Section 16-65-2 – Legislative Intent.
Section 16-65-2 Legislative intent. (a) It is the intent of the Legislature by passage of this chapter to enable the state, acting by and through the authority, to aid educational institutions in the financing of capital equipment on a tax-exempt basis. To this end, the Legislature intends to authorize the authority to issue bonds for […]
Section 16-66-4 – Meetings.
Section 16-66-4 Meetings. This section was amended and renumbered by Act 2015-450, effective June 11, 2015. It is now Section 41-29-293. (Act 2014-16, p. 50, §4.)
Section 16-65-3 – Definitions.
Section 16-65-3 Definitions. The following terms shall have the following meanings, respectively: (1) AUTHORITY. The Alabama Higher Education Equipment Loan Authority created by this chapter and any successor or successors thereto. Any change in name or composition of the authority shall in no way affect the vested rights of any person under the provisions of […]
Section 16-66-5 – Terms of Members; Vacancies.
Section 16-66-5 Terms of members; vacancies. This section was amended and renumbered by Act 2015-450, effective June 11, 2015. It is now Section 41-29-294. (Act 2014-16, p. 50, §5.)
Section 16-65-4 – Creation of Authority; Members, Organization, Etc.
Section 16-65-4 Creation of authority; members, organization, etc. There is hereby created a public body corporate and politic to be known as Alabama Higher Education Equipment Loan Authority. The authority shall not be a state institution nor a department or agency of the state, but shall be an instrumentality of purely public charity performing an […]
Section 16-66-6 – Annual Report.
Section 16-66-6 Annual report. This section was amended and renumbered by Act 2015-450, effective June 11, 2015. It is now Section 41-29-295. (Act 2014-16, p. 50, §6.)
Section 16-65-5 – Powers of Authority.
Section 16-65-5 Powers of authority. The authority shall have all of the following powers: (1) To adopt an official seal and alter the same at its pleasure. (2) To sue and be sued in contract and in tort and to complain and defend in all courts of law and equity. (3) To maintain an office […]
Section 16-66-7 – Reimbursement for Expenses.
Section 16-66-7 Reimbursement for expenses. This section was amended and renumbered by Act 2015-450, effective June 11, 2015. It is now Section 41-29-296. (Act 2014-16, p. 50, §7.)
Section 16-65-6 – Bonds Generally.
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 […]
Section 16-66-8 – Duties of Council.
Section 16-66-8 Duties of council. This section was amended and renumbered by Act 2015-450, effective June 11, 2015. It is now Section 41-29-297. (Act 2014-16, p. 50, §8.)