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23-1-158
Section 23-1-158 Bonds - Disposition of proceeds. (a) The proceeds of all bonds, other than
refunding bonds, issued by the corporation, remaining after paying the expenses of their issuance,
shall be turned in to the Treasury or shall be deposited into such account or accounts as
specified in the resolution of the board of directors whereunder such bonds are authorized
to be issued, and shall be subject to be drawn on upon the approval of the Department of Transportation
solely for the purpose of constructing, reconstructing, and relocating public roads, bridges
and approaches thereto, tunnels, other public roadway improvements, or work incidental or
related thereto, in the State of Alabama, including the acquisition of property necessary
for such construction, reconstruction, and relocation and incidental and related work. If
action is necessary in order to comply with any federal legislation relating to federal aid
in construction of roads, the corporation may authorize the...
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23-6-1
Section 23-6-1 Definitions. Where used in this chapter the following words and terms shall
be given the following respective meanings unless the context hereof clearly indicates otherwise:
(1) BOARD OF DIRECTORS. The board of directors of the corporation. (2) CODE. The Code of Alabama
1975, as amended. (3) CORPORATION. The public corporation authorized to be created by this
chapter. (4) GOVERNMENT SECURITIES. Any bonds or other obligations which as to principal and
interest constitute direct obligations of, or are unconditionally guaranteed by, the United
States of America, including obligations of any federal agency to the extent such obligations
are unconditionally guaranteed by the United States of America and any certificates or any
other evidences of an ownership interest in such obligations of, or unconditionally guaranteed
by, the United States of America or in specified portions thereof (which may consist of the
principal thereof or the interest thereon). (5) INDUSTRIAL ACCESS...
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9-14A-3
Section 9-14A-3 Definitions. Where used in this chapter the following words and terms shall
be given the following respective meanings unless the context hereof clearly indicates otherwise:
(a) AMENDMENT. Amendment 617 to the Constitution of Alabama of 1901, authorizing the issuance
of the bonds. (b) CORPORATION. The respective public corporations authorized to be created
by this chapter. (c) BOARD OF DIRECTORS. The respective board of directors of the corporations.
(d) BONDS. The bonds issued under the provisions of this chapter. (e) CODE. The Code of Alabama
1975, as amended. (f) GOVERNMENT SECURITIES. Any bonds or other obligations which as to principal
and interest constitute direct obligations of, or are unconditionally guaranteed by, the United
States of America, including obligations of any federal agency to the extent the obligations
are unconditionally guaranteed by the United States of America and any certificates or any
other evidences of an ownership interest in such...
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19-3-120
Section 19-3-120 Classes of authorized investments; repeal of conflicting statutes. (a) Unless
otherwise authorized or directed by the court having jurisdiction thereof, or by the will,
trust agreement or other document which is the source of authority, a trustee, executor, administrator,
guardian or one acting in any other fiduciary capacity, other than as a trustee governed by
the Alabama Uniform Trust Code, with the exercise of reasonable business prudence, in addition
to any other investments now permitted by law, may invest funds in securities or investments
which, at the time of the making or purchase thereof, are included in one or more of the following
classes: (1) Bonds or other interest-bearing obligations of the United States of America,
or payment of which the United States of America has guaranteed as to both principal and interest.
(2) Bonds issued by the Federal Land Bank, under the act of Congress of the United States
of America, designated as "the Federal Farm Loan...
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41-14A-2
Section 41-14A-2 Definitions. As used in this chapter, the following words and terms shall
have the following meanings: (1) AVERAGE MONTHLY BALANCE OF PUBLIC DEPOSITS. The sum of the
average daily balances of public deposits, meaning the net average daily balances of public
deposits determined without any deduction for deposit insurance, for the reported month and
the 11 months preceding that month, divided by 12. (2) BOARD OF DIRECTORS or BOARD. The Board
of Directors of the SAFE Program established under Section 41-14A-6. The board of directors
shall consist of eight members. (3) COLLATERAL-PLEDGING LEVEL or COLLATERAL-PLEDGING REQUIREMENT.
The percentage or percentages of collateral, in relation to one or more levels of public deposits
held, required to be pledged by a qualified public depository as determined in accordance
with the provisions of this chapter or rules or orders of the board adopted pursuant to this
chapter. (4) COVERED PUBLIC ENTITY. The state and its political...
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5-11A-5
Section 5-11A-5 Deposit of security for operation of trust business - Amount required and form;
charges against deposit. Any corporation organized and operating as a trust company or as
a bank authorized by law to do a trust business may deposit with the State Treasurer or elsewhere
United States bonds, bonds, notes or debentures of any federal agency such as a federal land
bank, banks for cooperatives, Farm Home Administration, Federal National Mortgage Association,
etc., Alabama bonds, bonds of any city or county in the State of Alabama or mortgages which
are first liens on real estate, worth in each case double the face of the mortgage, situated
in this state, to an amount not less than $25,000.00, and may increase said deposit from time
to time or reduce the same to an amount not less than $25,000.00, or may withdraw the deposit
entirely, provided such trust companies or banks have made final settlement and accounted
for all assets in their possession and under their control by...
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41-10-260
Section 41-10-260 Definitions. The following terms, wherever used in this article, shall have
the following respective meanings unless the context clearly indicates otherwise: (1) AUTHORITY.
The public corporation organized pursuant to the provisions of this article. (2) BOARD OF
DIRECTORS. The board of directors of the authority. (3) BONDS. When used with reference to
debt instruments issued by the authority, means bonds, notes and other forms of indebtedness.
(4) BUILDING COMMISSION. The Building Commission created by Act No. 128 adopted at the 1945
Regular Session of the Legislature of the state, and any successor agency thereto. (5) CHIEF
JUSTICE. The Chief Justice of the Supreme Court of the State of Alabama. (6) GOVERNMENT SECURITIES.
Any bonds or other obligations which as to principal and interest constitute direct obligations
of, or are unconditionally guaranteed by, the United States of America, including obligations
of any federal agency to the extent such obligations are...
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41-14-35
Section 41-14-35 Security for deposits or accounts. (a) All public deposits, as defined in
Chapter 14A, of the state shall be secured to the extent and in the manner provided in Chapter
14A by any combination of the following securities and instruments, which may be issued and
held in either definitive or book-entry form: Direct obligations of the State of Alabama or
any other state of the United States; obligations of the United States government or that
are fully guaranteed as to payment of principal and interest by the United States; obligations
issued or guaranteed by any agency or instrumentality of the United States, including, without
limitation, the Government National Mortgage Association or any successor thereto, any Federal
Farm Credit Bank or any successor thereto, the Federal Housing Finance Board or any successor
thereto, the Federal Home Loan Bank System or any successor thereto, or any Federal Home Loan
Bank or any successor thereto; debt obligations, including, without...
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26-9-10
Section 26-9-10 Investment of funds of estate by guardian; limitation as to loans of funds
of ward. (a) Every guardian shall invest the funds of the estate in one or more of the following
forms in which the guardian has no interest and not otherwise: (1) Interest-bearing obligations
of the State of Alabama or of the United States or as to which the State of Alabama or the
United States has guaranteed the payment of both principal and interest. (2) Loans secured
by direct first mortgage on improved real estate located within the State of Alabama. Such
loans shall not exceed 50 percent of the actual value fixed by a competent appraiser or of
the value for which such real estate, with improvements, was assessed for taxation for the
last preceding tax year, whichever is the lower, except as provided in subdivision (3) of
this section. (3) Purchase of indebtedness secured by first real estate mortgages which have
been accepted for insurance by the Secretary of Housing and Urban Development...
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11-88-132
Section 11-88-132 Acquisition, etc., of water system of water and fire protection authority
by city board of water and sewer commissioners - Conveyance of funds in trust for authority's
fire protection system; governing board of authority as trustees; trustees' powers and liabilities.
(a) In the event that the board of water and sewer commissioners of any city ("commissioners")
should acquire, operate, or control by virtue of assignment, conveyance, court order, operation
of law, or otherwise the water system of a water and fire protection authority ("authority"),
then the commissioners shall thereupon convey to the authority the principal sum of $2,000,000
in irrevocable trust for the support and maintenance of the authority's fire protection system.
(b) The trustees of the trust so established shall be the members of the governing board of
the authority, as it may be comprised from time to time, who shall have all powers necessary
to effect the support and maintenance of the...
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