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11-60-8
Section 11-60-8 Powers of corporations generally; location of projects of corporations. (a)
The corporation shall have the following powers together with all powers incidental thereto
or necessary for the performance of those hereinafter stated: (1) To have succession by its
corporate name for the period specified in the certificate of incorporation unless sooner
dissolved as provided in this chapter; (2) To sue and be sued and to prosecute and defend
civil actions in any court having jurisdiction of the subject matter and of the parties; (3)
To have and to use a corporate seal and to alter the same at pleasure; (4) To acquire, whether
by purchase, construction, exchange, gift, lease, or otherwise to improve, maintain, equip,
furnish, own, and operate one or more projects, including all real and personal properties
which the board of directors of the corporation may deem necessary in connection therewith,
regardless of whether or not any such projects or any part thereof shall then be...
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11-92C-23
Section 11-92C-23 Loans, sales, grants, guarantees, and contractual or lease obligations of
money or property. (a) For the purpose of securing services of or the right to use or the
use by its citizens or customers of one or more projects of an authority, a cooperative district
of which the authority is a member, or any private user, or aiding or cooperating with the
authority, a cooperative district of which the authority is a member, or any private user
in the planning, development, undertaking, acquisition, construction, extension, improvement,
financing, operation, or protection of a project, any county, municipality, or other political
subdivision, public corporation, agency, or instrumentality of this state, upon such terms
and with or without consideration, as it determines, may do all of the following: (1) Lend
or donate money to, guarantee all or any part of the indebtedness or operating expense of,
or perform services for the benefit of, the authority, a cooperative district...
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27-3-17
Section 27-3-17 Application for certificate of authority - Filing. To apply for an original
certificate of authority an insurer shall file with the commissioner its application therefor,
accompanied by the applicable fees as specified in Section 27-4-2, showing its name, location
of its home office or, if an alien insurer, principal office in the United States, kinds of
insurance to be transacted, state or country of domicile and such additional information as
the commissioner may reasonably require, together with the following documents, as applicable:
(1) A copy of its corporate charter, articles of incorporation or other charter documents
with all amendments thereto, certified by the public officer with whom the originals are on
file in the state or country of domicile; (2) If a mutual insurer, a copy of its bylaws, as
amended, certified by its secretary or other officer having custody thereof; (3) If a foreign
reciprocal insurer, copies of the power of attorney of its...
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11-32-7
Section 11-32-7 Powers of authority. (a) The authority shall exercise powers and duties necessary
to the discharge of its powers and duties in corporate form as follows: (1) Have succession
by its corporate name in perpetuity subject to Section 11-32-20. (2) Sue and be sued in its
own name in civil suits and actions and defend suits against it. (3) Adopt and make use of
a corporate seal and alter the same at its pleasure. (4) Adopt and alter bylaws for the regulation
and conduct of its affairs and business. (5) Acquire, receive, take, by purchase, gift, lease,
devise, or otherwise, and hold property of every description, real, personal, or mixed, whether
located in one or more counties or municipalities and whether located within or outside the
authorizing county. (6) Make, enter into, and execute contracts, agreements, leases, and other
instruments and take other actions as may be necessary or convenient to accomplish any purpose
for which the authority was organized, or exercise any...
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11-94-1
Section 11-94-1 Definitions. Whenever used in this chapter, unless the context plainly indicates
otherwise, the present term shall include the future term, the singular shall include the
plural, the plural shall include the singular, the masculine shall include the feminine, and
the following words and phrases shall have the following meanings respectively ascribed to
them by this section: (1) AUTHORITY. A nonprofit public corporation organized pursuant to
the provisions of this chapter. (2) AUTHORIZING SUBDIVISION. Any county or municipality to
which application has been made for authority to incorporate an authority under this chapter.
(3) BOARD. The board of directors of an authority. (4) DIRECTOR. A member of the board of
directors of an authority. (5) COUNTY. Any county in this state that abuts on a navigable
river or through which a navigable river runs. (6) GOVERNING BODY. With respect to a county,
the county commission and, with respect to a municipality, the council,...
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11-94-9
Section 11-94-9 Powers of authority; location of projects. (a) An authority organized and existing
under this chapter shall have the following powers, together with all powers incident thereto
or necessary for the performance of those stated herein: (1) To adopt bylaws for the regulation
of its affairs and the conduct of its business; (2) To adopt an official seal and alter the
same at pleasure; (3) To maintain a principal office in the municipality which is an authorizing
subdivision and sub-offices at such other place or places within the county which is an authorizing
subdivision as its board may designate; (4) To sue and be sued in its own name, excepting
actions in tort against the authority; (5) To acquire, whether by purchase, construction,
exchange, gift, lease, or otherwise and to improve, equip, and furnish and to own and maintain
one or more projects or parts thereof, including all real and personal properties and interests
therein which its board may deem necessary in...
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24-1-31
Section 24-1-31 Issuance of bonds by authority; types of and security for bonds generally;
liability on bonds. An authority shall have power to issue bonds, from time to time, in its
discretion, for any of its corporate purposes. An authority shall also have power to issue
or exchange refunding bonds for the purpose of paying, retiring, extending or renewing bonds
previously issued by it. An authority may issue such types of bonds as it may determine, including,
without limiting the generality of the foregoing, bonds on which the principal and interest
are payable from income and revenues of the authority and from grants or contributions from
the federal government or some other source. Such income and revenues securing the bonds may
be: (1) Exclusively the income and revenues of the housing project financed in whole or in
part with the proceeds of such bonds; (2) Exclusively the income and revenues of certain designated
housing projects, whether or not they are financed in whole or in...
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11-50A-17
Section 11-50A-17 Contracts for use of projects; purchase of electric power; payment of charges;
indemnity; enforcement of performance. (a) Any municipality, if authorized by resolution or
ordinance of its governing body, may contract with the authority for the payment of any rates,
tolls, fees, and other charges prescribed in this section and Section 11-50A-18 by the authority
for the output, capacity, use or service by the municipality of any projects or other resources
of the authority or any of its facilities or undertakings. The obligations to pay the amounts
contracted to be paid by the municipality to the authority under the contract or contracts
entered into pursuant to the provisions of this section shall be treated as expenses of operating
the electric distribution system of the municipality for the payment of which the revenues
of the municipality derived from the operation of its electric distribution system (together
with any other revenues that may be lawfully pledged...
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11-54-87
Section 11-54-87 Powers of boards generally; location and operation of projects of boards generally;
meetings of board of directors. (a) The industrial development board shall have the following
powers together with all powers incidental thereto or necessary for the performance of those
stated in this subsection: (1) To have succession by its corporate name for the period specified
in the certificate of incorporation unless sooner dissolved as provided in this article; (2)
To sue and be sued and to prosecute and defend civil actions in any court having jurisdiction
of the subject matter and of the parties; (3) To have and to use a corporate seal and to alter
the same at pleasure; (4) To acquire, whether by purchase, construction, exchange, gift, lease,
or otherwise and to improve, maintain, equip, and furnish one or more projects, including
all real and personal properties which the board of directors of the board may deem necessary
in connection therewith, regardless of whether or not...
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41-16A-2
Section 41-16A-2 Legislative intent. It is hereby found and declared by the Legislature of
Alabama that it is in the public interest that the state, political subdivisions, agencies,
boards, commissions, and departments thereof, the various counties of the state, the various
municipal corporations within the state, county boards of education, city boards of education,
instrumentalities of any of the foregoing, and public corporations arising under or organized
pursuant to any statute of the state shall have the flexibility to finance the acquisition,
installation, equipping, and/or improvement of any eligible property that such governmental
entity otherwise is legally authorized to acquire through the use of lease, lease-purchase,
and/or installment-purchase financing. It is the intention of the Legislature by passage of
this chapter that wherever, either by express grant or by implication, a governmental entity
has the power and authority to acquire any eligible property by purchase,...
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