Section 22-29-4 – Incorporation – Application.
Section 22-29-4 Incorporation – Application. The Governor, the State Health Officer and the Director of Finance shall present to the Secretary of State of Alabama an application signed by them which shall set forth: (1) The name, official designation and official residence of each of the applicants; (2) The date on which each applicant was […]
Section 22-29-20 – Grants to Local Public Bodies – Plan or Program.
Section 22-29-20 Grants to local public bodies – Plan or program. The plan or program for funding the grant by the authority to a local public body for a project may be any one or more of the following, as shall be approved by the authority: (1) An appropriation by the state. (2) A grant […]
Section 22-29-5 – Incorporation – Certificate of Incorporation.
Section 22-29-5 Incorporation – Certificate of incorporation. When the application has been made, filed and recorded as provided in Section 22-29-4, the Secretary of State shall make and issue to the applicants a certificate of incorporation pursuant to this chapter, under the Great Seal of the State, and shall record the certificate with the application, […]
Section 22-29-21 – Grants to Local Public Bodies – Powers of Local Public Bodies.
Section 22-29-21 Grants to local public bodies – Powers of local public bodies. In order to provide for the funding of the grant by the authority for a project to the local public body, such local public body is hereby authorized and empowered, any existing statute to the contrary notwithstanding, to do and perform any […]
Section 22-29-6 – Members, Officers and Directors; Quorum; Resolutions and Orders.
Section 22-29-6 Members, officers and directors; quorum; resolutions and orders. The applicants named in the application and their respective successors in office shall constitute the members of the authority. The Governor shall be president of the authority, the State Health Officer shall be vice-president of the authority and the Director of Finance shall be the […]
Section 22-29-22 – Taxation Exemption.
Section 22-29-22 Taxation exemption. All bonds of the authority, and the coupons applicable thereto, and the income therefrom and all projects, or parts thereof, and all assets of the authority shall be forever exempt from any and all taxation in the state. (Acts 1971, No. 42, p. 279, §19.)
Section 22-29-7 – Powers.
Section 22-29-7 Powers. The authority shall have the following powers, among others specified in this chapter: (1) To have succession in its corporate name until the principal of and interest on all bonds issued by it shall have been fully paid; (2) To maintain actions and have actions maintained against it and to prosecute and […]
Section 22-29-23 – Dissolution.
Section 22-29-23 Dissolution. When all bonds issued by the authority and all obligations made or assumed by it under the provisions of this chapter shall have been paid in full, the then officers and directors of the authority shall at such time file with the Secretary of State a written statement, subscribed and sworn to […]
Section 22-29-8 – Bonds – Authorization to Issue and Sell; Security for Payment.
Section 22-29-8 Bonds – Authorization to issue and sell; security for payment. For the purpose of providing funds for the state to make grants to local public bodies for a project or projects or for the payment of obligations incurred or a temporary loan made for any of said purposes, the authority is hereby authorized, […]
Section 22-29-9 – Bonds – Procedure for Sale.
Section 22-29-9 Bonds – Procedure for sale. The bonds of the authority may be sold at such time or times as the board of directors may deem advantageous; but unless sold to a local public body or to the United States of America or an agency of the United States of America, such bonds shall […]