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9-9-39
Section 9-9-39 Bonds - Payment of principal and interest. The principal and interest of bonds
issued under this article shall be payable at such place or places as the board of commissioners
may designate. At least two weeks before the principal and interest of any bonds are due and
payable, it shall be the duty of the treasurer of the water management district to forward
to the place of payment named in such bonds an amount sufficient to meet the principal and
interest thereon coming due together with the customary fee of such paying back, not to exceed
one fourth of one percent. It shall be the duty of the board of water management commissioners
in making the annual tax levy as provided in this article to take into account the maturing
bonds and interest on all bonds and to make ample provisions in advance for the payment thereof.
In case the proceeds of the original tax levy made under the provisions of this article are
not sufficient to pay the principal and interest of all the...
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10A-20-8.03
Section 10A-20-8.03 Withdrawal from parent organization and use of fraternal property free
from trust clause. (a) The majority group of any local organization may withdraw from the
parent organization and, upon withdrawal, shall be permitted to devote the fraternal property
to the uses originally intended free of the influence of the trust clause; provided, that
the facts upon which the right of withdrawal is conditioned under this section shall be judicially
determined to exist in and by a judicial proceeding as provided for in this article. (b) While
this article is not intended to control any rules, fraternal, educational, social, or other
formula or practice of the parent organization, one of its purposes is to afford an effective
remedy and procedure for the preservation and protection of trust, charitable, educational,
or fraternal property from impairment or loss thereof when the intended trust use thereof
is threatened as a proximate result of subsequent action by the parent...
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10A-2A-1.50
Section 10A-2A-1.50 Effect of ratification. From and after the validation effective time, and
without regard to the 120-day period during which a claim may be brought under Section 10A-2A-1.52:
(a) Each defective corporate action ratified in accordance with Section 10A-2A-1.47 shall
not be void or voidable as a result of the failure of authorization identified in the action
taken under Section 10A-2A-1.47(a) or (b) and shall be deemed a valid corporate action effective
as of the date of the defective corporate action; (b) The issuance of each share of putative
stock or fraction of a share of putative stock purportedly issued pursuant to a defective
corporate action identified in the action taken under Section 10A-2A-1.47 shall not be void
or voidable, and each such share of putative stock or fraction of a share of putative stock
shall be deemed to be an identical share of stock or fraction of a valid share of stock as
of the time it was purportedly issued; and (c) Any corporate action...
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11-50-317
Section 11-50-317 Pledge of revenues from and mortgaging of systems for payment of bonds. Any
bonds issued by a corporation organized under this article for any purpose for which it is
authorized by law to borrow money and issue its bonds, without regard to the system for the
benefit of or with respect to which such bonds may be issued, may be made payable out of the
revenues from all systems owned by the corporation or out of the revenues from any one or
more systems owned by the corporation, and any such corporation may pledge for the payment
of any of its bonds the revenues from which such bonds are payable and may mortgage, pledge,
or otherwise convey as security for such bonds the system or systems the revenues from which
are so pledged. (Acts 1951, No. 175, p. 416, §9.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50-317.htm - 1K - Match Info - Similar pages
11-81-166
Section 11-81-166 Revenue bonds - Authority for issuance; authorization proceedings generally;
form, terms, denominations, etc.; execution and delivery generally; maturity and sale; payment
generally; trust indentures. (a) Any borrower may issue its revenue bonds for the purpose
of: (1) Financing the acquisition, improvement, enlargement, extension and repair, or any
of them, of a system or systems; (2) Refunding the principal of and the interest on any bonds
of such borrower theretofore issued under this article and then outstanding, whether or not
such principal and interest shall have matured at the time of such refunding; or (3) Financing
any such acquisition, improvement, enlargement, extension and repair, or any of them, and
refunding any such principal and interest. (b) Any bonds issued under this article shall be
made payable solely out of the revenues from the operation of a system or systems of the borrower
and may be made payable from any such revenues without regard to...
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11-88-101
Section 11-88-101 Replacement of lost, mutilated, or destroyed bonds. Whenever it shall be
made to appear to the board by clear and satisfactory evidence that any bond issued under
this article has been lost, destroyed, or mutilated so that the same is not held by any person
as his property, then the authority shall issue a duplicate of such lost, destroyed, or mutilated
bond in like amount, bearing like interest and executed and marked in like manner as the bond
so proved to have been lost, destroyed, or mutilated. But the owner of such lost, destroyed,
or mutilated bond shall first execute a penal bond in double the amount of the bond sought
to be replaced, together with the amount of interest which has or might thereafter accrue
thereon, with some surety company qualified to do business in the State of Alabama, to be
approved by the board and payable to the authority, with condition to indemnify and save harmless
such authority from any claim whatsoever because of such lost,...
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15-5-62
Section 15-5-62 Definitions. For the purposes of this article, the following words shall have
the following meanings: (1) FELONY OFFENSE. Any act that could be charged as a felony criminal
offense under the Code of Alabama 1975, whether or not a formal criminal prosecution or delinquent
proceeding began at the time the forfeiture was initiated. (2) FINANCIAL INSTITUTION. A bank,
credit union, or savings and loan association. (3) INNOCENT OWNER. A bona fide purchaser or
lienholder of property that is subject to forfeiture, including any of the following: a. A
person who has a valid claim, lien, or other interest in the property seized who did not know
or consent to the conduct that caused the property to be forfeited, seized, or abandoned under
subdivision (1) of Section 15-5-63. b. A person who did not participate in the commission
of a crime or delinquent act giving rise to the forfeiture. c. A victim of an alleged criminal
offense. (4) INSTITUTED PROMPTLY. The filing by the district...
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15-5-65
Section 15-5-65 Disposition of proceeds. (a) Unless by other agreement of the primary law enforcement
agency and the prosecutorial entity, the proceeds from any forfeiture shall be used, first,
for payment of all proper expenses of the proceedings for forfeiture and sale, including expenses
of seizure, maintenance of or custody, advertising, prosecution, and court costs. The remaining
proceeds from the sale or distribution shall be awarded by the court pursuant to recommendation
of the prosecutorial entity on a pro rata share to the participating law enforcement agencies,
the prosecutorial entity that pursued the action, and as payment of restitution to any victims
of the underlying offense. Any proceeds from sales authorized by this section awarded by the
court to a county or municipal law enforcement agency shall be deposited into the respective
county or municipal general fund and made available to the appropriate law enforcement agency
upon requisition of the chief law enforcement...
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16-13-103
Section 16-13-103 Validity of warrants. Warrants reciting that they are issued pursuant to
the terms of this article shall in any action or proceeding involving their validity be conclusively
deemed to be fully authorized thereby and to have been issued, sold, executed and delivered
in conformity therewith and with all other provisions of law applicable thereto and shall
be incontestable, anything herein or in other statutes to the contrary notwithstanding, unless
such action or proceeding is begun before or within 30 days after the day upon which the warrants
are delivered and paid for, and no irregularity in the proceedings to authorize the issue
of warrants hereunder nor the omission or neglect of any officer charged with the execution
of any duties imposed by this article shall affect the validity of any warrants issued hereunder;
provided, that the issuance of such warrants shall have been approved by the State Superintendent
of Education. (Acts 1939, No. 186, p. 334, § 14; Code...
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16-13-106
Section 16-13-106 Records. The county board of education or the city board of education, as
the case may be, shall keep in its minutes a complete record of all warrants issued under
the provisions of this article, which record shall show upon what authority the warrants are
issued, the amounts in which issued, the persons to whom issued, the dates of issue, the purpose
or purposes for which issued, the rate of interest to be paid and the time and place of payment
of each installment of principal and interest. It shall be the duty of the superintendent
of education to prepare in duplicate on the first day of October in each year, and whenever
additional warrants are issued, a record showing all of the information required by this section
as to all warrants then outstanding, and he shall deliver one copy of each such record to
the custodian of county school funds or the treasurer of the city school funds, as the case
may be. (Acts 1939, No. 186, p. 334, § 17; Code 1940, T. 52,...
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