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41-10-38
Section 41-10-38 Allocation formulae. (a) The state ceiling for calendar year 1989 and thereafter
is hereby allocated in its entirety to the state, and no other governmental unit, issuer,
or other entity of any type shall have or utilize any portion of the state ceiling for such
year except in accordance with this division. The state ceiling for calendar year 1989 and
thereafter shall be redistributed by the authority to issuers of affected bonds in the chronological
order of receipt of completed applications, subject to the limitations, reservations and further
provisions of this subsection. (1) There is hereby reserved for Alabama Housing Finance Authority
25 percent of the state ceiling for each calendar year, to be used for the issuance of exempt
facility bonds for qualified residential rental projects and for the issuance of qualified
mortgage bonds, in such relative principal amounts as shall be determined by the Board of
Directors of Alabama Housing Finance Authority. The...
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41-10-472
Section 41-10-472 Pledge and lien for benefit of bonds. In the proceedings authorizing the
issuance of any of its bonds, the authority is authorized and empowered to pledge for the
payment of the principal of and interest on such bonds at the respective maturities of said
principal and interest, and to agree to use solely for such purpose, all the revenues which
under the provisions of Section 41-10-471 are provided for the payment of the said principal
and interest, subject to prior pledges thereof as and to the extent the authority may provide.
In said proceedings the authority may further provide and create, as security for the payment
of said principal and interest, a statutory lien upon the buildings and properties, other
than the State Capitol, for the acquisition and construction or renovation of which the bonds
are issued. Such statutory lien shall not be subject to foreclosure and, in the event of default
in the payment of any such principal or interest, the remedies...
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5-20-3
Section 5-20-3 Definitions. Notwithstanding any other provision of law, for the purposes of
this chapter, the following terms shall have the meanings prescribed by this section: (1)
ALABAMA BANK. A bank which is organized under the laws of this state or of the United States
and which has its principal place of business in this state. (2) BANK. Any "insured bank"
as such term is defined in Section 3(h) of the Federal Deposit Insurance Act, 12 U.S.C. §1813(h).
(3) BANK HOLDING COMPANY. Any company which is a bank holding company under the Bank Holding
Company Act of 1956, as amended, 12 U.S.C. §1841(a). (4) CREDIT CARD. Any type of arrangement
or agreement pursuant to which any domestic lender or credit card bank, whether directly or
indirectly through any domestic lender acting as its agent, gives a debtor the privilege of
using a credit card or other credit confirmation, device or instrument of any type in transactions
out of which debt arises: a. By the domestic lender or credit...
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11-101A-2
Section 11-101A-2 Definitions. As used in this chapter, the following terms shall have the
following meanings, respectively, unless the context clearly indicates otherwise: (1) APPLICANT.
A natural person who files a written application with the governing body of a county or municipality,
or two or more thereof, in accordance with Section 11-101A-3. (2) AUTHORITY. A public corporation
organized pursuant to this chapter. (3) AUTHORIZING RESOLUTION. A resolution adopted by the
governing body of an authorizing subdivision in accordance with Section 11-101A-3, that authorizes
the incorporation of an authority under this chapter. (4) AUTHORIZING SUBDIVISION. Each county
and municipality with the governing body of which an application for the incorporation of
an authority under this chapter is filed. (5) BOARD. The board of directors of an authority.
(6) BONDS. Any bonds authorized to be issued by an authority hereunder, including refunding
bonds. (7) CODE. The Code of Alabama 1975. (8)...
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13A-8-111
Section 13A-8-111 Definitions. As used in this article, the following terms shall have the
following meanings: (1) ACCESS. To gain entry to, instruct, communicate with, store data in,
retrieve or intercept data from, alter data or computer software in, or otherwise make use
of any resource of a computer, computer system, or computer network. (2) COMPUTER. An electronic,
magnetic, optical, electrochemical, or other high speed data processing device or system that
performs logical, arithmetic, or memory functions by the manipulations of electronic or magnetic
impulses and includes all input, output, processing, storage, or communication facilities
that are connected or related to the device. (3) COMPUTER NETWORK. The interconnection of
two or more computers or computer systems that transmit data over communication circuits connecting
them. (4) COMPUTER PROGRAM. An ordered set of data representing coded instructions or statements
that when executed by a computer cause the computer to...
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16-13-95
Section 16-13-95 Interest rate. All warrants issued hereunder shall bear interest at not exceeding
eight percent per annum payable semiannually; provided, that the first interest payment date
may be at any time not later than nine months after the date of issue. If the principal of
or interest on any warrant at any time issued hereunder shall not be paid when due, the same
shall bear interest after maturity until paid at the rate of eight percent per annum until
paid; provided, that at any time after such principal or interest shall have become past due,
the board of education may give notice of its intention to pay the same in whole or in part
with interest at a specified time and place by publication at least once at least 10 days
before the date fixed for such payment in a newspaper published or circulated in the county
and also in a daily newspaper published in Montgomery or Birmingham. If such notice shall
be duly given and if money to make such payment shall be duly provided,...
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23-1-175.1
Section 23-1-175.1 Infrastructure improvements. (a) In order to accomplish infrastructure improvements
contemplated for the benefit of the Alabama State Docks, the Alabama Highway Finance Corporation
shall have the following powers, in addition to all powers set forth in this article. (1)
To borrow money and issue its bonds in evidence thereof, in a principal amount not to exceed
one hundred fifty million dollars ($150,000,000), for the purpose of financing the widening
and deepening of the Mobile Ship Channel and improvements related thereto. No bond issued
by the corporation for this purpose shall have a specified maturity date later than twenty
years after its issuance date. (2) To issue from time to time one or more series of refunding
bonds for the purpose of refunding any bonds issued pursuant to subdivision (1) or bonds previously
issued to refund such bonds, in any case, however, having a final maturity that is not later
than the final maturity of the bonds being refunded. (3)...
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41-10-142
Section 41-10-142 Bonds - Issuance; form, terms, denominations, etc.; sale; refunding bonds;
negotiable; security for payment. All bonds issued by an authority may be executed by such
officers of the authority and in such manner as shall be provided in the proceedings of the
board whereunder the bonds shall be authorized to be issued. Any such bonds may be executed
and delivered by an authority at any time and from time to time, shall be in such form and
denominations and of such tenor and maturities, shall contain such provisions not inconsistent
with the provisions of this article and shall bear such rate or rates of interest, payable
and evidenced in such manner as may be provided by resolution of its board. Bonds of an authority
may be sold at either public or private sale in such manner and at such price or prices and
at such time or times as may be determined by the board to be most advantageous. The principal
of or interest on any bonds issued or obligations assumed by an...
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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...
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8-3-42
Section 8-3-42 Sureties entitled to summary judgment against principal and between each other.
Sureties, whether bound on the contract or instrument with the principal debtor as joint or
joint and several obligors or promisors, as accommodation drawers, acceptors, or endorsers
of a bill of exchange or in any other manner, are entitled to a summary judgment against their
principal and between each other, by motion in the circuit court on three days' notice thereof,
in the cases, and in the following manner: (1) Against the principal debtor: a. When a judgment
has been obtained against the surety which he has satisfied, either wholly or in part, for
the amount paid and interest; b. When a surety or sureties are sued without their principal
upon notice given to the principal of the pending action if judgment is obtained against the
surety, judgment for the same amount must be entered against the principal in favor of the
surety. (2) Between sureties: a. A surety who has paid the debt of...
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