22-21-183
Section 22-21-183 Disposition of proceeds from borrowing. (a) The principal proceeds derived from any borrowing made by the corporation under Section 22-21-182, other than borrowings made for refunding purposes, shall be used solely for: (1) The purpose or purposes for which such borrowing was authorized to be made, including architects' and engineers' fees; (2) Legal, fiscal and recording fees and expenses incurred in connection with such borrowing; (3) The interest to accrue on any securities issued in evidence of such borrowing during a period of not exceeding 36 months after the date of such borrowing; (4) The reimbursement to itself, or to its general fund or any one or more of its other funds, to the county in which the corporation is organized, to any municipality located, in whole or in part, in such county and to any public agency, authority or body in such county, of any funds advanced to or for the benefit of the corporation or any hospital owned by it and in anticipation of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-183.htm - 2K - Match Info - Similar pages
22-21-324
Section 22-21-324 Use of proceeds. (a) The principal proceeds derived from any borrowing made by an authority shall be used solely for the purpose or purposes for which such borrowing was authorized to be made. If any securities are issued for the purpose of financing costs of acquiring, constructing, improving, enlarging and equipping health care facilities, such costs shall be deemed to include the following: (1) The cost of any land forming a part of such health care facilities; (2) The cost of the labor, materials and supplies used in any such construction, improvement or enlargement, including architectural and engineering fees and the cost of preparing contract documents advertising for bids; (3) The purchase price of, and the cost of installing, equipment for such health care facilities; (4) The cost of landscaping the lands forming a part of such health care facilities and of constructing and installing roads, sidewalks, curbs, gutters, utilities and parking places in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-324.htm - 4K - Match Info - Similar pages
11-101A-15
Section 11-101A-15 Use of proceeds. (a) The principal proceeds derived from any borrowing made by an authority shall be used solely for the purpose or purposes for which the borrowing was authorized to be made. If any securities are issued for the purpose of financing costs of acquiring, constructing, improving, enlarging, and equipping a project, those costs shall be deemed to include the following: (1) The cost of any land forming a part of the project. (2) The cost of the labor, materials, and supplies used in any construction, improvement, or enlargement, including architectural and engineering fees and the cost of preparing contract documents advertising for bids. (3) The purchase price of, and the cost of installing, equipment for the project. (4) The cost of landscaping the lands forming a part of the project and of constructing and installing roads, sidewalks, curbs, gutters, utilities, and parking facilities in connection therewith. (5) Legal, accounting, publishing, printing,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-101A-15.htm - 4K - Match Info - Similar pages
11-88-7.1
Section 11-88-7.1 Additional powers. (a) Any authority organized or operating pursuant to Chapter 88 of Title 11 shall, in addition to all other powers now or hereafter granted by law, have the following powers and rights: (1) To borrow money for temporary use for any of its corporate purposes and, in evidence of such borrowing, to issue from time to time revenue bonds or notes maturing not later than 36 months from the date of issuance. Any such temporary borrowing may be made in anticipation of the sale and issuance of long-term revenue bonds, and in such event, the principal proceeds from the sale of such long-term revenue bonds shall, to the extent necessary, be used for payment of the principal of and the interest on the temporary revenue bonds or notes issued in anticipation of the sale and issuance of such long-term revenue bonds. Any such temporary borrowing may also be made with respect to a project simultaneously with or after the sale and issuance of long-term revenue bonds...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-88-7.1.htm - 5K - Match Info - Similar pages
40-17-359
Section 40-17-359 Distribution and use of proceeds. (a) For the purpose of this section, the following terms shall have the meanings ascribed below: (1) BASE ANNUAL COUNTY DISTRIBUTION. Five hundred fifty thousand dollars ($550,000). (2) COST OF COLLECTION. The amounts from the proceeds of the highway gasoline tax that may be appropriated by the Legislature to the department for its operating expenses. (3) COUNTY. Each county in the state. (4) FISCAL YEAR. The fiscal year of the state. (5) DEPARTMENT OF TRANSPORTATION. The Department of Transportation of the state. (6) HIGHWAY GASOLINE TAX. Both of the following: a. 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. b. The excise tax levied by Sections 40-17-140 to 40-17-155, inclusive, except that portion of the tax imposed on diesel fuel. (7) LOCAL SUBDIVISIONS' SHARES OF THE NET TAX PROCEEDS. The 55 percent...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-17-359.htm - 28K - Match Info - Similar pages
40-12-270
Section 40-12-270 Disbursement of net proceeds from license taxes and registration fees; Secondary Road Committee created. (a) The moneys collected each month by the judge of probate from motor vehicle license taxes and registration fees, after deducting therefrom the amounts referred to in subdivisions (1) and (2) of subsection (a) of Section 40-12-269, the moneys remaining after making the said deductions being referred to in this section as "the net proceeds," shall be disbursed by the judge of probate as follows: (1) That portion of the net proceeds that consists of additional amounts paid under the schedule of additional amounts set forth in subsection (b) of Section 40-12-248 shall be remitted by the judge of probate to the State Treasurer who shall distribute said amounts as follows: a. 64.75 percent of said amounts shall be distributed by the State Treasurer to the State of Alabama; b. 35.25 percent of said amounts shall be apportioned and distributed by the State Treasurer...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-12-270.htm - 12K - Match Info - Similar pages
45-39-92.52
Section 45-39-92.52 Disposition of funds. Expenditures from the special fund provided for in Section 45-39-92.51 shall be made exclusively for the purposes of paying principal of and interest on securities evidencing obligations incurred for payment for the Shoals Economic Development Project. All of the proceeds of the taxes herein authorized shall be specifically pledged by the Lauderdale County Commission to the payment of principal of and interest on the securities, whether such securities are issued by the county or by a local public corporation. The pledge of the taxes herein authorized for the payment of the principal of and interest on securities issued by Lauderdale County or a local public corporation, together with any applicable covenants of the county and the local public corporation relating to such pledge, shall have the force of contract between the county, the local public corporation, and the holders of the securities. The proceeds of the taxes may be deposited by the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-39-92.52.htm - 1K - Match Info - Similar pages
45-17-90.52
Section 45-17-90.52 Disposition of funds. Expenditures from the special fund provided for in Section 45-17-90.51 shall be made exclusively for the purposes of paying principal of, premium, if any, and interest on securities evidencing obligations incurred for payment for the Shoals Economic Development Project. All of the proceeds of the taxes herein authorized shall be specifically pledged by the Colbert County Commission to the payment of principal of, premium, if any, and interest on the securities, whether such securities are issued by the county or by a local public corporation. The pledge of the taxes herein authorized for the payment of the principal of, premium, if any, and interest on securities issued by Colbert County or a local public corporation, together with any applicable covenants of the county and the local public corporation relating to such pledge, shall have the force of contract between the county, the local public corporation, and the holders of the securities....
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22-21-106
Section 22-21-106 Issuance of securities - In anticipation of tax; funds from which payable; nature of obligation. Any hospital corporation may anticipate the proceeds from any special county tax required to be paid to it in accordance with the provisions of this division, by issuing securities for any one or more of the purposes for which the tax shall have been voted, and may pledge for the payment of the principal thereof and interest thereon the annual proceeds from the said tax so paid to it; provided, that if any constitutional provisions applicable to the pledge of the said tax shall restrict the portion of such tax proceeds that may be so pledged, then the hospital corporation shall have the power to pledge only that portion of the said proceeds that may be so pledged without violation of the said constitutional provisions. All securities issued under this division shall be payable from the proceeds of the special tax in respect of which they were issued and from such other...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-106.htm - 2K - Match Info - Similar pages
23-1-177
Section 23-1-177 Bonds - Generally. (a) The bonds of the corporation shall be signed by its president and attested by its secretary, and the seal of the corporation shall be affixed thereto or printed or otherwise reproduced thereon; provided, that a facsimile of the signature of one, but not both, of the officers may be printed or otherwise reproduced on any such bonds in lieu of his or her signing the same. (b) Any bonds of the corporation may be executed and delivered by it at any time and from time to time, shall be in such form and denominations and of such tenor and maturities, shall bear such rate or rates of interest payable and evidenced in such manner, may contain provisions for redemption prior to maturity, and may contain such other provisions not inconsistent with this article, all as may be provided by the resolution of the board of directors under which such bonds are authorized to be issued; provided, that no bond of the corporation shall have a specified maturity date...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-1-177.htm - 6K - Match Info - Similar pages
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