22-34-6
Section 22-34-6 General powers. (a) The authority shall have the following powers, among others specified by this chapter: (1) To have succession in its corporate name until the principal of an interest on all bonds issued by it shall have been fully paid; (2) To sue and be sued and to prosecute and defend, at law and in equity, in any court having jurisdiction of the subject matter and of the parties thereto; (3) To have and to use a corporate seal and to alter such seal at pleasure; (4) To establish a fiscal year; (5) To acquire in any manner and to hold title to or leasehold interests in real and personal property and to sell, convey or lease the same for purpose of carrying out its functions and duties hereunder; (6) To construct and operate or lease to or from any public body and project; (7) To execute agreements effectively obligating the authority to agree to pay and to pay such portion of the estimated reasonable cost of the project of each public body as may be required to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-34-6.htm - 2K - Match Info - Similar pages
22-3A-15
Section 22-3A-15 Disposition of proceeds of bonds; Public Health Facilities Building Fund; powers of authority; improvement and construction defined; supervision; bidding. (a) The proceeds of the bonds, other than refunding bonds, remaining after paying the expenses of their sale and issuance shall be turned in to the State Treasury and all income derived from the investment of said proceeds (including income from the investment of proceeds held in the Debt Service Reserve Fund to the extent provided in the resolution, trust indenture or other documents pursuant to which the bonds shall be issued) shall be carried in a special fund to be designated the Public Health Facilities Building Fund, and shall be subject to be drawn on by the authority for the purpose of paying the costs of acquiring, constructing, improving and equipping such public health facilities in the state as shall be determined by the authority. Subject to the provisions of Section 22-3A-19, the authority shall have...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-3A-15.htm - 3K - Match Info - Similar pages
24-1A-5
Section 24-1A-5 Powers of authority. The authority shall have the following powers: (1) To have succession by its corporate name until the principal of and interest on the bonds shall have been fully paid and until it shall have been dissolved as provided in this chapter; (2) To sue and be sued and to prosecute and defend in any court having jurisdiction of the subject matter and of the parties thereto; (3) To adopt and use a corporate seal and to alter the seal at pleasure; (4) To establish a fiscal year; (5) To maintain an office in the City of Montgomery; (6) To adopt, and from time to time amend and repeal, bylaws and rules and regulations, not inconsistent with this chapter, to carry into effect the powers and purposes of the authority in the conduct of its business; (7) To purchase mortgage loans from mortgage lenders; (8) To contract with mortgage lenders for the origination of, or the servicing, of mortgage loans to be made by such mortgage lenders and the servicing of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/24-1A-5.htm - 7K - Match Info - Similar pages
41-10-550
Section 41-10-550 Appropriation and pledge of funds for authority obligations. (a) For the purpose of providing funds to enable the authority to pay debt service referable to any bonds issued by it, amounts due on any authority guaranties entered into by it under this division and other obligations incurred by the authority pursuant to this division, and to pay the costs of acquiring, operating, and maintaining any project or other property the authority may own, acquire, or operate and to pay any other costs, expenses, or obligations of the authority, there is irrevocably pledged to such purpose and is appropriated to the authority so much as may be necessary therefor of the appropriated funds. All moneys hereby appropriated and pledged shall be deposited in a special fund maintained by the State Treasurer separate and apart from all other funds under his or her supervision, and the State Treasurer is hereby directed to cause moneys in the special fund to be disbursed solely for the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-550.htm - 4K - Match Info - Similar pages
16-18B-6
Section 16-18B-6 Powers of authority. The corporation shall have the following powers: (1) To have succession by its corporate name without time limit; (2) To sue and be sued and to prosecute and defend, at law or in equity, in any court having jurisdiction of the subject matter and of the parties; (3) To have and to use a corporate seal and to alter the same at pleasure; (4) To acquire, provide, construct, improve, renovate, equip, and maintain, or transfer to public institutions in the state, forensic sciences laboratories and educational facilities for the provision of instruction and research in the field of forensic sciences; (5) To receive, take and hold by sale, gift, lease, devise or otherwise, real and personal estate of every description, and to manage the same; (6) To acquire by purchase, gift, or the exercise of the power of eminent domain, or any other lawful means, and to transfer, convey or cause to be conveyed to the state, any real, personal or mixed property necessary...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-18B-6.htm - 2K - Match Info - Similar pages
41-10-267
Section 41-10-267 Powers of authority. The authority shall have the following powers among others specified in this article: (1) To have succession by its corporate name until dissolved as provided in this article; (2) To sue and be sued and to prosecute and defend, at law or in equity, in any court having jurisdiction of the subject matter and of the parties thereto; (3) To have and to use a corporate seal and to alter the same at pleasure; (4) To make and alter all needful bylaws, rules and regulations for the transaction of the authority's business and the control of its property and affairs; (5) To provide for the acquisition, construction, installation, equipping, operation and maintenance of judicial facilities; (6) To receive, take and hold by sale, gift, lease, devise or otherwise, real and personal property of every description, and to manage the same; (7) To acquire by purchase, gift, or the exercise of the power of eminent domain, or any other lawful means, and to transfer,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-267.htm - 2K - Match Info - Similar pages
41-10-472
Section 41-10-472 Pledge and lien for benefit of bonds. In the proceedings authorizing the issuance of any of its bonds, the authority is authorized and empowered to pledge for the payment of the principal of and interest on such bonds at the respective maturities of said principal and interest, and to agree to use solely for such purpose, all the revenues which under the provisions of Section 41-10-471 are provided for the payment of the said principal and interest, subject to prior pledges thereof as and to the extent the authority may provide. In said proceedings the authority may further provide and create, as security for the payment of said principal and interest, a statutory lien upon the buildings and properties, other than the State Capitol, for the acquisition and construction or renovation of which the bonds are issued. Such statutory lien shall not be subject to foreclosure and, in the event of default in the payment of any such principal or interest, the remedies...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-472.htm - 2K - Match Info - Similar pages
22-3A-7
Section 22-3A-7 Powers of authority. The authority shall have the following powers among others specified in this chapter: (1) To have succession by its corporate name until dissolved as provided in this chapter; (2) To sue and be sued and to prosecute and defend, at law or in equity, in any court having jurisdiction of the subject matter and of the parties thereto; (3) To have and to use a corporate seal and to alter the same at pleasure; (4) To make and alter all needful bylaws, rules and regulations for the transaction of the authority's business and the control of its property and affairs; (5) To provide for the acquisition, construction, installation, equipping, operation and maintenance of public health facilities, including the equipping and improvement of existing public health facilities, and to vest title to such facilities or to cause or permit title to such facilities to be vested in the authority, the State Board of Health or county board(s) of health, as the directors...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-3A-7.htm - 3K - Match Info - Similar pages
23-2-144
Section 23-2-144 Powers of the authority. (a) The authority shall have the following powers: (1) To adopt bylaws for the regulation of its affairs and the conduct of its business. (2) To adopt an official seal and alter the same at pleasure. (3) To maintain a principal office and branch offices at the place or places within the state as it may designate. (4) To sue and be sued in its own name, including suits in tort. (5) With the consent and approval of the department, to acquire and construct toll road, bridge, or tunnel projects at locations as the authority may determine to be desirable, practicable, and economically feasible and to maintain, repair, and operate the projects. (6) To issue toll road, bridge, or tunnel revenue bonds of the authority for any of its corporate purposes, payable solely from its tolls, other revenues, and proceeds of the bonds, and to refund its bonds, all as provided in this article. No bonds issued under the provisions of this article shall constitute a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-2-144.htm - 9K - Match Info - Similar pages
41-10-751
Section 41-10-751 Definitions. When used in this article, the following terms shall have the following meanings, unless the context clearly indicates otherwise: (1) ALABAMA TRUST FUND. The trust fund of the state created under Amendment 450 to the Constitution of Alabama of 1901, and appearing as ยง219.02 of the Official Recompilation of the Constitution of Alabama 1901, as amended. (2) APPROPRIATED FUNDS. The BP settlement revenues deposited in the special fund to the extent such revenues are appropriated to the authority pursuant to Section 41-10-759. (3) AUTHORITY. The Alabama Economic Settlement Authority authorized to be established pursuant to Section 41-10-752. (4) BONDS. Those bonds, including refunding bonds, issued pursuant to this article. (5) BP SETTLEMENT REVENUES. Revenues received by the state in settlement of economic damages claims of the state against BP Exploration and Production, Inc. and any of its corporate affiliates arising out of the Deepwater Horizon oil spill...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-751.htm - 6K - Match Info - Similar pages
|