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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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-62-8.htm - 12K - Match Info - Similar pages
11-92A-15
Section 11-92A-15 Security for bonds. (a) In the discretion of the board of directors of an
authority, any bonds may be secured by an indenture between an authority and a trustee, which
may be any trust company or bank having trust powers, whether such trust company or bank is
located within or without the state. In any such indenture or resolution providing for the
issuance of bonds an authority may pledge, for payment of the principal of and the interest
on such bonds, any of its revenues to which its right then exists or may thereafter come into
existence, including, but not limited to, revenues or other money or property pledged to it
by any public or private person, and may assign, as security for such payment, any of its
leases, loan agreements, franchises, permits, and contracts. In any such indenture, an authority
may mortgage any of its properties, including any that may be thereafter acquired by it, and
may provide that in the event of a default in payment of the bonds...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-92A-15.htm - 4K - Match Info - Similar pages
11-92B-1
Section 11-92B-1 Definitions. When used in this chapter, the following words and terms shall
have the following meanings, respectively, unless the context clearly indicates otherwise:
(1) ARTICLES. The articles of incorporation of an authority. (2) AUTHORITY. A public corporation
incorporated pursuant to this chapter. (3) BOARD. The board of directors of an authority.
(4) BOND or BONDS. A bond or bonds issued under this chapter. (5) COUNTY OF INCORPORATION.
The county in which an authority has been or is proposed to be incorporated. (6) DIRECTORS.
The members of the board of directors. (7) INCORPORATORS. The natural persons filing a written
application for the incorporation of an authority pursuant to this chapter. (8) JUDGE OF PROBATE.
The judge of probate of the county of incorporation of an authority. (9) MILITARY INSTALLATION.
A federal military fort, base, camp, post, station, yard, depot, arsenal, armory, or installation.
(10) OPERATIONAL AREA. The parcels of realty within a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-92B-1.htm - 3K - Match Info - Similar pages
41-10-324
Section 41-10-324 Leasing to commission and other agencies. (a) The authority is hereby authorized
to enter into a lease or leases of any one or more facilities constructed, acquired, reconstructed,
renovated or improved by the authority under the provisions of this article, to and with the
commission or any other agency of the state which may be charged with the responsibility for
the operation of the commission's facilities. The commission and any such other agency of
the state and each of them are hereby authorized to lease any such facilities from the authority.
No such lease shall, however, be for a term longer than the then current fiscal year of the
state, but any such lease may contain a grant to the commission or any state agency of successive
options of renewing said lease on the terms specified therein for any subsequent fiscal year
or years of the state; provided, that liability for the payment of rent shall never be for
a term longer than one fiscal year. (b) Rent payments...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-324.htm - 3K - Match Info - Similar pages
41-10-38
Section 41-10-38 Allocation formulae. (a) The state ceiling for calendar year 1989 and thereafter
is hereby allocated in its entirety to the state, and no other governmental unit, issuer,
or other entity of any type shall have or utilize any portion of the state ceiling for such
year except in accordance with this division. The state ceiling for calendar year 1989 and
thereafter shall be redistributed by the authority to issuers of affected bonds in the chronological
order of receipt of completed applications, subject to the limitations, reservations and further
provisions of this subsection. (1) There is hereby reserved for Alabama Housing Finance Authority
25 percent of the state ceiling for each calendar year, to be used for the issuance of exempt
facility bonds for qualified residential rental projects and for the issuance of qualified
mortgage bonds, in such relative principal amounts as shall be determined by the Board of
Directors of Alabama Housing Finance Authority. The...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-38.htm - 6K - Match Info - Similar pages
41-8-21
Section 41-8-21 Enactment of compact; form. The Interstate Library Compact is hereby enacted
into law and entered into by this state with all states legally joining therein in the form
substantially as follows: INTERSTATE LIBRARY COMPACT. Article I. Policy and Purpose. Because
the desire for the services provided by libraries transcends governmental boundaries and can
most effectively be satisfied by giving such services to communities and people regardless
of jurisdictional lines, it is the policy of the states party to this compact to cooperate
and share their responsibilities; to authorize cooperation and sharing with respect to those
types of library facilities and services which can be more economically or efficiently developed
and maintained on a cooperative basis and to authorize cooperation and sharing among localities,
states and others in providing joint or cooperative library services in areas where the distribution
of population or of existing and potential library...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-8-21.htm - 13K - Match Info - Similar pages
11-49B-9
Section 11-49B-9 Bonds of authority. All bonds issued by the authority shall be signed by the
chair of its board or other chief executive officer and attested by its secretary, and the
seal of the authority shall be affixed to the bond, and any interest coupons applicable to
the bonds of the authority shall be signed by the chair of its board or other chief executive
officer. A facsimile of the signature of one, but not both, of the officers may be printed
or otherwise reproduced on any of the bonds in lieu of his or her manually signing the bonds,
a facsimile of the seal of the authority may be printed or otherwise reproduced on any of
the bonds in lieu of being manually affixed to the bonds, and a facsimile of the signature
of the chair of its board or other chief executive officer may be printed or otherwise reproduced
on any interest coupons in lieu of his or her manually signing the bonds. Bonds may be executed
and delivered by the authority and from time to time, shall be in such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-49B-9.htm - 4K - Match Info - Similar pages
11-54-127
Section 11-54-127 Additional powers of boards. (a) In addition to all other powers conferred
on it by law, and subject to any express provisions of its certificate of incorporation to
the contrary, any industrial development board shall have all of the following powers, together
with all powers incidental thereto or necessary to the discharge thereof in corporate form:
(1) To create or establish one or more endowment trust funds. (2) To receive and accept from
any private source, for the account of any endowment trust fund so created or established
by it, contributions in the form of gifts of money, stocks, bonds, and other debt securities,
other personal property, whether tangible or intangible, and real property of any description,
subject, in the case of any such contribution, to any lawful condition to the use thereof
that is specified by the donor thereof and that is not inconsistent with the provisions of
this division. (3) To deposit, or to cause to be deposited, into any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54-127.htm - 4K - Match Info - Similar pages
11-85-107
Section 11-85-107 Bonds - Authentication; redemption; sale; refunding; use of proceeds; security;
investment of funds. The bonds of the authority shall be signed by its president and attested
by its secretary and the seal of the authority shall be affixed thereto or a facsimile of
such seal shall be printed or otherwise reproduced thereon; provided, that a facsimile of
the signature of one, but not both, of said officers may be printed or otherwise reproduced
on any such bonds in lieu of being manually subscribed thereon and a facsimile of the signatures
of both of the officers may be printed or otherwise reproduced on such bonds in lieu of being
manually affixed thereof if the authority, in its proceedings with respect to issuance of
the bonds, provides for manual authentication of such bonds. The State Treasurer shall be
registrar, transfer agent, and paying agent for the bonds. The State Treasurer may designate
named individuals who are employees of the state and who are assigned to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-85-107.htm - 7K - Match Info - Similar pages
11-86A-16
Section 11-86A-16 Application of proceeds from the sale of bonds; source of payment; pledge
of county's or municipality's credit; negotiability; exemption from taxation; pledge as security
for funds belonging to a public person; investment in bonds by fiduciaries; no public hearing
required; investment in bonds by Teachers' Retirement System of Alabama, the Employees' Retirement
System of Alabama, and the State Insurance Fund; investment in bonds by public persons. (a)
The proceeds from the sale of any bonds shall be applied as provided in the proceedings in
which the bonds are authorized to be issued, including, without limitation, the payment of
all legal, fiscal, and recording fees and expenses incurred in connection with the authorization,
sale, and issuance of the bonds and, if provided in the proceedings authorizing their issuance,
interest on the bonds (or if only a part of any issue of bonds is issued for acquisition purposes,
interest on that portion of the bonds of that issue...
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