectively,
when used in this Article 2A unless the context clearly requires otherwise: (1) APPROVED COMPANY.
Any corporation, partnership, trust or other form of business entity approved by the authority
pursuant to the provisions hereof. (2) FINANCING AGREEMENT. Any loan, agreement, financing
agreement, credit agreement, security agreement, mortgage, guaranty agreement or other type
of agreement entered into by the authority and an approved company in connection with the
financing of a project by the authority. (3) INDUSTRIAL or RESEARCH ENTERPRISE. Any trade
or business described in 1987 Standard Industrial Classification Major Group 07, Major Groups
20 through 39, inclusive, 50 and 51, Industrial Group Number 737, and Industry Numbers 8731,
8733 and 8734, as set forth in the Standard Industrial Classification...
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41-9-682
Section 41-9-682 Function and powers generally. (a) It shall be the function and main purpose
of the board to honor those, living or dead, who, by achievement or service, have made outstanding
and lasting contributions to music in Alabama or elsewhere. The board may adopt such rules,
regulations and bylaws as may be needed to carry out its functions. Also, it may conduct surveys
and polls and may appoint such committees and representatives as it may determine necessary
or desirable. The board may acquire, construct, install, equip, lease, manage and operate
buildings and other facilities consisting of any one or more of the following to be located
in Colbert County, Alabama: (i) a music hall of fame and exhibition facility for the display
of busts, statues, plaques, books, papers, computerized figures, memorabilia, records, films,
audio tapes, video tapes, compact disks, recordings, pictures and other exhibits relating
to music and musicians, (ii) a library, research and educational...
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