41-9-808
Section 41-9-808 Obligation of state not created by commission obligations. All obligations
incurred by the commission 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
of either. (Acts 1985, 2nd Ex. Sess., No. 85-945, p. 285, §9.)...
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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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41-9-353
Section 41-9-353 Bonds and other obligations to be exclusively obligations of commission; bonds
and coupons to be negotiable instruments and to constitute legal investments for banks, insurance
companies and fiduciaries; effect of recital as to issuance in resolution authorizing bonds.
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 therein. 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. Such bonds
shall constitute legal investments for savings banks and...
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22-21-78
Section 22-21-78 Borrowing by corporation. (a) All securities of the corporation shall be signed
by the chairman of its board of directors and attested by its secretary, and the seal of the
corporation shall be affixed thereto. Any interest coupons applicable to the securities of
the corporation shall be signed by the chairman of the board of directors, but a facsimile
of such chairman's signature may be impressed on any such interest coupon in lieu of his manually
signing the same. Any securities of the corporation may be executed and delivered by it at
any time and from time to time, shall be in such form and denomination and of such tenor and
maturities, shall contain such provisions not inconsistent with this section and shall bear
such rate or rates of interest payable and evidenced in such manner as may be provided by
resolution of the board of directors. (b) Any borrowing may be effected by sale of such securities
at either public or private sale in such manner and at such price...
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45-36-252.06
Section 45-36-252.06 Bonds of the authority; obligations. (a) In addition to all other powers
now or hereafter granted by law, the authority shall have the following powers, together with
all powers incidental thereto or necessary to the discharge thereof in corporate form: (1)
To sell and issue bonds of the authority in order to provide funds for any corporate function,
use, or purpose, any such bonds to be payable solely out of one or more of the following:
a. Any or all proceeds or receipts from the privilege, license, or excise tax levied on the
sale, distribution, storage, use, or consumption of tobacco and certain tobacco products in
Jackson County by Section 45-36-247. b. Any or all proceeds from any tax received by the Jackson
County Commission which are required by law to be deposited to the credit of the Jackson County
Water Authority. c. The revenues derived from any water, sewer, or garbage system or facility
of the authority. (2) To pledge for payment of any bonds issued...
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22-21-151
Section 22-21-151 Obligations not debt of state or municipality. All obligations incurred by
the authority and all bonds issued by it shall be solely and exclusively an obligation of
the authority and shall not create an obligation or debt of the State of Alabama or of the
municipality. (Acts 1961, No. 109, p. 134, §20.)...
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11-57-21
Section 11-57-21 Liability of state or municipalities on bonds and obligations of authorities.
All obligations incurred by the authority and all bonds issued by it shall be solely and exclusively
an obligation of the authority and shall not create an obligation or debt of the State of
Alabama or of the municipality. (Acts 1961, No. 895, p. 1407, §20; Acts 1961, Ex. Sess.,
No. 289, p. 2335, §20.)...
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41-9-44
Section 41-9-44 Powers of council generally; liability upon debts or obligations incurred by
council. (a) The council is hereby authorized and empowered: (1) To hold public and private
hearings; (2) To enter into contracts, within the limits of funds available therefor, with
individuals, organizations and institutions, for services furthering the educational objectives
of the council's program; (3) To enter into contracts, within the limit of funds available
therefor, with local and regional associations, for cooperative endeavors furthering the educational
objectives of the council's programs; (4) To accept public or private gifts, grants, donations
or bequests of unrestricted funds; (5) To acquire real property by lease or gift but not by
purchase; (6) To renovate, furnish and maintain such real property and to lease or sublease
the same; (7) To allocate and expend funds from all donations, income and revenue from any
source whatsoever coming into the Treasury, for the fulfillment...
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11-50-237
Section 11-50-237 Execution, sale, etc., of bonds and refunding bonds of corporation generally;
terms, denominations, etc., thereof; charge, application, etc., of revenues from systems to
payment of bonds, etc., generally; vesting of title to systems in municipality and dissolution
of corporation upon payment of bonds in full. (a) All bonds issued by any corporation organized
under this division shall be signed by the chairman of its board of directors or other chief
executive officer and attested by its secretary, and the seal of such corporation shall be
affixed thereto. Any interest coupons applicable to the bonds of such corporation shall be
signed by the chairman of the board of directors or other chief executive officer, but a facsimile
of such signature may be impressed on any such interest coupon in lieu of his manually signing
the same. Any such bonds may be executed and delivered by such corporation at any time and
from time to time, shall be in such form and denominations...
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11-86A-16
Section 11-86A-16 Application of proceeds from the sale of bonds; source of payment; pledge
of county's or municipality's credit; negotiability; exemption from taxation; pledge as security
for funds belonging to a public person; investment in bonds by fiduciaries; no public hearing
required; investment in bonds by Teachers' Retirement System of Alabama, the Employees' Retirement
System of Alabama, and the State Insurance Fund; investment in bonds by public persons. (a)
The proceeds from the sale of any bonds shall be applied as provided in the proceedings in
which the bonds are authorized to be issued, including, without limitation, the payment of
all legal, fiscal, and recording fees and expenses incurred in connection with the authorization,
sale, and issuance of the bonds and, if provided in the proceedings authorizing their issuance,
interest on the bonds (or if only a part of any issue of bonds is issued for acquisition purposes,
interest on that portion of the bonds of that issue...
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