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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23-1-313
Section 23-1-313 Bonds and notes - Disposition of proceeds from sale. The authority shall pay
out of the proceeds from the sale of the obligations authorized by this article all expenses
that the board of directors may deem necessary and advantageous in connection with the sale
and issuance thereof. The proceeds from the issue of any obligations authorized by this article,
(i) except the proceeds of bonds which were issued to pay principal and interest of temporary
bonds or notes and in anticipation of which such temporary bonds or notes shall have been
issued, and (ii) except the proceeds of refunding bonds issued to refund any outstanding obligation,
remaining after paying the expenses of their sale and issuance, shall be deposited in the
State Treasury, shall be credited to the Road and Bridge Fund and shall be subject to be withdrawn
by the authority, upon the approval of the State Department of Transportation and the Governor,
but only for the purpose of paying the federal share...
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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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11-20-11
Section 11-20-11 Counties not to contribute costs of acquisition of projects or county lands
therefor. No county shall have the power to pay out of its general funds or otherwise contribute
any part of the costs of acquiring a project and shall not have the power to use land already
owned by the county or in which the county has an equity for construction thereon of a project
or any part thereof. The entire cost of acquiring any project must be paid out of the proceeds
from the sale of bonds issued under the authority of this article; provided, however, that
this provision shall not be construed to prevent a county from accepting donations of property
to be used as a part of any project or money to be used for defraying any part of the cost
of any project. (Acts 1961, Ex. Sess., No. 178, p. 2147, §9.)...
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11-54-30
Section 11-54-30 Municipalities not to contribute to costs of acquisition of projects or use
municipal lands for projects. No municipality shall have the power to pay out of its general
funds or otherwise contribute any part of the costs of acquiring a project and shall not have
the power to use land already owned by the municipality or in which the municipality has an
equity for construction thereon of a project or any part thereof. The entire cost of acquiring
any project must be paid out of the proceeds from the sale of bonds issued under the authority
of this article; provided, however, that this provision shall not be construed to prevent
a municipality from accepting donations of property to be used as a part of any project or
money to be used for defraying any part of the cost of any project. (Acts 1951, No. 756, p.
1307, §9.)...
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11-55-13
Section 11-55-13 Authority of cities or towns to acquire, etc., and lease facilities to United
States Postal Service; issuance of bonds, etc., to finance acquisitions. Any city or town
in this state (1) May acquire (by construction, purchase or otherwise), improve and equip
land, buildings and other facilities for use by the United States Postal Service; (2) May
lease any such land, buildings or facilities to the United States Postal Service on such terms
and conditions as shall be mutually agreeable to such city or town and the United States Postal
Service; (3) May borrow money for the purpose of financing the costs of any such acquisition,
improvement and equipment; (4) May issue, in evidence of such borrowing, bonds, warrants,
notes or other securities (which such bonds, warrants, notes or other securities shall mature
and come due not later than 30 years from their date but shall otherwise be issued in accordance
with, and shall be subject to, applicable provisions of law); (5) May...
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22-23B-8
Section 22-23B-8 Funding of a loan. (a) In order to provide for the funding of a loan by the
authority for a project to the public body, such public body shall, to the extent required
by the authority as a condition precedent to the making of a loan, establish a dedicated source
of revenue to repay the moneys received from the authority and to provide for operation, maintenance
and equipment replacement expenses. Such public body is hereby authorized and empowered, any
existing statute to the contrary notwithstanding, to do and perform any one or more of the
following: To obligate itself to pay to the authority at periodic intervals a sum sufficient
to provide bond debt service with respect to the bonds of the authority issued to fund the
loan for such project; To levy, collect and pay over to the authority and to obligate itself
to continue to levy, collect and pay over to the authority the proceeds of any one or more
of the following: Any fee or charge for services from any one or...
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22-34-11
Section 22-34-11 Dedicated source of revenue to repay moneys; default; accounting standards.
(a) In order to provide for the funding of the loan by the authority for a project to the
public body, such public body shall establish a dedicated source of revenue to repay the moneys
received from the authority and to provide for operation, maintenance and equipment replacement
expenses. Such public body is hereby authorized and empowered, any existing statute to the
contrary notwithstanding, to do and perform any one or more of the following: (1) To obligate
itself to pay to the authority at periodic intervals a sum sufficient to provide bond debt
service with respect to the bonds of the authority issued to fund the loan for such project
and to pay over such debt service to the account of the project for deposit to the revolving
loan fund; (2) To levy, collect and pay over to the authority and to obligate itself to continue
to levy, collect and pay over to the authority the proceeds of any...
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41-10-468
Section 41-10-468 Use of proceeds from sale of bonds. All proceeds derived from the sale of
any bonds (except refunding bonds) sold by the authority remaining after payment of the expenses
of issuance thereof and the funding of any required reserve or replacement fund shall be turned
over to the State Treasurer, shall be carried by the State Treasurer in a special account
to the credit of the authority, and shall be subject to be drawn on by the authority solely
for the purposes of constructing, renovating, reconstructing, improving, altering, adding
to, demolishing, and equipping one or more public office buildings (including the State Capitol),
surfacing and resurfacing of land for parking and other uses to produce revenue, and all reasonable
and necessary expenses incidental thereto, including interest which shall accrue on said bonds
during the construction, renovation, reconstruction, improvement, alteration, addition, demolition,
and equipping of said buildings, surfacing and...
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11-54-148
Section 11-54-148 No contribution by municipality. No municipality shall have the power to
pay out of its general funds or otherwise contribute any part of the costs of acquiring a
project, and shall not have the power to use land already owned by the municipality, or in
which the municipality has an equity, for construction thereon of a project or any part thereof;
provided, however, that municipal property which is not needed for public or municipal purposes
may be sold for fair market value or leased for fair market rental for a project; such fair
market values to be conclusively determined by the governing body of the municipality owning
such property. The entire cost of acquiring any project must be paid out of the proceeds from
the sale of bonds issued under the authority of this article; provided, however, that this
provision shall not be construed to prevent a municipality from accepting donations of property
to be used as a part of any project or money to be used for defraying...
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