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11-92B-12
Section 11-92B-12 Bonds of the authority. (a) Bonds of an authority shall be signed by the
chair or vice chair and attested to by the secretary or assistant secretary. The seal of an
authority shall be affixed thereto. A facsimile of the signature of the officers may be printed
or otherwise reproduced on any such bonds in lieu of being manually subscribed thereon, and
a facsimile of the seal of an authority may be printed or otherwise produced on any such bonds
in lieu of being manually affixed thereto, provided that the bonds have been manually authenticated
by a transfer agent of the bonds issued. Delivery of the bonds so executed shall be valid
notwithstanding any subsequent changes in officers or in the seal of an authority. (b) Bonds
may be executed and delivered by an authority at any time. The bonds shall be in such form
and denominations and of such tenor and maturities, shall bear such rate or rates of interest
or no interest, shall be payable at such times, and shall be...
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11-92C-9
Section 11-92C-9 Bonds of authority. (a) Source of payment. All bonds issued by an authority
shall be payable solely out of the revenues and receipts derived from the leasing or sale
by the board of its projects, or from any other source as may be designated in the proceedings
of the board under which the bonds are authorized to be issued. (b) Pledge of revenues, receipts,
and other security. The principal and interest on any bonds issued by an authority shall be
secured by a pledge of the revenues and receipts out of which the principal and interest may
be payable and may be secured by a mortgage and deed of trust or trust indenture conveying
as security for the bonds all or any part of the property of the authority from which the
revenues or receipts so pledged may be derived. (c) Resolutions. The resolution under which
the bonds of an authority are authorized to be issued and any mortgage and deed of trust or
trust indenture may contain any agreements and provisions respecting the...
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41-10-751
Section 41-10-751 Definitions. When used in this article, the following terms shall have the
following meanings, unless the context clearly indicates otherwise: (1) ALABAMA TRUST FUND.
The trust fund of the state created under Amendment 450 to the Constitution of Alabama of
1901, and appearing as ยง219.02 of the Official Recompilation of the Constitution of Alabama
1901, as amended. (2) APPROPRIATED FUNDS. The BP settlement revenues deposited in the special
fund to the extent such revenues are appropriated to the authority pursuant to Section 41-10-759.
(3) AUTHORITY. The Alabama Economic Settlement Authority authorized to be established pursuant
to Section 41-10-752. (4) BONDS. Those bonds, including refunding bonds, issued pursuant to
this article. (5) BP SETTLEMENT REVENUES. Revenues received by the state in settlement of
economic damages claims of the state against BP Exploration and Production, Inc. and any of
its corporate affiliates arising out of the Deepwater Horizon oil spill...
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45-30-250.06
Section 45-30-250.06 Additional powers and rights. (a) The authority, in addition to all other
powers now or hereafter granted by law, shall have the following powers and rights: (1) To
borrow money for use for any of its corporate purposes. (2) To sell, transfer, convey, grant
options to purchase, or lease all or any part of its system or systems for consideration and
on terms deemed advisable and in the best interest of the authority. (3) To consent and agree
to the assignment or payment of any income received from the investment of any moneys or funds
of the authority to any other public corporation or public entity, including, without limitation,
the county or the state. (4) To loan or advance its funds to any person with or without interest
as it shall determine, for the purpose of financing the construction of a system or any part
thereof. (5) To contract with others for the construction of all or any part of a system or
systems. (b) The moneys held in any special fund...
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45-30-250
Section 45-30-250 Definitions. When used in this article, the following words and phrases shall
have the following meanings, respectively, unless the context clearly indicates otherwise:
(1) AUTHORITY. The Franklin County Water Service Authority, a public corporation organized
pursuant to this article. (2) BOARD. The Board of Directors of the Franklin County Water Service
Authority. (3) BONDS. Bonds, notes, and certificates representing an obligation to pay money.
(4) CONCISE LEGAL DESCRIPTION. A reasonably concise description of a particular geographic
area by metes and bounds, reference to government surveys, recorded maps or plats, municipal,
county, or state boundary lines, well-defined landmarks, other monuments, or any combination
of the foregoing. (5) COUNTY. Franklin County. (6) DIRECTOR. A member of the Board of Directors
of the Franklin County Water Service Authority. (7) INCORPORATORS. The persons forming a public
corporation organized pursuant to this article. (8)...
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11-47-210.1
Section 11-47-210.1 Legislative findings and declarations. The Legislature finds and declares
all of the following: (1) Through this article, the Legislature has (i) granted to each municipality
in the state, acting either individually or in cooperation with one or more other municipalities,
the power to acquire, operate, manage, and control parks, playgrounds, and other recreational
or athletic facilities and to authorize the organization of an authority, as a public corporation,
to act on behalf of the municipality or municipalities in providing for the ownership and
management of parks, playgrounds, and other recreational or athletic facilities, (ii) provided
for the organization of the authorities, and (iii) specified certain powers to be enjoyed
by such an authority. (2) In order to facilitate the accomplishment of the legislative objectives
reflected in this article and to provide for a greater degree of mutual cooperation among
separate political subdivisions, it is necessary,...
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11-54-178
Section 11-54-178 Powers of authority; location of projects; public meetings. (a) An authority
shall have the following powers, together with all powers incidental thereto or necessary
to the discharge thereof in corporate form: (1) To have succession by its corporate name for
the duration of time (which may be perpetuity, subject to the provisions of Section 11-54-189)
specified in its certificate of incorporation. (2) To sue and be sued in its own name and
to prosecute and defend civil actions in any court having jurisdiction of the subject matter
and of the parties. (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, whether by purchase, construction, exchange, gift, lease, or otherwise
and to refinance existing indebtedness on, improve, maintain, equip, and furnish one or more
projects, including all real and personal properties which the board of...
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11-57-8
Section 11-57-8 Powers - Generally. The authority shall have the following powers and capacities,
among others specified in this chapter, together with all powers incidental thereto or necessary
to the discharge thereof: (1) To have succession by its corporate name until dissolved as
provided in this chapter; (2) To sue others and to prosecute civil actions; (3) To be sued
by others in any form of litigation other than an action ex delicto and to defend any litigation
brought against it; (4) To have and use a corporate seal and to alter the same at pleasure;
(5) To adopt and alter bylaws for the regulation and conduct of its affairs and business;
(6) To acquire, whether by purchase, gift, lease, devise, or otherwise, property of every
description which the board may deem necessary or desirable to the acquisition, construction,
reconstruction, improvement, enlargement, equipment, operation, or maintenance of a project
and to hold title thereto; (7) To construct, enlarge, improve, equip,...
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22-21-137
Section 22-21-137 Powers - Generally. The authority shall have the following powers and capacities,
among others specified in this article, together with all powers incidental thereto or necessary
to the discharge thereof: (1) To have succession by its corporate name until dissolved as
provided in Section 22-21-154; (2) To maintain actions and have actions maintained against
it by others in any form of litigation other than an action ex delicto, and to defend any
litigation brought against it; (3) To have and use 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, whether by purchase, gift, lease, devise or otherwise, property
of every description which the board may deem necessary or desirable to the acquisition, construction,
reconstruction, improvement, enlargement, equipment, operation or maintenance of a project
and to hold title thereto; (6) To construct, enlarge, improve,...
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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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