11-89-7
specified in its certificate of incorporation; (2) To sue and be sued in its own name in civil actions, except as otherwise provided in this chapter, and to defend civil actions against it; (3) To adopt and make use of a corporate seal and to alter the same at pleasure; (4) To adopt and alter bylaws for the regulation and conduct of its affairs and business; (5) To acquire, receive, and take, by purchase, gift, lease, devise, or otherwise, and to hold property of every description, real, personal, or mixed, whether located in one or more counties or municipalities and whether located within or outside the service area; (6) To make, enter into, and execute such contracts, agreements, leases, and other instruments and to take such other actions as may be necessary or convenient to accomplish any purpose for which the district was organized or to exercise any power expressly granted under this section; (7) To plan, establish, develop, acquire, purchase, lease, construct, reconstruct,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-89-7.htm - 11K - Match Info - Similar pages
45-8-90
as security therefor its assets, and anticipated revenues; (8) to maintain civil actions and have civil actions maintained against it and to defend civil actions against it; (9) to adopt and alter bylaws for the regulation and conduct of its affairs and business; (10) to acquire, receive, and take title to, by purchase, gift, lease, devise, or otherwise, to hold, keep, and develop and to transfer, convey, lease, assign, or otherwise dispose of property of every kind and character, real, personal, and mixed, and any and every interest therein, located within the area of operation of the council, to any person; (11) to make, enter into, and execute such contracts, agreements, leases, and other legal arrangements and to take such steps and actions as may be necessary or convenient in the furtherance of any purpose or the exercise of any power provided or granted to it by law; (12) to borrow money for any council purpose, function, or use and to issue in evidence of the borrowing,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-8-90.htm - 12K - Match Info - Similar pages
11-32-11
Section 11-32-11 Statutory mortgage lien. A resolution of the board or trust indenture under which bonds may be issued pursuant to this chapter may contain provisions creating a statutory mortgage lien, in favor of the holders of the bonds, on the transit systems, or including any after-acquired property out of the revenues from which the bonds are made payable. The resolution of the board or the trust indenture may provide for the filing for record in the office of the judge of probate of each county in which a part of the transit system may be located of a notice containing a brief description of the systems, a brief description of the bonds, and a declaration that the statutory mortgage lien has been created for the benefit of the holders of the bonds, upon the systems, including any additions to a system and extensions of a system. Each judge of probate shall receive, record, and index any notice filed for record in his or her office. The recording of the notice shall operate as...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-32-11.htm - 1K - Match Info - Similar pages
11-49B-11
Section 11-49B-11 Statutory mortgage lien. The resolution of the board or trust indenture that provides for the issuance of bonds may contain provisions creating a statutory mortgage lien, in favor of the holders of the bonds and of the interest coupons on the transit systems, including any after acquired property out of the revenues from which the bonds are made payable. The resolution of the board or the trust indenture may provide for the filing for record in the office of the judge of probate of each county in which any part of the transit system may be located of a notice containing a brief description of the systems, a brief description of the bonds, and a declaration that the statutory mortgage lien has been created for the benefit of the holders of the bonds and the interest coupons applicable to the bonds upon the systems, including any additions or extensions to the system. Each judge of probate shall receive, record, and index the notice filed for record in his or her...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-49B-11.htm - 1K - Match Info - Similar pages
11-54-89
Section 11-54-89 Bonds - Form, terms, denominations, etc.; execution, sale, delivery, redemption, etc.; refunding of bonds. All bonds issued by the industrial development board shall be payable solely out of the revenues and receipts derived from the leasing or sale by the board of its projects or of any thereof as may be designated in the proceedings of the board of directors under which the bonds shall be authorized to be issued. Such bonds may be executed and delivered by the board at any time and from time to time, may be in such form and denominations and of such tenor and maturities, may be in registered or bearer form either as to principal or interest or both, may be payable in such installments and at such time or times, not exceeding 40 years from the date thereof, may be payable at such place or places whether within or without the State of Alabama, may bear interest at such rate or rates payable at such time or times and at such place or places and evidenced in such manner,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54-89.htm - 4K - Match Info - Similar pages
11-22-9
Section 11-22-9 Bond issues - Funds for payment; execution; form; redemption; sale; refunding; negotiable instruments. (a) All bonds issued by the corporation shall be payable solely out of the revenues and receipts derived from the operation, leasing or sale by the corporation of its projects or of any thereof as may be designated in the proceedings of the board of directors under which the bonds shall be authorized to be issued. (b) Such bonds may be executed and delivered by the corporation at any time and from time to time, may be in such form and denominations and of such tenor and maturities, may be in registered or bearer form either as to principal or interest or both, may be payable at such time or times not exceeding 40 years from the date thereof, may be payable at such place or places whether within or without the State of Alabama, may bear interest at such rate or rates payable at such time or times and at such place or places and evidenced in such manner, may be executed...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-22-9.htm - 4K - Match Info - Similar pages
11-60-9
Section 11-60-9 Bonds - Form, terms, denominations, etc.; execution, sale, delivery, redemption, etc.; refunding of bonds. All bonds issued by the corporation shall be payable solely out of the revenues and receipts derived from the operation, leasing or sale by the corporation of its projects or of any thereof as may be designated in the proceedings of the board of directors under which the bonds shall be authorized to be issued. Such bonds may be executed and delivered by the corporation at any time and from time to time, may be in such form and denominations and of such tenor and maturities, may be in registered or bearer form either as to principal or interest or both, may be payable at such time or times, not exceeding 40 years from the date thereof, may be payable at such place or places whether within or without the State of Alabama, may bear interest at such rate or rates payable at such time or times and at such place or places and evidenced in such manner, may be executed by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-60-9.htm - 4K - Match Info - Similar pages
41-10-64
Section 41-10-64 Special and continuing trust fund for payment of principal and interest on bonds of authority and maintenance, etc., of facilities thereof. For the purpose of providing funds for the payment of the costs and expenses necessary to accomplish the purpose of this authority and for the payment of the principal of and interest on any bonds issued by the authority under the provisions of this article, there is hereby created and irrevocably pledged to the payment of such obligations a special and continuing trust fund which shall consist of all revenues, receipts and income from rents contracted for and received by the authority and all revenues, receipts and income received by the authority from any other source whatsoever. There shall be created within said special and continuing trust fund a reserve fund account of said authority in the State Treasury, in which shall be placed as a trust fund and held separate and apart from all other moneys of the state or of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-64.htm - 2K - Match Info - Similar pages
11-20-39
Section 11-20-39 Bonds - Security for payment of principal and interest; remedies upon default. The principal of and interest on any bonds issued by the corporation shall be secured by a pledge of the revenues and receipts out of which the same shall be made payable and may be secured by a mortgage covering all or any part of the projects from which the revenues or receipts so pledged may be derived, including any enlargements of and additions to any such projects thereafter made. The resolution under which the bonds are authorized to be issued and any such mortgage may contain any agreements and provisions respecting the maintenance of the projects covered thereby, the fixing and collection of fees, rates, tolls and charges for the services, facilities and accommodations furnished by the corporation and of the rents for any portions thereof leased by the corporation to others, the creation and maintenance of special funds from such revenues and the rights and remedies available in the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-20-39.htm - 1K - Match Info - Similar pages
11-89B-4
Section 11-89B-4 Resolution of board of directors, etc., or trust indenture containing provisions creating statutory mortgage lien. Any resolution of the board of directors or other governing body of such public corporation 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, on the water, sewer and garbage systems or other revenue-producing and facilities or any thereof (including any after-acquired property) out of the revenues from which such bonds are made payable. The said resolution of the board of directors or other governing body of such public corporation or the said trust indenture may provide for the filing for record in the office of the judge of probate of each county in which any part of such water, sewer and garbage systems or other revenue-producing facilities or any thereof may be located of a notice containing a brief description...
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