11-59-13
Section 11-59-13 Powers of corporations as to conveyances, etc., of title to facilities. Nothing contained in this chapter shall be construed to authorize the corporation to lease, sell, or transfer any of its facilities so as to vest title thereto or the use thereof in private ownership or control; provided, that any of its facilities may be made subject to a mortgage or deed of trust as security for its bonds issued pursuant to the provisions of this chapter; provided further, that any portions of such facilities which may become worn out or obsolete or shall not be needed for use in the operations of the corporation may be sold or otherwise disposed of as the board of directors of the corporation may deem advisable. (Acts 1947, No. 231, p. 94, ยง17.)...
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41-10-20
Section 41-10-20 Definitions. When used in this article, the following terms shall have the following meanings, respectively, unless the context clearly indicates otherwise: (1) AUTHORITY. The public corporation organized pursuant to the provisions of this article. (2) BOARD OF DIRECTORS. The board of directors of the authority. (3) BONDS. The bonds issued under the provisions of this article. (4) GRANTEE. A county, municipality or local industrial development board organized as a public corporation in this state, or an airport authority organized as a public corporation in this state pursuant to Chapter 3 of Title 4, or whether created by general, special or local laws, or general acts of local application, if such authority governs an airport operated by a county and at least one municipality therein jointly, to which a grant of money is made as provided in Section 41-10-26. (5) INDUSTRIAL SITES. Land owned by a grantee or potential grantee on which industrial facilities have been or...
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11-59-8
Section 11-59-8 Powers of corporations generally. 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 condemnation, purchase, exchange, gift, lease, devise or otherwise, and to construct, enlarge, improve, maintain, equip, and furnish one or more facilities, including all real and personal properties which the board of directors of the corporation may deem necessary or convenient in connection therewith and regardless of whether or not any such facilities shall then be in existence and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-59-8.htm - 3K - Match Info - Similar pages
16-65-6
Section 16-65-6 Bonds generally. (a) Issuance of bonds. The authority is authorized and empowered to issue its bonds from time to time for the purpose of making equipment loans to finance equipment costs incurred or to be incurred by educational institutions. Such bonds may be in such aggregate principal amount as the board of directors shall determine to be necessary to pay the equipment costs included in such financing. The authority may pay from the proceeds of the sale of its bonds all expenses, including publication and printing charges, attorneys' fees, financial advisory fees, and other expenses which the board of directors may deem necessary or advantageous in connection with the authorization, advertisement, sale, execution, and issuance of its bonds or the making of equipment loans from the proceeds thereof. (b) Source of payment. All bonds issued by the authority shall be limited obligations of the authority payable solely from any combination of the following: (1) The...
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22-23B-2
Section 22-23B-2 Definitions. The following words and phrases, whenever used in this chapter, shall have the following respective meanings unless the context clearly indicates otherwise: AUTHORITY. The corporation organized pursuant to the provisions of this chapter as a public corporation, agency and instrumentality of the state and known as the "Alabama Drinking Water Finance Authority." AUTHORIZING RESOLUTION. A resolution, order or other proceedings adopted by the board of directors of the authority authorizing the issuance of bonds, agreements and related matters. BOARD OF DIRECTORS. The board of directors of the authority. BOND PROCEEDS. The net proceeds of sale of bonds or notes, and the income derived from the investment of such proceeds. BONDS. The bonds, notes or obligations or other evidences of indebtedness issued by the authority under the provisions of this chapter. DEPARTMENT. The Alabama Department of Environmental Management or any successor. FEDERAL ACT. The Act of...
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22-21-130
Section 22-21-130 Definitions. For the purposes of this article, unless otherwise indicated, the following terms shall have the meanings respectively ascribed to them by this section: (1) AUTHORITY. A corporation organized pursuant to the provisions of this article. (2) BOARD. The board of directors of the authority. (3) BOND. Any bond issued under the provisions of this article, including refunding bonds. (4) COUNTY. That county in which the certificate of incorporation of the authority shall be filed for record. (5) COUPON. Any interest coupon evidencing an installment of interest payable with respect to a bond. (6) FISCAL YEAR. A fiscal year of the municipality. (7) GOVERNING BODY. The council, board of commissioners or other like body in which the legislative functions of the municipality are vested by law. (8) INDENTURE. A mortgage, an indenture of mortgage, deed of trust or trust indenture executed by the authority as security for any bonds. (9) LEASE AGREEMENT. Any agreement of...
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33-15-9
Section 33-15-9 Bonds and other obligations - Contracts to secure bonds and other obligations. As security for payment of the principal of and interest on bonds issued or obligations assumed by it, the authority may enter into a contract or contracts binding itself for the proper application of the proceeds of bonds and other funds, for the continued operation and maintenance of any facilities owned by it, or any part or parts thereof, for the imposition and collection of reasonable rates for and the promulgation of reasonable regulations respecting any service furnished from such facilities, for the disposition and application of its gross revenues or any part thereof, and for any other act or series of acts not inconsistent with the provisions of this chapter for the protection of the bonds and other obligations being secured and the assurance that the revenues from such facilities will be sufficient to operate such facilities, maintain the same in good repair and in good operating...
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41-29-501
Section 41-29-501 Definitions. (a) For the purposes of this article, the following words and phrases shall have the following meanings: (1) AUTHORITY. The public corporation organized pursuant to the provisions of Sections 41-10-20 through 41-10-32. (2) AUTHORIZED PURPOSE. Any one or more of the purposes for which grants are herein authorized to be made as specified in Section 41-29-503(a). (3) BOARD OF DIRECTORS. The board of directors of the authority. (4) BOND. The bonds issued under the provisions of this article. (5) CAPITAL COSTS. All costs and expenses incurred by one or more investing companies in connection with the acquisition, construction, installation, and equipping of a qualifying project during the period commencing with the date on which such acquisition, construction, installation, and equipping commences and ending on the date on which the qualifying project is placed in service, including, without limitation of all of the following: a. The costs of acquiring,...
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45-29-90.14
Section 45-29-90.14 Contracts to secure bonds and assumed obligations. As security for payment of the principal of and interest on bonds issued or obligations assumed by it, the authority may enter into a contract or contracts binding itself for the proper application of the proceeds of bonds or other funds, for the continued operation and maintenance of any facilities owned by it, or any part or parts thereof, for the imposition and collection of reasonable rates for and the promulgation of reasonable regulations respecting any service furnished from such facilities, for the disposition and application of its gross revenues or any part thereof, and for any other act or series of acts not inconsistent with this article for the protection of the bonds and other obligations being secured and the assurance that the revenues from such facilities will be sufficient to operate such facilities, maintain the same in good repair and in good operating condition, pay the principal of and interest...
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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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