|
41-10-63
Section 41-10-63 Authority and procedure for pledge of revenues of authority and creation of
statutory lien upon facilities and properties thereof for payment of principal and interest
on bonds; remedies upon default in payment of principal or interest on bonds. (a) In the proceedings
authorizing the issuance of any of its bonds, the authority is hereby authorized and empowered
to pledge for the payment of the principal of and interest on such bonds, as the said principal
and interest shall respectively mature, and to agree to use solely for such purpose all the
revenues which under the provisions of Section 41-10-65 are provided for the payment of the
said principal and interest. All such pledges made by the authority shall take precedence
in the order of the resolutions containing such pledge. (b) In said proceedings the authority
may further provide and create a statutory lien upon the facilities and properties of the
authority as security for the payment of said principal and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-63.htm - 3K - Match Info - Similar pages
11-94-12
Section 11-94-12 Bonds of authority - Indenture; lien; remedies of bondholders. In the discretion
of its board, any bonds issued by an authority may be secured by an indenture between an authority
and a trustee, which may be 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 an 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, an authority may mortgage any
of its properties, including any that may be thereafter acquired by it, and may provide that
in the event of a default in payment of the bonds secured thereby or in the event of default
with respect to any agreement contained therein, such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-94-12.htm - 4K - Match Info - Similar pages
11-86A-12
and recreation purposes to other public persons and to any organization which is described
in Section 501(c)(3) of the Internal Revenue Code of 1986, as in effect from time to time,
or as recodified, or any corresponding provision of any future revenue law. (9) To accept
gifts, grants, bequests, or devises. (10) To accept grants of money from public persons and
to enter into binding agreements with those entities, with or without consideration. (11)
To accept donations of money or real or personal or mixed property. (12) To invest
in bank deposits, U.S. Treasury obligations, instruments, real, personal, or mixed
property, and other investments as the board of directors may determine to be appropriate
and convenient to accomplish any purpose for which an authority is organized, including works
of internal improvement. (13) To appoint, contract with, and employ officers, employees, and
agents including, but not limited to, engineers, accountants, attorneys, architects, construction...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-86A-12.htm - 5K - Match Info - Similar pages
41-9-682
any of the aforesaid facilities. (c) The authority shall have the following powers, together
with all powers incidental thereto or necessary to the discharge thereof: (1) To adopt, alter
and repeal bylaws, not inconsistent with the provisions of this section, for the regulation
and conduct of its affairs and business; (2) To acquire, whether by purchase, construction,
exchange, gift, lease or otherwise and to improve, maintain, equip and furnish one or more
projects, including all real and personal properties which the members of the authority
may deem necessary in connection therewith, regardless of whether or not any such projects
shall then be in existence; (3) To lease to others any or all of its projects and properties
and to charge and collect rent therefor and to terminate any such lease upon the failure of
the lessee to comply with any of the obligations thereof; (4) To receive and accept, from
any source, aid or contributions of money, property, labor or other items of value...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-9-682.htm - 13K - Match Info - Similar pages
22-3A-7
(5) To provide for the acquisition, construction, installation, equipping, operation and maintenance
of public health facilities, including the equipping and improvement of existing public health
facilities, and to vest title to such facilities or to cause or permit title to such facilities
to be vested in the authority, the State Board of Health or county board(s) of health, as
the directors shall determine; (6) To receive, take and hold by sale, gift, lease, devise
or otherwise, real and personal property of every description, and to manage the same;
(7) To acquire by purchase, gift, lease or the exercise of the power of eminent domain, or
by any other lawful means, any real, personal or mixed property, and to sell, exchange,
donate, transfer, or convey any or all of its properties, all as the authority shall determine
to be necessary or desirable for the accomplishment of the purposes of this chapter; (8) To
borrow money and issue its bonds in evidence thereof subject to the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-3A-7.htm - 3K - Match Info - Similar pages
4-3-47
perpetuity) specified in its certificate of incorporation; (2) To sue and be sued in its own
name in civil actions, excepting actions in tort against the authority; (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, take and
hold, whether by purchase, option to purchase, gift, lease, devise or otherwise, property
of every description, whether real, personal or mixed, whether in one or more counties
and whether within or without the corporate limits of any authorizing subdivision, and to
manage said property and to develop any property and to sell, exchange, lease or grant an
option to purchase any property (whether developed or undeveloped) owned, leased or controlled
by it; (6) To make, enter into, execute and perform such contracts, agreements, leases and
other instruments and to take such other action as may be necessary or convenient to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/4-3-47.htm - 16K - Match Info - Similar pages
11-81-141
Section 11-81-141 Powers of municipalities or counties generally; provisions in instruments
or deeds of trust creating pledges, mortgages, liens, etc., for payment of bonds; determination
of costs of acquisition, construction, etc., of undertakings. (a) In addition to the powers
which it may now have, any municipality or county shall have power under this division: (1)
To acquire by gift or purchase, to construct, to reconstruct, to improve, to better or to
extend any undertaking within or without the municipality or county or partially within or
partially without the municipality or county; (2) To operate and maintain any undertaking
for its own use and for the use of public and private consumers and users within and without
the territorial boundaries of the municipality or county; (3) To lease any undertaking or
portion thereof to any agency or department of the State of Alabama for a period or periods
not exceeding 40 years from the completion of the construction of the work, if...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-81-141.htm - 6K - Match Info - Similar pages
37-11A-1
by the Governor, or upon its otherwise becoming a law, and when the State of Mississippi ratifies
the compact. Article III. For purposes of this compact, the following terms shall have the
following meanings: (1) Person means an individual, a corporation, a partnership, or any other
entity. (2) Railroad means a common carrier by railroad as defined in Section 1(3) of Part
I of the Interstate Commerce Act [codified as 49 U.S.C. ยง1(3)]. (3) Railroad properties and
facilities mean any real or personal property or interest in property which is owned,
leased, or otherwise controlled by a railroad or other person, including, without limitation,
the authority, and which are used or are useful in rail transportation service, including,
without limiting the generality of the foregoing: a. Track, roadbed, and related structures,
including rail, ties, ballast, other track materials, grading, tunnels, bridges, trestles,
culverts, elevated structures, stations, office buildings used for operating...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-11A-1.htm - 33K - Match Info - Similar pages
41-10-541
such obligations, and which meet the greater of 100% collateralization or the "AA"
collateral levels established by Standard & Poor's Rating Group for structured financings;
and h. Uncollateralized investment agreements with, or certificates of deposit issued by banks
or bank holding companies, the senior long-term securities of which are rated at least "AA"
by Standard & Poor's Rating Group and at least "Aa" by Moody's Investors Service.
(11) FINANCED PROPERTY. All property whether real, personal, or mixed, the costs of
which were or are to be paid or reimbursed in whole or in part with the proceeds of bonds
of the authority or the proceeds of authority-guaranteed obligations. (12) FINANCING AGREEMENT.
Any loan, lease, agreement, grant agreement, financing agreement, credit agreement, security
agreement, mortgage, indenture, guaranty agreement, or other type of agreement entered into
by the authority in connection with the incurring of authority obligations. (13) FUNDING AGREEMENT....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-541.htm - 13K - Match Info - Similar pages
33-12-5
grants or other assistance from federal, state and local governments or from agencies of such
governments and by issuing in its own name revenue bonds pledging a portion of the revenues
from such facilities. f. Arrange with any city, county, municipality or supplier of utilities
for the abandonment, relocation or other adjustment of roads, highways, bridges and utility
lines. (3) LAND ACQUISITION. The agency may acquire by purchase, lease, gift or condemnation
property of any kind, real, personal or mixed, or any interest therein, that the board
deems necessary or convenient to the exercise of its powers or functions; provided, that acquisition
by condemnation shall be limited to land, rights in land, including leaseholds and easements,
and water rights in the Alabama portion of the Elk River Watershed that the board determines
to be necessary to the control and optimum development of the Elk River. The amount and character
of the interests in land, rights in land and water rights...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-12-5.htm - 18K - Match Info - Similar pages
|