Section 33-17-9 – Contracts.
Section 33-17-9 Contracts. The aggregate monetary obligation that the authority may incur in connection with its contracts shall not at any time exceed the sum of (1) Any uncommitted or unencumbered moneys then appropriated to the authority by the Legislature, and (2) Any uncommitted or unencumbered proceeds of bonds available or to become available from […]
Section 33-17-10 – Delegation of Duties, etc., to Other Public Corporations, Agencies and Departments of State.
Section 33-17-10 Delegation of duties, etc., to other public corporations, agencies and departments of state. Any duties and obligations of the authority which shall be delegated by the board of directors of the authority to the Highway Department, the State Docks Department or any other public corporation, agency or department of the state shall be […]
Section 33-17-11 – Authority of State Docks Department.
Section 33-17-11 Authority of State Docks Department. In connection with the navigational use of the waterway, the State Docks Department is hereby authorized to provide and maintain suitable and adequate river and canal terminals in accordance with plans approved by the Secretary of the Army of the United States and the Chief of Engineers of […]
Section 33-17-12 – Bonds – Generally.
Section 33-17-12 Bonds – Generally. There are hereby authorized to be issued bonds of the state in aggregate principal amount not exceeding $10,000,000.00. The bonds hereby authorized shall be general obligations of the state, and the full faith and credit of the state are hereby irrevocably pledged for the prompt and faithful payment of the […]
Section 33-17-13 – Bonds – Disposition of Proceeds; Investments.
Section 33-17-13 Bonds – Disposition of proceeds; investments. The authority shall pay out of the proceeds from the sale of any of the bonds all expenses which the board of directors may deem necessary or advantageous in connection with the sale and issuance of the bonds. The proceeds from the sale of all bonds, other […]
Section 33-17-14 – Bonds – State Treasurer to Pay Principal and Interest of Bonds; Records.
Section 33-17-14 Bonds – State Treasurer to pay principal and interest of bonds; records. Out of any funds in the State Treasury that may be available for such purpose, the State Treasurer is authorized and directed to pay the principal of and interest on the bonds at the respective maturities of the said principal and […]
Section 33-17-15 – Dissolution of Authority.
Section 33-17-15 Dissolution of authority. At any time when no duties or obligations of the authority shall remain to be discharged, or when all duties and obligations remaining to be discharged shall have been effectively delegated to public corporations, agencies and departments of the state in accordance with Section 33-17-10, the authority may be dissolved […]
Section 33-17-1 – Definitions.
Section 33-17-1 Definitions. The following words and phrases used in this chapter, and others evidently intended as the equivalent thereof, shall, in the absence of clear implication herein otherwise, be given the following respective interpretations herein: (1) AUTHORITY. The public corporation organized pursuant to the provisions of this chapter. (2) BOARD. The board of directors […]
Section 33-17-2 – Legislative Intent; Construction of Chapter.
Section 33-17-2 Legislative intent; construction of chapter. The Legislature hereby makes the findings of facts and declaration of intent hereinafter set forth in this section. The construction of a navigable waterway between Demopolis, Alabama and the Tennessee River, utilizing the channel of the Tombigbee River, would provide a new transportation route of great importance and […]
Section 33-17-3 – Authorization to Form Public Corporation.
Section 33-17-3 Authorization to form public corporation. The Governor, the Lieutenant Governor, the Speaker of the House of Representatives of the State Legislature, the Director of Finance, the Highway Director and the Director of the State Docks Department may become a public corporation, with the powers hereinafter provided, by proceeding according to the provisions of […]