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16-17-12
Section 16-17-12 Statutory mortgage lien. Any resolution of the board or trust indenture under
which bonds may be issued pursuant to the provisions of this chapter may contain provisions
creating a statutory mortgage lien in favor of the holders of such bonds and of the interest
coupons applicable thereto on the ancillary improvements or any part thereof (including any
after-acquired property) out of the revenues from which such bonds are made payable. The said
resolution of the board or the said trust indenture may provide for the filing for record
in the office of the judge of probate of each county in which any part of such ancillary improvements
may be located of a notice containing a brief description of such ancillary improvements and
of the land relating thereto, a brief description of such bonds and a declaration that the
said statutory mortgage lien has been created upon such ancillary improvements (and upon such
land as shall be made subject to the lien) for the benefit of...
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16-18-13
Section 16-18-13 Statutory mortgage lien. Any resolution of the board or trust indenture under
which bonds may be issued pursuant to the provisions of this chapter may contain provisions
creating a statutory mortgage lien in favor of the holders of such bonds and of the interest
coupons applicable thereto on the ancillary improvements or any part thereof (including any
after-acquired property) out of the revenues from which such bonds are made payable. The said
resolution of the board or the said trust indenture may provide for the filing for record
in the office of the judge of probate of each county in which any part of such ancillary improvements
may be located of a notice containing a brief description of such ancillary improvements and
of the land relating thereto, a brief description of such bonds, and a declaration that the
said statutory mortgage lien has been created upon such ancillary improvements (and upon such
land as shall be made subject to the lien) for the benefit of...
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24-1-32
Section 24-1-32 Form, denominations, terms, etc., of bonds; sale of bonds; issuance of interim
certificates, etc. The bonds of the authority shall be authorized by its resolution and shall
be issued in one or more series and shall bear such date or dates, mature at such time or
times, not exceeding 60 years from their respective dates, bear interest at such rate or rates,
per annum payable at the time or times, be in such denominations, which may be made interchangeable,
be in such form, either coupon or registered, carry such registration privileges, be executed
in such manner, be payable in such medium of payment, at such place or places, and be subject
to such terms of redemption, with or without premium, as such resolution or its trust indenture
or mortgage may provide. The bonds shall be sold by public or private sale as determined by
the authority. Any public sale of bonds shall be conducted after notice published, at least
10 days prior to the sale in a newspaper published in...
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22-21-141
Section 22-21-141 Bonds - Revenue. The authority is empowered, at any time and from time to
time, to sell and issue its revenue bonds for the purpose of providing funds to acquire, construct,
improve, enlarge, complete and equip one or more projects and for payment of obligations incurred
for any such purpose. The principal of, and interest on, any such bonds shall be payable solely
out of the revenues derived by the authority from any one or more of its projects, all as
shall be provided by the resolution of the board or the indenture whereunder such bonds are
authorized to be issued. Any bonds of the authority may be delivered by it at any time and
from time to time, shall be in such form and denominations and of such tenor and maturities,
shall bear such rate or rates of interest (without regard to any usury or other laws regulating
or limiting interest rates, including without limitation, the provisions of Section 8-8-1,
as amended, all of which shall be inapplicable to any bonds...
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24-1-71
Section 24-1-71 Form, denominations, terms, etc., of bonds; sale of bonds; issuance of interim
certificates, etc. (a) The bonds of the authority shall be authorized by its resolution and
shall be issued in one or more series and shall bear such date or dates, mature at such time
or times, not exceeding 60 years from their respective dates, bear interest at such rate or
rates, payable semiannually, be in such denominations, which may be made interchangeable,
be in such form, either coupon or registered, carry such registration privileges, be executed
in such manner, be payable in such medium of payment, at such place or places, and be subject
to such terms of redemption, with or without premium, as such resolution or its trust indenture
or mortgage may provide. The bonds may be sold at public sale held after both of the following:
(1) A notice shall be published once at least 10 days prior to the sale in a newspaper circulating
in the county. (2) In addition, a notice shall be published...
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22-29-1
Section 22-29-1 Definitions. For the purposes of this chapter, unless otherwise indicated,
the following terms shall have the meanings respectively ascribed to them by this section:
(1) AUTHORITY. The public corporation organized pursuant to the provisions of this chapter
as a public corporation, agency and instrumentality of the state. (2) AUTHORIZING RESOLUTION.
A resolution or order adopted by the board of directors authorizing the issuance of bonds
by the authority or providing for an indenture of trust under and pursuant to which its bonds
are to be issued. (3) BOARD OF DIRECTORS. The board of directors of the authority. (4) BOARD.
The State Board of Health of the State of Alabama or the State Committee of Public Health
or the State Health Officer, whichever at the time has the authority to act in health matters
pursuant to Sections 22-1-3, 22-2-1, 22-2-2, 22-2-6 and 22-2-8. (5) BONDS. The bonds issued
by the authority under the provisions of this chapter. (6) BOND SERVICE...
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11-49A-9
Section 11-49A-9 Rates for public transportation service. Rates, fees, and charges for public
transportation service rendered by the authority from any of its transit systems shall be
fixed and from time to time revised as at all times 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 systems from which such services are rendered; (2) To pay the principal
of 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 said principal
and interest become due and payable; (3) To create and maintain such reserve for the foregoing
purposes or any of them as may be provided in any mortgage and deed of trust or trust indenture
executed by the authority hereunder or in any resolutions of the board...
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11-50A-18
Section 11-50A-18 Revenues of authority; rates; assignment to trustee; use of revenues. (a)
For the purpose of earning sufficient revenues to make possible the payment of all ownership
costs of the authority relating to any project, the authority is authorized, empowered and
directed to fix and revise rates and collect fees, tolls, and other charges with respect to
each project which it shall cause to be acquired or constructed. Such rates, fees, tolls,
and other charges to be paid for the output, capacity, use or service of each project and
other resources of the authority shall be so fixed and adjusted from time to time as to provide
funds at least sufficient with other revenues, if any, of the authority and of each of its
projects: (1) To pay the costs of operating, maintaining, leasing, repairing, and disposing
of projects, including reserves for insurance and extraordinary repairs, reserves for renewals
and replacements, reserves for fuel, reserves for working capital, reserves...
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11-89B-2
Section 11-89B-2 Form, terms, denominations, etc. of bonds; execution and delivery; interest;
sale; issuance of refunding bonds; liability on bonds; source of payment; use of proceeds;
mortgage, deed of trust, etc., containing certain agreements. All bonds issued pursuant to
the provisions of this chapter shall be signed by the chairman of the board of directors or
other governing body or other chief executive officer of such public corporation and attested
by its secretary and the seal of such public corporation shall be affixed thereto; provided,
that a facsimile of the signatures of both of the officers whose signatures will appear on
the bonds may be imprinted or otherwise reproduced thereon in lieu of being manually signed
if the proceedings in which the bonds are authorized to be issued provide for the manual authentication
of such bonds by a trustee, registrar or paying agent; provided further, that a facsimile
of the seal of such public corporation may be imprinted or otherwise...
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11-32-8
Section 11-32-8 Rates and charges. (a) Rates, fees, and charges for public transportation service
rendered by the authority from any of its transit systems shall be so fixed and from time
to time revised as at all times to provide funds that, when added to all other revenues including
tax proceeds anticipated to be received by the authority shall be at least sufficient to do
all of the following: (1) Pay the cost of operating, maintaining, repairing, replacing, extending,
and improving the systems from which such services are rendered. (2) Pay the principal of
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) Create and maintain reserves for the foregoing purposes or any
of them as may be provided in any mortgage, deed of trust, or trust indenture executed by
the authority or in any resolutions of the board authorizing the...
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