9-8A-4.1
Section 9-8A-4.1 Commission - Revolving fund established; expenditure of funds; appropriation
of funds to commission. (a) There is hereby established the Alabama Agricultural and Conservation
Development Commission Revolving Fund to consist of all moneys received by the commission
from legislative appropriations or from any other source, including any and all interest earned
from such funds. Any funds remaining in the Alabama Agricultural and Conservation Development
Commission Fund at the end of any fiscal year shall remain in said fund and is hereby reappropriated
to the commission in each subsequent year. (b) The state Budget Officer shall allocate to
the commission its entire state appropriation for any fiscal year prior to January 2 of that
fiscal year. (c) The commission is hereby authorized to expend funds in the Alabama Agricultural
and Conservation Development Commission Revolving Fund to pay expenses of the commission,
to pay salaries of any personnel employed or contracted...
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11-85-109
Section 11-85-109 Administrative and recordkeeping functions of authority. (a) The Alabama
Department of Economic and Community Affairs (ADECA) Planning and Economic Development Division
shall perform the centralized administrative and recordkeeping functions for the authority.
ADECA shall ensure that grantees utilize their allocations of grant monies efficiently and
effectively as revolving loan funds, pursuant to Sections 41-23-50 and 41-23-51. The grantees
shall provide to ADECA all information regarding the disbursements of revolving loan funds,
terms and conditions of the revolving loans that are approved, jobs created, and other information
deemed necessary by the authority to assess the respective revolving loan programs of the
grantees. ADECA shall cause programmatic audits to be conducted on the utilization of revolving
loan funds by grantees upon the request of the authority. ADECA shall recommend to the Regional
Revolving Loan Policy Committee, defined in Section 41-23-51 a...
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2-2-8.1
Section 2-2-8.1 Promotion of economic and industrial development. (a) The Commissioner of the
State Department of Agriculture and Industries, or an employee designated in writing by the
commissioner, in order to promote economic and industrial development in this state, may expend
the funds of the department in such a manner as the commissioner deems appropriate to entertain
economic development prospects, to promote public relations with the prospects, and for other
public purposes. (b) All funds expended pursuant to this section shall be subject to the same
auditing and accounting procedures as used for the Alabama Development Office and the Alabama
State Port Authority for comparable functions and expenditures and as otherwise provided by
law. (Act 2007-392, p. 785, §1.)...
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45-22-90
Section 45-22-90 Community Development Commission; promulgation of rules; fund. (a) There is
created the Cullman County Community Development Commission which may receive, except as provided
in subdivision (2) of subsection (c), and by majority vote may distribute any funds in the
Community Development Fund created herein for the purposes of promoting economic and community
development, education, conservation, and fire protection. The commission shall be comprised
of the following members: (1) A person appointed by the Senator representing Cullman County
and whose term will coincide with the term of the Senator or until replacement. (2) A person
appointed by each of the three members of the House of Representatives who represent Cullman
County and whose term will coincide with the term of the appointing representative or until
replacement. A person appointed by the members of the legislative delegation from Cullman
County, who shall serve as chair and shall serve at the discretion of...
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45-30-90.01
Section 45-30-90.01 Distribution of proceeds from severed material severance tax. In Franklin
County, any funds in the severed material severance tax fund remitted to the county pursuant
to Section 40-13-58, for economic development, shall be distributed to the Franklin County
Development Authority and used exclusively for economic development. (Act 2012-453, §1.)...

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33-5A-9
Section 33-5A-9 Alabama Abandoned and Derelict Vessel Fund. (a) There is established a special
fund within the State Treasury to be known as the Alabama Abandoned and Derelict Vessel Fund.
(b) The fund shall be placed under the management or administration of the Secretary of the
Alabama State Law Enforcement Agency for payment of the cost of implementing and administering
this chapter, including, but not limited to, the cost of the seizure, removal, transportation,
preservation, storage, advertisement, appraisal, and disposal of an abandoned derelict vessel.
(c) The fund shall consist of all moneys collected or received by the secretary pursuant to
this chapter and all grants, appropriations, gifts, donations, and other sources for purposes
of implementing and administering this chapter. (d) The secretary shall have the authority
to expend moneys in the fund in accordance with this chapter. (Act 2018-179, §9.)...
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41-10-626
Section 41-10-626 Bonds of the authority. (a) General. The authority is authorized from time
to time to sell and issue its bonds in limited amounts and for the purpose of promoting economic
development and industrial recruitment as specified by the Legislature from time to time by
separate act, provided that refunding bonds may be issued by the authority pursuant to Section
41-10-627 without first obtaining separate authorization from the Legislature. (b) Sources
of payment. Bonds issued by the authority shall be solely and exclusively an obligation of
the authority and shall not create an obligation or debt of the state. Such bonds shall not
be general obligations of the authority but shall be payable solely from one or more of the
following sources: (1) Appropriated funds. (2) The income or proceeds realized by the authority
under any mortgage or security granted to the authority. (3) Amounts derived from any letter
of credit, insurance policy, or other form of credit enhancement...
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45-44-242.12
Section 45-44-242.12 Disposition of funds. One-half of the proceeds of the tax imposed under
authority of this part shall be paid into the road and bridge fund in the county treasury
for use as provided in Section 45-44-242.13 and one-half of the proceeds shall be distributed
to the Macon County Economic Development Authority. (Act 2015-414, p. 1250, § 13; Act 2015-449,
p. 1451, § 13.)...
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11-54-125
Section 11-54-125 Definitions. As used in this division, the following terms shall have the
following meanings: (1) AUTHORIZING RESOLUTION. A resolution adopted by the directors and
authorizing the execution and delivery of a trust agreement. (2) DIRECTORS. The board of directors
of an industrial development board. (3) ENDOWMENT TRUST FUND or FUND. A trust fund created
by an industrial development board pursuant to this division. (4) FUND MANAGER. Any individual,
partnership, corporation, or other person, including, without limitation, a trustee bank,
employed to manage and invest moneys held in and forming a part of an endowment trust fund
and other contributions to such fund. (5) INDUSTRIAL DEVELOPMENT BOARD or BOARD. A public
corporation now in existence or hereafter organized pursuant to the provisions of either industrial
development board act. (6) INDUSTRIAL DEVELOPMENT BOARD ACT. Act 648, 1949 Regular Session,
as amended, and Division 1 and Division 2 of this article, as...
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11-54-129
Section 11-54-129 Use of assets. (a) Subject to succeeding provisions hereof with respect to
the investment of moneys held in and forming a part of an endowment trust fund, and the management,
use, and disposition of other properties, whether real or personal, tangible or intangible,
contributed to such fund, all moneys held in and forming a part of an endowment trust fund,
whether such moneys may be characterized as either principal or income of such fund, may be
expended, and all other properties contributed to a trust fund may be used only to induce
new business, manufacturing, industrial, commercial, service, and research enterprises, whether
or not any such enterprise, or any property to be utilized in connection therewith, would
constitute a "project" within the meaning of either industrial development board
act, to locate within the statutory service area of the board that created such fund, and
to foster activities and policies conducive to the continuing prosperity of such...
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