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11-81-186
Section 11-81-186 Payment by counties, municipalities, etc., for services furnished by system.
The governing body may provide in the ordinance authorizing the issuance of bonds under the
authority of this article that no free service shall be furnished by any such system or combined
system to the county, city or incorporated town or to any agency, instrumentality, person,
firm or corporation. The reasonable cost and value of any service rendered to any such borrower
by any such system or combined system shall, in that event, be charged against the borrower
and shall be paid for monthly as the service accrues from the current funds or from the proceeds
of taxes which such borrower, within constitutional limitations, is hereby authorized and
required to levy in an amount sufficient for that purpose, and such funds, when so paid, shall
be accounted for in the same manner as other revenues of such system or combined system. (Acts
1933, Ex. Sess., No. 102, p. 88; Code 1940, T. 37, §323.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-81-186.htm - 1K - Match Info - Similar pages
14-2-31
Section 14-2-31 Special funds. In the resolution or proceedings authorizing the issuance of
any bonds, any temporary loans or in any indenture of trust, the authority may provide for
the establishment of one or more special funds for the payment of the principal of, or interest
on, the bonds, certificates or notes, one or more reserve funds therefor and a fund, or funds,
for the payment of insurance premiums or other expenses with respect to the ownership and
leasing of the facilities or for the expense of selling and leasing the Kilby property. Any
such special funds shall be held as trust funds by the State Treasurer separate and apart
from all other moneys. The State Treasurer is authorized and directed to pay, solely from
the special fund, or funds, provided therefor, the principal of and interest on all bonds
issued under this chapter as such principal and interest respectively mature and come due
and the redemption price of any bonds called prior to maturity. He shall establish...
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11-50-346
Section 11-50-346 Execution of trust agreement as security for payment of revenue bonds authorized;
provisions in trust agreements or resolutions for issuance of bonds generally. In the discretion
of the board, any revenue bonds issued under the provisions of this article may be secured
by a trust agreement by and between the board and a corporate trustee, which may be any trust
company or bank having the powers of a trust company within or without the state. Such trust
agreement or resolution providing for the issuance of such bonds may pledge or assign the
revenues to be received, but shall not convey or mortgage any water system or sewer system
or any part thereof. Such trust agreement or resolution providing for the issuance of such
bonds may contain such provisions for protecting and enforcing the rights and remedies of
the bondholders as may be reasonable and proper and not in violation of law, including covenants
setting forth the duties of the board in relation to the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50-346.htm - 3K - Match Info - Similar pages
11-81-162
Section 11-81-162 Estimate of cost of acquisition, extension, repair, consolidation, etc. Whenever
the governing body of any borrower shall determine to acquire, improve, enlarge, extend or
repair a system or systems under the provisions of this article, it shall first cause an estimate
to be made of the cost thereof, and the fact that such estimate has been made and the amount
thereof shall appear in the authorizing proceedings providing for the issuance of the bonds
proposed to be issued to finance such acquisition, improvement, enlargement, extension or
repair. (Acts 1933, Ex. Sess., No. 102, p. 88; Acts 1936-37, Ex. Sess., No. 203, p. 236; Code
1940, T. 37, §310; Acts 1955, No. 494, p. 1127, §3.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-81-162.htm - 1023 bytes - Match Info - Similar pages
11-22-11
Section 11-22-11 Bond issues - Notice of authorization of issuance; contesting of validity.
Upon the adoption by the board of directors of any resolution providing for the issuance of
bonds, the corporation may, in its discretion, cause to be published once a week for two consecutive
weeks, in a newspaper published in the county, a notice in substantially the following form
(the blanks being properly filled in) at the end of which shall be printed the name and title
of either the chairman or secretary of the corporation: "_____, a public corporation
under the laws of the State of Alabama, on the ____ day of _____, authorized the issuance
of $_____ principal amount of revenue bonds of the said corporation for purposes authorized
in the act of the Legislature of Alabama under which the said corporation was organized. Any
action or proceeding questioning the validity of the said bonds, or the pledge and mortgage
or deed of trust to secure the same, or the proceedings authorizing the same,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-22-11.htm - 2K - Match Info - Similar pages
11-54A-13
Section 11-54A-13 Notice of bond resolution; 30 days to bring action to question bond validity.
Upon the adoption by the board of the authority of any resolution providing for the issuance
of bonds, the authority may cause to be published once a week for two consecutive weeks, in
a newspaper published or having general circulation in the city, a notice in substantially
the following form (the blanks being properly filled in) at the end of which shall be printed
the name and title of either the chairman or secretary of such authority. "The _____
Redevelopment Authority, a public corporation under the laws of the State of Alabama, on the
_____ day of _____ authorized the issuance of $_____ principal amount of bonds of the public
corporation for purposes authorized in the act of the Legislature of Alabama under which the
public corporation was organized. Any action or proceeding questioning the validity of the
bonds, or the pledge and the mortgage and deed of trust or trust indenture to...
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11-92C-12
Section 11-92C-12 Notice of bond resolution. (a) Upon the adoption by the board of an authority
of any resolution providing for the issuance of bonds, the authority may publish once a week
for two consecutive weeks, in a newspaper published and having general circulation in the
geographical area of the authorizing subdivision, a notice in substantially the following
form, the blanks properly filled in, at the end of which shall be printed the name and title
of either the chair or secretary of the authority. "The _____ Local Redevelopment Authority,
a public corporation under the laws of the State of Alabama, on the _____ day of _____ authorized
the issuance of $_____ principal amount of bonds of the public corporation for purposes authorized
by the state law under which the public corporation was organized. Any action or proceeding
questioning the validity of the bonds, or the pledge and the mortgage and deed of trust or
trust indenture to secure the same, or the proceedings...
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9-9-40
Section 9-9-40 Bonds - Remedies and proceedings upon default. (a) If any installment of principal
and interest evidenced by any bonds issued under the provisions of this article shall not
be paid at the time and in the manner when the same shall become due and payable, the same
shall bear interest at the rate of eight percent per annum until paid, and if such default
shall continue for a period of 60 days, the holder or holders of such bond or bonds upon which
default has been made may have a right of action against said water management district wherein
the court may issue a writ of mandamus against the officers of said district, including the
tax collector, directing the levying of a sufficient tax as provided in this article and the
collection of same in such sum as may be necessary to meet any unpaid installments of principal
and interest and costs of suit and such other remedies are hereby vested in the holder or
holders of such bond or bonds in default as may be authorized by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-9-40.htm - 9K - Match Info - Similar pages
11-54-182
Section 11-54-182 Notice of bond resolution; limitation on proceedings questioning or attacking
bonds. Upon the adoption by the board of any authority of any resolution providing for the
issuance of bonds, such authority may, in its discretion, cause to be published once a week
for two consecutive weeks, in a newspaper published or having a general circulation in the
authorizing municipality, a notice in substantially the following form (the blanks being properly
filled in) at the end of which shall be printed the name and title of either the chairman
or secretary of such authority: "___, a public corporation under the laws of the State
of Alabama, on the _____day of _____, authorized the issuance of $_____ principal amount of
bonds of the said public corporation for purposes authorized in the act of the Legislature
of Alabama under which the said public corporation was organized. Any action or proceeding
questioning the validity of the said bonds, or the pledge and the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54-182.htm - 2K - Match Info - Similar pages
41-10-102
Section 41-10-102 Remedies upon default on bonds, etc. (a) Remedies upon default on bonds or
indenture. If there shall be any default in the payment of the principal of or interest on
any of the bonds issued under this article, or in the performance of any provisions of the
indenture or proceedings authorizing the issuance of such bonds, then the holder of any of
the bonds and the interest coupons applicable thereto and the trustee under such indenture
or any one or more of them shall have and may exercise any one or more of the following remedies:
(1) They may by civil action, mandamus, injunction or other proceeding compel the performance
of all duties of the officers and directors of the corporation with respect to the use of
funds for the payment of the bonds and for the performance of the bonds and the agreements
of the corporation contained in the bonds, the indenture or in the proceedings under which
they were issued; (2) They may institute a civil action and shall be entitled...
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