|
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-65-6.htm - 7K - Match Info - Similar pages
2-3A-54
Section 2-3A-54 Expenses; disposition of proceeds. Upon order of the board of directors of
said authority, all expenses incurred in connection with the authorization, preparation, sale,
and issuance of bonds authorized herein and by Amendment 619 shall be paid out of the proceeds
thereof. The proceeds thereof remaining after payment of such expenses, together with the
income derived from the investment and reinvestment of such proceeds (including income derived
from the investment and reinvestment of previously derived income) shall be disbursed from
time to time on the order of said authority for payment of costs incurred in carrying out
the purposes authorized in said amendment, as follows: The sum of five million seven hundred
thousand dollars ($5,700,000) shall be used for the purpose of providing and the equipping
of a center for cotton, cotton products technology, and for its use as an educational, applied
research, and promotional facility in the field of textile and apparel...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-3A-54.htm - 2K - Match Info - Similar pages
11-88-7.1
Section 11-88-7.1 Additional powers. (a) Any authority organized or operating pursuant to Chapter
88 of Title 11 shall, in addition to all other powers now or hereafter granted by law, have
the following powers and rights: (1) To borrow money for temporary use for any of its corporate
purposes and, in evidence of such borrowing, to issue from time to time revenue bonds or notes
maturing not later than 36 months from the date of issuance. Any such temporary borrowing
may be made in anticipation of the sale and issuance of long-term revenue bonds, and in such
event, the principal proceeds from the sale of such long-term revenue bonds shall, to the
extent necessary, be used for payment of the principal of and the interest on the temporary
revenue bonds or notes issued in anticipation of the sale and issuance of such long-term revenue
bonds. Any such temporary borrowing may also be made with respect to a project simultaneously
with or after the sale and issuance of long-term revenue bonds...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-88-7.1.htm - 5K - Match Info - Similar pages
11-58-9
Section 11-58-9 Bonds - Disposition of proceeds from sale. (a) The proceeds from the sale of
any bonds issued by a corporation organized under authority of this chapter shall be applied
only for the purpose for which the bonds were issued; provided, however, that any accrued
interest and premium received in any such sale shall be applied to the payment of the principal
of or the interest on the bonds sold; provided further, that if for any reason any portion
of such proceeds shall not be needed for the purpose for which the bonds were issued, then
such unneeded portion of said proceeds shall be applied to the payment of the principal of
or the interest on said bonds. (b) The cost of acquiring any medical clinic, which shall be
paid from the proceeds derived from the sale of bonds, shall be deemed to include the following:
(1) The actual cost of the construction of any part of a building which may be constructed,
including architect's and engineer's fees; (2) The purchase price of any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-58-9.htm - 1K - Match Info - Similar pages
11-20-7
Section 11-20-7 Bonds - Disposition of proceeds from sale. The proceeds from the sale of any
bonds issued under authority of this article shall be applied only for the purpose for which
the bonds were issued; provided, however, that any accrued interest and premium received in
any such sale shall be applied to the payment of the principal of or the interest on the bonds
sold; and provided further, that if for any reason any portion of such proceeds shall not
be needed for the purpose for which the bonds were issued, then such unneeded portion of said
proceeds shall be applied to the payment of the principal of or the interest on said bonds.
The cost of acquiring any project shall be deemed to include the following: the actual cost
of the construction of any part of a project which may be constructed, including architect's
and engineer's fees; the purchase price of any part of a project that may be acquired by purchase;
all expenses in connection with the authorization, sale and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-20-7.htm - 1K - Match Info - Similar pages
11-92A-16
Section 11-92A-16 Use of bonds, proceeds, etc. (a) The proceeds from the sale of any bonds
shall be applied as provided in the proceedings in which the bonds are authorized to be issued,
including without limitation, the payment of all legal, fiscal, and recording fees and expenses
incurred in connection with the authorization, sale, and issuance of the bonds and, if so
provided in the proceedings authorizing their issuance, interest on said bonds (or if only
a part of any issue of bonds is issued for acquisition purposes, interest on that portion
of the bonds of that issue that is issued to pay acquisition costs) for a reasonable period
prior to and during the time required for the acquisition, construction, and equipping of
the project. An authority may provide in the proceedings authorizing the issuance of bonds
for the funding of a debt service reserve and/or a replacement and extension reserve from
the proceeds of its bonds. (b) All contracts made by an authority and all bonds...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-92A-16.htm - 3K - Match Info - Similar pages
11-101A-21
Section 11-101A-21 Exemption from taxation. All properties of an authority, whether real, personal,
or mixed, and the income therefrom, all securities issued by an authority and the income therefrom,
and all indentures and other instruments executed as security therefor, all leases made pursuant
to this chapter and all revenues derived from such leases, and all deeds and other documents
executed by or delivered to an authority shall be exempt from any and all taxation by the
state, or by any county, municipality, or other political subdivision of the state, including,
but without limitation to, license and excise taxes imposed in respect of the privilege of
engaging in any of the activities in which an authority may engage. An authority shall not
be obligated to pay or allow any fees, taxes, or costs to the judge of probate of any county
in respect of its incorporation, the amendment of its certificate of incorporation, or the
recording of any document. The gross proceeds of the sale...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-101A-21.htm - 2K - Match Info - Similar pages
33-2-69
Section 33-2-69 Disposition of proceeds from sale of bonds. The proceeds from the sale of any
of the bonds (other than refunding bonds) shall be paid into the State Treasury and kept by
the State Treasurer in a separate account and paid over to the secretary-treasurer of the
department from time to time in such amounts as shall be directed by the Governor, and the
money so paid over to the secretary-treasurer of the department shall be held and used only
for the accomplishment of the purposes of this article, and specifically for payment of the
cost of acquiring, by construction or otherwise, maintaining and operating, or any of them,
dock facilities along navigable streams and waterways now or hereafter existing within the
state, in aid of commerce and use of navigable waterways of the state. The cost of acquiring
any dock facilities that may be acquired with the proceeds of bonds issued under this article
shall be deemed to include, inter alia, (1) fees of engineers and attorneys and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-2-69.htm - 1K - Match Info - Similar pages
33-2-99
Section 33-2-99 Disposition of proceeds from sale of bonds. The proceeds from the sale of any
of the bonds (other than refunding bonds) shall be paid into the State Treasury and kept by
the State Treasurer in a separate account and paid over to the secretary-treasurer of the
department from time to time in such amounts as shall be directed by the Governor and the
money so paid over to the secretary-treasurer of the department shall be held and used only
for the accomplishment of the purposes of this article, and specifically for payment of the
cost of acquiring, by construction or otherwise, maintaining and operating, or any of them,
dock facilities along navigable streams and waterways now or hereafter existing within the
state, in aid of commerce and use of navigable waterways of the state. The cost of acquiring
any dock facilities that may be acquired with the proceeds of bonds issued under this article
shall be deemed to include, inter alia, (1) fees of engineers and attorneys and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-2-99.htm - 1K - Match Info - Similar pages
22-23A-1
Section 22-23A-1 Definitions. The following words and phrases, whenever used in this chapter,
shall have the following respective meanings unless the context clearly indicates otherwise:
(1) AUTHORITY. The corporation organized pursuant to the provisions of this chapter as a public
corporation, agency and instrumentality of the state and known as the "Alabama Water
System Assistance Authority." (2) AUTHORIZING RESOLUTION. A resolution or order adopted
by the board of directors of the authority authorizing the issuance of bonds by the authority
pursuant to this chapter. (3) BOARD OF DIRECTORS. The board of directors of the Alabama Water
System Assistance Authority. (4) BONDS. The "Water System Assistance Bonds," notes
or obligations or other evidences of indebtedness issued by the authority under the provisions
of this chapter. (5) BOND PROCEEDS. The direct proceeds of sale of bonds or notes, and the
income derived from the investment of such proceeds. (6) COMMUNITY WATER SYSTEM. A...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-23A-1.htm - 1K - Match Info - Similar pages
|