22-21-130
Section 22-21-130 Definitions. For the purposes of this article, unless otherwise indicated, the following terms shall have the meanings respectively ascribed to them by this section: (1) AUTHORITY. A corporation organized pursuant to the provisions of this article. (2) BOARD. The board of directors of the authority. (3) BOND. Any bond issued under the provisions of this article, including refunding bonds. (4) COUNTY. That county in which the certificate of incorporation of the authority shall be filed for record. (5) COUPON. Any interest coupon evidencing an installment of interest payable with respect to a bond. (6) FISCAL YEAR. A fiscal year of the municipality. (7) GOVERNING BODY. The council, board of commissioners or other like body in which the legislative functions of the municipality are vested by law. (8) INDENTURE. A mortgage, an indenture of mortgage, deed of trust or trust indenture executed by the authority as security for any bonds. (9) LEASE AGREEMENT. Any agreement of...
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45-25-250.06
Section 45-25-250.06 Contracts of the authority. As security for payment of the principal of and interest on bonds 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 water, sewer, or garbage system owned by it or any part or parts thereof, for the imposition and collection of reasonable rates for and the promulgation of reasonable regulations respecting any service furnished from any such system or facility, 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 this article for the protection of the bonds and other obligations being secured and the assurance that the revenues from such system or facility will be sufficient to operate such system or facility, maintain the same in good repair and in good operating condition, pay the...
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45-29-140.07
Section 45-29-140.07 Power to contract. (a) As security for payment of the principal of and interest on bonds 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 water system and fire protection facilities owned by it or any part or parts thereof, for the imposition and collection of reasonable rates for and the promulgation of reasonable regulations respecting any service furnished from any such system or facility, 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 this article for the protection of the bonds and other obligations being secured and the assurance that the revenues from such system or facility will be sufficient to operate such system or facility, maintain the same in good repair and in good operating condition, pay the...
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45-30-250.07
Section 45-30-250.07 Contracts of the authority. (a) As security for payment of the principal of and interest on bonds or obligations assumed by it, the authority may enter into any contract binding itself for the proper application of the proceeds of bonds and other funds, for any of the following purposes: (1) The continued operation and maintenance of any water system owned by it, or any part or parts thereof. (2) The imposition and collection of reasonable rates for, and the promulgation of reasonable regulations respecting any service furnished from any system or facility. (3) The disposition and application of its gross revenues or any part thereof. (4) Any other act or series of acts necessary for the protection of the bonds and other obligations being secured and the assurance that the revenues from the system or facility shall be sufficient to operate and maintain the system or facility, pay the principal of and interest on any bonds payable from the revenues, and maintain...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-30-250.07.htm - 1K - Match Info - Similar pages
45-38-141.07
Section 45-38-141.07 Power to contract. (a) As security for payment of the principal of and interest on bonds 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 water system and fire protection facilities owned by it or any part or parts thereof, for the imposition and collection of reasonable rates for and the promulgation of reasonable regulations respecting any service furnished from any such system or facility, 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 this part for the protection of the bonds and other obligations being secured and the assurance that the revenues from such system or facility will be sufficient to operate such system or facility, maintain the same in good repair and in good operating condition, pay the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-38-141.07.htm - 1K - Match Info - Similar pages
45-47-250.07
Section 45-47-250.07 Contracts of the authority. (a) As security for payment of the principal of and interest on bonds 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 water system and fire protection facilities owned by it or any part or parts thereof, for the imposition and collection of reasonable rates for and the promulgation of reasonable regulations respecting any service furnished from any such system or facility, 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 this article for the protection of the bonds and other obligations being secured and the assurance that the revenues from such system or facility will be sufficient to operate such system or facility, maintain the same in good repair and in good operating...
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11-22-8
Section 11-22-8 Powers generally; projects partially within county. (a) The corporation shall have the following powers together with all powers incidental thereto or necessary for the performance of those hereinafter stated: (1) To have succession by its corporate name for the period specified in the certificate of incorporation unless sooner dissolved as hereinafter provided; (2) To sue and be sued and to prosecute and defend in any court having jurisdiction of the subject matter and of the parties; (3) To have and to use a corporate seal and to alter the same at pleasure; (4) To acquire, whether by purchase, construction, exchange, gift, lease, or otherwise, to improve, maintain, equip, furnish, own, and operate one or more projects, including all real and personal properties which the board of directors of the corporation may deem necessary in connection therewith and regardless of whether or not any such projects or any part thereof shall then be in existence; (5) To fix,...
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11-49B-10
Section 11-49B-10 Contracts to secure bonds and assumed obligations. As security for payment of the principal of and the interest on bonds issued or obligations assumed by it, the authority may do the following: (1) 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 transit system owned by it, or any part of the system. (2) Impose and collect reasonable rates for any service furnished by the system. (3) Promulgate rules and regulations respecting any service furnished by the system. (4) Provide for the disposition and application of its gross revenues received by the system. (5) Do any act or series of acts not inconsistent with this chapter for the protection of the bonds and other obligations being secured by the authority. (6) Assure that the revenues derived from the system, when added to all other moneys of the authority, will be sufficient to operate and maintain...
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11-50-10
Section 11-50-10 Provision in mortgages or deeds of trust as to franchise right, etc., of purchaser at foreclosure sale. Such mortgages or deeds of trust may provide that in the event of the foreclosure of such mortgage or deed of trust the purchaser at such foreclosure sale may acquire the right, privilege, and franchise of operating such plants or systems as may be so sold or conveyed, and such purchaser or his vendee may have the right, authority, and privilege to carry on and operate such business, plant, or system in the same manner, on the same terms, and to the same extent as the cities or towns are now authorized to operate until the city or town may redeem such plants or systems from such mortgage sale. (Acts 1921, Ex. Sess., No. 8, p. 6; Code 1923, §2008; Code 1940, T. 37, §369.)...
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11-54-88
Section 11-54-88 Additional powers as to pollution control facilities. (a)(1) In addition to all other powers at any time conferred on them by law, each industrial development board shall have the following powers: a. To acquire, whether by construction, purchase, exchange, gift, lease, or otherwise and to enlarge, improve, replace, equip, and maintain one or more pollution control facilities, including all real and personal properties deemed necessary or desirable in connection therewith, including the sale and issuance of bonds for any of the said purposes; b. To lease to others and otherwise dispose of all or any portion of any pollution control facility; and c. To exercise with respect to any pollution control facility and each part thereof any and all powers that are conferred on industrial development boards by other provisions of this division. Each pollution control facility so acquired by any industrial development board may be a part of another project or may constitute a...
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