11-86A-15
Section 11-86A-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 a trust company or bank having trust powers, whether the trust company or bank is located
within or outside of the state. In any 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 rights exist or may thereafter come into existence,
and may assign, as security for payment, any of its leases, franchises, permits, and contracts.
In any indenture, an authority may mortgage any 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 secured
thereby or in the event of default with respect to any agreement contained therein, the mortgage
may be foreclosed either by sale at public outcry or by...
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11-94-12
Section 11-94-12 Bonds of authority - Indenture; lien; remedies of bondholders. In the discretion
of its board, any bonds issued by an authority 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 bank
or trust company 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 and may assign, as security for such payment, any of its leases,
franchises, permits and contracts; and 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 secured thereby or in the event of default
with respect to any agreement contained therein, such...
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37-13-13
Section 37-13-13 Bonds of authority - Security. In the discretion of the authority any bonds
may be issued under and secured by an indenture between the authority and a trustee. Said
trustee may be a private person or corporation, including (but not limited to) any trust company
or bank having trust powers, whether such bank or trust company is located within or without
the state. In any such indenture or resolution providing for the issuance of bonds, the 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 and may assign, as security
for such payment, any of its leases, franchises, permits and contracts; and in any such indenture,
the authority may mortgage any of its properties, including any that may be thereafter acquired
by it. Any such pledge of revenues shall be valid and binding from the time it is made, and
the revenues so pledged and thereafter received...
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4-3-54
Section 4-3-54 Bonds - Security for payment of principal and interest. In the discretion of
the authority, any bonds may be issued under and secured by an indenture between the authority
and a trustee. Said trustee may be a private person or corporation, including, but not limited
to, any trust company or bank having trust powers, whether such bank or trust company is located
within or without the state. In any such indenture or resolution providing for the issuance
of bonds, the authority may pledge for payment of the principal of and the interest on such
bonds any of its revenues, rents, income or funds to which its right then exists or may thereafter
come into existence and may assign, as security for such payment, any of its leases, franchises,
permits and contracts and, in any such indenture, the authority may mortgage any of its properties,
including any that may be thereafter acquired by it. Any such pledge of revenues shall be
valid and binding from the time it is made, and the...
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4-3-17
Section 4-3-17 Security for bonds. In the discretion of the authority, any bonds may be issued
under and secured by an indenture between the authority and a trustee. Said trustee may be
a private person or corporation, including but not limited to any trust company or bank having
trust powers, whether such bank or trust company is located within or without the state. In
any such indenture or resolution providing for the issuance of bonds, the 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 and may assign as security for
such payment, any of its leases, franchises, permits and contracts; and, in any such indenture
the authority may mortgage any of its properties, including any that may be thereafter acquired
by it. Any such pledge of revenues shall be valid and binding from the time it is made, and
the revenues so pledged and thereafter received by the authority...
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45-37A-56.35
Section 45-37A-56.35 Security of bonds. In the discretion of the authority any bonds may be
issued under and secured by an indenture between the authority and a trustee. The trustee
may be a private person or corporation, including, but not limited to, any trust company or
bank having trust powers, whether such bank or trust company is located within or without
the state. In any such indenture or resolution providing for the issuance of bonds the 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 and may assign, as security
for such payment, any of its leases, franchises, permits, and contracts; and in any such indenture
the authority may mortgage any of its properties, including any properties thereafter acquired
by it. Any such pledge of revenues shall be valid and binding from the time it is made, and
the revenues so pledged and thereafter received by the...
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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...
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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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41-9-682
Section 41-9-682 Function and powers generally. (a) It shall be the function and main purpose
of the board to honor those, living or dead, who, by achievement or service, have made outstanding
and lasting contributions to music in Alabama or elsewhere. The board may adopt such rules,
regulations and bylaws as may be needed to carry out its functions. Also, it may conduct surveys
and polls and may appoint such committees and representatives as it may determine necessary
or desirable. The board may acquire, construct, install, equip, lease, manage and operate
buildings and other facilities consisting of any one or more of the following to be located
in Colbert County, Alabama: (i) a music hall of fame and exhibition facility for the display
of busts, statues, plaques, books, papers, computerized figures, memorabilia, records, films,
audio tapes, video tapes, compact disks, recordings, pictures and other exhibits relating
to music and musicians, (ii) a library, research and educational...
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11-62-7
Section 11-62-7 Powers of authority generally; operation of facilities by authority. (a) Every
authority shall have all of the powers necessary and convenient to carry out and effectuate
the purposes and provisions of this chapter, including, without limiting the generality of
the foregoing, the following powers: (1) To have succession in its corporate name for the
duration of time (which may be in perpetuity, subject to the provisions of Section 11-62-17)
specified in its certificate of incorporation; (2) To sue and be sued in its own name in civil
suits and actions and to defend suits against it; (3) To adopt and make use of a corporate
seal and to alter the same at pleasure; (4) To adopt, alter, and repeal bylaws, regulations,
and rules, not inconsistent with the provisions of this chapter, for the regulation and conduct
of its affairs and business; (5) To acquire, whether by gift, purchase, transfer, foreclosure,
lease, or otherwise, and to expand, improve, maintain, equip, and...
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