Section 33-15-8 – Bonds and Other Obligations – Generally.
Section 33-15-8 Bonds and other obligations – Generally. All bonds issued by the authority shall be signed by the chairman of its board of directors and attested by its secretary-treasurer, and the seal of the authority shall be affixed thereto, and any interest coupons applicable to the bonds of the authority shall be signed by […]
Section 33-15-9 – Bonds and Other Obligations – Contracts to Secure Bonds and Other Obligations.
Section 33-15-9 Bonds and other obligations – Contracts to secure bonds and other obligations. As security for payment of the principal of and interest on bonds issued or obligations assumed by it, the authority may enter into a contract or contracts binding itself for the proper application of the proceeds of bonds and other funds, […]
Section 33-15-10 – Bonds and Other Obligations – Statutory Mortgage Lien.
Section 33-15-10 Bonds and other obligations – Statutory mortgage lien. Any resolution of the board of directors or trust indenture, under which bonds may be issued pursuant to the provisions of this chapter may contain provisions creating a statutory mortgage lien, in favor of the holders of such bonds and of the interest coupons applicable […]
Section 33-15-11 – Bonds and Other Obligations – Use of Proceeds From Sale of Bonds.
Section 33-15-11 Bonds and other obligations – Use of proceeds from sale of bonds. All moneys derived from the sale of any bonds issued by the authority shall be used solely for the purpose or purposes for which the same are authorized and any costs and expenses incidental thereto. Such costs and expenses may include […]
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 33-15-12 – Exemption From Taxation, Etc.
Section 33-15-12 Exemption from taxation, etc. The authority, its income, the property of the authority while owned by it, all bonds issued by the authority, the income from such bonds, conveyances by or to the authority and leases, mortgages and deeds of trust by or to the authority shall be exempt from all taxation in […]
Section 33-10-14 – Powers and Duties Generally.
Section 33-10-14 Powers and duties generally. The commission shall formulate general policy to govern the agency and its activities. The commission has the powers and duties specifically prescribed by this chapter and all other powers necessary or convenient to carry out its responsibilities. (Acts 1973, No. 1064, p. 1779, §16.)
Section 33-12-4 – Election of Officers; Designating Time and Place for Meetings; Compensation and Expenses of Directors.
Section 33-12-4 Election of officers; designating time and place for meetings; compensation and expenses of directors. (a) Upon completion of the membership of the baord and incorporation as provided in Sections 33-12-2 and 33-12-3, the appointees and ex officio members shall meet and organize at Athens, Alabama, elect a chairman, vice-chairman and secretary-treasurer, and set […]
Section 33-10-15 – Certain Powers Enumerated.
Section 33-10-15 Certain powers enumerated. The commission is granted all powers capable of being delegated by the Legislature under the Constitution of the state, including but not limited to authority: (1) To own, construct, operate, maintain and lease docks, wharves, sheds, elevators, pipelines, pumping stations and facilities, storage facilities, housing and food facilities, heliport, locks, […]
Section 33-12-5 – Powers, Duties and Functions.
Section 33-12-5 Powers, duties and functions. The powers, duties and functions of the agency shall be as follows: (1) GENERALLY. The agency a. Shall have perpetual succession in its corporate name. b. May sue and be sued in its corporate name. c. May adopt, use and alter a corporate seal, which shall be judicially noticed. […]