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41-10-282
Section 41-10-282 Bonds are lawful security for state deposits; investment of state, retirement,
and other fiduciary funds in bonds of authority. Any bonds issued by the authority may be
used by the holders thereof as security for deposits of any funds belonging to the state or
to any instrumentality, agency or political subdivision of the state in any instance where
security for such deposits may be required or permitted by law. Any surplus in any state fund
and any retirement or trust fund, where the investment thereof is permitted or required by
law, may be invested in bonds issued by the authority. Unless otherwise directed by the court
having jurisdiction thereof, or the document that is the source of authority, a trustee, executor,
administrator, guardian, or one acting in any other fiduciary capacity may, in addition to
any other investment powers conferred by law and with the exercise of reasonable business
prudence, invest trust funds in the bonds of the authority. (Acts 1986,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-282.htm - 1K - Match Info - Similar pages
41-10-633
Section 41-10-633 Notice and hearing not required. Except as may be expressly provided in this
division, no proceeding, notice, or approval shall be required for the issuance of any bonds
by the authority, the execution of any mortgage and deed of trust, trust indenture, or other
document, or the exercise of any other of the powers of the authority. Neither a public hearing
nor the consent of the Department of Finance shall be prerequisite to the issuance of bonds
by the authority. (Act 99-353, p. 538, §14.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-633.htm - 821 bytes - Match Info - Similar pages
11-92A-23
Section 11-92A-23 Special reserve funds and applications for appropriations. (a) In addition
to all other powers at any time conferred upon an authority by law, an authority may, in connection
with the issuance of any bonds hereunder, create and establish one or more special debt service
reserve funds (a "debt service reserve fund"), and may pay or cause to be paid into
each debt service reserve fund (i) proceeds from bonds issued pursuant hereto to the extent
provided by the authority authorizing the issuance thereof; (ii) any moneys appropriated and
made available by the Legislature for the purpose of such fund; and (iii) any other moneys
that may be made available to the authority from any other source for the purpose of such
fund. All moneys held in a debt service reserve fund shall be used solely for the payment
of the principal of, premium, if any, and interest on bonds secured, in whole or in part,
by that fund when and as the same become due and payable as provided in the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-92A-23.htm - 7K - Match Info - Similar pages
11-99B-17
Section 11-99B-17 Provisions of chapter as to incorporation of district, acquisition of property,
issuance of bonds, exclusive; jurisdiction over and regulation of district, by State Board
of Health, Public Service Commission. Except as expressly otherwise provided in this chapter,
no proceeding, notice, or approval shall be required for the incorporation of any district
or the amendment of its certificate of incorporation, the acquisition of any property or project,
or the issuance of any bonds, or trust indenture; provided, however, that nothing contained
in this section shall be construed to exempt any district from the jurisdiction of the State
Board of Health. The district, every project of the district, and the rates, rentals, fees,
licenses, and charges thereof shall be exempt from all jurisdiction of and all regulation
and supervision by the Public Service Commission and neither a public hearing nor the consent
of the State Department of Finance shall be prerequisite to the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-99B-17.htm - 1K - Match Info - Similar pages
9-10-38
Section 9-10-38 Security for bonds. (a) At the discretion of the corporation, any bonds issued
under the provisions of this article may be secured by a trust agreement by and between the
corporation and a corporate trustee, which may be any trust company or bank having the powers
of a trust company within or without the state. The trust agreement or the resolution providing
for the issuance of such bonds, subject to the provisions of Section 9-10-35, may pledge or
assign tolls, rentals, sales receipts or other revenues to which the corporation's right then
exists or which may thereafter come into existence and the moneys derived therefrom and the
proceeds of such bonds; provided, however, that the trust agreement or resolution shall not
convey or mortgage any project or any part thereof. (b) Such trust agreement or resolution
providing for the issuance of bonds may contain such provisions for protecting and enforcing
the rights and remedies of the bondholders as may be reasonable and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-10-38.htm - 4K - Match Info - Similar pages
11-89-19
Section 11-89-19 Provisions of chapter as to incorporation of district, acquisition of property,
issuance of bonds, etc., exclusive; jurisdiction over and regulation of district, etc., by
State Board of Health, Public Service Commission, etc. Except as expressly otherwise provided
in this chapter, no proceeding, notice, or approval shall be required for the incorporation
of any district or the amendment of its certificate of incorporation, the acquisition of any
property, water system, sewer system, or fire protection facility or the issuance of any bonds,
mortgage and deed of trust or trust indenture; provided, however, that nothing contained in
this section shall be construed to exempt any district from the jurisdiction of the State
Board of Health. The district, every water system, sewer system, or fire protection facility
of the district and the rates and charges thereof shall be exempt from all jurisdiction of
and all regulation and supervision by the Public Service Commission and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-89-19.htm - 1K - Match Info - Similar pages
23-2-143
Section 23-2-143 Authority established; composition; meetings; fidelity bonds; compensation.
(a) There is hereby established a body corporate and politic with corporate succession, to
be known as the "Alabama Toll Road, Bridge and Tunnel Authority." The authority
is hereby constituted an instrumentality exercising public and essential governmental functions
and the exercise by the authority of the powers conferred by this article shall be deemed
and held to be an essential governmental function of the state. (b) The authority shall consist
of the Governor or his or her designee, the Lieutenant Governor or his or her designee, the
Speaker of the House of Representatives or his or her designee, the Director of Transportation,
the Director of Finance, the Chair of the House Government Appropriations Committee, the Chair
of the Senate Finance and Taxation General Fund Committee, and two persons from the state
at large to be appointed by the Governor. (c) The Governor shall be chairman of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-2-143.htm - 3K - Match Info - Similar pages
11-50-346
Section 11-50-346 Execution of trust agreement as security for payment of revenue bonds authorized;
provisions in trust agreements or resolutions for issuance of bonds generally. In the discretion
of the board, any revenue bonds issued under the provisions of this article may be secured
by a trust agreement by and between the board and a corporate trustee, which may be any trust
company or bank having the powers of a trust company within or without the state. Such trust
agreement or resolution providing for the issuance of such bonds may pledge or assign the
revenues to be received, but shall not convey or mortgage any water system or sewer system
or any part thereof. Such trust agreement or resolution providing for the issuance of such
bonds may contain such provisions for protecting and enforcing the rights and remedies of
the bondholders as may be reasonable and proper and not in violation of law, including covenants
setting forth the duties of the board in relation to the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50-346.htm - 3K - Match Info - Similar pages
16-18A-5
Section 16-18A-5 Revenue bonds - Issuance; negotiable, forms, terms, etc.; refunding bonds;
security. The authority shall have power and is hereby authorized from time to time to provide
by resolution for the issuance of negotiable revenue bonds for the purpose of paying all or
any part of the cost as herein defined of any of its projects. Such bonds may also be issued
to pay off, refund or refinance any outstanding bonds or other obligation of any nature owed
by the authority, whether or not such revenue bonds or other obligations shall then be subject
to redemption, and the authority may provide for such arrangements as it may determine for
the payment and security of the revenue bonds being issued or for the payment and security
of the revenue bonds or other obligations to be paid off, refunded or refinanced. The principal,
premium, if any, and interest of such revenue bonds shall be payable solely from the revenues,
receipts and earnings to be received by the authority in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-18A-5.htm - 5K - Match Info - Similar pages
41-10-44.14
Section 41-10-44.14 No notice, approval, public hearing required for issuance of obligations.
Except as may be expressly provided in this article, no proceeding, notice or approval shall
be required for the issuance of any project obligations, the execution of any mortgage and
deed of trust, trust indenture or other document or the exercise of any other of the powers
of the authority. Neither a public hearing nor the consent of the state Department of Finance
shall be prerequisite to the issuance of project obligations by the authority. (Acts 1993,
1st Ex. Sess., No. 93-851, p. 79, §1.)...
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