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45-46A-40
Section 45-46A-40 Linden Gas Investment Trust Fund. (a) There is hereby established in the
treasury of the City of Linden, Alabama, in Marengo County, a special investment fund to be
known as the Linden Gas Investment Trust Fund, hereinafter referred to as the fund. All of
the proceeds derived from the purchase agreement of the Linden city gas system negotiated
between the City of Linden, the City of Linden Utilities Board, and the Alabama Gas Corporation,
and any other funds lawfully granted or appropriated to the fund, shall constitute the corpus
or principal amount of the fund. All monies in the trust fund corpus shall be invested by
the governing body of the City of Linden only in those securities which are deemed legal investments
for fiduciaries as prescribed in Section 19-3-120. (b)(1) Upon the establishment of the fund,
the governing body of the City of Linden is authorized to expend only interest income for
any lawful purpose, and shall not spend or obligate any principal or...
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40-20-50
Section 40-20-50 Collection of severance taxes; deposit into fund; distribution of investment
income; trustees; escrow agents; limitations. Any laws or parts of laws to the contrary notwithstanding,
any annual privilege tax levied upon persons engaging in the business of producing or severing
oil or gas or other hydrocarbons from the soil or waters of this state measured by the gross
value of such oil or gas or other hydrocarbons and which tax is applicable only in a particular
county and under which collections were being made on January 1, 1987, or which shall hereafter
be levied pursuant to legislative act, shall be continued and collected only as herein prescribed:
(1) All revenues collected from such local severance taxes shall, beginning the first day
of the month following August 3, 1987, be paid into the general fund of the county exclusively
for transfer and deposit into a trust fund hereby established until the total sum of $15,000,000
in severance tax revenues of the type...
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45-37A-411
Section 45-37A-411 Sale of gas and water distribution systems; trust fund. (a) In the event
the Utilities Board of the City of Pleasant Grove or the City of Pleasant Grove should receive
proceeds from the sale of its gas and water distribution systems, there shall be established
an investment fund named Pleasant Grove Gas and Water Systems Sale Investment Fund. This fund
shall receive money from other sources in addition to that received from the sale of the gas
and water systems. (b) The trust fund shall be invested in any legal investments authorized
by state law, including securities, warrants, bonds, bank accounts, and other investments
that have been declared as legal investments for publicly held funds. The interest in the
trust fund may be expended or used for any lawful purpose. Up to 10 percent of the principal
in the trust fund may be expended each year for the purchase, repair, and replacement of municipal
infrastructure and equipment. All expenditures from the fund shall be...
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45-2-245.20
Section 45-2-245.20 Trust fund established; administration. (a) Any laws or parts of laws to
the contrary notwithstanding, any annual privilege tax levied upon persons engaging in the
business of producing or severing oil or gas or other hydrocarbons from the soil or waters
of Baldwin County measured by the gross value of such oil or gas or other hydrocarbons and
which tax is applicable only in Baldwin County and under which collections were being made
on January 1, 1987, shall be continued and collected only as herein prescribed. (1) All revenues
collected from such local severance taxes, shall, beginning the first day of the month following
May 19, 1989, be paid into the general fund of the county exclusively for transfer and deposit
into the trust fund hereby established until the total sum of fifteen million dollars ($15,000,000)
in severance tax revenues of the type described in this section, excluding any interest income
on amounts deposited therein from such total sum, has been...
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36-31-1
Section 36-31-1 Designation and prescription of powers and duties of trustees. Each governing
body in the State of Alabama including the council, commission or similar governing body of
each municipal corporation, the board of directors of each incorporated municipal board, the
county commission of each county, the board of education of each city, the board of education
of each county, the board of directors of each county or municipal hospital, each gas district,
any other county or municipal public corporation, agency or authority and the board of trustees,
board of managers, board of control or similar governing body of each state agency or institution
of education, learning, training or correction or for the delinquent, insane, sick, deaf,
dumb, blind, needy, juvenile or aged, now existing or established after September 16, 1963,
may designate a bank (whether a national bank or banking association or a banking or trust
company operating under the jurisdiction of the Superintendent...
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11-97-2
Section 11-97-2 Definitions. The following words and phrases used in this chapter, and others
evidently intended as the equivalent thereof, shall, in the absence of a clear implication
herein otherwise, be given the following respective interpretations herein: (1) APPLICANT.
A natural person who files a written application with the governing body of any county or
municipality in accordance with the provisions of Section 11-97-3 hereof. (2) AUTHORIZING
RESOLUTION. A resolution of ordinance adopted by the governing body of any county or municipality
in accordance with the provisions of Section 11-97-3 hereof, that authorizes the incorporation
of a corporation. (3) BOARD. The board of directors of a corporation. (4) BONDS. Bonds, notes,
or other obligations representing an obligation to pay money. (5) CORPORATION. Any public
corporation organized pursuant to the provisions of this chapter. (6) COSTS. As applied to
a facility or any portion thereof, shall include all or any part of the...
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11-89A-2
Section 11-89A-2 Definitions. The following words and phrases used in this chapter, and others
evidently intended as the equivalent thereof, shall, in the absence of a clear implication
herein otherwise, be given the following respective interpretations herein: (1) APPLICANT.
A natural person who files a written application with the governing body of any county or
municipality in accordance with the provisions of Section 11-89A-3. (2) AUTHORITY. Any public
corporation organized pursuant to the provisions of this chapter. (3) AUTHORIZING RESOLUTION.
A resolution or ordinance adopted by the governing body of any county or municipality in accordance
with the provisions of Section 11-89A-3, that authorizes the incorporation of an authority.
(4) BOARD. The board of directors of an authority. (5) BONDS. Bonds, notes, or other obligations
representing an obligation to pay money. (6) COSTS. As applied to a facility or any portion
thereof, such term shall include all or any part of the cost of...
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25-4-10
Section 25-4-10 Employment. (a) Subject to other provisions of this chapter, "employment"
means: (1) Any service performed prior to January 1, 1978, which was employment as defined
in this section prior to such date and, subject to the other provisions of this section, services
performed for remuneration after December 31, 1977, including service in interstate commerce,
by: a. Any officer of a corporation; or b. Any individual who, under the usual common law
rules applicable in determining the employer-employee relationship, has the status of an employee;
or c. Any individual other than an individual who is an employee under paragraphs a. or b.
of this subdivision (1) who performs services for remuneration for any person: 1. As an agent-driver
or commission-driver engaged in distributing meat products, bakery products, beverages (other
than milk) or laundry or dry cleaning services for a principal; 2. As a traveling or city
salesman engaged upon a full-time basis in the solicitation on...
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45-9A-40
Section 45-9A-40 Proceeds from sale of gas distribution system. (a) The City of LaFayette has
received proceeds from the sale of its gas distribution system, and all one million nine hundred
twenty thousand dollars ($1,920,000) of such proceeds shall be used to establish an investment
fund named "City of LaFayette Gas System Sale Investment Funds." This fund may receive
money from other sources in addition to that received from the sale of the gas system. (b)
The investment fund shall be invested only in United States securities, or in investments
secured by an agency of the United States government and 90 percent of the annual interest
therefrom shall be available to be spent or used for any lawful purpose. The remaining 10
percent of such interest together with the principal shall remain in the investment fund unless
otherwise approved by a vote of two-thirds of the qualified electors in the City of LaFayette.
If approved by such voters, any portion of the aforesaid investment fund...
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45-27-246.04
Section 45-27-246.04 Distribution of funds from Escambia County Courthouse and County Jail
Trust Fund. The funds received by Escambia County prior to June 1, 1989, from severance tax
or privilege tax on oil and gas under any general law, including Sections 40-20-1 through
40-20-13, or any local law whatsoever, and deposited in the county treasury designated as
the Escambia County Courthouse and County Jail Trust Fund, shall be distributed as follows:
(1) All the interest from such investment shall be deposited in the county general fund. (2)
Up to five hundred thousand dollars ($500,000) of the principal shall be deposited in the
county general fund. (3) The remaining principal shall be deposited as principal into the
Escambia County Oil and Gas Severance Trust as established in Subpart 2. The earned interest
that is generated by this transfer of principal shall be expended according to the provisions
of Subpart 2. (Act 89-270, p. 424, ยง2.)...
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