4-3-51
Section 4-3-51 Bonds - Issuance and sale generally; payment of principal and interest generally;
form, denominations, terms, etc. The authority shall have the power and is hereby authorized
at any time and from time to time to issue and sell its interest-bearing revenue bonds for
any of its corporate purposes. The principal of and the interest on all such bonds shall be
payable solely from, and may be secured by a pledge of, the revenues derived by the authority
from the operation of any or all of its airports, heliports, facilities and other property.
None of the bonds issued or contracts entered into by the authority shall ever constitute
or create an obligation or debt of the state or of any county or municipality within the state,
or a charge against the credit or taxing powers of the state or of any county or municipality
within the state. Bonds of the authority may be issued at any time and from time to time,
may be in such form and denominations, may be of such tenor, may be...
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11-88-10
Section 11-88-10 Bonds of authority - Statutory mortgage lien to secure payment of principal
and interest. Any resolution of the board or trust indenture under which bonds may be issued
pursuant to the provisions of this article may contain provisions creating a statutory mortgage
lien, in favor of the holders of such bonds and of the interest coupons applicable thereto,
on the water systems, sewer systems and fire protection facilities or any thereof (including
any after-acquired property) out of the revenues from which such bonds are made payable. The
said resolution of the board or the said trust indenture may provide for the filing for record
in the office of the judge of probate of each county in which any part of such water systems,
sewer systems and fire protection facilities or any thereof may be located of a notice containing
a brief description of such systems and facilities or either, a brief description of such
bonds and a declaration that said statutory mortgage lien has...
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24-1-33
24-1-33 Powers of authority to secure payment of bonds, etc. In connection with the issuance
of bonds or the incurring of any obligation under a lease and in order to secure the payment
of such bonds or obligations, the authority shall have power: (1) To pledge by resolution,
trust indenture, mortgage, subject to the limitations hereinafter imposed, or other contract
all or any part of its rents, fees or revenues. (2) To covenant against mortgaging all or
any part of its property, real or personal, then owned or thereafter acquired, or against
permitting or suffering any lien thereon. (3) To covenant with respect to limitations on its
right to sell, lease or otherwise dispose of any housing project, or any part thereof, or
with respect to limitations on its right to undertake additional housing projects. (4) To
covenant against pledging all or any part of its rents, fees and revenues to which its right
then exists, or the right to which may thereafter come into existence, or against...
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24-1-72
24-1-72 Powers of authority to secure payment of bonds, etc. In connection with the issuance
of bonds or the incurring of any obligation under a lease and in order to secure the payment
of such bonds or obligations, the authority shall have power: (1) To pledge by resolution,
trust indenture, mortgage, subject to the limitations hereinafter imposed, or other contract
all or any part of its rents, fees, or revenues. (2) To covenant against mortgaging all or
any part of its property, real or personal, then owned or thereafter acquired, or against
permitting or suffering any lien thereon. (3) To covenant with respect to limitations on its
right to sell, lease, or otherwise dispose of any housing project, or any part thereof, or
with respect to limitations on its right to undertake additional housing projects. (4) To
covenant against pledging all or any part of its rents, fees, and revenues to which its right
then exists, or the right to which may thereafter come into existence, or...
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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...
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11-81-222
Section 11-81-222 Contents of complaint; order and notice of hearing to show cause why obligations
not valid. (a) The complaint by appropriate allegations, references or exhibits shall briefly
state the following: the authority for issuing such obligations; the resolution or resolutions
authorizing their issuance and the fact of their adoption and all essential proceedings had
or taken in connection therewith; the amount of the obligations to be issued; the maximum
rate of interest they are to bear; when principal and interest are to be paid and the place
of payment (unless the successful bidder at public sale will have the right to name, designate,
request or suggest the place of payment, which shall be stated if this is the case); the taxes,
other revenues or other means provided for their payment; and, in the case of obligations
payable from taxes, the amount of outstanding indebtedness payable or secured by the same
taxes and the assessed valuation for the then preceding tax year...
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37-13-19
Section 37-13-19 Notice of bond resolution. Upon the adoption by the board of any resolution
providing for the issuance of bonds, the authority may in its discretion 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
is located the principal office of the authority, 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 chairman 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 said corporation for purposes authorized in the act of the
Legislature of Alabama under which the said corporation was organized. Any action or proceeding
questioning the validity of the said bonds, or the pledge and any...
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45-23A-91.17
Section 45-23A-91.17 Freedom of authority from state supervision and control. This part is
intended to aid the state through the furtherance of the purposes of the part by providing
an appropriate and independent instrumentality of the state with full and adequate powers
to fulfill its functions. Except as expressly provided in this part, no proceeding, notice,
or approval shall be required for the incorporation of the authority or the amendment of its
certificate of incorporation, the issuance of any bonds, the execution of any mortgage and
deed of trust or trust indenture, or the exercise of any other of its powers by the authority.
Neither a public hearing nor the consent of the State Department of Finance shall be a prerequisite
to the issuance of bonds by the authority. The authority shall hold a public hearing before
approving or obligating the expenditure of any tax revenues received by the authority from
the city, any county, the state, or federal governments. Such notice shall...
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45-35A-52.17
Section 45-35A-52.17 Freedom of authority from state supervision and control. (a) This part
is intended to aid the state through the furtherance of the purposes of this part by providing
an appropriate and independent instrumentality of the state with full and adequate powers
to fulfill its functions. Except as expressly provided in this part, no proceeding, notice,
or approval shall be required for the incorporation of the authority or the amendment of its
certificate of incorporation, the issuance of any bonds, the execution of any mortgage and
deed of trust or trust indenture, or the exercise of any other of its powers by the authority.
Neither a public hearing nor the consent of the State Department of Finance shall be prerequisite
to the issuance of bonds by the authority. (b) The authority shall hold a public hearing before
approving or obligating the expenditure of any tax revenues received by the authority from
the city, any county, the state, or federal governments. Such...
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45-41A-10.12
Section 45-41A-10.12 Notice of bond resolution. Upon the adoption by the board of the authority
of any resolution providing for the issuance of bonds, such authority, in its discretion,
may cause to be published once a week for two consecutive weeks, in a newspaper published
or having a general circulation in the city, a notice in substantially the following form
(the blanks being properly filled in) at the end of which shall be printed the name and title
of either the chair or secretary of such authority: "The Auburn Downtown Redevelopment
Authority, a public corporation organized and existing under the laws of the State of Alabama
(the 'Authority'), after notice published on the ______ day of ______, 20__ , in ______, a
newspaper of general circulation in the City of Auburn, Alabama, held a public hearing on
the ______ day of ______, 20__ , regarding its proposed issuance of $_____ principal amount
of bonds of the Authority for purposes authorized in the act of the Legislature of...
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