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11-50A-12
Section 11-50A-12 Bond provisions; destroyed bonds; interest; cancellation; paying agents.
(a) If any bond becomes mutilated or is lost, stolen, or destroyed, the authority may execute
and deliver a new bond of like date of issue, maturity date, principal amount, and interest
rate per annum as the bond so mutilated, lost, stolen, or destroyed. The new bond shall have
attached thereto coupons corresponding in all respects to those, if any, on the bond mutilated,
lost, stolen, or destroyed; provided, that (i) in the case of any mutilated bond, that bond
together with all unmatured coupons appertaining thereto is first surrendered to the authority,
(ii) in the case of any lost, stolen, or destroyed bond, there is first furnished evidence
of the loss, theft, or destruction satisfactory to the authority together with indemnity satisfactory
to the authority, (iii) all other reasonable requirements of the authority are complied with,
and (iv) expenses in connection with the transaction are...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50A-12.htm - 3K - Match Info - Similar pages
11-81-166
Section 11-81-166 Revenue bonds - Authority for issuance; authorization proceedings generally;
form, terms, denominations, etc.; execution and delivery generally; maturity and sale; payment
generally; trust indentures. (a) Any borrower may issue its revenue bonds for the purpose
of: (1) Financing the acquisition, improvement, enlargement, extension and repair, or any
of them, of a system or systems; (2) Refunding the principal of and the interest on any bonds
of such borrower theretofore issued under this article and then outstanding, whether or not
such principal and interest shall have matured at the time of such refunding; or (3) Financing
any such acquisition, improvement, enlargement, extension and repair, or any of them, and
refunding any such principal and interest. (b) Any bonds issued under this article shall be
made payable solely out of the revenues from the operation of a system or systems of the borrower
and may be made payable from any such revenues without regard to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-81-166.htm - 5K - Match Info - Similar pages
11-50-345
Section 11-50-345 Issuance of revenue bonds authorized; form, terms, denominations, etc.; execution,
sale, etc.; disposition of proceeds from sale of bonds; issuance of interim receipts or temporary
bonds. (a) Any board of water and sewer commissioners created under the provisions of this
article is hereby authorized by resolution, at one time or from time to time, to issue revenue
bonds of the board for the purpose of paying all or any part of the cost of any water system
or sewer system or any combination thereof and the cost of any improvements, extensions, and
additions and for the purpose of refunding any bonds or obligations assumed by the board in
connection with the acquisition of such system or systems or part thereof. The principal of
and the interest on such bonds shall be payable solely from the funds provided by this article
for such payment. The bonds of each issue shall be dated, shall bear interest at such rate
or rates not exceeding 10 percent per annum, shall mature...
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41-10-462
Section 41-10-462 Bonds of authority. Any bonds of the authority may be executed and 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, payable and evidenced in
such manner, may contain provisions for redemption prior to maturity, and may contain other
provisions not inconsistent herewith, all as may be provided by the resolution of the board
of directors whereunder such bonds are authorized to be issued; provided, that no bond of
the authority shall have a specified maturity date later than 30 years after its date. Each
bond of the authority having a specified maturity date more than 10 years after its date shall
be made subject to redemption at the option of the authority at the end of the 10th year after
its date, and on any interest payment date thereafter, under such terms and conditions and
at such premiums, if any, as may be provided in the resolution under which...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-462.htm - 2K - Match Info - Similar pages
11-50A-9
Section 11-50A-9 Issuance of bonds; prerequisites; procedure; provisions; execution; bond resolution
covenants. (a) The authority shall, prior to the adoption by the board of a resolution authorizing
the issuance of any bonds, enter into one or more contracts with two or more municipalities
which are authorized to contract with the authority pursuant to Section 11-50A-17. Any resolution
of the board authorizing the issuance of bonds may authorize those bonds to be issued in more
than one series, and the issuance of each series of bonds so authorized by that resolution
need not be preceded by the entering into by the authority of additional contracts pursuant
to Section 11-50A-17. (b) The board may by resolution or resolutions authorize the issuance
of bonds. Unless otherwise provided therein, the resolution or resolutions shall take effect
immediately and need not be published or posted. The board may authorize such types of bonds
as it may determine, subject only to any agreement with...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50A-9.htm - 8K - Match Info - Similar pages
41-10-469
Section 41-10-469 Use of proceeds of refunding bonds. The proceeds of refunding bonds shall
be applied, together with any other moneys legally available therefor, to the payment of the
expenses authorized by this article and to the payment of the principal of, premium, if any,
and interest due and to become due on any outstanding bonds to be refunded thereby and, if
so required by resolution of the authority, shall be deposited in the State Treasury in an
interest account to pay interest on refunding bonds, and in the State Treasury in a reserve
account to further secure the payment of the principal of, premium, if any, and interest on
any refunding bonds. The expenses authorized by this article shall include, in addition to
expenses authorized by other sections hereof, all expenses that the board of directors may
deem necessary or advantageous in connection with the sale and issuance of such refunding
bonds, including without limitation, the expenses of selling and issuing such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-469.htm - 7K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-97-9.htm - 4K - Match Info - Similar pages
16-16A-7
Section 16-16A-7 Additional findings; bonds authorized; procedures. (a) The Legislature finds
that the number of students attending the several school systems located in those areas of
North Alabama that will be directly impacted by the 2005 BRAC and Subsequent BRAC Actions
will collectively increase by an estimated 9,000 students. As a result, there will be a need
for the construction of additional school facilities as well as the renovation of existing
school facilities. The Legislature also finds that the 2005 BRAC and Subsequent BRAC Actions
will have a positive impact on future receipts to the Education Trust Fund, as the significant
population growth in North Alabama will increase sales, income, and other tax collections.
Thus, it is an efficient use of state funds to allow such revenue growth to help pay for capital
improvement costs associated with BRAC-related school construction. (b) The Alabama Public
School and College Authority is hereby authorized to sell and issue its...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-16A-7.htm - 24K - 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
11-92C-8
Section 11-92C-8 Powers of authority. (a) The 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 in perpetuity,
subject to Section 11-92C-20, 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; provided that the authority shall be deemed to be
a governmental entity as defined in Chapter 93 of this title for the purpose of limiting the
damages for which the authority may be liable. (3) To adopt and make use of a corporate seal
and to alter the seal at its 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...
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