33-2-193
Section 33-2-193 Docks facilities revenue bonds and refunding bonds - Preservation of outstanding appropriations, pledges and covenants by state and department. It is the intention of the Legislature in enacting this article to preserve inviolate all appropriations and pledges heretofore made of any portion of any revenues of the department for the benefit of any of the outstanding bonds. The state does hereby covenant and agree with the holder of each docks facilities revenue bond or refunding bond issued pursuant to the authority of this article that while any such bonds are outstanding and unpaid (a) neither the state nor the department will appropriate or pledge any portion of the docks facilities revenues for the benefit of any obligations that may at any time be issued pursuant to any statute, ranking on a parity with or superior to the pledge made for the benefit of docks facilities revenue bonds and refunding bonds herein authorized, provided that such covenant and agreement...
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33-2-186
Section 33-2-186 Docks facilities revenue bonds and refunding bonds - Nature of; pledge; negotiable instruments. The docks facilities revenue bonds and refunding bonds shall not be general obligations of the department but shall be payable solely out of docks facilities revenues. As security for the payment of the principal of, premium, if any, and interest on the docks facilities revenue bonds and refunding bonds issued by it under this article, the department is hereby authorized and empowered to pledge for payment of the said principal, premium, if any, and interest all or any part of the docks facilities revenues. All contracts made and all docks facilities revenue bonds and refunding bonds issued by the department pursuant to the provisions of this article shall be solely and exclusively obligations of the department and shall not be an obligation or debt of the state. The docks facilities revenue bonds and refunding bonds, except while registered, shall be construed to be...
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33-2-185
Section 33-2-185 Docks facilities revenue bonds and refunding bonds - Sale. Docks facilities revenue bonds and refunding bonds may be sold by the department from time to time in series, and if sold in more than one series may all be authorized in one initial order of the director with the pledges therefor made in such initial order, notwithstanding that details applicable to each series may be specified in the respective orders under which such series are issued. Each series of the docks facilities revenue bonds or refunding bonds may be sold at public or private sale, as determined by the director, at such price or prices as the director shall determine, and if sold at public sale either on sealed bids or at public auction, to the bidder whose bid reflects the lowest true interest cost to the department for the series of the docks facilities revenue bonds or refunding bonds being sold, computed from the date of those at the time being sold to their respective maturities and taking...
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33-2-90
Section 33-2-90 Definitions. The words and phrases hereinafter set forth, wherever used in this article, shall have the respective meanings hereinafter ascribed to them. These definitions shall include both the singular and the plural. (1) 1957 DOCKS AMENDMENT. Amendment 116 of the Constitution of Alabama. (2) THE STATE. The State of Alabama. (3) THE DEPARTMENT. The Alabama State Docks Department and any department or agency of the state that may succeed to its duties. (4) DOCKS FACILITIES. Docks and all kinds of dock facilities, including elevators, warehouses, water and rail terminals, wharves, piles, quays, compresses, storm haven facilities for all types of watercraft, channels between navigable waterways of the state for the purpose of connecting such waterways and aiding the use thereof, and other related structures, facilities and improvements, that may be needed for the convenient use of the same. (5) 1957 DOCKS ACT. Article 1 of this chapter. (6) 1959 DOCKS ACT. Article 2 of...
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33-2-120
Section 33-2-120 Definitions. The words and phrases hereinafter set forth, wherever used in this article, shall have the respective meanings hereinafter ascribed to them: (1) 1967 DOCKS AMENDMENT. Amendment 274 of the Constitution of Alabama. (2) 1957 DOCKS AMENDMENT. Amendment 116 of the Constitution of Alabama. (3) THE STATE. The State of Alabama. (4) THE DEPARTMENT. The Alabama State Docks Department and any department or agency of the state that may succeed to its duties. (5) FACILITIES. Elevators, warehouses, docks, water and rail terminals, wharves, piles, quays, compresses, storm haven facilities for all types of watercraft, channels between navigable waterways of the state for the purpose of connecting such waterways and aiding the use thereof, and other related structures, facilities and improvements, that may be needed for the convenient use of the same. (6) 1957 DOCKS ACT. Article 1 of this chapter. (7) 1959 DOCKS ACT. Article 2 of this chapter. (8) 1961 DOCKS ACT. Article 3...
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33-2-150
Section 33-2-150 Definitions. The words and phrases hereinafter set forth, wherever used in this article, shall have the respective meanings hereinafter ascribed to them: (1) 1969 DOCKS AMENDMENT. Amendment 288 of the Constitution of Alabama. (2) 1967 DOCKS AMENDMENT. Amendment 274 of the Constitution of Alabama. (3) 1957 DOCKS AMENDMENT. Amendment 116 of the Constitution of Alabama. (4) THE STATE. The State of Alabama. (5) THE DEPARTMENT. The Alabama State Docks Department and any department or agency of the state that may succeed to its duties. (6) FACILITIES. Elevators, warehouses, docks, water and rail terminals, wharves, piles, quays, compresses, storm haven facilities for all types of watercraft, channels between navigable waterways of the state for the purpose of connecting such waterways and aiding the use thereof, and other related structures, facilities and improvements, that may be needed for the convenient use of the same. (7) 1957 DOCKS ACT. Article 1 of this chapter. (8)...
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33-2-60
Section 33-2-60 Definitions. The words and phrases hereinafter set forth, wherever used in this article, shall have the respective meanings hereinafter ascribed to them. These definitions shall include both the singular and the plural. (1) 1957 DOCKS AMENDMENT. Amendment 116 of the Constitution of Alabama. (2) THE STATE. The State of Alabama. (3) THE DEPARTMENT. The Alabama State Docks Department and any department or agency of the state that may succeed to its duties. (4) DOCK FACILITIES. Docks and all kinds of dock facilities, including elevators, warehouses, water and rail terminals, wharves, piles, quays, compresses, storm haven facilities for all types of watercraft, channels between navigable waterways of the state for the purpose of connecting such waterways and aiding the use thereof and other related structures, facilities and improvements that may be needed for the convenient use of the same. (5) 1957 DOCKS ACT. Article 1 of this chapter. (6) 1959 DOCKS ACT. Article 2 of this...
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33-2-183
Section 33-2-183 Docks facilities revenue bonds and refunding bonds - Generally. The docks facilities revenue bonds and the refunding bonds shall be in such forms and denominations and of such tenor and maturities (either serial or term or a combination thereof), provided that no docks facilities revenue bond or refunding bond shall have a specified maturity date, including sinking fund redemptions, later than 30 years after its date, shall bear such rate or rates of interest (including a zero rate of interest) payable and evidenced in such manner, and may contain other provisions not inconsistent with this article, all as may be provided in the order or orders of the director in which the docks facilities revenue bonds or the refunding bonds, respectively, are authorized to be issued; provided, that no such order shall be valid without the written approval of the Governor. Notwithstanding any other provision of this article to the contrary, the director may, in connection with the...
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33-2-8
Section 33-2-8 General provisions relative to inland waterways improvement bonds and temporary loans. In order to provide funds for the purposes herein authorized, the Governor is hereby empowered to execute, with the concurrence of the director of state docks, and to sell the state's bonds in such amounts, not exceeding in the aggregate the sum of $3,000,000.00 as may be necessary for said purposes, all under and subject to the following provisions: Said bonds shall be appropriately designated as inland waterways improvement bonds of the state. The bonds may be issued from time to time in one or more series and the bonds of each series shall be payable in substantially equal annual installments of principal and interest at such times as may be designated by the State Docks Department with approval of the Governor; provided, that the first installment of principal of the bonds of each series must mature not later than 10 years from the date of such series and the last installment of...
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33-13-2
Section 33-13-2 Legislative intent; construction of chapter. It is the intention of the Legislature by the passage of this chapter to implement Constitutional Amendment No. 338 by: (1) Authorizing the issuance of the interest-bearing general obligation bonds of the state provided for in the said constitutional amendment; (2) Providing for the incorporation of a public corporation to act as the agency of the state in the authorization, sale, issuance and approval of disbursement of proceeds of the said bonds and to perform the other functions hereinafter specified; and (3) Providing for the expenditure of the proceeds from the said bonds. It is also the intention of the Legislature that, to the extent deemed feasible, in the sole discretion of the Alabama State Docks Department with the approval of the Alabama Port Authority, the proceeds from the said bonds will be used in preparation for and in anticipation of the demands that will be made upon and the opportunities that will be...
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