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11-60-9
Section 11-60-9 Bonds - Form, terms, denominations, etc.; execution, sale, delivery, redemption,
etc.; refunding of bonds. All bonds issued by the corporation shall be payable solely out
of the revenues and receipts derived from the operation, leasing or sale by the corporation
of its projects or of any thereof as may be designated in the proceedings of the board of
directors under which the bonds shall be authorized to be issued. Such bonds may be executed
and delivered by the corporation at any time and from time to time, may be in such form and
denominations and of such tenor and maturities, may be in registered or bearer form either
as to principal or interest or both, may be payable at such time or times, not exceeding 40
years from the date thereof, may be payable at such place or places whether within or without
the State of Alabama, may bear interest at such rate or rates payable at such time or times
and at such place or places and evidenced in such manner, may be executed by...
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11-50-237
Section 11-50-237 Execution, sale, etc., of bonds and refunding bonds of corporation generally;
terms, denominations, etc., thereof; charge, application, etc., of revenues from systems to
payment of bonds, etc., generally; vesting of title to systems in municipality and dissolution
of corporation upon payment of bonds in full. (a) All bonds issued by any corporation organized
under this division shall be signed by the chairman of its board of directors or other chief
executive officer and attested by its secretary, and the seal of such corporation shall be
affixed thereto. Any interest coupons applicable to the bonds of such corporation shall be
signed by the chairman of the board of directors or other chief executive officer, but a facsimile
of such signature may be impressed on any such interest coupon in lieu of his manually signing
the same. Any such bonds may be executed and delivered by such corporation at any time and
from time to time, shall be in such form and denominations...
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11-59-9
Section 11-59-9 Bonds - Form, terms, denominations, etc.; execution, sale, delivery, redemption,
etc.; refunding of bonds. All bonds issued by the corporation shall be revenue bonds and shall
be payable solely out of the revenues derived from the leasing or operation by the corporation
of its facilities or of any thereof as may be designated in the proceedings of the board of
directors under which they shall be authorized to be issued. Such bonds may be executed and
delivered by the corporation at any time and from time to time, may be in such form and denominations
and of such tenor and maturities, may be in registered or bearer form either as to principal
or interest or both, may be payable in such installments and at such time or times, not exceeding
40 years from the date thereof, may be payable at such place or places whether within or without
the State of Alabama, may bear interest at such rate or rates payable at such time or times
and at such place or places and evidenced in...
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11-62-8
Section 11-62-8 Bonds and notes generally - Form, terms, denominations, etc.; execution, sale,
delivery, redemption, etc.; security for payment of principal or interest; remedies upon default;
liability of municipalities, board, etc., thereupon. (a) Any authority shall have power to
issue from time to time its bonds and notes in such principal amount as its board shall determine
to be necessary to provide sufficient funds for achieving any of its corporate purposes, including
the payment of interest on any of its notes and bonds, the establishment of reserves to secure
any such notes and bonds and all other expenditures of such authority incident to and necessary
or convenient to carry out its corporate purposes and powers. Any authority shall also have
the power to issue from time to time notes to renew notes and bonds to pay notes, including
interest thereon and, whenever it deems refunding expedient, to refund any bonds by the issuance
of new bonds, whether the bonds to be refunded...
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11-97-10
Section 11-97-10 Security for payment of bonds; contracts and agreements to secure. (a) Bonds
issued by any corporation may, as its board may deem advisable, be either general obligations
of such corporation or limited obligations payable only out of certain specified revenues
or assets of such corporation; provided, that any corporation may enter into contracts with
the holders of any of its bonds preventing such corporation from thereafter issuing general
obligation bonds or limiting the amount of such bonds that may thereafter be issued. To the
extent permitted by any contracts with the holders of outstanding bonds and any other contractual
obligations or requirements, any corporation may pledge any of its revenues or mortgage or
assign any of its assets, whether real or personal and whether tangible or intangible, to
secure the payment of any of its bonds. (b) As security for payment of the principal of and
the interest and premium, if any, on any bonds issued or assumed by it, any...
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22-21-78
Section 22-21-78 Borrowing by corporation. (a) All securities of the corporation shall be signed
by the chairman of its board of directors and attested by its secretary, and the seal of the
corporation shall be affixed thereto. Any interest coupons applicable to the securities of
the corporation shall be signed by the chairman of the board of directors, but a facsimile
of such chairman's signature may be impressed on any such interest coupon in lieu of his manually
signing the same. Any securities of the corporation may be executed and delivered by it at
any time and from time to time, shall be in such form and denomination and of such tenor and
maturities, shall contain such provisions not inconsistent with this section and shall bear
such rate or rates of interest payable and evidenced in such manner as may be provided by
resolution of the board of directors. (b) Any borrowing may be effected by sale of such securities
at either public or private sale in such manner and at such price...
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11-54-89
Section 11-54-89 Bonds - Form, terms, denominations, etc.; execution, sale, delivery, redemption,
etc.; refunding of bonds. All bonds issued by the industrial development board 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 of directors
under which the bonds shall be authorized to be issued. Such bonds may be executed and delivered
by the board at any time and from time to time, may be in such form and denominations and
of such tenor and maturities, may be in registered or bearer form either as to principal or
interest or both, may be payable in such installments and at such time or times, not exceeding
40 years from the date thereof, may be payable at such place or places whether within or without
the State of Alabama, may bear interest at such rate or rates payable at such time or times
and at such place or places and evidenced in such manner,...
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23-1-158
Section 23-1-158 Bonds - Disposition of proceeds. (a) The proceeds of all bonds, other than
refunding bonds, issued by the corporation, remaining after paying the expenses of their issuance,
shall be turned in to the Treasury or shall be deposited into such account or accounts as
specified in the resolution of the board of directors whereunder such bonds are authorized
to be issued, and shall be subject to be drawn on upon the approval of the Department of Transportation
solely for the purpose of constructing, reconstructing, and relocating public roads, bridges
and approaches thereto, tunnels, other public roadway improvements, or work incidental or
related thereto, in the State of Alabama, including the acquisition of property necessary
for such construction, reconstruction, and relocation and incidental and related work. If
action is necessary in order to comply with any federal legislation relating to federal aid
in construction of roads, the corporation may authorize 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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33-12-5
Section 33-12-5 Powers, duties and functions. The powers, duties and functions of the agency
shall be as follows: (1) GENERALLY. The agency a. Shall have perpetual succession in its corporate
name. b. May sue and be sued in its corporate name. c. May adopt, use and alter a corporate
seal, which shall be judicially noticed. d. May enter into such contracts and cooperative
agreements with the federal, state and local governments, with agencies of such governments,
with private individuals, corporations, associations, trusts and other organizations as the
board may deem necessary or convenient to enable it to carry out the purposes of this chapter,
including the planned, orderly residential development of the area. e. May adopt, amend and
repeal bylaws. f. May appoint such managers, officers, employees, attorneys and agents as
the board deems necessary for the transaction of its business, fix their compensation, define
their duties, require bonds of such of them as the board may...
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