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11-92A-23
Section 11-92A-23 Special reserve funds and applications for appropriations. (a) In addition
to all other powers at any time conferred upon an authority by law, an authority may, in connection
with the issuance of any bonds hereunder, create and establish one or more special debt service
reserve funds (a "debt service reserve fund"), and may pay or cause to be paid into
each debt service reserve fund (i) proceeds from bonds issued pursuant hereto to the extent
provided by the authority authorizing the issuance thereof; (ii) any moneys appropriated and
made available by the Legislature for the purpose of such fund; and (iii) any other moneys
that may be made available to the authority from any other source for the purpose of such
fund. All moneys held in a debt service reserve fund shall be used solely for the payment
of the principal of, premium, if any, and interest on bonds secured, in whole or in part,
by that fund when and as the same become due and payable as provided in the...
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16-65-3
Section 16-65-3 Definitions. The following terms shall have the following meanings, respectively:
(1) AUTHORITY. The Alabama Higher Education Equipment Loan Authority created by this chapter
and any successor or successors thereto. Any change in name or composition of the authority
shall in no way affect the vested rights of any person under the provisions of this chapter.
(2) BOARD OF DIRECTORS. The board of directors of the authority. (3) BONDS. The bonds of the
authority issued under the provisions of this chapter, including revenue refunding bonds.
(4) EDUCATIONAL INSTITUTION. Every public college, public university, public graduate school,
public professional school, public junior college, community college, public business college,
and any other public institution of higher learning that teaches a trade or a profession,
heretofore or hereafter established or acquired under statutory authorization of the Legislature
of Alabama and existing as a public institution of learning...
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41-10-268
Section 41-10-268 Authorization, issuance and sale of bonds. The authority is hereby authorized
from time to time to sell and issue its interest-bearing or noninterest-bearing bonds, in
one or more series, not to exceed an aggregate principal amount of $40,000,000.00, excluding
refunding bonds described in Section 41-10-277, for the purpose of providing funds for the
acquisition, construction, installation and equipping of judicial facilities, and for payment
of obligations incurred for any of said purposes. Bonds of the authority may be in such form
and denominations, may be of such tenor, may be payable in such installments and at such time
or times not exceeding 30 years from their date, may be payable at such place or places, may
be redeemable at such times and under such conditions, may bear interest at such rate or rates
payable and evidenced in such manner or may be structured to bear no interest or to reflect
compound interest and may be secured in such manner, all as shall not...
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23-1-301
Section 23-1-301 Definitions. When used in this article, the following words and phrases shall
have the following respective meanings unless the context clearly indicates otherwise: (1)
AUTHORITY. The Alabama Federal Aid Highway Finance Authority, a public corporation and instrumentality
of the state authorized to be organized under the provisions of this article. (2) BOARD OF
DIRECTORS. The board of directors of the authority. (3) BONDS. The bonds, including refunding
bonds issued to refund outstanding obligations, that in this article are authorized to be
sold and issued by the authority. (4) CORPORATION. The authority. (5) HIGHWAY GASOLINE TAX.
The excise tax levied under subdivision (1) of subsection (a) of Section 40-17-325, with the
exception of those portions of the tax levied on aviation fuel and marine gasoline. (6) LEGISLATURE.
The Legislature of Alabama. (7) NET GASOLINE TAX PROCEEDS. The entire proceeds from the highway
gasoline tax less the cost of collection and less any...
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9-9-31
Section 9-9-31 Tax levy to defray expenses of proposed works and improvements generally; water
management tax record; additional taxes. (a) After the list of lands and other property with
the assessed benefits and the decree and judgment of the court have been filed as provided
in Section 9-9-29, the board of water management commissioners shall without unnecessary delay
levy a tax of such portion of said benefit on all lands and other property in the district
to which benefits have been assessed as may be found necessary by the board of water management
commissioners to defray the costs and expenses of the proposed works and improvements as incorporated
in the plan of water management, plus 10 percent of said total amount for emergencies. The
said tax shall be apportioned to and levied on each tract of land or other property in said
district in proportion to the benefits assessed and not in excess of 90 percent thereof; and,
in case bonds are issued as provided in this article, then...
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11-89A-2
Section 11-89A-2 Definitions. The following words and phrases used in this chapter, and others
evidently intended as the equivalent thereof, shall, in the absence of a clear implication
herein otherwise, be given the following respective interpretations herein: (1) APPLICANT.
A natural person who files a written application with the governing body of any county or
municipality in accordance with the provisions of Section 11-89A-3. (2) AUTHORITY. Any public
corporation organized pursuant to the provisions of this chapter. (3) AUTHORIZING RESOLUTION.
A resolution or ordinance adopted by the governing body of any county or municipality in accordance
with the provisions of Section 11-89A-3, that authorizes the incorporation of an authority.
(4) BOARD. The board of directors of an authority. (5) BONDS. Bonds, notes, or other obligations
representing an obligation to pay money. (6) COSTS. As applied to a facility or any portion
thereof, such term shall include all or any part of the cost of...
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33-13-9
Section 33-13-9 Bonds - Generally. There are hereby authorized to be issued bonds of the state
in aggregate principal amount not exceeding $45,000,000.00 for the purpose of paying costs
of the development, construction, improvements, expansion and modernization (or any of them)
of the State Docks Department at the Port of Mobile. The bonds hereby authorized shall be
general obligations of the state, and the full faith, credit and taxing powers of the state
are hereby irrevocably pledged for the prompt and faithful payment of the principal thereof
and the interest thereon. The bonds may be sold from time to time as the board of directors
may deem advantageous; provided, that no bonds (other than refunding bonds) may be sold or
issued unless the Governor shall have first determined that the issuance of the bonds proposed
to be issued will be necessary to enable the authority to promote, develop, construct, improve,
expand and modernize the state docks facilities. Except as hereinafter...
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11-50A-20
Section 11-50A-20 Trust agreement. In the discretion of the authority, any issue of bonds may
be secured by a trust agreement or indenture made by the authority with a corporate trustee,
which may be any trust company or bank within or without the state having the powers of a
trust company. The trust agreement or indenture may pledge or assign any revenues to be received
by the authority and any proceeds which may be derived from the disposition of any real or
personal property of the authority or proceeds of insurance carried thereon. The resolution
providing for the issuance of bonds and the trust agreement or indenture may contain any provisions
the authority deems necessary or appropriate for protecting and enforcing the rights and remedies
of the bondholders, including the right of appointment of a receiver upon default in the payment
of any principal or interest obligation and the right of any receiver or trustee to enforce
collection of any rates, fees, tolls, charges, or...
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23-1-175.1
Section 23-1-175.1 Infrastructure improvements. (a) In order to accomplish infrastructure improvements
contemplated for the benefit of the Alabama State Docks, the Alabama Highway Finance Corporation
shall have the following powers, in addition to all powers set forth in this article. (1)
To borrow money and issue its bonds in evidence thereof, in a principal amount not to exceed
one hundred fifty million dollars ($150,000,000), for the purpose of financing the widening
and deepening of the Mobile Ship Channel and improvements related thereto. No bond issued
by the corporation for this purpose shall have a specified maturity date later than twenty
years after its issuance date. (2) To issue from time to time one or more series of refunding
bonds for the purpose of refunding any bonds issued pursuant to subdivision (1) or bonds previously
issued to refund such bonds, in any case, however, having a final maturity that is not later
than the final maturity of the bonds being refunded. (3)...
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40-18-35
Section 40-18-35 Deductions allowed to corporations. (a) The following items shall be deducted
from federal taxable income for purposes of computing taxable income under this chapter: (1)
Refunds of state and local income taxes. (2) Federal income tax paid or accrued during the
taxpayer's taxable year. The portion of federal income tax deductible by a corporation earning
income from sources both inside and outside of Alabama shall be determined by the ratio that
the corporation's taxable income, computed without the deduction for federal income tax, apportioned
and allocated to Alabama bears to the corporation's taxable income, computed without the deduction
for federal income tax, apportioned and allocated everywhere. (3) Interest income earned on
obligations of the United States. (4)a. Interest income earned on obligations of the State
of Alabama or its subdivisions or instrumentalities thereof to the extent included in gross
income for the purposes of federal income taxation. b....
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