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41-10-629
Section 41-10-629 Alabama 21st Century Fund. For the benefit of the State of Alabama and the
citizens thereof, there is hereby created a special fund named the "Alabama 21st Century
Fund" which shall be funded with tobacco revenues and administered in accordance with
this division. The following amounts shall be retained in the special fund in the following
fiscal years and shall be used to pay principal, interest, and premium, if any, due on bonds
issued by the authority. Fiscal Year Amount to be Retained 2000 $7,000,000 2001 9,000,000
2002 11,000,000 2003-2017 13,000,000 2018 and thereafter 16,000,000 Pending the use of revenues
in the special fund for the payment of debt service on the bonds, such revenues shall be invested
by the State Treasurer in permitted investments until such revenues are needed for such purposes.
Earnings on such permitted investments shall remain a part of the special fund. For the fiscal
year ended September 30, 2015, twenty million dollars ($20,000,000)...
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41-10-621
Section 41-10-621 Legislative findings and purpose. (a) The Legislature finds and declares
the following: (1) The State of Alabama has a great need from time to time to have access
to financing for economic development and industrial recruitment that does not involve improvements
to revenue-producing facilities. (2) It is desirable and in the public interest to establish
a state-level authority with the power to issue bonds for such general purposes. (3) The Alabama
Supreme Court has held, in effect, that only when the debt of a public corporation is payable
out of a new revenue source will such debt not be considered a debt of the state in contravention
of Section 213 of the Constitution of Alabama of 1901; the State of Alabama expects to receive
in the near future new revenues from the settlement of certain litigation between the state
and the tobacco industry. (4) By the passage of this division, it is the intention of the
Legislature to: a. Provide for the creation of a special...
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22-35-5
Section 22-35-5 Fee; withdrawals; disposition of funds; liability for clean-up costs; audit.
(a) Every owner of an underground or aboveground storage tank as defined in this chapter shall
pay an Underground and Aboveground Storage Tank Trust Fund fee as established by the provisions
of this chapter to be paid to the department. During the first year next following October
1, 1988, the amount of the annual Underground and Aboveground Storage Tank Trust Fund fee
shall be one hundred dollars ($100). Thereafter, the commission, upon recommendation of the
management board, shall set such an amount not to exceed one hundred fifty dollars ($150)
per year per regulated tank. Should the fund become depleted due to claims being greater than
amounts provided by tank fees, the commission shall be empowered to make special assessments
of tank fees to protect the financial integrity of the fund. Provided the total tank fees
and special assessments for any fiscal year do not exceed one hundred fifty...
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45-36-252.06
Section 45-36-252.06 Bonds of the authority; obligations. (a) In addition to all other powers
now or hereafter granted by law, the authority shall have the following powers, together with
all powers incidental thereto or necessary to the discharge thereof in corporate form: (1)
To sell and issue bonds of the authority in order to provide funds for any corporate function,
use, or purpose, any such bonds to be payable solely out of one or more of the following:
a. Any or all proceeds or receipts from the privilege, license, or excise tax levied on the
sale, distribution, storage, use, or consumption of tobacco and certain tobacco products in
Jackson County by Section 45-36-247. b. Any or all proceeds from any tax received by the Jackson
County Commission which are required by law to be deposited to the credit of the Jackson County
Water Authority. c. The revenues derived from any water, sewer, or garbage system or facility
of the authority. (2) To pledge for payment of any bonds issued...
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41-10-638
Section 41-10-638 Transfers from the special fund. (a) All monies in the special fund in excess
of the monies to be retained therein as provided in Section 41-10-629 shall be immediately
transferred by the authority as follows: (1) Anything in Act 98-382, now appearing in Sections
41-15B-1 to 41-15B-4, inclusive, to the contrary notwithstanding, tobacco revenues in the
following amounts received in each of the following fiscal years by the State of Alabama,
beginning in the fiscal year ending September 30, 2000, shall be transferred from the special
fund to the Children First Trust Fund to be appropriated by the Legislature, upon the recommendation
of the Governor, for programs authorized by the Children First Act: Amount Fiscal Year up
to $60,000,000 2000 up to $65,000,000 2001 up to $70,000,000 2002 and each fiscal year thereafter
(2) An amount up to $2,000,000 shall be transferred beginning in the fiscal year ending September
30, 2000, and each fiscal year thereafter to the Alabama...
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40-13-6
Section 40-13-6 Distribution of tax proceeds. (a) In each fiscal year when the funds then on
deposit in the special fund or funds created for retirement of the bonds equal the amount
needed to pay all the principal and interest becoming payable on the bonds within the succeeding
12 months and the funds then on deposit in the reserve fund or funds created for the bonds
equal the maximum principal and interest becoming due on the bonds in any one year, the severance
tax proceeds remaining in the Alabama State Docks Bulk Handling Facility Trust Fund, shall
be distributed as provided herein; provided however, that if at the end of any fiscal year
of the state, beginning with the fiscal year ending September 30, 1987, the Director of the
Alabama State Docks Department shall have notified the Director of Finance in writing, at
least five days prior to the close of the fiscal year, that the revenues to be derived by
the Alabama State Docks Department from the operations of its coal handling...
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29-9-2
Section 29-9-2 Definitions. For the purposes of this chapter, the following terms shall have
the following meanings: (1) ALABAMA TRUST FUND. The Alabama Trust Fund created by Amendment
No. 450 to the Constitution of Alabama of 1901. (2) EDUCATION TRUST FUND. An account in the
State Treasury into which are deposited certain revenues paid to the State of Alabama that
are earmarked or set aside for appropriation for public educational purposes. (3) EDUCATION
TRUST FUND RAINY DAY ACCOUNT. The special account created within the Alabama Trust Fund by
Amendment No. 803 to the Constitution of Alabama of 1901. (4) FISCAL YEAR. The fiscal year
of the State of Alabama that begins on October 1 and ends on September 30. (5) FISCAL YEAR
APPROPRIATION CAP. The maximum amount of appropriations that may be made from the Education
Trust Fund for any fiscal year pursuant to this chapter. (6) NEW RECURRING REVENUE. Revenue
of any kind or type constituting a new annual source of money that has been...
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41-10-757
Section 41-10-757 Disposition of proceeds of bonds. (a) The authority is authorized and empowered
to apply the proceeds of any bonds and any other funds belonging to the authority for any
of the following purposes or uses: (1) For the purposes for which the bonds were authorized
to be issued, in the following order: a. To repay the General Fund Rainy Day Account for the
$161,565,874 transferred to the State General Fund in fiscal year 2010 pursuant to Amendment
803 to the Constitution of Alabama of 1901. b. To repay a total of $238,434,126 to the Alabama
Trust Fund for amounts transferred to the State General Fund in fiscal years 2013, 2014, and
2015 pursuant to Section 4 of Amendment 856 to the Constitution of Alabama of 1901. c. To
provide one hundred twenty million dollars ($120,000,000) to the Alabama Medicaid Agency to
be distributed fifteen million dollars ($15,000,000) in fiscal year 2017 and one hundred five
million dollars ($105,000,000) in fiscal year 2018. The Alabama...
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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...
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40-25-23
Section 40-25-23 Disposition of funds. All revenues collected under the provisions of this
article, except as otherwise provided, shall be paid to the Department of Revenue by check
or draft made payable to the Treasurer of Alabama, and shall be distributed in the following
manner: (1) All of the revenue derived from the tax levied upon cigarettes by Sections 40-25-2
and 40-25-41 shall be deposited in the State Treasury and 38.82 percent of such revenue shall
be divided as follows: a. Six and six one-hundredths percent to the credit of the State Public
Welfare Trust Fund, which is hereby appropriated for general welfare purposes. In this section,
"general welfare purposes" means: 1. The administration of public assistance as
set out in Sections 38-2-5 and 38-4-1; 2. Services, including supplementation and supplementary
services under the federal Social Security Act, to or on behalf of persons to whom such public
assistance may be given under Section 38-4-1; 3. Services to and on behalf...
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