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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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23-7-2
Section 23-7-2 Definitions. For the purposes of this chapter, the following words shall have
the following meanings: (1) BANK. The Alabama Transportation Infrastructure Bank. (2) BOARD.
The board of directors of the bank. (3) BONDS. Includes bonds, notes, or other evidence of
indebtedness except as otherwise provided in this chapter. (4) DEPARTMENT or DEPARTMENT OF
TRANSPORTATION. The Alabama Department of Transportation. (5) ELIGIBLE COST. As applied to
a qualified project to be financed from the federal highway account, the costs that are permitted
under applicable federal laws, requirements, procedures, and guidelines in regard to establishing,
operating, and providing assistance from the bank. As applied to a qualified project to be
financed from the state highway account, these costs include the costs of preliminary engineering,
traffic, and revenue studies; environmental studies; right-of-way acquisition; legal and financial
services associated with the development of the...
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41-10-751
Section 41-10-751 Definitions. When used in this article, the following terms shall have the
following meanings, unless the context clearly indicates otherwise: (1) ALABAMA TRUST FUND.
The trust fund of the state created under Amendment 450 to the Constitution of Alabama of
1901, and appearing as ยง219.02 of the Official Recompilation of the Constitution of Alabama
1901, as amended. (2) APPROPRIATED FUNDS. The BP settlement revenues deposited in the special
fund to the extent such revenues are appropriated to the authority pursuant to Section 41-10-759.
(3) AUTHORITY. The Alabama Economic Settlement Authority authorized to be established pursuant
to Section 41-10-752. (4) BONDS. Those bonds, including refunding bonds, issued pursuant to
this article. (5) BP SETTLEMENT REVENUES. Revenues received by the state in settlement of
economic damages claims of the state against BP Exploration and Production, Inc. and any of
its corporate affiliates arising out of the Deepwater Horizon oil spill...
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41-14-35
Section 41-14-35 Security for deposits or accounts. (a) All public deposits, as defined in
Chapter 14A, of the state shall be secured to the extent and in the manner provided in Chapter
14A by any combination of the following securities and instruments, which may be issued and
held in either definitive or book-entry form: Direct obligations of the State of Alabama or
any other state of the United States; obligations of the United States government or that
are fully guaranteed as to payment of principal and interest by the United States; obligations
issued or guaranteed by any agency or instrumentality of the United States, including, without
limitation, the Government National Mortgage Association or any successor thereto, any Federal
Farm Credit Bank or any successor thereto, the Federal Housing Finance Board or any successor
thereto, the Federal Home Loan Bank System or any successor thereto, or any Federal Home Loan
Bank or any successor thereto; debt obligations, including, without...
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8-6-11
Section 8-6-11 Registration of securities - Exempt transactions. (a) Except as hereinafter
in this section expressly provided, Sections 8-6-3 through 8-6-9 shall not apply to any of
the following transactions: (1) Any isolated nonissuer transaction, whether effected through
a dealer or not; (2) Any nonissuer transaction in an outstanding security by a registered
dealer if: a. The issuer has a class of securities subject to registration under Section 12
of the Securities Exchange Act of 1934 and has been subject to the reporting requirements
of Sections 13 or 15(d) of the Securities Exchange Act of 1934 for not less than 180 days
before the transaction; or has filed and maintained with the commission for not less than
180 days before the transaction information, in such form as the commission, by rule, specifies,
substantially comparable to the information which the issuer would be required to file under
Section 12(b) or Section 12(g) of the Securities Exchange Act of 1934, or the...
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24-1A-2
Section 24-1A-2 Definitions. The following words and phrases used in this chapter, and others
evidently intended as the equivalent thereof, shall, in the absence of clear implication otherwise,
have the following respective meanings: (1) AUTHORITY. The public corporation and instrumentality
of the state organized pursuant to the provisions of this chapter. (2) AUTHORIZED INVESTMENTS.
Bonds or other obligations of, or guaranteed by, the United States of America or the state;
interest bearing bank and savings and loan association deposits; obligations of any agency
of the United States of America; any obligations in which a state chartered savings and loan
association may invest its funds; any agreement to repurchase any of the foregoing; or any
combination thereof. (3) BOARD OF DIRECTORS. The board of directors of the authority. (4)
BONDS. Bonds or other securities representing an obligation to pay money. (5) ELIGIBLE HOUSING
UNIT. Real and personal properties located in the state...
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11-88-132
Section 11-88-132 Acquisition, etc., of water system of water and fire protection authority
by city board of water and sewer commissioners - Conveyance of funds in trust for authority's
fire protection system; governing board of authority as trustees; trustees' powers and liabilities.
(a) In the event that the board of water and sewer commissioners of any city ("commissioners")
should acquire, operate, or control by virtue of assignment, conveyance, court order, operation
of law, or otherwise the water system of a water and fire protection authority ("authority"),
then the commissioners shall thereupon convey to the authority the principal sum of $2,000,000
in irrevocable trust for the support and maintenance of the authority's fire protection system.
(b) The trustees of the trust so established shall be the members of the governing board of
the authority, as it may be comprised from time to time, who shall have all powers necessary
to effect the support and maintenance of the...
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41-10-626
Section 41-10-626 Bonds of the authority. (a) General. The authority is authorized from time
to time to sell and issue its bonds in limited amounts and for the purpose of promoting economic
development and industrial recruitment as specified by the Legislature from time to time by
separate act, provided that refunding bonds may be issued by the authority pursuant to Section
41-10-627 without first obtaining separate authorization from the Legislature. (b) Sources
of payment. Bonds issued by the authority shall be solely and exclusively an obligation of
the authority and shall not create an obligation or debt of the state. Such bonds shall not
be general obligations of the authority but shall be payable solely from one or more of the
following sources: (1) Appropriated funds. (2) The income or proceeds realized by the authority
under any mortgage or security granted to the authority. (3) Amounts derived from any letter
of credit, insurance policy, or other form of credit enhancement...
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2-3A-7
Section 2-3A-7 Powers of authority; open meetings. (a) The authority shall have the following
powers, together with all powers incidental thereto or necessary to the discharge thereof
in corporate form: (1) To have succession by its corporate name for the duration of time (which
may be perpetuity, subject to the provisions of Section 2-3A-14) specified in its certificate
of incorporation; (2) To sue and be sued in its own name in civil suits and actions, and to
defend suits against it; (3) To adopt and make use of a corporate seal and to alter the same
at pleasure; (4) To adopt, alter and repeal bylaws, not inconsistent with the provisions of
this article, for the regulation and conduct of its affairs and business; (5) To loan its
funds to one or more persons to be used by such persons to pay the costs of agricultural operations,
such loans to be on such terms and conditions, and for such period of time, and secured or
evidenced by such mortgages, deeds of trust, notes, debentures,...
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41-10-547
Section 41-10-547 Bonds of the authority. (a) The authority is authorized from time to time
to sell and issue its bonds for the purpose of financing project costs pertaining to one or
more projects or for the purpose of providing funds to pay training facility management fees,
or any combination of the foregoing including, without limitation, in the case of authority
obligations issued for the purpose of providing funds to pay training facility management
fees, costs, expenses, and other items of the type described in paragraphs g., h., i., and
j. of the definition of project costs in Section 41-10-541 or to enter into guaranty agreements
wherein the authority guarantees payment, in whole or in part, of debt service referable to
obligations issued by development agencies for the purpose of financing project costs pertaining
to one or more projects; provided, however, that the principal amount of authority obligations
shall not exceed three hundred million dollars ($300,000,000). For...
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