16-18A-7
Section 16-18A-7 Revenue bonds - Creation of statutory mortgage lien; recording. Any resolution of the authority or trust indenture under which bonds may be issued pursuant to the provisions of this chapter may contain provisions creating a statutory mortgage lien in favor of the holders of such bonds and of the interest coupons applicable thereto on the property and facilities, or any part thereof (including any after-acquired property) out of the revenues from which such bonds are made payable. The said resolution of the authority of the said trust indenture may provide for the filing of record in the office of the judge of probate of each county in which any property and facilities, or any part thereof, may be located of a notice containing a brief description of such bonds and a declaration that said statutory mortgage lien has been created for the benefit of the holders of such bonds and the interest coupons applicable thereto upon such property and facilities, or any thereof,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-18A-7.htm - 1K - Match Info - Similar pages
41-10-44.6
Section 41-10-44.6 Project obligations generally. (a) Issuance of project obligations. The authority is authorized and empowered to issue its project obligations from time to time for the purpose of financing one or more projects in such aggregate principal amount as the board of directors shall determine to be necessary to provide for all or a portion of the project costs of the project or projects being financed and to pay the expenses of issuing the project obligations. (b) Source of payment. All project obligations issued by the authority shall be limited obligations of the authority payable solely from any combination of the following: (1) The revenues and receipts of the authority derived from the financing agreement or agreements entered into by the authority with respect to the project or projects financed by such project obligations; (2) the income or proceeds realized by the authority under any mortgage or other security granted to the authority; (3) amounts derived from any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-44.6.htm - 7K - Match Info - Similar pages
45-29-90.12
Section 45-29-90.12 Rates, fees, and charges for services. (a) Rates, fees, and charges for services rendered by the authority from any of its facilities shall be fixed and from time to time revised by the authority; provided, that such rates, fees, and charges shall be so fixed as at all times to provide funds at least sufficient to do all of the following: (1) To pay the cost of operating, maintaining, repairing, replacing, extending, and improving the facilities and other property from which such services are rendered. (2) To pay the principal of and the interest on all bonds issued and obligations assumed by it, the authority, that are payable out of the revenues derived from the operation of those facilities, as the principal and interest become due and payable. (3) To create and maintain such reserves for the foregoing purposes or any of them as may be provided in any mortgage and deed of trust or trust indenture executed by the authority hereunder or in any resolutions of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-29-90.12.htm - 2K - Match Info - Similar pages
8-6-110
Section 8-6-110 Definitions. The following words and phrases, as used in this article, shall have the following meanings: (1) AUTHORIZING ACT. Any of the following statutes or acts: a. Any of the following sections, as amended: Section 11-20-1 et seq., relating to industrial revenue bonds to be issued by counties; Section 11-54-20 et seq., relating to industrial revenue bonds to be issued by municipalities; Section 11-54-80 et seq., relating to industrial revenue bonds to be issued by municipal industrial development boards; Section 11-58-1 et seq., relating to industrial revenue bonds to be issued by municipal medical clinic boards, Section 22-21-170 et seq., relating to industrial revenue bonds to be issued by county and municipal hospital authorities; and Section 11-20-30 et seq., relating to industrial revenue bonds to be issued by county industrial development boards. b. The following acts of the Alabama Legislature: Act No. 4, enacted at the 1956 Second Special Session of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-6-110.htm - 5K - Match Info - Similar pages
11-88-12
Section 11-88-12 Establishment and revision of rates, fees, and charges for services rendered by authority; applicability of provisions of section to authority organized to construct and operate sewer system. (a) Rates, fees, and charges for water service, sewer service, and fire protection service rendered by the authority from any of its water systems, sewer systems, or fire protection facilities shall be so fixed and from time to time revised as at all times to provide funds at least sufficient to: (1) Pay the cost of operating, maintaining, repairing, replacing, extending and improving the systems and facilities, or either, from which such services are rendered; (2) Pay the principal of and the interest on all bonds issued and obligations assumed by the authority that are payable out of the revenues derived from operation of those systems and facilities as the said principal and interest become due and payable; (3) Create and maintain such reserves for the foregoing purposes or any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-88-12.htm - 2K - Match Info - Similar pages
11-89-12
Section 11-89-12 Establishment and revision of rates, fees, and charges for services rendered by district. Rates, fees, and charges for water service, sewer service, and fire protection service rendered by the district from any of its water systems, sewer systems or fire protection facilities shall be so fixed and from time to time revised as at all times to provide funds at least sufficient to: (1) Pay the cost of operating, maintaining, repairing, replacing, extending, and improving the systems and facilities or either from which such services are rendered; (2) Pay the principal of and the interest on all bonds issued and obligations assumed by the district that are payable out of the revenues derived from operation of those systems and facilities as the said principal and interest become due and payable; (3) Create and maintain such reserve for the foregoing purposes or any of them as may be provided in any mortgage and deed of trust or trust indenture executed by the district under...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-89-12.htm - 1K - Match Info - Similar pages
16-18A-6
Section 16-18A-6 Revenue bonds - Contracts to secure payment. As security for payment of the principal and interest on bonds issued or obligations assumed by it, the authority may enter into a contract or contracts binding itself for the proper application of the proceeds of bonds and other funds, for the continued operation and maintenance of any property and facilities, owned or controlled and operated by it or under its authority or any part or parts thereof, for the imposition and collection of reasonable rates and rentals for and the promulgation of reasonable regulations respecting the use of property and facilities of the authority and any service furnished therefrom, for the disposition and application of its gross revenues or any part thereof and for any other act or series of acts not inconsistent with the provisions of this chapter for the protection of the bonds and other obligations being secured and the assurance that revenues from such property and facilities will be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-18A-6.htm - 2K - Match Info - Similar pages
41-9-962
Section 41-9-962 Authority to issue revenue bonds; purposes; redemption; maturity date limitation; public or private sale; obligations of project not state; security. (a) The commission shall have the power and authority to issue and sell at any time its revenue bonds for the purpose of providing funds to acquire, transport, outfit, renovate, maintain, improve, and berth the items relevant to the Tuskegee Airmen and other related historic artifacts and to construct, improve, enlarge, complete, maintain, operate, and equip the museum established in this article and for the payment of obligations incurred. (b) The principal of and interest on any bonds shall be payable solely out of the revenues derived from the project. All bond service payments shall be subordinate to the acquisition, establishment, and maintenance of a reasonable maintenance and operating fund. (c) Any bonds of the commission may be delivered by the commission at any time and shall be in such form and denominations...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-9-962.htm - 2K - Match Info - Similar pages
11-50-351
Section 11-50-351 Establishment, collection, etc., of rates, fees, and charges for services furnished. (a) The board is hereby authorized to fix and revise from time to time rates, fees, and other charges for the use of and for the services furnished or to be furnished by any water system, sewer system, or sewage disposal system or parts thereof owned, operated, or maintained by the board. Such rates, fees and charges shall be so fixed and revised as to provide funds sufficient at all times: (1) To pay the cost of maintaining, repairing, and operating such system or systems or parts thereof; (2) To pay the principal of and the interest on all bonds and obligations assumed by the board, including any bonds issued to refund the same, as the same shall become due and payable; (3) To pay the principal of and the interest on all revenue bonds issued by the board under the provisions of this article as the same shall become due and payable; (4) To create and maintain such reserves for the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50-351.htm - 3K - Match Info - Similar pages
41-10-142
Section 41-10-142 Bonds - Issuance; form, terms, denominations, etc.; sale; refunding bonds; negotiable; security for payment. All bonds issued by an authority may be executed by such officers of the authority and in such manner as shall be provided in the proceedings of the board whereunder the bonds shall be authorized to be issued. Any such bonds may be executed and delivered by an authority at any time and from time to time, shall be in such form and denominations and of such tenor and maturities, shall contain such provisions not inconsistent with the provisions of this article and shall bear such rate or rates of interest, payable and evidenced in such manner as may be provided by resolution of its board. Bonds of an authority may be sold at either public or private sale in such manner and at such price or prices and at such time or times as may be determined by the board to be most advantageous. The principal of or interest on any bonds issued or obligations assumed by an...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-142.htm - 4K - Match Info - Similar pages
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