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41-10-308
Section 41-10-308 Temporary loans in anticipation of issuance of bonds. In anticipation of
issuance of bonds under this article, the authority may, from time to time, borrow such sums
as may be needed for any of the purposes for which bonds are authorized to be issued under
this article, and in evidence of the moneys so borrowed may issue its promissory notes. The
principal of and the interest on notes so issued may, from time to time, be refunded by refunding
notes or by bonds in anticipation of the issuance of which such notes were issued. All such
notes, whether initial issues or refunding issues, may bear interest from their dates until
their maturities at such rate or rates as may be deemed acceptable by the board of directors,
not to exceed 15 percent per annum, shall mature within three years from their date, and the
principal thereof, premium, if any, and interest thereon shall be payable solely from the
proceeds of the refunding notes issued to refund any such notes...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-308.htm - 1K - Match Info - Similar pages
41-10-498
Section 41-10-498 Temporary loans in anticipation of issuance of bonds. In anticipation of
issuance of bonds under this article, the authority may, from time to time, borrow such sums
as may be needed for any of the purposes for which bonds are authorized to be issued under
this article, and in evidence of the moneys so borrowed by issue of its promissory notes.
The principal of and the interest on notes so issued may, from time to time, be refunded by
refunding notes or by bonds in anticipation of the issuance of which such notes were issued.
All such notes, whether initial issues or refunding issues, may bear interest from their dates
until their maturities at such rate or rates as may be deemed acceptable by the board of directors,
not to exceed 15 percent per annum, shall mature within three years from their date, and the
principal thereof, premium, if any, and interest thereon shall be payable solely from the
proceeds of the refunding notes issued to refund any such notes...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-498.htm - 1K - Match Info - Similar pages
11-81-165
Section 11-81-165 Borrowing in anticipation of sale and issuance of bonds authorized; procedure
therefor. (a) Any municipality or county in the state may at any time and from time to time,
in anticipation of the sale and issuance of revenue bonds under the provisions of this article,
as amended, borrow money for temporary use for any purpose or purposes for which revenue bonds
are authorized to be issued under this article and in evidence of such borrowing may issue
interest-bearing notes. (b) Each such note shall be a limited or special obligation of the
issuing municipality or county, payable as to both principal and interest solely from the
same revenues out of which such revenue bonds are proposed to be issued or from the proceeds
from the sale of such revenue bonds or from both said revenues and said bond proceeds, shall
be made payable not later than 24 months after its date, shall be signed as the governing
body of said municipality or county may prescribe, may be sold at public...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-81-165.htm - 2K - Match Info - Similar pages
11-50-350
Section 11-50-350 Revenue refunding bonds. (a) The board is hereby authorized to provide by
resolution for the issuance of revenue refunding bonds of the board for the purpose of refunding
any bonds then outstanding which shall have been assumed by the board or shall have been issued
under the provisions of this article, including the payment of any redemption premium thereon
and any interest accrued or to accrue to the date of redemption of such bonds and, if deemed
advisable by the board, for the additional purpose of constructing improvements, extensions,
or enlargements of the water system or sewer system in connection with which the bonds to
be refunded shall have been issued. (b) The board is further authorized to provide by resolution
for the issuance of its revenue bonds for the combined purpose of: (1) Refunding any bonds
then outstanding which shall have been assumed by the board or shall have been issued under
the provisions of this article, including the payment of any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50-350.htm - 1K - Match Info - Similar pages
41-10-55
Section 41-10-55 Issuance and sale of bonds authorized generally; form, terms, denominations,
etc., thereof; bonds to be deemed negotiable instruments; redemption. Bonds of the authority
may be sold from time to time as the board of directors may deem advantageous; provided, that
the aggregate principal amount of bonds of the authority which may be issued under this article
shall be limited to $20,000,000.00, but the said limitation shall not apply to refunding bonds
which may be issued under this article and also shall not apply to bonds of the authority
which may be issued under any other act which may at any time hereafter be enacted. The bonds
shall be in such forms and denominations and of such tenor and maturities, shall bear such
rate or rates of interest payable and evidenced in such manner and may contain other provisions
not inconsistent with this article as may be provided in the resolution or resolutions of
the board of directors of the authority wherein the bonds are...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-55.htm - 3K - Match Info - Similar pages
11-54-91
Section 11-54-91 Borrowing of money for temporary use and issuance of temporary revenue bonds
as evidence thereof. (a) Any industrial development board organized under the provisions of
this division, as amended, may, in addition to the other powers granted in the other provisions
of this division, borrow money for temporary use for any of its corporate purposes and, in
evidence of such borrowing, issue from time to time revenue bonds or notes maturing not later
than 18 months from the date of issuance. (b) Any such temporary borrowing may be made in
anticipation of the sale and issuance of long-term revenue bonds; and, in such event, the
principal proceeds from the sale of such long-term revenue bonds shall, to the extent necessary,
be used for payment of the principal of and the interest on the temporary revenue bonds or
notes issued in anticipation of the sale and issuance of such long-term revenue bonds. (c)
Any such temporary borrowing may also be made with respect to a project...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54-91.htm - 2K - Match Info - Similar pages
16-13-304
Section 16-13-304 Terms and conditions; sale; use of proceeds. (a)(1) Warrants issued pursuant
to this article may be in the denomination or denominations; shall have a maturity or maturities
not exceeding 30 years from their date; may bear interest from their date at the rate or rates
payable in the manner and at the times; may be payable at the place or places within or without
the State of Alabama; may be sold for such price and in the manner as provided in this article;
and may contain the terms not in conflict with the provisions of this article; all as the
board may provide in the proceedings pursuant to which the warrants are authorized to be issued.
(2)(i) The board may provide that the warrants shall bear interest at a rate or rates fixed
at the time of the issuance thereof. (ii) With the prior, specific approval of the State Superintendent,
given as provided in this article, the board may provide that the warrants shall bear interest
at rates which may be changed from time to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-13-304.htm - 5K - Match Info - Similar pages
16-18A-5
Section 16-18A-5 Revenue bonds - Issuance; negotiable, forms, terms, etc.; refunding bonds;
security. The authority shall have power and is hereby authorized from time to time to provide
by resolution for the issuance of negotiable revenue bonds for the purpose of paying all or
any part of the cost as herein defined of any of its projects. Such bonds may also be issued
to pay off, refund or refinance any outstanding bonds or other obligation of any nature owed
by the authority, whether or not such revenue bonds or other obligations shall then be subject
to redemption, and the authority may provide for such arrangements as it may determine for
the payment and security of the revenue bonds being issued or for the payment and security
of the revenue bonds or other obligations to be paid off, refunded or refinanced. The principal,
premium, if any, and interest of such revenue bonds shall be payable solely from the revenues,
receipts and earnings to be received by the authority in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-18A-5.htm - 5K - Match Info - Similar pages
41-10-363
Section 41-10-363 Refunding bonds; proceeds of sale of refunding bonds. Any bonds issued by
the authority under this article may from time to time thereafter be refunded by the issuance
of refunding bonds of the authority. Any such refunding bonds may be issued whether the bonds
to be refunded shall have then matured or shall thereafter mature, and such refunding may
be effected either by sale of the refunding bonds and the applications of the proceeds thereof
to the payment or redemption of the bonds so refunded or by exchange of the refunding bonds
for those to be refunded thereby; provided, that the holders of any bonds so to be refunded
shall not be compelled without their consent to surrender their bonds for payment or exchange
prior to the date on which they are payable or, if they are called for redemption, prior to
the date on which they may be redeemed by the authority according to their terms. Any refunding
bonds may be issued in such aggregate principal amount as the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-363.htm - 2K - Match Info - Similar pages
16-3-28
Section 16-3-28 Authority of board and trustees of institutions to borrow from federal agencies
or others; issuance of bonds, notes and other securities. (a) The State Board of Education,
acting for the respective educational institutions under its supervision, and each public
corporation that conducts one or more state educational institutions under its supervision,
acting through its board of trustees or other governing body, are hereby separately authorized
to exercise and perform any or all of the following powers: (1) To borrow money from the United
States of America or any department or agency thereof, or from any person, firm, corporation
or other lending agency for the purchase, construction, enlargement or alteration of any buildings
or other improvements, including dormitories, dining halls, classrooms, laboratories, libraries,
stadiums, administration buildings and any other buildings and appurtenances thereto suitable
for use by the institution with respect to which the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-3-28.htm - 5K - Match Info - Similar pages
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