41-10-674
Section 41-10-674 Authorization to issue bonds. (a) General. The authority is authorized from time to time to sell and issue the bonds in one or more series in an aggregate principal amount of up to one hundred three million seven hundred sixty thousand dollars ($103,760,000) in order to provide the funds to pay project costs, ancillary costs and training costs. In addition, proceeds of the bonds in an amount up to four million six hundred fifty-five thousand dollars ($4,655,000) shall be used to pay the cost of reconstructing and improving the flood levee located in Elba, Alabama and proceeds in an amount up to five million eight hundred ten thousand dollars ($5,810,000) shall be used to pay the cost of reconstructing and improving the flood levee located in Geneva, Alabama. Of the proceeds of the bonds an amount up to seven hundred sixty thousand dollars ($760,000) shall be allocated for the acquisition of high technology and audio-visual equipment for an advanced aerospace training...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-674.htm - 3K - Match Info - Similar pages
45-37-90.06
Section 45-37-90.06 Civic Center Authority - Revenue bonds. (a) Subject to the conditions, qualifications, and restrictions set forth in subsection (e), the authority shall have the power to borrow money and to issue revenue bonds as evidence of money so borrowed, which bonds shall be payable solely from taxes made payable to the authority by any act of the Legislature heretofore or hereafter adopted and from the revenues of the authority derived from the activities, operations, and enterprises in which the authority is hereby authorized to engage. As security for any money so borrowed, together with interest thereon, and any obligations incurred or assumed, the authority, in its discretion, may mortgage, pledge, or otherwise transfer and convey its real, personal, and mixed property, or any part or parts thereof, whether then owned or thereafter acquired, including any franchises then owned or thereafter acquired, and all or any part of the taxes payable to the authority under any act...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37-90.06.htm - 9K - Match Info - Similar pages
45-39A-11.05
Section 45-39A-11.05 Civic Center Authority - Revenue bonds. (a) Subject to the conditions, qualifications, and restrictions set forth in subsection (e), the authority shall have the power to borrow money and to issue revenue bonds as evidence of money so borrowed, which bonds shall be payable solely from taxes made payable to the authority by an act of the Legislature heretofore or hereafter adopted and from the revenues of the authority derived from the activities, operations, and enterprises in which the authority is hereby authorized to engage. As security for any money so borrowed, together with interest thereon, and any obligations incurred or assumed, the authority, in its discretion, may mortgage, pledge, or otherwise transfer and convey its real, personal, and mixed property, or any part or parts thereof, whether then owned or thereafter acquired, including any franchises then owned or thereafter acquired, and all or any part of the taxes payable to the authority under any act...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-39A-11.05.htm - 9K - Match Info - Similar pages
11-15-9
Section 11-15-9 Warrants - Authority for issuance; form, terms, denominations, redemption, etc.; sale. The corporation is authorized to issue its interest-bearing revenue warrants for the purpose of acquiring, constructing, improving, enlarging, completing and equipping one or more projects. All warrants issued by the corporation shall be limited obligations of the corporation, the principal of and interest on which shall be payable solely out of the revenues derived from the projects with respect to which they are issued. None of the warrants of the corporation shall ever constitute an obligation or debt of the state or of the county or a charge against the credit or taxing powers of the state or the county. Warrants of the corporation 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 payable in such installments and at such time or times not exceeding 30 years from their date, may be payable at such place or places...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-15-9.htm - 2K - Match Info - Similar pages
11-98-2
Section 11-98-2 Districts; creation; composition; powers and duties. The creating authority may by ordinance or resolution, as may be appropriate, create within its respective jurisdiction districts composed of the territory lying wholly within the municipality or of any part or all of the territory lying wholly within the county. The districts shall be political and legal subdivisions of the state, with power to sue and be sued in their corporate names and to incur debt and issue bonds. The bonds shall be negotiable instruments and shall be solely the obligations of the district and not the State of Alabama. The bonds and the income thereof shall be exempt from all taxation in the State of Alabama. The bonds shall be payable out of the income, revenues, and receipts of the district. The bonds shall be authorized and issued by resolution or ordinance of the creating authority of the district and shall be of such series, bear such date or dates, mature at such time or times, not to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-98-2.htm - 2K - Match Info - Similar pages
11-49B-10
Section 11-49B-10 Contracts to secure bonds and assumed obligations. As security for payment of the principal of and the interest on bonds issued or obligations assumed by it, the authority may do the following: (1) 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 transit system owned by it, or any part of the system. (2) Impose and collect reasonable rates for any service furnished by the system. (3) Promulgate rules and regulations respecting any service furnished by the system. (4) Provide for the disposition and application of its gross revenues received by the system. (5) Do any act or series of acts not inconsistent with this chapter for the protection of the bonds and other obligations being secured by the authority. (6) Assure that the revenues derived from the system, when added to all other moneys of the authority, will be sufficient to operate and maintain...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-49B-10.htm - 1K - Match Info - Similar pages
11-89-12
Section 11-89-12 Establishment and revision of rates, fees, and charges for services rendered by district. Rates, fees, and charges for water service, sewer service, and fire protection service rendered by the district from any of its water systems, sewer systems or fire protection facilities shall be so fixed and from time to time revised as at all times to provide funds at least sufficient to: (1) Pay the cost of operating, maintaining, repairing, replacing, extending, and improving the systems and facilities or either from which such services are rendered; (2) Pay the principal of and the interest on all bonds issued and obligations assumed by the district that are payable out of the revenues derived from operation of those systems and facilities as the said principal and interest become due and payable; (3) Create and maintain such reserve for the foregoing purposes or any of them as may be provided in any mortgage and deed of trust or trust indenture executed by the district under...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-89-12.htm - 1K - Match Info - Similar pages
11-99B-11
Section 11-99B-11 Establishment and revision of rentals, licenses, rates, fees, and charges for services or facilities rendered by district. Rates, fees, charges, rentals, and licenses for services rendered by the district or facilities provided by the district from any of its projects shall be so fixed and, from time to time, revised as at all times to provide funds at least sufficient, taking into account other sources for the payment thereof, to: (1) Pay the cost of operating, maintaining, repairing, replacing, extending, and improving the project or projects of the district. (2) Pay the principal of and the interest on all bonds issued and obligations assumed by the district that are payable out of the revenues derived from operation of the project or projects of the district as the said principal and interest become due and payable. (3) Create and maintain such reserves for the foregoing purposes or any of them as may be provided in any trust indenture executed by the district...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-99B-11.htm - 1K - Match Info - Similar pages
11-85-107
Section 11-85-107 Bonds - Authentication; redemption; sale; refunding; use of proceeds; security; investment of funds. The bonds of the authority shall be signed by its president and attested by its secretary and the seal of the authority shall be affixed thereto or a facsimile of such seal shall be printed or otherwise reproduced thereon; 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 being manually subscribed thereon and a facsimile of the signatures of both of the officers may be printed or otherwise reproduced on such bonds in lieu of being manually affixed thereof if the authority, in its proceedings with respect to issuance of the bonds, provides for manual authentication of such bonds. The State Treasurer shall be registrar, transfer agent, and paying agent for the bonds. The State Treasurer may designate named individuals who are employees of the state and who are assigned to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-85-107.htm - 7K - Match Info - Similar pages
23-1-177
Section 23-1-177 Bonds - Generally. (a) The bonds of the corporation shall be signed by its president and attested by its secretary, and the seal of the corporation shall be affixed thereto or printed or otherwise reproduced thereon; provided, that a facsimile of the signature of one, but not both, of the officers may be printed or otherwise reproduced on any such bonds in lieu of his or her signing the same. (b) Any bonds of the corporation may be executed and delivered by it 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 such other provisions not inconsistent with this article, all as may be provided by the resolution of the board of directors under which such bonds are authorized to be issued; provided, that no bond of the corporation shall have a specified maturity date...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-1-177.htm - 6K - Match Info - Similar pages
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