9-10-38
Section 9-10-38 Security for bonds. (a) At the discretion of the corporation, any bonds issued under the provisions of this article may be secured by a trust agreement by and between the corporation and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or without the state. The trust agreement or the resolution providing for the issuance of such bonds, subject to the provisions of Section 9-10-35, may pledge or assign tolls, rentals, sales receipts or other revenues to which the corporation's right then exists or which may thereafter come into existence and the moneys derived therefrom and the proceeds of such bonds; provided, however, that the trust agreement or resolution shall not convey or mortgage any project or any part thereof. (b) Such trust agreement or resolution providing for the issuance of bonds may contain such provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-10-38.htm - 4K - Match Info - Similar pages
11-97-2
Section 11-97-2 Definitions. The following words and phrases used in this chapter, and others evidently intended as the equivalent thereof, shall, in the absence of a clear implication herein otherwise, be given the following respective interpretations herein: (1) APPLICANT. A natural person who files a written application with the governing body of any county or municipality in accordance with the provisions of Section 11-97-3 hereof. (2) AUTHORIZING RESOLUTION. A resolution of ordinance adopted by the governing body of any county or municipality in accordance with the provisions of Section 11-97-3 hereof, that authorizes the incorporation of a corporation. (3) BOARD. The board of directors of a corporation. (4) BONDS. Bonds, notes, or other obligations representing an obligation to pay money. (5) CORPORATION. Any public corporation organized pursuant to the provisions of this chapter. (6) COSTS. As applied to a facility or any portion thereof, shall include all or any part of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-97-2.htm - 10K - Match Info - Similar pages
9-16-80
Section 9-16-80 Surface Mining Control and Reclamation Division - Creation; director; chief; transfer of books, records, powers, rights, and personnel. (a) There is hereby created a Division of Surface Mining Control and Reclamation within the Alabama Surface Mining Commission to enforce the provisions of this article. The division shall have such powers and authority as may be delegated by the director of the commission. (b)(1) The director shall appoint a chief of the division and shall fix his compensation as an unclassified employee in the state Merit System. (2) The chief shall be the chief executive officer of the division and shall administer in the name of the division that power and authority delegated to the division by the director. The chief may, with the approval of the director, establish such sections within the division as may be necessary to enforce this article and the rules, regulations and standards promulgated thereunder. (c) Any books, records, equipment,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-16-80.htm - 2K - Match Info - Similar pages
27-35-8
Section 27-35-8 Conversion into stock or mutual life insurance company - Completion; effect. (a) When a fraternal benefit society has complied with the provisions of this chapter and with the laws of this state relating to domestic stock life insurers or domestic mutual life insurers, as the case may be, and has received from the commissioner a certificate of authority to transact business in this state, its reorganization and conversion into such stock insurer or mutual insurer shall be complete. (b) The reorganized and converted corporation shall be deemed in law to be a continuation of the fraternal benefit society, whether the reorganization and conversion shall have been accomplished by the formation of a new corporation or by the amendment of the certificate of incorporation of the former society; and such reorganized and converted corporation shall succeed to, and become invested with, all and singular, the rights, privileges, franchises, and all property, real, personal, or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-35-8.htm - 1K - Match Info - Similar pages
11-94-9
Section 11-94-9 Powers of authority; location of projects. (a) An authority organized and existing under this chapter shall have the following powers, together with all powers incident thereto or necessary for the performance of those stated herein: (1) To adopt bylaws for the regulation of its affairs and the conduct of its business; (2) To adopt an official seal and alter the same at pleasure; (3) To maintain a principal office in the municipality which is an authorizing subdivision and sub-offices at such other place or places within the county which is an authorizing subdivision as its board may designate; (4) To sue and be sued in its own name, excepting actions in tort against the authority; (5) To acquire, whether by purchase, construction, exchange, gift, lease, or otherwise and to improve, equip, and furnish and to own and maintain one or more projects or parts thereof, including all real and personal properties and interests therein which its board may deem necessary in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-94-9.htm - 6K - Match Info - Similar pages
11-97-10
Section 11-97-10 Security for payment of bonds; contracts and agreements to secure. (a) Bonds issued by any corporation may, as its board may deem advisable, be either general obligations of such corporation or limited obligations payable only out of certain specified revenues or assets of such corporation; provided, that any corporation may enter into contracts with the holders of any of its bonds preventing such corporation from thereafter issuing general obligation bonds or limiting the amount of such bonds that may thereafter be issued. To the extent permitted by any contracts with the holders of outstanding bonds and any other contractual obligations or requirements, any corporation may pledge any of its revenues or mortgage or assign any of its assets, whether real or personal and whether tangible or intangible, to secure the payment of any of its bonds. (b) As security for payment of the principal of and the interest and premium, if any, on any bonds issued or assumed by it, any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-97-10.htm - 8K - Match Info - Similar pages
24-1-27
Section 24-1-27 Powers and duties of authority. (a) An authority shall constitute a public body and a body corporate and politic exercising public powers, and having all the powers necessary or convenient to carry out and effectuate the purposes and provisions of this article, including the following powers in addition to others granted in this article: (1) To investigate into living, dwelling and housing conditions and into the means and methods of improving such conditions. (2) To determine where unsafe or unsanitary dwelling, public school or housing conditions exist. (3) To study and make recommendations concerning the plan of any city located within its boundaries in relation to the problem of clearing, replanning, and reconstruction of areas in which unsafe or unsanitary dwelling, public school, or housing conditions exist, and the provision of dwelling accommodations for persons of low income, and to cooperate with any city or regional planning agency. (4) To prepare, carry out,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/24-1-27.htm - 9K - Match Info - Similar pages
36-25-27
Section 36-25-27 Penalties; enforcement; jurisdiction, venue, judicial review; limitations period. (a)(1) Except as otherwise provided, any person subject to this chapter who intentionally violates any provision of this chapter other than those for which a separate penalty is provided for in this section shall, upon conviction, be guilty of a Class B felony. (2) Any person subject to this chapter who violates any provision of this chapter other than those for which a separate penalty is provided for in this section shall, upon conviction, be guilty of a Class A misdemeanor. (3) Any person subject to this chapter who knowingly violates any disclosure requirement of this chapter shall, upon conviction, be guilty of a Class A misdemeanor. (4) Any person who knowingly makes or transmits a false report or complaint pursuant to this chapter shall, upon conviction, be guilty of a Class A misdemeanor and shall be liable for the actual legal expenses incurred by the respondent against whom the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-25-27.htm - 6K - Match Info - Similar pages
11-50A-8
Section 11-50A-8 Powers of the authority. In addition to other powers granted the authority by this chapter, it shall have all powers consistent with the purposes of the authority as set forth in Section 11-50A-3, which are necessary or convenient to carry out and effectuate the purposes and provisions of this chapter, including, but without limiting the generality of the foregoing, the following enumerated powers, which shall be exercised by the authority consistently with the provisions of Section 11-50A-3: (1) To sue and be sued and to prosecute and defend in any court having jurisdiction of the subject matter and of the parties thereto; (2) To adopt and alter a corporate seal; (3) To make and alter at pleasure all needful bylaws, rules, and regulations for the transaction of its business and the control of its property and affairs; (4) To have the same right of eminent domain through condemnation conferred by Section 10-5-1, or any subsequent statute of similar import; provided...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50A-8.htm - 13K - Match Info - Similar pages
37-6-3
Section 37-6-3 Enumerated powers. A cooperative shall have the power: (1) To sue and be sued in its corporate name. (2) To adopt a corporate seal and alter the same at its pleasure. (3) To generate, manufacture, purchase, acquire and transmit electric energy and to distribute, sell, supply and dispose of electric energy to its members, to governmental agencies and political subdivisions and to other persons; provided, however, that should a cooperative acquire any electric facilities dedicated or devoted to the public use, it may continue to serve the persons served directly from such facilities at the time of such acquisition without requiring that such persons become members, and, provided further, that such nonmembers shall have the right to become members upon nondiscriminatory terms. Cooperatives may not condition membership or provision of service on compliance by the member with requirements not directly related to the electric or other service to be provided by the cooperative....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-6-3.htm - 19K - Match Info - Similar pages
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