16-16B-9
Section 16-16B-9 (Implementation Conditioned on Separate Legislative Enactment.) Use of bond proceeds. (a) The proceeds derived from each sale of the Bonds issued pursuant to this chapter shall be deposited in the State Treasury and shall be carried in a separate fund therein for the account of the Authority, which shall pay the expenses of issuance therefrom. The expenses of issuance of the Bonds shall be prorated among the recipients of the proceeds from the sale of the Bonds in proportions they receive allocations of the proceeds thereunder. The proceeds from the sale of the Bonds remaining after payment of the expenses of issuance thereof shall be retained in said fund and, until they are paid out, shall be invested by the State Treasurer at the direction of the Authority in Permitted Investments maturing at such time or times as the Authority shall direct. (b) Proceeds from the sale of the Bonds and the earnings thereon shall be paid out from time to time on orders or warrants...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-16B-9.htm - 1K - Match Info - Similar pages
11-50-353
Section 11-50-353 Moneys received under article deemed trust funds; provisions in trust agreements or resolutions for issuance of bonds as to trustees. All moneys received pursuant to the authority of this article, whether as proceeds from the sale of bonds or as revenues, shall be deemed to be trust funds to be held and applied solely as provided in this article. The resolution authorizing the bonds of any issue or the trust agreement securing such bonds shall provide that any officer with whom or any bank, trust company, or other fiscal agent with which such moneys shall be deposited shall act as trustee of such moneys and shall hold and apply the same for the purposes hereof, subject to such regulations as this article and such resolution or trust agreement may provide. (Acts 1951, No. 775, p. 1359, §12.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50-353.htm - 1K - Match Info - Similar pages
11-50A-9
Section 11-50A-9 Issuance of bonds; prerequisites; procedure; provisions; execution; bond resolution covenants. (a) The authority shall, prior to the adoption by the board of a resolution authorizing the issuance of any bonds, enter into one or more contracts with two or more municipalities which are authorized to contract with the authority pursuant to Section 11-50A-17. Any resolution of the board authorizing the issuance of bonds may authorize those bonds to be issued in more than one series, and the issuance of each series of bonds so authorized by that resolution need not be preceded by the entering into by the authority of additional contracts pursuant to Section 11-50A-17. (b) The board may by resolution or resolutions authorize the issuance of bonds. Unless otherwise provided therein, the resolution or resolutions shall take effect immediately and need not be published or posted. The board may authorize such types of bonds as it may determine, subject only to any agreement with...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50A-9.htm - 8K - Match Info - Similar pages
41-10-628
Section 41-10-628 Disposition of proceeds of bonds. (a) The authority is authorized and empowered to apply the proceeds of any bonds for any of the following purposes or uses: (1) For the purposes for which the bonds were authorized to be issued. (2) To fund any reserve fund established in connection with an authorized issue if the authority deems the establishment of such reserve fund to be necessary and desirable. (3) To pay for the cost of obtaining credit enhancement for the bonds. (4) To pay capitalized interest on the bonds. (5) To pay the costs of issuing the bonds. (6) If refunding bonds are issued pursuant to this division, to pay debt service on and the redemption price of any bonds to be refunded. (b) Pending the application of the proceeds of bonds of the authority to the purpose or purposes for which the bonds were issued, the proceeds and any monies held in funds created as security for the bonds may be invested by the authority in permitted investments, as the authority...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-628.htm - 1K - Match Info - Similar pages
11-50A-21
Section 11-50A-21 Proceeds of bonds. Proceeds of the bonds issued under authority of this chapter shall be used solely for the payment of the costs of a project or combined projects, and any other corporate purposes of the authority, and shall be disbursed upon requisition or order of the persons and under such restrictions as the resolution authorizing the issuance of the bonds or the trust agreement or indenture may provide. If the proceeds of the bonds of any issue shall exceed the amount required for the purpose for which the bonds are issued, the surplus shall be paid into the fund provided for the payment of principal of and interest on the bonds. In the discretion of the authority, bonds of a single issue or series of any issue may be issued for the purpose of paying the costs of any one or more projects, including a combination of projects. (Acts 1981, No. 81-681, p. 1114, §21.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50A-21.htm - 1K - Match Info - Similar pages
11-89B-2
Section 11-89B-2 Form, terms, denominations, etc. of bonds; execution and delivery; interest; sale; issuance of refunding bonds; liability on bonds; source of payment; use of proceeds; mortgage, deed of trust, etc., containing certain agreements. All bonds issued pursuant to the provisions of this chapter shall be signed by the chairman of the board of directors or other governing body or other chief executive officer of such public corporation and attested by its secretary and the seal of such public corporation shall be affixed thereto; provided, that a facsimile of the signatures of both of the officers whose signatures will appear on the bonds may be imprinted or otherwise reproduced thereon in lieu of being manually signed if the proceedings in which the bonds are authorized to be issued provide for the manual authentication of such bonds by a trustee, registrar or paying agent; provided further, that a facsimile of the seal of such public corporation may be imprinted or otherwise...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-89B-2.htm - 6K - Match Info - Similar pages
22-34-1
Section 22-34-1 Definitions. The following words and phrases, whenever used in this chapter, shall have the following respective meanings unless the context clearly indicates otherwise: (1) AUTHORITY. The corporation organized pursuant to the provisions of this chapter as a public corporation, agency and instrumentality of the state and known as the "Alabama Water Pollution Control Authority." (2) AUTHORIZING RESOLUTION. A resolution or order adopted by the board of directors of the authority authorizing the issuance of bonds by the authority pursuant to this chapter or by a public body. (3) BOARD OF DIRECTORS. The board of directors of the Alabama Water Pollution Control Authority. (4) BONDS. The "Water Pollution Control Bonds," notes or obligations or other evidence of indebtedness issued by the authority under the provisions of this chapter. (5) BOND PROCEEDS. The direct proceeds of sale of bonds or notes, and the income derived from the investment of such proceeds. (6) DEPARTMENT....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-34-1.htm - 2K - Match Info - Similar pages
23-1-313
Section 23-1-313 Bonds and notes - Disposition of proceeds from sale. The authority shall pay out of the proceeds from the sale of the obligations authorized by this article all expenses that the board of directors may deem necessary and advantageous in connection with the sale and issuance thereof. The proceeds from the issue of any obligations authorized by this article, (i) except the proceeds of bonds which were issued to pay principal and interest of temporary bonds or notes and in anticipation of which such temporary bonds or notes shall have been issued, and (ii) except the proceeds of refunding bonds issued to refund any outstanding obligation, remaining after paying the expenses of their sale and issuance, shall be deposited in the State Treasury, shall be credited to the Road and Bridge Fund and shall be subject to be withdrawn by the authority, upon the approval of the State Department of Transportation and the Governor, but only for the purpose of paying the federal share...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-1-313.htm - 3K - Match Info - Similar pages
33-13-12
Section 33-13-12 Bonds - Disposition of proceeds; investments. The authority shall pay out of the proceeds from the sale of any of the bonds (other than refunding bonds) those expenses which the board of directors may deem necessary or advantageous in connection with the sale or issuance thereof. The proceeds from the sale of all bonds, other than refunding bonds, remaining after paying the expenses of their sale and issuance shall be turned in to the treasury of the State Docks Department, shall be carried in a special fund therein and shall be subject to be drawn on by the State Docks Department, upon the approval of the authority, but solely for the respective purposes for which they were authorized to be issued, viz., payment of costs incurred in the development, construction, improvement, expansion and modernization (or any of them) of the state docks facilities at the Port of Mobile, as the state facilities may from time to time exist. The proceeds from the sale of any refunding...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-13-12.htm - 2K - Match Info - Similar pages
41-10-60
Section 41-10-60 Disposition of proceeds from sale of bonds and refunding bonds. (a) The authority shall pay out of the proceeds from the sale of any of the bonds all expenses, including fees of agents and attorneys and other charges, which said board of directors may deem necessary or advantageous in connection with the issuance of the bonds. The proceeds of the bonds, other than refunding bonds, remaining after paying the expenses of their issuance shall be turned over to the State Treasurer and shall be carried by him in a special account to the credit of the authority and shall be subject to be drawn on by the authority solely for the purposes of acquiring real estate suitable for the purpose of the authority in Jefferson County, Alabama, including all expenses reasonably necessary in connection with such acquisition, and erecting, constructing and equipping on such real estate exhibition halls, buildings, warehouses, storage facilities, parking areas and other structures and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-60.htm - 3K - Match Info - Similar pages
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