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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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2-6-70
Section 2-6-70 Definitions. As used in this article, the following words shall have the following
meanings unless the context clearly requires otherwise: (1) AGRICULTURAL CENTER BOARD. The
board of that name established pursuant to Article 2 of this chapter. (2) AGRICULTURAL FUND.
The fund of that name created and administered pursuant to Article 1, Chapter 9, Title 2.
(3) BOARD OF AGRICULTURE AND INDUSTRIES. The Alabama Board of Agriculture and Industries created
pursuant to Section 2-3-1. (4) BUILDING COMMISSION. The Building Commission created under
Article 6, Chapter 9, Title 41, and any successor agency thereto. (5) COLISEUM. The existing
Garrett Coliseum and the grounds and other buildings and structures associated therewith,
all owned by the Agricultural Center Board and located in the City of Montgomery, Alabama.
(6) CORPORATION. The public corporation authorized to be created by this article. (7) ELIGIBLE
INVESTMENTS. (i) Any time deposit with, or any certificate of deposit...
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19-3-120
Section 19-3-120 Classes of authorized investments; repeal of conflicting statutes. (a) Unless
otherwise authorized or directed by the court having jurisdiction thereof, or by the will,
trust agreement or other document which is the source of authority, a trustee, executor, administrator,
guardian or one acting in any other fiduciary capacity, other than as a trustee governed by
the Alabama Uniform Trust Code, with the exercise of reasonable business prudence, in addition
to any other investments now permitted by law, may invest funds in securities or investments
which, at the time of the making or purchase thereof, are included in one or more of the following
classes: (1) Bonds or other interest-bearing obligations of the United States of America,
or payment of which the United States of America has guaranteed as to both principal and interest.
(2) Bonds issued by the Federal Land Bank, under the act of Congress of the United States
of America, designated as "the Federal Farm Loan...
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11-97-2
Section 11-97-2 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 11-97-3 hereof. (2) AUTHORIZING
RESOLUTION. A resolution of ordinance adopted by the governing body of any county or municipality
in accordance with the provisions of Section 11-97-3 hereof, that authorizes the incorporation
of a corporation. (3) BOARD. The board of directors of a corporation. (4) BONDS. Bonds, notes,
or other obligations representing an obligation to pay money. (5) CORPORATION. Any public
corporation organized pursuant to the provisions of this chapter. (6) COSTS. As applied to
a facility or any portion thereof, shall include all or any part of the...
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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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37-11A-1
Section 37-11A-1 Execution and text of compact. The Governor, on behalf of this state, shall
execute a compact, in substantially the following form, with the State of Mississippi, and
the Legislature approves and ratifies the compact in the form substantially as follows: Northeast
Mississippi - Northwest Alabama Railroad Authority Compact. The contracting states solemnly
agree: Article I. The purpose of this compact is to promote and develop trade, commerce, industry,
and employment opportunities for the public good and welfare in northeast Mississippi and
northwest Alabama through the establishment of a joint interstate authority to acquire certain
railroad properties and facilities which the operator thereof has notified the Interstate
Commerce Commission of an intention to abandon and which are located in any of Franklin, Marion,
or Winston Counties, Alabama or in Alcorn or Tishomingo Counties, Mississippi. Article II.
This compact shall become effective immediately as to the State...
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22-3A-2
Section 22-3A-2 Definitions. The following words and phrases used in this chapter, unless the
context clearly indicates otherwise, shall have the following respective meanings: (1) AUTHORITY.
The public corporation organized pursuant to the provisions of this chapter. (2) BONDS. The
bonds issued under the provisions of this chapter. (3) COUNTY BOARD(S) OF HEALTH. County board(s)
of health provided for in Chapter 3 of Subtitle 1 of Title 22. (4) DIRECTORS. The board of
directors of the authority. (5) GOVERNMENT SECURITIES. Any bonds or other obligations which
as to principal and interest constitute direct obligations of, or are unconditionally guaranteed
by, the United States of America, including obligations of any federal agency to the extent
such obligations are unconditionally guaranteed by the United States of America and any certificates
or any other evidences of an ownership interest in such obligation of, or unconditionally
guaranteed by, the United States of America or in...
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11-62-1
Section 11-62-1 Definitions. (a) The following words and phrases used in this chapter, and
others evidently intended as the equivalent thereof, shall, in the absence of clear implication
herein otherwise, be given the following respective interpretations herein: (1) AUTHORITY.
Any public corporation organized pursuant to this chapter. (2) AUTHORIZED PURPOSE OBLIGATION.
The term includes either of the following: a. Any lease, note, installment sale contract,
or any other obligation of a user, whether general or special, which was entered into, made,
assumed, or otherwise incurred by the user, in whole or in part, for the purpose of financing
the acquisition or ownership of one or more facilities, for the purpose of obtaining funds
with which to operate one or more facilities or for any combination of those purposes. b.
Any obligation of any kind which was entered into, made, assumed, or otherwise incurred by
the United States of America or any department, agency, or instrumentality...
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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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11-47-218
Section 11-47-218 Powers of authorities generally; location of projects; exercise of power
of eminent domain. (a) In addition to all other powers at any time conferred on it by law,
and subject to any express provisions of its certificate of incorporation to the contrary,
an authority shall have the following lawful powers, together with all powers incidental thereto
or necessary to discharge thereof in the corporate form: (1) To have succession by its corporate
name in perpetuity or for the duration specified in its certificate of incorporation. (2)
To sue and be sued in its own name in civil actions and to defend actions 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, regulations, and rules, not inconsistent with this article or its
certificate of incorporation, for the regulation and conduct of the affairs and business of
the authority. (5) To acquire, receive, take, and hold, whether by purchase,...
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