23-1-155
Section 23-1-155 Powers. The corporation shall have all of the following powers: (1) To have perpetual succession by its corporate name unless sooner dissolved pursuant to Section 23-1-160. (2) To maintain actions and have actions maintained against it and to prosecute and defend 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 construct, reconstruct, and relocate, or to cause to be constructed, reconstructed, and relocated, public roads, bridges, and approaches thereto, tunnels, and other public roadway improvements, including work incidental or related thereto, in the State of Alabama. (5) To acquire by purchase, gift or condemnation or any other lawful means and to convey, or cause to be conveyed, any real, personal, or mixed property or materials necessary or convenient in connection with the construction, reconstruction, or relocation of public roads, bridges and approaches...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-1-155.htm - 3K - Match Info - Similar pages
23-1-157
Section 23-1-157 Bonds - Generally. (a) The bonds of the corporation shall be signed by its president or vice president and attested by its secretary; provided, that a facsimile of the signature of the officers may be imprinted or otherwise reproduced on any such bonds in lieu of his or her signing the same. The seal of the corporation shall be affixed to such bonds; provided, that a facsimile of the seal may be imprinted or otherwise reproduced on any such bonds in lieu of being manually affixed thereon. (b) Any bonds of the corporation may be executed and delivered at any time and from time to time, shall be in such form and denominations and of such tenor and maturities, shall bear such rate or rates of interest payable and evidenced in such manner, may contain provisions for redemption prior to maturity and may contain other provisions not inconsistent with this article, all as may be provided by the resolution of the board of directors whereunder such bonds are authorized to be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-1-157.htm - 6K - Match Info - Similar pages
24-1-31
Section 24-1-31 Issuance of bonds by authority; types of and security for bonds generally; liability on bonds. An authority shall have power to issue bonds, from time to time, in its discretion, for any of its corporate purposes. An authority shall also have power to issue or exchange refunding bonds for the purpose of paying, retiring, extending or renewing bonds previously issued by it. An authority may issue such types of bonds as it may determine, including, without limiting the generality of the foregoing, bonds on which the principal and interest are payable from income and revenues of the authority and from grants or contributions from the federal government or some other source. Such income and revenues securing the bonds may be: (1) Exclusively the income and revenues of the housing project financed in whole or in part with the proceeds of such bonds; (2) Exclusively the income and revenues of certain designated housing projects, whether or not they are financed in whole or in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/24-1-31.htm - 2K - Match Info - Similar pages
24-1-70
Section 24-1-70 Issuance of bonds by authority; types of and security for bonds generally; liability on bonds. An authority shall have power to issue bonds from time to time, in its discretion, for any of its corporate purposes. An authority shall also have power to issue or exchange refunding bonds for the purpose of paying, retiring, extending, or renewing bonds previously issued by it. An authority may issue such types of bonds as it may determine, including, without limiting the generality of the foregoing, bonds on which the principal and interest are payable from income and revenues of the authority and from grants or contributions from the federal government or some other source. Such income and revenues securing the bonds may be: (1) Exclusively the income and revenues of the housing project financed in whole or in part with the proceeds of such bonds; (2) Exclusively the income and revenues of certain designated housing projects, whether or not they are financed in whole or in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/24-1-70.htm - 2K - Match Info - Similar pages
8-6-10
Section 8-6-10 Registration of securities - Exempt securities. Sections 8-6-4 through 8-6-9 shall not apply to any of the following securities: (1) Any security, including a revenue obligation, issued or guaranteed by the United States, any state, any political subdivision of a state, any agency, corporate, or other instrumentality of one or more of the foregoing; or any certificate of deposit for any of the foregoing. (2) Any security issued or guaranteed by Canada, any Canadian province, any political subdivision of any province, any agency, corporate, or other instrumentality of one or more of the foregoing or any other foreign government with which the United States currently maintains diplomatic relations if the security is recognized as a valid obligation by the issuer or guarantor. (3) Any security issued by and representing an interest in or a debt of, or guaranteed by, any bank organized under the laws of the United States or any bank, savings institution, or trust company...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-6-10.htm - 7K - Match Info - Similar pages
11-97-10
Section 11-97-10 Security for payment of bonds; contracts and agreements to secure. (a) Bonds issued by any corporation may, as its board may deem advisable, be either general obligations of such corporation or limited obligations payable only out of certain specified revenues or assets of such corporation; provided, that any corporation may enter into contracts with the holders of any of its bonds preventing such corporation from thereafter issuing general obligation bonds or limiting the amount of such bonds that may thereafter be issued. To the extent permitted by any contracts with the holders of outstanding bonds and any other contractual obligations or requirements, any corporation may pledge any of its revenues or mortgage or assign any of its assets, whether real or personal and whether tangible or intangible, to secure the payment of any of its bonds. (b) As security for payment of the principal of and the interest and premium, if any, on any bonds issued or assumed by it, any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-97-10.htm - 8K - 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...
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41-10-754
Section 41-10-754 Powers of the authority. The authority shall have, in addition to all other powers granted to it in this article, all of the following powers: (1) To have succession by its corporate name until dissolved as herein provided. (2) To institute and defend legal proceedings in any court of competent jurisdiction and proper venue; provided, however, that the authority may not be sued in any nisi prius court other than the courts of the county in which is located the principal office of the authority; and provided further that the officers, directors, agents, and employees of the authority may not be sued for actions on behalf of the authority in any nisi prius court other than the courts of the county in which is located the principal office of the authority. (3) To have and to use a corporate seal and to alter the seal at pleasure. (4) To establish a fiscal year. (5) To adopt, and from time to time, amend and repeal, bylaws, rules, and regulations not inconsistent with...
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11-85-107
Section 11-85-107 Bonds - Authentication; redemption; sale; refunding; use of proceeds; security; investment of funds. The bonds of the authority shall be signed by its president and attested by its secretary and the seal of the authority shall be affixed thereto or a facsimile of such seal shall be printed or otherwise reproduced thereon; provided, that a facsimile of the signature of one, but not both, of said officers may be printed or otherwise reproduced on any such bonds in lieu of being manually subscribed thereon and a facsimile of the signatures of both of the officers may be printed or otherwise reproduced on such bonds in lieu of being manually affixed thereof if the authority, in its proceedings with respect to issuance of the bonds, provides for manual authentication of such bonds. The State Treasurer shall be registrar, transfer agent, and paying agent for the bonds. The State Treasurer may designate named individuals who are employees of the state and who are assigned to...
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41-10-625
Section 41-10-625 Powers of the authority. The authority shall have, in addition to all other powers granted to it in this division, all of the following powers: (1) To have succession by its corporate name until dissolved as herein provided. (2) To institute and defend legal proceedings in any court of competent jurisdiction and proper venue; provided, however, that the authority may not be sued in any nisi prius court other than the courts of the county in which is located the principal office of the authority; and provided further that the officers, directors, agents, and employees of the authority may not be sued for actions in behalf of the authority in any nisi prius court other than the courts of the county in which is located the principal office of the authority. (3) To have and to use a corporate seal and to alter the seal at pleasure. (4) To establish a fiscal year. (5) To adopt, and from time to time amend and repeal, bylaws, rules, and regulations not inconsistent with...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-625.htm - 4K - Match Info - Similar pages
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