45-27A-31.09
Section 45-27A-31.09 Bonds of authority. (a) Source of payment. All bonds issued by the authority
shall be payable solely out of the revenues and receipts derived from the leasing or sale
by the board of its projects or of any thereof as may be designated in the proceedings of
the board under which the bonds shall be authorized to be issued. (b) Pledge of revenues,
receipts, and other security. (1) The principle of and interest on any bonds issued by the
authority shall be secured by a pledge of the revenues and receipts out of which the same
may be payable and may be secured by a mortgage and deed of trust or trust indenture conveying
as security for such bonds all or any part of the property of the authority from which the
revenues or receipts so pledged may be derived. (2) The resolution under which the bonds are
authorized to be issued and any such mortgage and deed of trust or trust indenture may contain
any agreements and provisions respecting the operation, maintenance, and...
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45-35A-52.09
Section 45-35A-52.09 Bonds of authority. (a) Source of payment. All bonds issued by the authority
shall be payable solely out of the revenues and receipts derived from the leasing or sale
by the board of its projects or of any thereof as may be designated in the proceedings of
the board under which the bonds shall be authorized to be issued. (b) Pledge of revenues,
receipts and other security. (1) The principal of and interest on any bonds issued by the
authority shall be secured by a pledge of the revenues and receipts out of which the same
may be payable and may be secured by a mortgage and deed of trust or trust indenture conveying
as security for such bonds all or any part of the property of the authority from which the
revenues or receipts so pledged may be derived. (2) The resolution under which the bonds are
authorized to be issued and any such mortgage and deed of trust or trust indenture may contain
any agreements and provisions respecting the operation, maintenance, and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-35A-52.09.htm - 5K - Match Info - Similar pages

45-41A-40.09
Section 45-41A-40.09 Bonds of the authority. (a) Source of payment. All bonds issued by the
authority shall be payable solely out of the revenues and receipts derived from the leasing
or sale by the board of its projects or of any thereof as may be designated in the proceedings
of the board under which the bonds shall be authorized to be issued. (b) Pledge of revenues,
receipts, and other security. (1) The principal of and interest on any bonds issued by the
authority shall be secured by a pledge of the revenues and receipts out of which the same
may be payable and may be secured by a mortgage and deed of trust or trust indenture conveying
as security for such bonds all or any part of the property of the authority from which the
revenues or receipts so pledged may be derived. (2) The resolution under which the bonds are
authorized to be issued and any such mortgage and deed of trust or trust indenture may contain
any agreements and provisions respecting the operation, maintenance, and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-41A-40.09.htm - 5K - Match Info - Similar pages

45-8A-111.09
Section 45-8A-111.09 Bonds of authority. (a) Source of payment. All bonds issued by the authority
shall be payable solely out of the revenues and receipts derived from the leasing or sale
by the board of its projects or of any thereof as may be designated in the proceedings of
the board under which the bonds shall be authorized to be issued. (b) Pledge of revenues,
receipts, and other security. The principal of and interest on any bonds issued by the authority
shall be secured by a pledge of the revenues and receipts out of which the same may be payable
and may be secured by a mortgage and deed of trust or trust indenture conveying as security
for such bonds all or any part of the property of the authority from which the revenues or
receipts so pledged may be derived. The resolution under which the bonds are authorized to
be issued and any such mortgage and deed of trust or trust indenture may contain any agreements
and provisions respecting the operation, maintenance, and insurance of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-8A-111.09.htm - 5K - Match Info - Similar pages

45-8A-20.09
Section 45-8A-20.09 Bonds of authority. (a) Source of payment. All bonds issued by the authority
shall be payable solely out of the revenues and receipts derived from the leasing or sale
by the board of its projects or of any thereof as may be designated in the proceedings of
the board under which the bonds shall be authorized to be issued. (b) Pledge of revenues,
receipts, and other security. The principal of and interest on any bonds issued by the authority
shall be secured by a pledge of the revenues and receipts out of which the same may be payable
and may be secured by a mortgage and deed of trust or trust indenture conveying as security
for such bonds all or any part of the property of the authority from which the revenues or
receipts so pledged may be derived. The resolution under which the bonds are authorized to
be issued and any such mortgage and deed of trust or trust indenture may contain any agreements
and provisions respecting the operation, maintenance, and insurance of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-8A-20.09.htm - 5K - Match Info - Similar pages

11-20-5
Section 11-20-5 Bonds - Form, terms, denominations, etc.; execution, sale, delivery, redemption,
etc.; applicability of usury, etc., laws. All bonds issued by a county under authority of
this article shall be limited obligations of the county, the principal of and interest on
which shall be payable solely out of the revenues derived from the leasing of the project
to finance which the bonds are issued. Bonds and interest coupons issued under authority of
this article shall never constitute an indebtedness of the county within the meaning of any
state constitutional provision or statutory limitation and shall never constitute nor give
rise to a pecuniary liability of the county or a charge against its general credit or taxing
powers, and such fact shall be plainly stated on the face of each such bond. Such bonds may
be executed and delivered at any time and from time to time, may be in such form and denominations,
may be of such tenor, may be in registered or bearer form either as to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-20-5.htm - 2K - Match Info - Similar pages

11-54-143
Section 11-54-143 Bonds issued to finance projects. All bonds issued by a municipality under
authority of this article shall be limited obligations of the municipality the principal of
and interest on which shall be payable solely out of the revenues derived from the leasing
of the project to finance which the bonds are issued. Bonds and interest coupons issued under
authority of this article shall never constitute an indebtedness of the municipality within
the meaning of any state constitutional provision or statutory limitation, and shall never
constitute nor give rise to a pecuniary liability of the municipality or a charge against
its general credit or taxing powers, and such fact shall be plainly stated in the face of
each such bond. Such bonds may be executed and delivered at any time and from time to time,
may be in such form and denominations, may be of such tenor, may be in registered or bearer
form either as to principal or interest or both, may be payable in such...
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11-54-24
Section 11-54-24 Bonds - Form, terms, denominations, etc.; execution, sale, delivery, redemption,
etc. All bonds issued by a municipality under authority of this article shall be limited obligations
of the municipality, the principal of and interest on which shall be payable solely out of
the revenues derived from the leasing of the project to finance which the bonds are issued.
Bonds and interest coupons issued under authority of this article shall never constitute an
indebtedness of the municipality within the meaning of any state constitutional provision
or statutory limitation and shall never constitute nor give rise to a pecuniary liability
of the municipality or a charge against its general credit or taxing powers, and such fact
shall be plainly stated in the face of each such bond. Such bonds may be executed and delivered
at any time and from time to time, may be in such form and denominations, may be of such tenor,
may be in registered or bearer form either as to principal or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54-24.htm - 2K - Match Info - Similar pages

11-55-3
Section 11-55-3 Bonds - Form, terms, denominations, etc.; execution, sale, delivery, redemption,
etc. All bonds issued by a municipality under authority of this chapter shall be limited obligations
of the municipality, the principal of and interest on which shall be payable solely out of
the revenues derived from the leasing of the project to finance which the bonds are issued.
Bonds and interest coupons issued under authority of this chapter shall never constitute an
indebtedness of the municipality within the meaning of any state constitutional provisions
or statutory limitation and shall never constitute nor give rise to a pecuniary liability
of the municipality or a charge against its general credit or taxing powers, and such fact
shall be plainly stated in the face of each such bond. Such bonds may be executed and delivered
at any time and from time to time, may be in such form and denominations, may be of such tenor,
may be in registered or bearer form either as to principal or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-55-3.htm - 2K - 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...
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