45-37-170.26
Section 45-37-170.26 Powers of authority. The authority shall have the following powers together with all powers incidental thereto or necessary for the performance of the powers stated in this section: (1) To have succession by its corporate name without time limit. (2) To sue and be sued and to prosecute and defend civil actions 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 its pleasure. (4) To receive and expend funds from federal, state, county, municipal, and private sources for the purposes hereof. (5) To dig channels, build dikes, dams, and lakes or ponds to contain flood waters as deemed useful by it to improve flood control, and whenever practical to build any and all facilities which can contribute to the use of such flood control channels for navigation. (6) To contract with municipalities and counties for the financing and joint construction and operation of such facilities. (7) To...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37-170.26.htm - 3K - Match Info - Similar pages
11-32-7
Section 11-32-7 Powers of authority. (a) The authority shall exercise powers and duties necessary to the discharge of its powers and duties in corporate form as follows: (1) Have succession by its corporate name in perpetuity subject to Section 11-32-20. (2) Sue and be sued in its own name in civil suits and actions and defend suits against it. (3) Adopt and make use of a corporate seal and alter the same at its pleasure. (4) Adopt and alter bylaws for the regulation and conduct of its affairs and business. (5) Acquire, receive, take, by purchase, gift, lease, devise, or otherwise, and 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 authorizing county. (6) Make, enter into, and execute contracts, agreements, leases, and other instruments and take other actions as may be necessary or convenient to accomplish any purpose for which the authority was organized, or exercise any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-32-7.htm - 14K - Match Info - Similar pages
11-49A-8
Section 11-49A-8 Powers of authority. The authority shall have the following powers, together with all powers incidental thereto or necessary to the discharge thereof in corporate form: (1) To have succession by its corporate name for the duration of time (which may be perpetual, subject to the provisions of Section 11-49A-20) specified in its certificate of incorporation; (2) To sue and be sued in its own name in civil suits and actions and to defend suits 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 authorizing municipality; (6) To make, enter into, and execute such contracts, agreements, leases, and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-49A-8.htm - 6K - Match Info - Similar pages
11-49B-22
Section 11-49B-22 Taxes; exemptions; reporting credit sales; lien security; state sales tax provisions applicable; charge for collecting tax; voting. (a) The authority shall, subject to a referendum in the counties it proposes to serve, levy, in addition to all other taxes, including, but not limited to, municipal gross receipts license taxes, a 1/4 percent privilege license tax against gross sales or gross receipts, provided, however, that the rate of such tax on any person, firm, or corporation engaged in the type of business described in Section 40-23-2(4) shall be an amount equal to 1/32 percent of the gross proceeds from sales described in such section. The gross receipts of any business and the gross proceeds of all sales which are presently exempt under the state sales and use tax statutes are exempt from the tax authorized by this chapter. (b) The tax levied by this chapter shall be collected by the State Department of Revenue, the authority, the county, or by contract to a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-49B-22.htm - 7K - Match Info - Similar pages
22-21-140
Section 22-21-140 Lease agreements with municipality. (a) Authorization of lease. The authority and the municipality are hereby respectively authorized to enter into one or more lease agreements with each other whereunder one or more projects or any part thereof shall be leased by the authority to the municipality. No such lease agreement shall be for a term longer than the then current fiscal year in which it is made. Any such lease agreement made, however, may contain a grant to the municipality of successive options to renew such lease agreement, on the conditions specified therein, for additional terms; but no such additional term shall be for a period longer than the fiscal year in which such renewal shall be made. The lease agreement may contain provisions as to the method by which such renewal may be effected. (b) Payments limited to current revenues of the municipality for current fiscal year. The obligation on the part of the municipality to pay the rental required to be paid...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-140.htm - 5K - Match Info - Similar pages
23-1-157
Section 23-1-157 Bonds - Generally. (a) The bonds of the corporation shall be signed by its president or vice president and attested by its secretary; provided, that a facsimile of the signature of the officers may be imprinted or otherwise reproduced on any such bonds in lieu of his or her signing the same. The seal of the corporation shall be affixed to such bonds; provided, that a facsimile of the seal may be imprinted or otherwise reproduced on any such bonds in lieu of being manually affixed thereon. (b) Any bonds of the corporation may be executed and delivered at any time and from time to time, shall be in such form and denominations and of such tenor and maturities, shall bear such rate or rates of interest payable and evidenced in such manner, may contain provisions for redemption prior to maturity and may contain other provisions not inconsistent with this article, all as may be provided by the resolution of the board of directors whereunder such bonds are authorized to be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-1-157.htm - 6K - Match Info - Similar pages
45-39-92.53
Section 45-39-92.53 Abolition of corporation upon payment in full of securities; disposition of proceeds. (a) When the original securities secured by a pledge of the taxes authorized in this subpart, including refunding securities hereafter issued to refund the original securities, for the Shoals Economic Development Project have been paid in full, the local public corporation is abolished. Securities for which an irrevocable trust fund consisting of cash or direct general obligations of the United States of America, or both, is established for retirement of all of the principal of or interest on any outstanding security, shall be deemed paid in full for the purposes of this subpart. (b) Notwithstanding any other provision of this subpart, the local public corporation may not increase any outstanding debt or debt obligations or create additional debts relating to the original bond balance owed as of May 12, 2005. (c) (1) Upon abolishment of the local public corporation, the proceeds of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-39-92.53.htm - 1K - Match Info - Similar pages
23-7-5
Section 23-7-5 Powers and functions. (a) In addition to the powers contained in other provisions of this chapter, the bank has all power necessary, useful, or appropriate to fund, operate, and administer the bank, and to perform its other functions including, but not limited to, the following power to: (1) Have perpetual succession. (2) Adopt, promulgate, amend, and repeal bylaws, not inconsistent with this chapter for the administration of the bank's affairs and the implementation of its functions including the right of the board to select qualifying projects and to provide loans and other financial assistance. (3) Sue and be sued in its own name. (4) Have a seal and alter it at pleasure, although the failure to affix the seal does not affect the validity of an instrument executed on behalf of the bank. (5) Make loans to qualified borrowers to finance the eligible costs of qualified projects and to acquire, hold, and sell loan obligations at prices and in a manner as the board...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-7-5.htm - 6K - Match Info - Similar pages
37-13-7
Section 37-13-7 Powers of authority generally. Each authority shall have the following powers, together with all powers incidental thereto or necessary to the discharge thereof in corporate form; (1) To have succession by its corporate name for the duration of time (which may be in perpetuity) specified in its certificate of incorporation; (2) To sue and be sued in its own name in civil suit and actions; (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, take and hold, whether by purchase, gift, lease, devise, or otherwise, property of every description, whether real, personal or mixed, whether in one or more counties and whether within or without the boundaries or corporate limits (as the case may be) of any authorizing subdivision, and to manage said property, and to develop any undeveloped property owned, leased or controlled by it in a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-13-7.htm - 7K - Match Info - Similar pages
40-17-359
Section 40-17-359 Distribution and use of proceeds. (a) For the purpose of this section, the following terms shall have the meanings ascribed below: (1) BASE ANNUAL COUNTY DISTRIBUTION. Five hundred fifty thousand dollars ($550,000). (2) COST OF COLLECTION. The amounts from the proceeds of the highway gasoline tax that may be appropriated by the Legislature to the department for its operating expenses. (3) COUNTY. Each county in the state. (4) FISCAL YEAR. The fiscal year of the state. (5) DEPARTMENT OF TRANSPORTATION. The Department of Transportation of the state. (6) HIGHWAY GASOLINE TAX. Both of the following: a. The excise tax levied under subdivision (1) of subsection (a) of Section 40-17-325, with the exception of those portions of the tax levied on aviation fuel and marine gasoline. b. The excise tax levied by Sections 40-17-140 to 40-17-155, inclusive, except that portion of the tax imposed on diesel fuel. (7) LOCAL SUBDIVISIONS' SHARES OF THE NET TAX PROCEEDS. The 55 percent...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-17-359.htm - 28K - Match Info - Similar pages
|