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41-10-551
Section 41-10-551 Manner of ownership, operation, leasing, and disposition of facilities financed
by authority. No authority obligations shall be incurred with respect to any training facility
and no funds of the authority shall be applied to payment of training facility management
fees pursuant to Section 41-10-550 unless the following conditions are met: (1) Subject to
subdivisions (3), (4), and (5) of this subsection, in the case of any training facility financed
in whole or in part through the issuance of bonds of the authority, title to the financed
property shall be acquired in the name of, or transferred promptly after acquisition to, the
authority and the title shall remain in the authority. (2) Subject to subdivisions (3), (4),
and (5) of this subsection, in the case of any training facility financed in whole or in part
through the issuance of authority-guaranteed obligations, title to the financed property shall
be acquired in the name of, or transferred promptly after...
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41-10-552
Section 41-10-552 Publication of notice; time limitation on actions contesting proceedings,
validity of obligations, etc. Upon the adoption by the directors of any resolution providing
for the issuance of authority obligations, the authority may, in its discretion, cause to
be published once a week for two consecutive weeks, in newspapers published or having a general
circulation in the Cities of Birmingham, Montgomery, Huntsville, and Mobile, a notice in substantially
the following form (the blanks being properly filled in) at the end of which shall be printed
the name and title of either the president or the secretary of the authority: "Alabama
Incentives Financing Authority, a public corporation under the laws of the State of Alabama,
on the ___ day of _____, authorized the issuance of $ ______ principal amount of bonds (a
guaranty agreement securing $ _____ principal amount of bonds of ___) for purposes authorized
in Title 41, Chapter 10, Article 16, Division 1 of the Code...
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41-9-963
Section 41-9-963 Bonds and obligations solely and exclusively commission's; resolution recital.
(a) All obligations incurred by the commission and all bonds issued by it shall be solely
and exclusively an obligation of the commission and shall not create an obligation or debt
of the State of Alabama or any county or municipality. (b) All bonds issued by the commission,
while not registered, shall be construed to be negotiable instruments even though they are
payable from a limited source. All coupons applicable to any bonds issued by the commission,
while the applicable bonds are not registered as to both principal and interest, shall likewise
be construed to be negotiable instruments although payable from a limited source. Bonds shall
constitute legal investments for savings banks and insurance companies organized under the
laws of the state; and, unless otherwise directed by the court having jurisdiction or the
document that is the source of authority, a trustee, executor,...
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45-37-90.08
Section 45-37-90.08 Authority to borrow money; promissory notes. Each civic center authority
heretofore or hereafter incorporated in any county having a population of more than 500,000,
according to the last or any subsequent federal census, pursuant to Sections 45-37-90 to 45-37-90.07,
inclusive, is hereby granted the power and authority, in addition to the power and authority
heretofore granted by act of the Legislature or by amendment to the constitution, to borrow
money from time to time for any corporate purpose and to issue its negotiable promissory note
or notes to mature not later than three years from date of issue, as evidence of its obligation
to repay the money so borrowed, with interest thereon, such notes to be payable solely (1)
from one or more of the sources from which bonds authorized by Sections 45-37-90 to 45-37-90.07,
inclusive, or by Amendment 280 to the Constitution of Alabama of 1901, are payable and, if
the note or notes shall be issued to provide funds for a...
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11-47-224
Section 11-47-224 Bonds of an authority - Payment out of revenues; security for payment; mortgages,
security interests, or assignments as security for payment. (a) Any bonds issued by an authority
shall be revenue bonds and shall be payable solely out of the revenues of the authority as
may be designated in the proceedings of the board under which the bonds are authorized to
be issued. (b) As security for payment of the principal of and interest on any bonds issued
or assumed by it, an authority may enter into a contract or contracts, and adopt resolutions
or other proceedings containing provisions constituting a part of the contract or contracts
with the holders of the bonds, pertaining to, among other things, the following: (1) Pledging
all or any part of the revenues of the authority to secure the payment of the bonds. (2) Pledging,
assigning, or mortgaging all or any part of the assets of the authority to secure the payment
of the bonds. (3) The creation of reserve, sinking, or...
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11-81-51
Section 11-81-51 Purposes for which bonds may be issued. All municipalities shall have full
and continuing power and authority within the limits of the Constitution now in effect or
that may be hereafter provided to issue and sell bonds (when such issue is authorized by an
election as provided in this article if such election is required by the Constitution, but
without an election if an election is not so required) for the following named purposes: (1)
For the purpose of constructing, reconstructing, enlarging or extending public buildings,
sewers, streets, alleys, bridges and public schoolhouses and buildings and of constructing
or acquiring by purchase or otherwise water, electric light, electric power and gas plants
and systems or any two or more such plants or systems combined, including transmission and
distribution systems, and of constructing enlargements and extensions to any such plants or
systems; (2) For the purchase of real estate necessary for any improvement authorized...
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22-27-3
Section 22-27-3 Authority of local governing bodies as waste collections and disposal; household
exemptions; state regulatory program. (a) Generally. (1) The county commission or municipal
governing body may, and is hereby authorized to, make available to the general public collection
and disposal facilities for solid wastes in a manner acceptable to the department. The county
commission or municipal governing body may provide such collection or disposal services by
contract with private or other controlling agencies and may include house-to-house service
or the placement of regularly serviced and controlled bulk refuse receptacles within reasonable
(generally less than eight miles) distance from the farthest affected household and the wastes
managed in a manner acceptable to the department. (2) Any county commission or municipal governing
body providing services to the public under this article shall have the power and authority
by resolution or ordinance to adopt rules and...
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33-2-212
Section 33-2-212 Report attesting to actual deficiency; adjustment of amount previously transferred;
transfer to State General Fund. Within 20 days after the close of any quarter of any fiscal
year during which moneys have been transferred and paid to the Alabama State Port Authority
pursuant to a notification of expected deficiency as described in Section 33-2-211, a written
report shall be filed by the Director of the Alabama State Port Authority with the Director
of Finance supported by such documentation as may be deemed appropriate by the Director of
Finance, attesting to the amount of the actual deficiency, if any, incurred during that quarter
by the Alabama State Port Authority respecting its facilities, computed by subtracting the
sum of the revenues actually derived by the Alabama State Port Authority from the operation
of its facilities for that quarter and those moneys actually made available during that quarter
to the Alabama State Port Authority pursuant to Section...
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4-3-54
Section 4-3-54 Bonds - Security for payment of principal and interest. 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, rents, income or funds 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...
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41-29-504
Section 41-29-504 Details respecting the bonds. The bonds of the authority shall be signed
by its president and attested by its secretary, and the seal of the authority shall be affixed
thereto or a facsimile of such seal shall be printed or otherwise reproduced thereon; provided,
that: (a) a facsimile of the signature of one, but not both, of the officers may be printed
or otherwise reproduced on any such bonds in lieu of being manually subscribed thereon, and
(b) a facsimile of the signatures of both of the officers may be printed or otherwise reproduced
on such bonds in lieu of being manually affixed thereof if the authority, in its proceedings
with respect to issuance of the bonds, provides for manual authentication of such bonds and
the secretary designates a trustee or paying agent or named individuals who are employees
of the state and who are assigned to the finance department or the state treasurer's office
of the state to authenticate the bonds. Any bonds of the authority may...
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