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11-50-237
Section 11-50-237 Execution, sale, etc., of bonds and refunding bonds of corporation generally;
terms, denominations, etc., thereof; charge, application, etc., of revenues from systems to
payment of bonds, etc., generally; vesting of title to systems in municipality and dissolution
of corporation upon payment of bonds in full. (a) All bonds issued by any corporation organized
under this division shall be signed by the chairman of its board of directors or other chief
executive officer and attested by its secretary, and the seal of such corporation shall be
affixed thereto. Any interest coupons applicable to the bonds of such corporation shall be
signed by the chairman of the board of directors or other chief executive officer, but a facsimile
of such signature may be impressed on any such interest coupon in lieu of his manually signing
the same. Any such bonds may be executed and delivered by such corporation at any time and
from time to time, shall be in such form and denominations...
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11-97-9
Section 11-97-9 Bonds of corporation generally. (a) Any corporation shall have the power to
issue, sell and deliver at any time and from time to time its bonds in such principal amount
or amounts as its board shall determine to be necessary to provide sufficient funds for achieving
any of its corporate purposes, including the payment of interest on any of its bonds, the
establishment of reserves to secure any such bonds and all other expenditures of such corporation
incident to and necessary or convenient to carry out its corporate purposes and powers. Any
corporation shall also have the power to issue from time to time bonds to renew bonds and
bonds to pay bonds, including interest thereon and, whenever it deems refunding expedient,
to refund any bonds by the issuance of new bonds, whether the bonds to be refunded have or
have not matured, and to issue bonds partly to refund bonds then outstanding and partly for
any other of its corporate purposes. (b) The bonds issued by any...
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41-10-350
Section 41-10-350 Legislative findings and purpose. The Legislature hereby finds and declares
that it is necessary, desirable and in the public interest that additional facilities be made
available in this state for mental health purposes. It is the intention of the Legislature
by the passage of this article to authorize the formation of a public corporation for the
purpose of providing for the acquisition, construction, improvement and equipment of the mental
health facilities (including improvements to existing facilities), and to authorize the said
corporation, in order to provide for payment of the costs of the said facilities, to anticipate
the proceeds of that portion of a special state tax (originally levied by Act No. 275, adopted
at the 1967 Regular Session of the Legislature of Alabama), that was levied for mental health
purposes by the issuance of the bonds of the said corporation payable solely from the proceeds
of the said tax. (Acts 1988, No. 88-475, p. 739, ยง1.)...
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41-10-456
and affairs; (5) to establish a fiscal year; (6) to provide for the construction, renovation,
reconstruction, improvement, alteration, addition, demolition, equipment, operation and maintenance
of public office building facilities (including the State Capitol), surfacing and resurfacing
of land for parking and other uses to produce revenue and for the procurement of sites and
equipment for such facilities; (7) to receive, take and hold by sale, gift, lease, devise
or otherwise, real and personal property of every description, and to manage the same;
(8) to acquire by purchase, gift, or any other lawful means, and to transfer, convey or cause
to be conveyed to the state, any real, personal or mixed property; (9) to borrow money
and issue its bonds in evidence thereof subject to the provisions of this article; (10) to
anticipate by the issuance of its bonds as hereinafter limited the receipt of the revenues
from such public office buildings; (11) as security for the payment of the...
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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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11-49B-8
Section 11-49B-8 Rates and charges. Rates, fees, and charges for public transportation service
rendered by the authority from any of its transit systems shall be fixed and revised to provide
funds that, when added to all other revenues, including tax proceeds, anticipated to be received
by the authority, will be at least sufficient: (1) To pay the cost of operating, maintaining,
repairing, replacing, extending, and improving the systems from which the services are rendered.
(2) To pay the principal and the interest on all bonds issued and obligations assumed by the
authority, that are payable out of the revenues derived from operation of those systems, as
the principal and interest become due and payable. (3) To create and maintain reserve for
the foregoing purposes or as may be provided in any mortgage and deed of trust or trust indenture
executed by the authority or in any resolutions of the board authorizing the issuance of bonds,
the assumption of any obligation, or the acquisition...
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11-62-8
any authority may enter into contracts with the holders of any of its bonds or notes preventing
such authority from thereafter issuing general obligation bonds or notes or limiting the amount
of such bonds or notes that may thereafter be issued. To the extent permitted by any contracts
with the holders of outstanding bonds and notes and any other contractual obligations or requirements,
any authority 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 or notes. (d) All obligations created or assumed by any authority and all bonds
or notes issued thereby shall be solely and exclusively an obligation of such authority and
shall not create an obligation or debt of the state, the determining municipality or any other
political subdivision of the state or public corporation or governmental agency existing under
the laws thereof; provided, that the provisions of this...
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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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45-49-90.08
Section 45-49-90.08 Bonds of the corporation. (a) All bonds issued by the corporation shall
be payable solely out of the revenues and receipts derived from the leasing or sale by the
corporation of its industrial sites or of any thereof as may be designated in the proceedings
of the board of directors under which the bonds shall be authorized to be issued. (b) Such
bonds may be executed and delivered by the corporation at any time and from time to time,
may be in such form and denominations and of such tenor and maturities, may be in registered
or bearer form either as to principal or interest or both, may be payable at such time or
times, not exceeding 40 years from the date thereof, may be payable at such place or places
whether within or without the State of Alabama, may bear interest at such rate or rates payable
at such time or times and at such place or places and evidence in such manner, may be executed
by such officers of the corporation and in such manner and may contain such...
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45-49A-64.07
be perpetual, subject to Section 45-49A-64.19) specified in its certificate of incorporation.
(2) To sue and be sued in its own name in civil suits and actions and to defend suits against
it. (3) To adopt and make use of a corporate seal and to alter the same at pleasure. (4) To
adopt and alter bylaws for the regulation and conduct of its affairs and business. (5) To
acquire, receive, and take, by purchase, gift, lease, devise, or otherwise, and to hold property
of every description, real, personal, or mixed, whether located in one or more counties
or municipalities and whether located within or outside the authorizing municipality. (6)
To make, enter into, and execute such contracts, agreements, leases, and other instruments
and to take other actions as may be necessary or convenient to accomplish any purpose for
which the authority was organized or to exercise any power expressly granted hereunder. (7)
To plan, establish, develop, acquire, purchase, lease, construct, reconstruct,...
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