11-101A-14
Section 11-101A-14 Securities payable out of revenues from projects, properties, etc., indenture
may contain agreements; liens. (a) Securities issued by an authority shall not be general
obligations of the authority but shall be payable solely out of the revenues from any project
or other properties or assets, including, without limitation, proceeds from the securities,
investment income and insurance, and condemnation proceeds, owned by it, all as may be provided
or specified in the resolution of the board authorizing the securities or the indenture under
which issued. The principal of and interest, and premium, if any, on any securities issued
by the authority shall be secured by a pledge of the revenues out of which the same are payable
and may be secured by an indenture conveying as security for the securities all or any part
of its property, which indenture may be subject to foreclosure. (b) Any indenture executed
on behalf of the authority and any resolution of the board...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-101A-14.htm - 4K - Match Info - Similar pages

22-21-323
Section 22-21-323 Source of payment; security. (a) Securities issued by an authority shall
not be general obligations of the authority but shall be payable solely out of the revenues
from any health care facilities or other properties or assets (including, without limitation,
proceeds from such securities, investment income and insurance and condemnation proceeds)
owned or operated by it and the proceeds of any hospital tax appropriated, apportioned or
allocated to it or for its benefit, or any portion of either thereof, all as may be provided
or specified in the resolution of the board authorizing such securities or the indenture under
which issued. The principal of and interest (and premium, if any) on any securities issued
by the authority shall be secured by a pledge of the revenues or taxes (or both) out of which
the same are payable and may be secured by a trust indenture evidencing such pledge or by
a foreclosable mortgage, mortgage indenture or mortgage and trust indenture...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-323.htm - 4K - Match Info - Similar pages

11-95-8
Section 11-95-8 Bonds of corporation - From what source payable; pledge of revenues; execution;
form, interest rate, maturity, sale, and negotiability; nature of obligation and source of
payment; investment eligibility. (a) All bonds issued by a corporation shall be payable solely
from one or more of the following sources as may be designated in the proceedings of the board
under which such bonds shall be authorized to be issued: (1) Hospital taxes; and (2) Revenues
from any hospital facilities owned or operated by it. (b) The principal of and interest on
any bonds issued by a corporation shall be secured by a pledge of the designated revenues
and may be secured by a trust indenture evidencing such pledge or by a non-foreclosable mortgage
and deed of trust conveying as security for such bonds all or any part of the property of
the corporation from which any part of the designated revenues so pledged may be derived.
The resolution of the board under which the bonds are authorized to be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-95-8.htm - 4K - Match Info - Similar pages

33-10-24
Section 33-10-24 Issuance of bonds. The commission is granted the power to incur debt and issue
bonds by any of the means authorized by the Constitution and laws of the State of Alabama.
Any revenue-producing wharf, dock, warehouse, elevator, industrial facility or other structure
owned by or to be acquired by the commission from proceeds of bonds issued by it is hereby
declared to be a revenue-producing public utility as that term is used and defined by the
Constitution and laws of the state in connection with the issuance of revenue bonds of political
subdivisions of the state. As an additional grant of authority beyond other provisions of
the Constitution, the commission is authorized to issue negotiable bonds for any purpose within
their delegated authority, and to pledge for the payment of the principal and interest of
such negotiable bonds the income and revenues derived or to be derived from the properties
and facilities maintained and operated by them or received by the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-10-24.htm - 1K - Match Info - Similar pages

37-13-11
Section 37-13-11 Bonds of authority - Generally. Each authority shall have the power and is
hereby authorized at any time and from time to time to issue and sell its revenue bonds for
any of its corporate purposes. The principal of and the interest on all such bonds shall be
payable solely from, and may be secured by a pledge of, the revenues derived by the authority
from the operation, leasing or sale of any or all of its railroad properties and facilities,
and other property. No bonds issued or contracts entered into by the authority shall ever
constitute or create an obligation or debt of the state, or of any county, city or town within
the state, or a charge against the credit or taxing powers of the state, or of any county,
city or town within the state. Bonds of the authority may be issued by any time and from time
to time, may be in such form, either in bearer form with appurtenant coupons (and subject
to registration as to principal or interest, or both, all as the board may...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-13-11.htm - 3K - Match Info - Similar pages

45-29-90.13
Section 45-29-90.13 Execution of bonds; pledge of revenues, receipts, and other security. All
bonds issued by the authority shall be signed by the chair of its board of directors and attested
by its secretary-treasurer, and the seal of the authority shall be affixed thereto, and any
interest coupons applicable to the bonds of the authority shall be signed by the chair; provided,
that a facsimile of the signature of one, but not both, of the officers may be printed or
otherwise reproduced on any such bonds in lieu of his or her manually signing the same, a
facsimile of the seal of the authority may be printed or otherwise reproduced on any such
bonds in lieu of being manually affixed thereto, and a facsimile of the signature of the chair
of its board of directors may be printed or otherwise reproduced on any such interest coupons
in lieu of his or her manually signing the same. Any such bonds may be executed and delivered
by the authority at any time, and from time to time, shall be in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-29-90.13.htm - 4K - Match Info - Similar pages

11-86A-12
Section 11-86A-12 Powers of authority generally. An authority shall have the following powers:
(1) To have succession by its corporate name until dissolved as provided in this chapter.
(2) To institute and defend legal proceedings in any court of competent jurisdiction and proper
venue; provided, however, that an authority may not be sued in any court other than the courts
of the county of incorporation; provided, further, that the officers, directors, agents, and
employees of an authority may not be sued for their actions on behalf of the authority except
for actions that are known by a person to be unlawful or are performed with reckless disregard
for the lawfulness of the actions. (3) To have and to use a corporate seal and to alter the
seal at its pleasure. (4) To establish a fiscal year. (5) To anticipate by the issuance of
its bonds the receipt of any revenues that may be appropriated by or to the authority and
to pledge the proceeds of the appropriations as security for the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-86A-12.htm - 5K - Match Info - Similar pages

41-10-626
Section 41-10-626 Bonds of the authority. (a) General. The authority is authorized from time
to time to sell and issue its bonds in limited amounts and for the purpose of promoting economic
development and industrial recruitment as specified by the Legislature from time to time by
separate act, provided that refunding bonds may be issued by the authority pursuant to Section
41-10-627 without first obtaining separate authorization from the Legislature. (b) Sources
of payment. Bonds issued by the authority shall be solely and exclusively an obligation of
the authority and shall not create an obligation or debt of the state. Such bonds shall not
be general obligations of the authority but shall be payable solely from one or more of the
following sources: (1) Appropriated funds. (2) The income or proceeds realized by the authority
under any mortgage or security granted to the authority. (3) Amounts derived from any letter
of credit, insurance policy, or other form of credit enhancement...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-626.htm - 5K - Match Info - Similar pages

41-10-755
Section 41-10-755 Bonds of the authority. (a) General. The authority is authorized from time
to time to sell and issue its bonds for the purpose of providing funds to be transferred to
and deposited in the Alabama Trust Fund and the Rainy Day Account, to provide additional funds
to the Alabama Medicaid Agency, for paying the costs of transportation projects, and for the
purpose of refunding any or all of the authority's outstanding bonds. (b) Sources of payment.
Bonds issued by the authority shall be solely and exclusively an obligation of the authority
and shall not create an obligation or debt of the state. Such bonds shall not be general obligations
of the authority but shall be payable solely from one or more of the following sources: (1)
Appropriated funds. (2) The income or proceeds realized by the authority under any mortgage
or security granted to the authority. (3) Amounts derived from any letter of credit, insurance
policy, or other form of credit enhancement applicable to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-755.htm - 5K - Match Info - Similar pages

11-85-105
Section 11-85-105 Powers of the authority. The authority shall have the following powers: (1)
To have succession by its corporate name until dissolved as provided in this article. (2)
To institute and defend legal proceedings in any court of competent jurisdiction and proper
venue; provided, that the authority may not be sued in any trial court other than the courts
of the county in which is located the principal office of the authority; provided further,
that the officers, directors, and agents of the authority may not be sued for action on behalf
of the authority in any trial court other than the courts of the county in which is located
the principal office of the authority. (3) To have and to use a corporate seal and to alter
the seal at pleasure. (4) To establish a fiscal year. (5) To anticipate by the issuance of
its bonds the receipt of the revenues appropriated and pledged in this article. (6) To pledge
the proceeds of the appropriations and pledges provided for in this article...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-85-105.htm - 1K - Match Info - Similar pages