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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...
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33-12-5
Section 33-12-5 Powers, duties and functions. The powers, duties and functions of the agency
shall be as follows: (1) GENERALLY. The agency a. Shall have perpetual succession in its corporate
name. b. May sue and be sued in its corporate name. c. May adopt, use and alter a corporate
seal, which shall be judicially noticed. d. May enter into such contracts and cooperative
agreements with the federal, state and local governments, with agencies of such governments,
with private individuals, corporations, associations, trusts and other organizations as the
board may deem necessary or convenient to enable it to carry out the purposes of this chapter,
including the planned, orderly residential development of the area. e. May adopt, amend and
repeal bylaws. f. May appoint such managers, officers, employees, attorneys and agents as
the board deems necessary for the transaction of its business, fix their compensation, define
their duties, require bonds of such of them as the board may...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-12-5.htm - 18K - Match Info - Similar pages
11-89A-12
Section 11-89A-12 Refunding bonds. Any bonds issued or assumed by an authority may from time
to time be refunded by the issuance, by sale or exchange, of refunding bonds payable from
the same or different sources for the purpose of paying all or any part of the principal of
the bonds to be refunded, any redemption premium required to be paid as a condition to the
redemption prior to maturity of any such bonds that are to be so redeemed in connection with
such refunding, any accrued and unpaid interest on the bonds to be refunded, any interest
to accrue on each bond to be refunded to the date on which it is to be paid, whether at maturity
or by redemption prior to maturity, and the expenses incurred in connection with such refunding;
provided, that unless duly called for redemption pursuant to provisions contained therein,
the holders of any such bonds then outstanding and proposed to be refunded shall not be compelled
without their consent to surrender their outstanding bonds for such...
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11-50-264
Section 11-50-264 Issuance, sale, etc., of bonds and refunding bonds of board; terms, denominations,
taxation, etc., thereof; charge, application, etc., of revenues from system to payment of
indebtedness; vesting of title to system in municipality upon payment of all indebtedness.
(a) Any waterworks board which borrows money under the authority of this division may evidence
the loan by revenue bonds in such form and of such tenor and maturities as may be agreed upon
between the lender and the board. Any such bonds so issued may thereafter from time to time
be refunded by the issuance by sale or exchange of refunding bonds at such times and in such
form and of such tenor and maturities as may be agreed on by the board and the holders of
the bonds so refunded if such refunding is by exchange and as may be determined by the board
if such refunding is by sale of refunding bonds. Such waterworks board may restrict the source
of payment of such bonds and the security given therefor to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50-264.htm - 3K - Match Info - Similar pages
11-50-345
Section 11-50-345 Issuance of revenue bonds authorized; form, terms, denominations, etc.; execution,
sale, etc.; disposition of proceeds from sale of bonds; issuance of interim receipts or temporary
bonds. (a) Any board of water and sewer commissioners created under the provisions of this
article is hereby authorized by resolution, at one time or from time to time, to issue revenue
bonds of the board for the purpose of paying all or any part of the cost of any water system
or sewer system or any combination thereof and the cost of any improvements, extensions, and
additions and for the purpose of refunding any bonds or obligations assumed by the board in
connection with the acquisition of such system or systems or part thereof. The principal of
and the interest on such bonds shall be payable solely from the funds provided by this article
for such payment. The bonds of each issue shall be dated, shall bear interest at such rate
or rates not exceeding 10 percent per annum, shall mature...
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23-2-147
Section 23-2-147 Bonds; issuance; forms; procedures, etc. (a) The authority is hereby authorized
to provide by resolution for the issuance of bonds of the authority for any of its corporate
purposes, including the refunding of its bonds. The principal of and the interest on any issue
of such bonds shall be payable solely from, and be secured by a pledge of, tolls and other
revenues of all or any part of the toll road, bridge, or tunnel project financed in whole
or in part with the proceeds of such issue or with the proceeds of bonds refunded or to be
refunded by such issue. The proceeds of any such bonds may be used or pledged for the payment
or security of the principal or of the interest on bonds, and for the establishment of any
or all reserves for such payment or security, or for other corporate purposes as the authority
may authorize in the resolution authorizing the issuance of bonds or in the trust agreement
securing the same. (b) The bonds of each issue shall be dated; shall...
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16-47-95
Section 16-47-95 Acquisition of property for school of medicine; issuance of bonds. The Board
of Trustees of the University of Alabama shall have full power and authority to acquire by
purchase, lease or gift from any city, county or other public or private body, and to maintain,
utilize and operate any personal or real property, whether in the form of hospitals, clinics
or otherwise, deemed to be appropriate and necessary to the maintenance and operation of its
school of medicine, and any such city, county or other public or private body shall have full
power and authority to convey and transfer the said personal and real property accordingly
on such terms as its governing body shall determine. The said board is further given the specific
full power and authority to assume any and all legal obligations lying against the vendor,
lessor or donor by virtue of ownership of property so acquired, and to assume any and all
legal obligations lying against the property so acquired or against...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-47-95.htm - 2K - Match Info - Similar pages
16-65-6
Section 16-65-6 Bonds generally. (a) Issuance of bonds. The authority is authorized and empowered
to issue its bonds from time to time for the purpose of making equipment loans to finance
equipment costs incurred or to be incurred by educational institutions. Such bonds may be
in such aggregate principal amount as the board of directors shall determine to be necessary
to pay the equipment costs included in such financing. The authority may pay from the proceeds
of the sale of its bonds all expenses, including publication and printing charges, attorneys'
fees, financial advisory fees, and other expenses which the board of directors may deem necessary
or advantageous in connection with the authorization, advertisement, sale, execution, and
issuance of its bonds or the making of equipment loans from the proceeds thereof. (b) Source
of payment. All bonds issued by the authority shall be limited obligations of the authority
payable solely from any combination of the following: (1) The...
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41-10-44.6
Section 41-10-44.6 Project obligations generally. (a) Issuance of project obligations. The
authority is authorized and empowered to issue its project obligations from time to time for
the purpose of financing one or more projects in such aggregate principal amount as the board
of directors shall determine to be necessary to provide for all or a portion of the project
costs of the project or projects being financed and to pay the expenses of issuing the project
obligations. (b) Source of payment. All project obligations issued by the authority shall
be limited obligations of the authority payable solely from any combination of the following:
(1) The revenues and receipts of the authority derived from the financing agreement or agreements
entered into by the authority with respect to the project or projects financed by such project
obligations; (2) the income or proceeds realized by the authority under any mortgage or other
security granted to the authority; (3) amounts derived from any...
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11-50A-1
Section 11-50A-1 Definitions. As used in this chapter, the following words shall have the following
meanings unless the context clearly indicates otherwise: (1) AUTHORITY. Alabama Municipal
Electric Authority created pursuant to this chapter and any successor or successors thereto.
(2) BOARD. The board of directors of the authority. (3) BONDS. Any bonds issued by the authority
under the provisions of this chapter, including refunding bonds. (4) BOND ANTICIPATION NOTES.
Short term obligations issued by the authority in anticipation of the issuance of bonds. (5)
COSTS. All costs of acquisition, construction, reconstruction, improvement, equipment, alteration,
repair, or extension of any project; all costs of real and personal property required for
the purposes of any project, including any rights or undivided interest therein; all costs
of easements, franchises, water rights, fees, permits, approvals, licenses, and certificates,
and all costs of securing any permits, approvals, licenses,...
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