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45-27A-31.09
Section 45-27A-31.09 Bonds of authority. (a) Source of payment. All bonds issued by the authority
shall be payable solely out of the revenues and receipts derived from the leasing or sale
by the board of its projects or of any thereof as may be designated in the proceedings of
the board under which the bonds shall be authorized to be issued. (b) Pledge of revenues,
receipts, and other security. (1) The principle of and interest on any bonds issued by the
authority shall be secured by a pledge of the revenues and receipts out of which the same
may be payable and may be secured by a mortgage and deed of trust or trust indenture conveying
as security for such bonds all or any part of the property of the authority from which the
revenues or receipts so pledged may be derived. (2) The resolution under which the bonds are
authorized to be issued and any such mortgage and deed of trust or trust indenture may contain
any agreements and provisions respecting the operation, maintenance, and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-27A-31.09.htm - 5K - Match Info - Similar pages
24-1-33
Section 24-1-33 Powers of authority to secure payment of bonds, etc. In connection with the
issuance of bonds or the incurring of any obligation under a lease and in order to secure
the payment of such bonds or obligations, the authority shall have power: (1) To pledge by
resolution, trust indenture, mortgage, subject to the limitations hereinafter imposed, or
other contract all or any part of its rents, fees or revenues. (2) To covenant against mortgaging
all or any part of its property, real or personal, then owned or thereafter acquired, or against
permitting or suffering any lien thereon. (3) To covenant with respect to limitations on its
right to sell, lease or otherwise dispose of any housing project, or any part thereof, or
with respect to limitations on its right to undertake additional housing projects. (4) To
covenant against pledging all or any part of its rents, fees and revenues to which its right
then exists, or the right to which may thereafter come into existence, or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/24-1-33.htm - 7K - Match Info - Similar pages
24-1-72
Section 24-1-72 Powers of authority to secure payment of bonds, etc. In connection with the
issuance of bonds or the incurring of any obligation under a lease and in order to secure
the payment of such bonds or obligations, the authority shall have power: (1) To pledge by
resolution, trust indenture, mortgage, subject to the limitations hereinafter imposed, or
other contract all or any part of its rents, fees, or revenues. (2) To covenant against mortgaging
all or any part of its property, real or personal, then owned or thereafter acquired, or against
permitting or suffering any lien thereon. (3) To covenant with respect to limitations on its
right to sell, lease, or otherwise dispose of any housing project, or any part thereof, or
with respect to limitations on its right to undertake additional housing projects. (4) To
covenant against pledging all or any part of its rents, fees, and revenues to which its right
then exists, or the right to which may thereafter come into existence, or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/24-1-72.htm - 7K - 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
16-16A-7
Section 16-16A-7 Additional findings; bonds authorized; procedures. (a) The Legislature finds
that the number of students attending the several school systems located in those areas of
North Alabama that will be directly impacted by the 2005 BRAC and Subsequent BRAC Actions
will collectively increase by an estimated 9,000 students. As a result, there will be a need
for the construction of additional school facilities as well as the renovation of existing
school facilities. The Legislature also finds that the 2005 BRAC and Subsequent BRAC Actions
will have a positive impact on future receipts to the Education Trust Fund, as the significant
population growth in North Alabama will increase sales, income, and other tax collections.
Thus, it is an efficient use of state funds to allow such revenue growth to help pay for capital
improvement costs associated with BRAC-related school construction. (b) The Alabama Public
School and College Authority is hereby authorized to sell and issue its...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-16A-7.htm - 24K - Match Info - Similar pages
22-23B-7
Section 22-23B-7 Purpose; issuing, selling and refunding of bonds. For the purpose of providing
funds for the authority to make loans to public bodies for a project or projects, or for the
payment of obligations incurred or temporary loans made for any of said purposes, the authority
is hereby authorized, from time to time, to issue and sell its bonds or other evidences of
indebtedness. Such bonds may be issued in one or more series; shall be in such form and denominations
and of such terms and maturities, not exceeding 30 years from the date of issue of each series;
shall bear such rate or rates of interest, payable and evidenced in such manner; may contain
such provisions for registration or for redemption prior to maturity; and may contain such
other provisions not inconsistent herewith, all as may be provided by the authorizing resolution.
As security for the payment of the principal of and interest on its bonds, the authority is
authorized to pledge, transfer and assign any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-23B-7.htm - 4K - Match Info - Similar pages
41-10-674
Section 41-10-674 Authorization to issue bonds. (a) General. The authority is authorized from
time to time to sell and issue the bonds in one or more series in an aggregate principal amount
of up to one hundred three million seven hundred sixty thousand dollars ($103,760,000) in
order to provide the funds to pay project costs, ancillary costs and training costs. In addition,
proceeds of the bonds in an amount up to four million six hundred fifty-five thousand dollars
($4,655,000) shall be used to pay the cost of reconstructing and improving the flood levee
located in Elba, Alabama and proceeds in an amount up to five million eight hundred ten thousand
dollars ($5,810,000) shall be used to pay the cost of reconstructing and improving the flood
levee located in Geneva, Alabama. Of the proceeds of the bonds an amount up to seven hundred
sixty thousand dollars ($760,000) shall be allocated for the acquisition of high technology
and audio-visual equipment for an advanced aerospace training...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-674.htm - 3K - Match Info - Similar pages
11-57-20
Section 11-57-20 Remedies upon default on bonds, lease agreements, etc. (a) In event of default
on the bonds. If there should be any default in the payment of the principal of or interest
on any bonds issued under this chapter, then the holder of any of the bonds and of any of
the interest coupons applicable thereto and the trustee under any indenture, or any one or
more of them, may by mandamus, injunction or other proceedings compel performance of all duties
of the officers and directors of the authority with respect to the use of funds for the payment
of the bonds and for the performance of the agreements of the authority contained in the proceedings
under which they were issued, shall be entitled to a judgment against the authority for the
principal of and interest on the bonds so in default and, regardless of the sufficiency of
the security for the bonds in default and as a matter of right, shall be entitled to the appointment
of a receiver to make lease agreements respecting the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-57-20.htm - 3K - Match Info - Similar pages
22-21-150
Section 22-21-150 Bonds - Default. (a) In event of default on bonds. If there should be any
default in the payment of the principal of, or interest on, any bonds issued under this article,
then the holder of any of the bonds, and of any of the interest coupons applicable thereto,
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 officers and directors of the
authority with respect to the use of funds for the payment of the bonds 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 bonds so in default; and (3) Regardless of the sufficiency of the security for the
bonds in default and as a matter of right, shall be entitled to the appointment of a receiver:
a. To make lease agreements respecting the project out of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-150.htm - 3K - Match Info - Similar pages
23-7-29
Section 23-7-29 Other financial assistance authorized. (a) The granting of other financial
assistance by the bank shall be authorized by a resolution of the bank. (b) The bank may execute
instruments and enter into financing agreements, including, without limitation, a trust indenture
between the bank and a corporate trustee, which may be the State Treasurer or any bank having
trust powers or any trust company doing business in this state, containing the terms and conditions
as the bank shall determine in connection with the provision of other financial assistance
and securing its obligations with respect to other financial assistance. (c) The bank may
pledge any of its revenues or funds to the payment of other financial assistance provided
by the bank, subject to any prior pledges for outstanding bonds or other financial assistance
of the bank and, in the case of those revenues described in subdivisions (1) and (2) of subsection
(a) and subsection (b) of Section 23-7-6, the pledges by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-7-29.htm - 1K - Match Info - Similar pages
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