41-10-498
Section 41-10-498 Temporary loans in anticipation of issuance of bonds. In anticipation
of issuance of bonds under this article, the authority may, from time to time, borrow such
sums as may be needed for any of the purposes for which bonds are authorized to be issued
under this article, and in evidence of the moneys so borrowed by issue of its promissory notes.
The principal of and the interest on notes so issued may, from time to time, be refunded by
refunding notes or by bonds in anticipation of the issuance of which such notes were issued.
All such notes, whether initial issues or refunding issues, may bear interest from their dates
until their maturities at such rate or rates as may be deemed acceptable by the board of directors,
not to exceed 15 percent per annum, shall mature within three years from their date, and the
principal thereof, premium, if any, and interest thereon shall be payable solely from the
proceeds of the refunding notes issued to refund any such notes...
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11-88-8
Section 11-88-8 Bonds of authority - Form, terms, denominations, etc.; sale; execution
and delivery; refunding; liability thereon; security for payment of principal and interest
and payment thereof generally; provisions in mortgages, deeds of trust or trust indentures
executed as security for payment of bonds generally. All bonds issued by the authority shall
be signed by the chairman of its board or other chief executive officer and attested by its
secretary and the seal of the authority shall be affixed thereto, and any interest coupons
applicable to the bonds of the authority shall be signed by the chairman of its board or other
chief executive officer; provided, that a facsimile of the signature of one, but not both,
of said officers may be printed or otherwise reproduced on any such bonds in lieu of his manually
signing the same, a facsimile of the seal of the authority may be printed or otherwise reproduced
on any such bonds in lieu of being manually affixed thereto and a...
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14-2-14
Section 14-2-14 Bonds - Specifications; redemption; precedence. Any bonds of the authority
may be executed and delivered by it at any time and from time to time, shall be in such form
and denominations and of such tenor and maturities, shall bear such rate or rates of interest
payable and evidenced in such manner, may contain provisions for redemption prior to maturity
and may contain other provisions not inconsistent with this section, all as may be
provided by the resolution of the board of directors whereunder such bonds are authorized
to be issued; provided, that no bond of the authority shall have a specified maturity date
later than 20 years after its date. In the event that the authority shall make more than one
pledge of the same revenues, such pledges shall, unless otherwise provided in the resolution
or resolutions authorizing the earlier issued bonds, take precedence in the order of the adoption
of the resolutions in which the pledges are made; provided, that each pledge for...
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41-10-312
Section 41-10-312 Specifications and priority of bonds. Any bonds of the authority may
be executed and delivered by it at any time and from time to time, shall be in such form and
denominations and of such tenor and maturities, shall bear such rate or rates of interest,
fixed or floating, payable and evidenced in such manner, may contain provisions for redemption
prior to maturity and may contain other provisions not inconsistent with this section,
all as may be provided by the resolution of the board of directors whereunder such bonds are
authorized to be issued; provided that no bond of the authority shall have a specified maturity
date later than 30 years after its date. In the event that the authority shall make more than
one pledge of the same revenues, such pledges shall, unless otherwise provided in the resolution
or resolutions authorizing the earlier issued bonds, take precedence in the order of the adoption
of the resolutions in which the pledges are made; provided, that each...
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9-10-36
Section 9-10-36 Issuance of bonds; issuance of notes and renewal notes; redemption of
notes or bonds; liability on notes or bonds; disposition of proceeds from sale of bonds; issuance
of interim receipts, etc. (a) Any such corporation is hereby authorized to provide by resolution
for the issuance of bonds of the corporation for any of its corporate purposes, including
the refunding of its bonds. The principal of and the interest on any issue of such bonds shall
be payable solely from, and may be secured by a pledge of, tolls, rentals, sales receipts
and other revenues of all or any part of the project or projects financed in whole or in part
with the proceeds of such bond issue or with the proceeds of bonds refunded or to be refunded
by such issue. The proceeds of any such bonds may be used or pledged for the payment or security
of the principal or of the interest on bonds and for the establishment of any or all reserves
for such payment or security or for other corporate purposes as...
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11-58-7
Section 11-58-7 Bonds - Form, terms, denominations, etc.; execution, sale, delivery,
etc.; dissolution of corporation. (a) All bonds issued by a corporation organized under authority
of this chapter shall be solely and exclusively obligations of the corporation and shall not
create an obligation or debt of any municipality or county. No county or municipality shall
pledge its faith or credit for the payment of any debt incurred or bonds issued by the corporation.
(b) Bonds may be executed and delivered at any time and from time to time, may be in the form
and denominations, may be of the tenor, may be in registered or bearer form, either as to
principal or interest or both, may be payable in installments and at a time or times, not
exceeding 40 years from their issuance date, may be payable at a place or places, may bear
interest at a rate or rates payable at a place or places and evidenced in a manner, and may
contain provisions not inconsistent with this chapter as may be provided by...
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14-2-10
Section 14-2-10 Temporary loans in anticipation of issuance of bonds. In anticipation
of issuance of bonds under this chapter, the authority may, from time to time, borrow such
sums as may be needed, not exceeding $1,000,000.00 in aggregate principal amount, for any
of the purposes for which bonds are authorized to be issued under this chapter and in evidence
of the moneys so borrowed may issue its promissory notes. The authorized principal amount
of notes that may be issued under this section shall be reduced to the extent that
bonds may be issued under this chapter. The principal of and the interest on notes so issued
may, from time to time, be refunded by refunding notes or by bonds in anticipation of the
issuance of which such notes were issued. All such notes, whether initial issues or refunding
issues, may bear interest from their dates until their maturities at such rate or rates as
may be deemed acceptable by the board of directors, not to exceed 10 percent per annum, shall...

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39-7-22
Section 39-7-22 Powers generally; consent of Department of Finance required for issuance
or sale of bonds or other evidence of indebtedness by authority. (a) Subject only to the Constitution
of the State of Alabama, each authority incorporated under this chapter shall have power:
(1) To sue and be sued; (2) To have a seal and alter the same at pleasure; (3) To acquire,
by purchase, gift, devise, lease or exercise of the power of eminent domain or other mode
of acquisition, hold and dispose of property real and personal, tangible and intangible, and
interests therein in its own name, subject to mortgages or other liens or otherwise, and to
pay therefor in cash or on credit and to secure and procure payment of all or any part of
the purchase price thereof on such terms and conditions as it shall determine; (4) To make
and enter into contracts, indentures of trust, leases and bonds; (5) To borrow money and to
issue negotiable bonds and provide for the rights of the holders thereof; (6) To...
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41-10-502
Section 41-10-502 Specifications and priority of bonds. Any bonds of the authority may
be executed and delivered by it at any time and from time to time, shall be in such form and
denominations and of such tenor and maturities, shall bear such rate or rates of interest,
fixed or floating, payable and evidenced in such manner, may contain provisions for redemption
prior to maturity and may contain other provisions not inconsistent with this section,
all as may be provided by the resolution of the board of directors whereunder such bonds are
authorized to be issued; provided that no bond of the authority shall have a specified maturity
date later than 20 years after its date. At its election, the authority may retain in the
resolution(s) under which any of the bonds are issued an option to redeem all or any thereof
and at such redemption price(s) and after such notice(s) and on such dates and on such terms
and conditions as may be set forth in said resolution(s) and as may be briefly...
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41-10-58
Section 41-10-58 Sale of bonds; public hearing or consent of Department of Finance,
etc., not a prerequisite to issuance of bonds. (a) Any of the bonds may be sold at any time
and from time to time as said board of directors may deem advantageous. The bonds must be
sold only at public sale, either on sealed bids or at public auction, to the bidder whose
bid reflects the lowest net interest cost to the authority for the bonds being sold, computed
from the date of those at the time being sold to their respective maturities; provided, that
if no bid acceptable to the authority is received, it may reject all bids. Notice of each
such sale must be given by publication in either a financial journal or a financial newspaper
published in the City of New York, New York, and also by publication in a newspaper published
in this state which is customarily published not less often than six days during each calendar
week, each of which notices must be published at least one time not less than 10...
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