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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-29-140.07.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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-47-250.07.htm - 1K - Match Info - Similar pages
11-50-236
Section 11-50-236 Execution, etc., of contracts as security for repayment of moneys borrowed. To further secure the repayment of any money borrowed by it, such corporation may enter into a contract or contracts binding itself for the proper application of the money borrowed, for the continued operation and maintenance of any system or systems 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 its system or systems (including the furnishing of water, sewer service, and any other services), 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 the provisions of this division for the protection of the loan and the assurance that the revenues from its system or systems will be sufficient to operate such system or systems, maintain the same in good repair and in good...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50-236.htm - 1K - Match Info - Similar pages
37-7-18
Section 37-7-18 Charges for services rendered. A corporation formed under this chapter shall have power to charge reasonable fees, rents, tolls, prices and other charges for service rendered which shall be sufficient at all times to pay all operating and maintenance expenses necessary or desirable for the prudent conduct and operation of its business and the principal of and interest on such obligations as the corporation may have issued or assumed in the performance of the purpose for which it was formed, and the revenues and receipts of a corporation shall first be devoted to such operating and maintenance expenses and to the payment of such principal and interest and thereafter to such reserves for improvement, new construction, depreciation and contingencies as the board may from time to time prescribe. Revenues and receipts not needed for these purposes shall be returned to the members, either in cash or in payment of past due or current charges for energy, as the board may...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-7-18.htm - 1K - Match Info - Similar pages
45-46-90.09
Section 45-46-90.09 Power to contract. As security for payment of the principal of and the interest on bonds issued 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 industrial or commercial facility, or port, dock, wharf, or related facilities owned by it, or any part or parts thereof, for the imposition and collection of reasonable fees, rents, tolls, and other charges for, and the promulgation of reasonable regulations respecting the use of any such facilities, 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 facilities will be sufficient to operate such system, maintain the same in good repair and in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-46-90.09.htm - 1K - Match Info - Similar pages
11-50-530
Section 11-50-530 Rates and charges for services rendered. The rates and charges for the services rendered by or from any utility owned or operated by the corporation shall at all times be reasonable for the services so rendered and as low as consistent with good service and prudent management, but shall be sufficient to pay all expenses necessary for the operation of its properties and the maintenance thereof in good operating condition, the payment of the principal of and interest on all bonds issued by it and the creation and maintenance of such reserves for improvements, new construction, depreciation, and contingencies as the board may from time to time prescribe in the exercise of sound judgment and prudent management. In the event the revenues of the corporation shall be in excess of those necessary for said purposes, the corporation shall reduce its said rates and charges as the board may prescribe. All schedules of such rates and charges shall be uniform throughout the power...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50-530.htm - 1K - Match Info - Similar pages
11-81-172.1
Section 11-81-172.1 Revenue bonds - Issuance of bonds for refunding of principal of general or limited obligation warrants, etc. Any county or incorporated municipality in the State of Alabama may issue revenue bonds under the provisions of this article not only for the purposes specified in Section 11-81-166, but also for the purpose of refunding the principal of any outstanding general or limited obligation warrants of any such county or incorporated municipality that were issued (directly or indirectly) for the purpose of financing the acquisition, improvement, enlargement, extension or repair of any waterworks system, gas system, electric system or sanitary sewer system or that were issued to refund any general or limited obligation warrant or warrants initially issued by such county or incorporated municipality (directly or indirectly) for the purpose of financing the acquisition, improvement, enlargement, extension or repair of any waterworks system, gas system, electric system...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-81-172.1.htm - 1K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50-265.htm - 2K - Match Info - Similar pages
27-27-29
Section 27-27-29 Principal place of business and home office of domestic insurers; maintenance of assets in state; removal of records or assets; exceptions. (a) Every domestic insurer shall have, and maintain, its principal place of business and home office in this state and shall keep in this state complete records of its assets, transactions, and affairs in accordance with such methods and systems as are customary or suitable as to the kind, or kinds, of insurance transacted. (b) Every domestic insurer shall have, and maintain, its assets in this state, or in a financial institution conducting business in this state except as to: (1) Real property and personal property appurtenant to the real property lawfully owned by the insurer and located outside this state. (2) The property of the insurer as may be customary, necessary, and convenient to enable and facilitate the operation of its branch offices and regional home offices located outside this state as referred to in subsection...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-29.htm - 5K - Match Info - Similar pages
|