|
44-1-92
Section 44-1-92 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER. THIS SECTION HAS NOT BEEN
CODIFIED BY THE LEGISLATURE. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) There is hereby
created the Department of Youth Services Capital Improvement Trust Fund and the Youth Services
Capital Improvement Trust Fund Income Account as separate funds in the state treasury. Any
unexpended or unencumbered balances in the funds shall not revert at the end of each fiscal
year, but shall remain in the funds and may be carried over into each succeeding fiscal year.
Any income earned on the trust income account shall accrue to the fund. The funds shall be
administered by the State Treasurer, which shall be entitled to a reasonable fee for the administration.
All investments shall be made pursuant to the same authority and restrictions that apply to
the investment of State funds. (b) Funding to the Department of Youth Services Capital Improvement
Trust Fund shall consist of funds resulting from the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/44-1-92.htm - 3K - Match Info - Similar pages
5-12A-4
Section 5-12A-4 Common trust fund plan. Each common trust fund shall be established and maintained
in accordance with a written plan (referred to herein as the plan) approved by resolution
of the board of directors of the trust institution and approved in writing by competent legal
counsel. The plan shall provide that the common trust fund shall be administered under the
laws of this state and of the United States and in conformity with the rules and regulations
promulgated from time to time under authority of such laws and shall contain full and detailed
provisions, not inconsistent with the provisions of this chapter, as to the manner in which
the common trust fund is to be operated, the investment powers with respect to the common
trust fund, the allocation and apportionment of income, profits and losses, the terms and
conditions governing the admission or withdrawal of investments or participations in the common
trust fund, the auditing and settlement of accounts of the trust...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-12A-4.htm - 2K - Match Info - Similar pages
9-14A-17
Section 9-14A-17 Use of bonds. All bonds, including refunding bonds, issued pursuant hereto,
and the income therefrom, including the interest income thereon, shall be free from all taxation
by the state or any county, municipality, or other political subdivision or instrumentality
of the state, excepting inheritance, estate, and gift taxes. Any bonds issued by the corporations
may be used by the holder thereof as security for any funds belonging to the state or to any
instrumentality or agency of the state in any instance where security for such deposits may
be required by law. Unless otherwise directed by the court having jurisdiction thereof, or
by the document that is the source of authority, a trustee, executor, administrator, guardian,
or one acting in any other fiduciary capacity may, in addition to any other investment powers
conferred by law and with the exercise of reasonable business prudence, invest trust and other
fiduciary funds in bonds of the corporations. (Act 2000-708,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-14A-17.htm - 1K - Match Info - Similar pages
11-104-5
Section 11-104-5 Funding; trust investments. (a) Subject to any limitations necessary to ensure
the tax-exempt status of a trust, the sources of funding to a trust may be any of the following:
(1) Appropriations made by the governmental entity. (2) Contributions by employees and retired
employees. (3) Employer contributions. (4) Investment income. (5) Proceeds of any gifts, grants,
or contributions. (6) Transfers from another trust or fund held by a governmental entity.
(7) Bonds, warrants, notes, or other evidence of indebtedness. (8) All other sources permitted
by law. (b) Subject to payment for fees and reasonable expenses of maintaining a trust, the
funds deposited into a trust shall be used for the exclusive purpose of funding post-employment
benefit obligations of the governmental entity or entities. The agreements creating a trust
shall be irrevocable, subject to subsection (e) of Section 11-104-3 and Section 11-104-8,
and the assets of a trust shall not be expended, disbursed,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-104-5.htm - 2K - Match Info - Similar pages
11-57-15
Section 11-57-15 Bonds - Security for payment of principal and interest. The principal of and
the interest on the bonds shall be secured by a pledge of the revenues out of which the bonds
shall be made payable by an assignment or pledge of the lease agreement covering the project
from which revenues so pledged shall be derived and by a pledge of the rental from such project
and may be secured by a nonforeclosable indenture covering the project. The trustee under
any indenture may be a trust company or bank having trust powers, whether located within or
without the state. The indenture may contain any agreements and provisions customarily contained
in instruments securing evidences of indebtedness, including, without limiting the generality
of the foregoing, provisions respecting the collection, segregation and application of the
rental from any project covered by such indenture, the terms to be incorporated in the lease
agreement respecting the project, the maintenance and insurance of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-57-15.htm - 2K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-62-8.htm - 12K - Match Info - Similar pages
14-2-21
Section 14-2-21 Bonds - Security. The principal of, premium, if any, and interest on the bonds
of the authority shall be secured by any or all of the following, as the authority may determine:
(1) The rent and revenue for the use of one or more facilities of the authority; (2) The net
rent or sale proceeds from the Kilby property; (3) Any bond proceeds remaining unexpended
upon completion of all facilities to be constructed with such bond proceeds and the payment
of the cost thereof; (4) Any insurance proceeds which the authority may receive by reason
of its ownership of any of the facilities; and (5) Any mortgage upon or security interest
in one or more facilities of the authority, granted in connection with the issuance of such
bonds. The authority shall have authority to transfer and assign any lease of any of the facilities
and any lease or mortgage of the Kilby property as security for the payment of such principal,
premium, if any, and interest. The bonds may be issued under, and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/14-2-21.htm - 2K - Match Info - Similar pages
19-4A-3
Section 19-4A-3 Short-term investment vehicle. In the absence of specific instructions in the
governing document, the fiduciary shall invest idle funds in each fiduciary account in a short-term
investment vehicle, which may include a deposit in an interest-bearing account, a money market
mutual fund, or any other generally accepted investment vehicle for the investment of idle
funds. Such deposit in an interest-bearing account may be in the fiduciary's own commercial
bank or any affiliate thereof. Such investment in a money market mutual fund or any other
generally accepted investment vehicle may include: (1) a mutual fund or investment vehicle
provided by a third party vendor, even if the bank or trust company or any affiliate thereof
receives separate compensation from the vendor, or (2) a mutual fund or investment vehicle
provided by the bank or trust company or any affiliate thereof for which the bank or trust
company or any affiliate thereof may receive compensation as the mutual...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-4A-3.htm - 1K - Match Info - Similar pages
22-21-331
Section 22-21-331 Remedies for default in payment of securities or performance of lease agreement.
(a) If there should be any default in the payment of the principal of or interest on any securities
issued under this article, then the holder of any such securities and any coupons applicable
thereto (subject to any provision of the resolution or indenture under which such securities
were issued restricting the individual rights of action of any such holders or vesting such
rights exclusively in a trustee), and the trustee under any indenture, or any one or more
of them: (1) May, by mandamus, injunction or other proceedings, compel performance of all
duties of the directors and officers of the authority with respect to the use of funds for
the payment of such securities and for the performance of the agreements of the authority
contained in the proceedings under which they were issued; (2) Shall be entitled to a judgment
against the authority for the principal of and interest on the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-331.htm - 3K - Match Info - Similar pages
22-32-5
Section 22-32-5 Radiation Safety Fund; licensing and inspection fees; bond of contractor-leasor;
perpetual care fund; operating fund; compact commission fund; royalty fees; appropriation.
(a) There is hereby created a Radiation Safety Fund into which the State Treasurer shall deposit
the licensing, application, and inspection fee of the Radiation Control Agency. The Radiation
Control Agency is authorized to collect for deposit into the Radiation Safety Fund application,
licensing and inspection fees equal to 75 percent of those fees charged by the U.S. Nuclear
Regulatory Commission for issuing similar licenses. This authority applies only to the specific
licenses issued by the Radiation Control Agency. The funds available in the Radiation Safety
Fund are appropriated to the State Health Department for the purpose of Title 22, Chapter
14. The moneys in this fund may be carried over from one fiscal year to the next provided
that any unencumbered funds in excess of $100,000.00 on...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-32-5.htm - 5K - Match Info - Similar pages
|