Section 33-13-9 – Bonds – Generally.
Section 33-13-9 Bonds – Generally. There are hereby authorized to be issued bonds of the state in aggregate principal amount not exceeding $45,000,000.00 for the purpose of paying costs of the development, construction, improvements, expansion and modernization (or any of them) of the State Docks Department at the Port of Mobile. The bonds hereby authorized […]
Section 33-13-10 – Bonds – State Docks Facilities Reserve Fund.
Section 33-13-10 Bonds – State Docks Facilities Reserve Fund. There is hereby created a special fund to be designated the State Docks Facilities Reserve Fund, which shall be held in and constitute a part of the State Treasury and which shall be maintained until the principal of and interest on the bonds (or any refunding […]
Section 33-13-11 – Bonds – Refunding Bonds.
Section 33-13-11 Bonds – Refunding Bonds. The authority may from time to time sell and issue refunding bonds for the purpose of refunding any matured or unmatured bonds then outstanding that were originally issued under this chapter. To the extent they may be applicable, the provisions of this chapter pertaining to the authorization, sale, execution, […]
Section 33-13-12 – Bonds – Disposition of Proceeds; Investments.
Section 33-13-12 Bonds – Disposition of proceeds; investments. The authority shall pay out of the proceeds from the sale of any of the bonds (other than refunding bonds) those expenses which the board of directors may deem necessary or advantageous in connection with the sale or issuance thereof. The proceeds from the sale of all […]
Section 33-13-13 – Bonds – State Treasurer to Pay Principal and Interest of Bonds; Records.
Section 33-13-13 Bonds – State Treasurer to pay principal and interest of bonds; records. The State Treasurer is authorized and directed to pay the principal of and interest on the bonds (or any bonds issued to refund any of the bonds) at the respective maturities of the said principal and interest, out of the special […]
Section 33-13-1 – Definitions.
Section 33-13-1 Definitions. The following words and phrases, wherever used in this chapter, and others evidently intended as the equivalent thereof, shall, in the absence of clear implication otherwise, be given the following respective interpretations herein: (1) AUTHORITY. The public corporation organized pursuant to the provisions of this chapter under the name Alabama Port Authority. […]
Section 33-13-2 – Legislative Intent; Construction of Chapter.
Section 33-13-2 Legislative intent; construction of chapter. It is the intention of the Legislature by the passage of this chapter to implement Constitutional Amendment No. 338 by: (1) Authorizing the issuance of the interest-bearing general obligation bonds of the state provided for in the said constitutional amendment; (2) Providing for the incorporation of a public […]
Section 33-13-3 – Authorization to Form Public Corporation.
Section 33-13-3 Authorization to form public corporation. The Governor, the Director of Finance, one member of the Senate, appointed by the president of the Senate, one member of the House of Representatives, appointed by the Speaker of the House, and the director of the State Docks Department shall become a public corporation with the powers […]
Section 33-13-4 – Procedure for Incorporation.
Section 33-13-4 Procedure for incorporation. To become a corporation, the Governor, the Director of Finance, one member of the Senate, appointed by the president of the Senate, one member of the House of Representatives, appointed by the Speaker of the House and the Director of the State Docks Department shall present to the Secretary of […]
Section 33-13-5 – Certificate of Incorporation; No Fees to Be Paid to Secretary of State.
Section 33-13-5 Certificate of incorporation; no fees to be paid to Secretary of State. When the application has been made, filed and recorded, as herein provided, the applicants shall constitute a public corporation under the name submitted in the application, and the Secretary of State shall make and issue to the applicants a certificate of […]