|
33-2-67
Section 33-2-67 General provisions relative to additional inland waterways improvement bonds.
In order to provide funds for the purposes of this article, there are hereby authorized to
be sold and issued bonds of the state not exceeding $1,500,000.00 in aggregate principal amount,
under and subject to the provisions hereinafter set forth. The bonds shall be designated as
inland waterway improvement bonds of the state. The bonds shall be general obligations of
the state, for payment of the principal of and interest on which the full faith and credit
of the state are hereby irrevocably pledged. The bonds may be issued from time to time in
one or more series, shall bear an appropriate series designation, shall be in such form and
denominations and of such tenor and maturities, shall bear such rate or rates of interest
payable in such manner, may contain provisions for redemption prior to maturity, and may contain
other provisions not inconsistent herewith, all as shall be set forth in an...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-2-67.htm - 4K - Match Info - Similar pages
33-2-97
Section 33-2-97 General provisions relative to additional inland waterways improvement bonds.
In order to provide funds for the purposes of this article, there are hereby authorized to
be sold and issued bonds of the state not exceeding $2,000,000.00 in aggregate principal amount,
under and subject to the provisions hereinafter set forth. The bonds shall be designated as
inland waterway improvement bonds of the state. The bonds shall be general obligations of
the state, for payment of the principal of and interest on which the full faith and credit
of the state are hereby irrevocably pledged. The bonds may be issued from time to time in
one or more series, shall bear an appropriate series designation, shall be in such form and
denominations and of such tenor and maturities, shall bear such rate or rates of interest
payable in such manner, may contain provisions for redemption prior to maturity, and may contain
other provisions not inconsistent herewith, all as shall be set forth in an...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-2-97.htm - 4K - Match Info - Similar pages
45-29-90.09
Section 45-29-90.09 Bonds authorized. The authority may: (1) Sell and issue its bonds from
time to time in order to provide funds for any corporate function, use, or purpose, all such
bonds to be payable solely out of the revenues derived from the facilities and other property
of the authority or out of the revenues of any particular facilities and other property of
the authority; and (2) Secure such bonds by a pledge of all or any of the revenues which may
now or hereafter come to the authority from any source, by a mortgage or deed of trust covering
the authority's land or any part thereof, or under the provisions of a trust indenture, or
by a combination of one or more thereof; provided, that all obligations created or assumed
and all bonds issued by the authority shall be solely and exclusively obligations of the authority
and shall not create an obligation or debt of the state or of any county or municipality.
(Act 91-277, p. 517, §10.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-29-90.09.htm - 1K - Match Info - Similar pages
16-16-8
Section 16-16-8 Authority empowered to sell and issue bonds for construction, etc., of facilities
for public educational purposes; procedure for letting contracts. (a) The authority is hereby
authorized from time to time to sell and issue its bonds, not exceeding $116,000,000.00 in
aggregate principal amount, for the purpose of providing funds for construction, reconstruction,
alteration and improvement of buildings and other facilities for public educational purposes
in the state, including the procurement of sites and equipment therefor, and for payment of
obligations incurred for any such purpose. The cost of construction, reconstruction, alteration
and improvement of any such buildings or other facilities shall be deemed to include fees
for services rendered by architects and building inspectors in connection therewith. (b) All
contracts involving the expenditure of any funds derived by a county or city board of education
under this chapter shall be let on competitive bids in the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-16-8.htm - 1K - Match Info - Similar pages
22-21-152
Section 22-21-152 Investment of funds. (a) Any portion of the principal proceeds derived from
the sale of the bonds which the board may determine is not presently needed for any of the
purposes for which the bonds are authorized to be issued, and any other moneys of the authority
which the board may determine will not be presently needed by the authority may, on order
of the board, be invested in: (1) Any securities that are direct general obligations of the
United States of America or the principal of and interest on which are unconditionally and
irrevocably guaranteed by the United States of America; (2) Any debt securities that are direct
obligations of any agency of the United States of America; (3) Interest-bearing bank time
deposits and interest-bearing bank certificates of deposit; and (4) Interest-bearing time
deposits and interest-bearing certificates of deposit of any federally-chartered savings and
loan association. (b) Any securities, time deposits or certificates of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-152.htm - 1K - Match Info - Similar pages
22-3A-14
Section 22-3A-14 Refunding bonds. (a) Any bonds issued by the authority under this chapter
may from time to time thereafter be refunded by the issuance of refunding bonds of the authority;
provided, however, that no refunding bonds shall be issued unless the present value of all
debt service on the refunding bonds (computed with a discount rate equal to the true interest
rate of the refunding bonds and taking into account all underwriting discount and other issuance
expenses) shall not be greater than 95 percent of the present value of all debt service on
the bonds to be refunded (computed using the same discount rate and taking into account the
underwriting discount and other issuance expenses originally applicable to such bonds) determined
as if such bonds to be refunded were paid and retired in accordance with the schedule of maturities
(considering mandatory redemption as a scheduled maturity) provided at the time of their issuance.
Provided further that the average maturity of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-3A-14.htm - 4K - Match Info - Similar pages
41-10-363
Section 41-10-363 Refunding bonds; proceeds of sale of refunding bonds. Any bonds issued by
the authority under this article may from time to time thereafter be refunded by the issuance
of refunding bonds of the authority. Any such refunding bonds may be issued whether the bonds
to be refunded shall have then matured or shall thereafter mature, and such refunding may
be effected either by sale of the refunding bonds and the applications of the proceeds thereof
to the payment or redemption of the bonds so refunded or by exchange of the refunding bonds
for those to be refunded thereby; provided, that the holders of any bonds so to be refunded
shall not be compelled without their consent to surrender their bonds for payment or exchange
prior to the date on which they are payable or, if they are called for redemption, prior to
the date on which they may be redeemed by the authority according to their terms. Any refunding
bonds may be issued in such aggregate principal amount as the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-363.htm - 2K - Match Info - Similar pages
11-57-22
Section 11-57-22 Investment of funds of authorities. Any portion of the principal proceeds
derived from the sale of the bonds which the board may determine is not presently needed for
any of the purposes for which the bonds are authorized to be issued and any other moneys of
the authority which the board may determine will not be presently needed by the authority
may, on order of the board, be invested in any securities that are direct obligations of the
United States of America or the principal of and interest on which are unconditionally and
irrevocably guaranteed by the United States of America. Any securities in which any such investment
is made may, at any time and from time to time on order of the board, be sold or otherwise
converted into cash. The income derived from any such investments shall be disbursed on order
of the board for any purpose for which the authority may lawfully expend funds. (Acts 1961,
No. 895, p. 1407, §17; Acts 1961, Ex. Sess., No. 289, p. 2335, §17.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-57-22.htm - 1K - Match Info - Similar pages
23-1-301
Section 23-1-301 Definitions. When used in this article, the following words and phrases shall
have the following respective meanings unless the context clearly indicates otherwise: (1)
AUTHORITY. The Alabama Federal Aid Highway Finance Authority, a public corporation and instrumentality
of the state authorized to be organized under the provisions of this article. (2) BOARD OF
DIRECTORS. The board of directors of the authority. (3) BONDS. The bonds, including refunding
bonds issued to refund outstanding obligations, that in this article are authorized to be
sold and issued by the authority. (4) CORPORATION. The authority. (5) HIGHWAY GASOLINE TAX.
The excise tax levied under subdivision (1) of subsection (a) of Section 40-17-325, with the
exception of those portions of the tax levied on aviation fuel and marine gasoline. (6) LEGISLATURE.
The Legislature of Alabama. (7) NET GASOLINE TAX PROCEEDS. The entire proceeds from the highway
gasoline tax less the cost of collection and less any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-1-301.htm - 4K - Match Info - Similar pages
11-50A-7
Section 11-50A-7 Tax exemptions; payments in lieu of taxes. All bonds, bond anticipation notes,
and notes issued by the authority, the interest thereon, and the income therefrom shall be
forever exempt from all taxation in the state. All income of the authority, all obligations,
lease agreements, and mortgages of the authority, all conveyances by or to the authority,
and all lien notices or other filings with respect to the property of the authority and the
transfer thereof shall be forever exempt from any and all taxation in the state. The purchase,
sale, or use of property by the authority shall be exempt from all sales, use, and license
taxes levied by the state and all political subdivisions of the state. All property of the
authority shall be exempt from ad valorem property taxation. Nevertheless, the authority,
or any agent of the authority designated for the purpose of constructing, maintaining, or
operating any project of the authority, shall pay to any validly constituted...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50A-7.htm - 3K - Match Info - Similar pages
|