45-25-250.15
Section 45-25-250.15 Proceedings, notice, and approval of authority actions. Except
as expressly otherwise provided in this article, no proceeding, notice, or approval shall
be required for the incorporation of the authority or the amendment of its certificate of
incorporation, the acquisition of any property, water, sewer, and garbage system, or the issuance
of any mortgage and deed of trust or trust indenture. (Act 89-426, p. 893, §16.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-25-250.15.htm - 753 bytes - Match Info - Similar pages

45-37A-56.22
Section 45-37A-56.22 Definitions. Unless the context plainly indicates otherwise, the
following words and terms shall have the meanings hereby ascribed to them: (1) AUTHORITY.
A public corporation organized under this subpart. (2) BOARD. The board of directors of the
authority (3) BOND. Any bond authorized to be issued under this subpart. (4) CITY. A city
subject to this subpart. (5) COUPON. Any interest coupon evidencing an installment of interest
payable with respect to a bond. (6) DIRECTOR. A member of the board. (7) GOVERNING BODY. The
body in which the general legislative powers of the city are vested. (8) INDENTURE. A mortgage,
and indenture of mortgage, deed of trust, trust agreement, or trust indenture executed by
the authority as securityfor its bonds. (9) PARKING FACILITY. Any building, structure, land,
right-of-way, equipment, or instrumentality used or useful in connection with the construction,
enlargement, development, maintenance, or operation of an area or building for...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-56.22.htm - 1K - Match Info - Similar pages

45-47-250.16
Section 45-47-250.16 Proceedings, notice, and approval of authority actions. Except
as expressly otherwise provided in this article, no proceeding, notice, or approval shall
be required for the incorporation of the authority or the amendment of its certificate of
incorporation, the acquisition of any property, water system, or fire protection facility,
or the issuance of any mortgage and deed of trust or trust indenture. (Act 89-465, p. 950,
§ 17.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-47-250.16.htm - 764 bytes - Match Info - Similar pages

11-54-179
Section 11-54-179 Bonds of authority generally. (a) Source of payment. All bonds issued
by an authority 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 under which the bonds shall be authorized to be issued. (b) Pledge
of revenues, receipts and other security. The principal of and interest on any bonds issued
by an authority shall be secured by a pledge of the revenues and receipts out of which the
same may be payable and may be secured by a mortgage and deed of trust or trust indenture
conveying as security for such bonds all or any part of the property of the authority from
which the revenues or receipts so pledged may be derived. The resolution under which the bonds
are authorized to be issued and any such mortgage and deed of trust or trust indenture may
contain any agreements and provisions respecting the operation, maintenance and insurance...

alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54-179.htm - 5K - Match Info - Similar pages

11-54A-10
Section 11-54A-10 Bonds of authority. (a) Source of payment. All bonds issued by the
authority 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 under which the bonds shall be authorized to be issued. (b) Pledge of revenues,
receipts and other security. The principal of an interest on any bonds issued by the authority
shall be secured by a pledge of the revenues and receipts out of which the same may be payable
and may be secured by a mortgage and deed of trust or trust indenture conveying as security
for such bonds all or any part of the property of the authority from which the revenues or
receipts so pledged may be derived. The resolution under which the bonds are authorized to
be issued and any such mortgage and deed of trust or trust indenture may contain any agreements
and provisions respecting the operation, maintenance and insurance of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54A-10.htm - 5K - Match Info - Similar pages

11-61A-21
Section 11-61A-21 Publication of notice. Upon the adoption by the board of any resolution
providing for the issuance of bonds, the authority may cause to be published once a week for
two consecutive weeks, in a newspaper that is customarily published in this state not less
than five days in each calendar week and distributed in the county in which the principal
office of the authority is located, a notice in substantially the following form (the blanks
being properly filled in) at the end of which there shall be printed the name and title of
either the chair or secretary of the authority: "_____ a public corporation of the State
of Alabama, on the _____ day of _____,_____, authorized the issuance of $ _____ principal
amount of revenue bonds of the corporation for purposes authorized in the act of the Legislature
of Alabama under which the corporation was organized. Any action or proceeding questioning
the validity of the bonds, or the pledge and any instruments securing the bonds, or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-61A-21.htm - 2K - Match Info - Similar pages

11-86A-15
Section 11-86A-15 Security for bonds. (a) In the discretion of the board of directors
of an authority, any bonds may be secured by an indenture between an authority and a trustee,
which may be a trust company or bank having trust powers, whether the trust company or bank
is located within or outside of the state. In any indenture or resolution providing for the
issuance of bonds, an authority may pledge, for payment of the principal of and the interest
on such bonds, any of its revenues to which its rights exist or may thereafter come into existence,
and may assign, as security for payment, any of its leases, franchises, permits, and contracts.
In any indenture, an authority may mortgage any properties, including any that may be thereafter
acquired by it, and may provide that in the event of a default in payment of the bonds secured
thereby or in the event of default with respect to any agreement contained therein, the mortgage
may be foreclosed either by sale at public outcry or by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-86A-15.htm - 3K - Match Info - Similar pages

11-92A-15
Section 11-92A-15 Security for bonds. (a) In the discretion of the board of directors
of an authority, any bonds may be secured by an indenture between an authority and a trustee,
which may be any trust company or bank having trust powers, whether such trust company or
bank is located within or without the state. In any such indenture or resolution providing
for the issuance of bonds an authority may pledge, for payment of the principal of and the
interest on such bonds, any of its revenues to which its right then exists or may thereafter
come into existence, including, but not limited to, revenues or other money or property pledged
to it by any public or private person, and may assign, as security for such payment, any of
its leases, loan agreements, franchises, permits, and contracts. In any such indenture, an
authority may mortgage any of its properties, including any that may be thereafter acquired
by it, and may provide that in the event of a default in payment of the bonds...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-92A-15.htm - 4K - Match Info - Similar pages

11-92C-9
Section 11-92C-9 Bonds of authority. (a) Source of payment. All bonds issued by an authority
shall be payable solely out of the revenues and receipts derived from the leasing or sale
by the board of its projects, or from any other source as may be designated in the proceedings
of the board under which the bonds are authorized to be issued. (b) Pledge of revenues, receipts,
and other security. The principal and interest on any bonds issued by an authority shall be
secured by a pledge of the revenues and receipts out of which the principal and interest may
be payable and may be secured by a mortgage and deed of trust or trust indenture conveying
as security for the bonds all or any part of the property of the authority from which the
revenues or receipts so pledged may be derived. (c) Resolutions. The resolution under which
the bonds of an authority are authorized to be issued and any mortgage and deed of trust or
trust indenture may contain any agreements and provisions respecting the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-92C-9.htm - 7K - Match Info - Similar pages

11-94-12
Section 11-94-12 Bonds of authority - Indenture; lien; remedies of bondholders. In the
discretion of its board, any bonds issued by an authority may be secured by an indenture between
an authority and a trustee, which may be any trust company or bank having trust powers, whether
such bank or trust company is located within or without the state. In any such indenture or
resolution providing for the issuance of bonds an authority may pledge, for payment of the
principal of and the interest on such bonds, any of its revenues to which its right then exists
or may thereafter come into existence and may assign, as security for such payment, any of
its leases, franchises, permits and contracts; and in any such indenture, an authority may
mortgage any of its properties, including any that may be thereafter acquired by it, and may
provide that in the event of a default in payment of the bonds secured thereby or in the event
of default with respect to any agreement contained therein, such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-94-12.htm - 4K - Match Info - Similar pages