11-50-265
Section 11-50-265 Transfer of gas plant or system to waterworks board; sale or transfer of
plant or system by board to utility regulated by state Public Service Commission. (a) Every
city or town now or hereafter owning and operating a municipal gas plant or distribution system
and in which municipality a waterworks board is now or hereafter incorporated under the provisions
of Division 1 of this article is hereby authorized to transfer and convey such gas plant or
system or both to such waterworks board pursuant to the provisions of an ordinance theretofore
duly enacted by the governing body of such city or town and without the necessity of authorization
at an election of the qualified voters thereof; provided, that if at the time of such transfer
the city or town has outstanding any bonds or other obligations payable from or secured by
the revenues or earnings of such gas plant or system, it shall be incumbent upon the waterworks
board of such city or town to pay the amount thereof...
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11-81-141
Section 11-81-141 Powers of municipalities or counties generally; provisions in instruments
or deeds of trust creating pledges, mortgages, liens, etc., for payment of bonds; determination
of costs of acquisition, construction, etc., of undertakings. (a) In addition to the powers
which it may now have, any municipality or county shall have power under this division: (1)
To acquire by gift or purchase, to construct, to reconstruct, to improve, to better or to
extend any undertaking within or without the municipality or county or partially within or
partially without the municipality or county; (2) To operate and maintain any undertaking
for its own use and for the use of public and private consumers and users within and without
the territorial boundaries of the municipality or county; (3) To lease any undertaking or
portion thereof to any agency or department of the State of Alabama for a period or periods
not exceeding 40 years from the completion of the construction of the work, if...
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24-1A-6
Section 24-1A-6 Bonds. (a) General. The authority may from time to time issue its negotiable
bonds in such principal amounts as, in the opinion of the authority, shall be necessary to
provide sufficient funds for achieving the corporate purposes thereof, the payment of interest
on bonds of the authority, establishment of reserves to secure such bonds and all other expenditures
of the authority incident to, and necessary or convenient to, carrying out its corporate purposes
and powers. (b) Sources of Payment. Bonds issued by the authority shall be payable solely
out of revenues or property of the authority specified in the resolutions authorizing the
issuance of such bonds. To the extent permitted by any contracts with the holders of outstanding
bonds and any other contractual obligations or requirements, the authority may pledge any,
or all, of its revenues or mortgages or assign any, or all, of its assets (whether real or
personal and whether tangible or intangible) to secure the...
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41-10-142
Section 41-10-142 Bonds - Issuance; form, terms, denominations, etc.; sale; refunding bonds;
negotiable; security for payment. All bonds issued by an authority may be executed by such
officers of the authority and in such manner as shall be provided in the proceedings of the
board whereunder the bonds shall be authorized to be issued. Any such bonds may be executed
and delivered by an authority at any time and from time to time, shall be in such form and
denominations and of such tenor and maturities, shall contain such provisions not inconsistent
with the provisions of this article and shall bear such rate or rates of interest, payable
and evidenced in such manner as may be provided by resolution of its board. Bonds of an authority
may be sold at either public or private sale in such manner and at such price or prices and
at such time or times as may be determined by the board to be most advantageous. The principal
of or interest on any bonds issued or obligations assumed by an...
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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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45-38-141.07
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...
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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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11-32-10
Section 11-32-10 Bonds - Contracts as security for payment. (a) As security for payment of
the principal of and the interest on bonds issued or obligations assumed by it, the authority
may enter into one or more contracts binding itself for the following: (1) 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 or parts of a transit system. (2) The imposition and
collection of reasonable rates for and the promulgation of reasonable regulations respecting
any service furnished from a transit system. (3) The disposition and application of its gross
revenues or any part of a transit system. (4) For any other act or series of acts not inconsistent
with this chapter for the protection of the bonds and other obligations being secured and
the assurance that the revenues from the transit system, when added to all other moneys of
the authority available for the transit system, will be...
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16-17-10
Section 16-17-10 Bonds of authority. (a) All bonds issued by the authority shall be signed
by its chairman and attested by its secretary, and the seal of the authority shall be affixed
thereto, and any interest coupons applicable to the bonds of the authority shall be signed
by the said chairman; provided, that a facsimile of the signature of one, but not both, of
said officers may be printed or otherwise reproduced on any such bonds in lieu of his manually
signing the same, a facsimile of the seal of the authority may be printed or otherwise reproduced
on any such bonds in lieu of being manually affixed thereto and a facsimile of the signature
of the chairman of the authority may be printed or otherwise reproduced on any such interest
coupons in lieu of his manually signing the same. (b) Any such bonds may be executed and delivered
by the authority at any time and from time to time, shall be in such form and denominations
and of such tenor and maturities, shall contain such provisions...
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