Section 41-10-351 – Definitions.
Section 41-10-351 Definitions. The following terms hereafter used in this article shall have the following respective meanings: (1) AUTHORITY. The public corporation organized pursuant to the provisions of this article. (2) BONDS. The bonds issued under the provisions of this article. (3) COMMISSIONER. The Commissioner of Mental Health. (4) DEPARTMENT. The Department of Mental Health […]
Section 41-10-352 – Authority for Incorporation of Alabama Mental Health Finance Authority; Members.
Section 41-10-352 Authority for incorporation of Alabama Mental Health Finance Authority; members. The Governor, the commissioner, the Director of Finance, the chairman of the oversight committee and the vice-chairman of the oversight committee may become a public corporation with the powers hereinafter provided, by proceeding according to the provisions of Section 41-10-353 of this article. […]
Section 41-10-353 – Application for Authority to Incorporate.
Section 41-10-353 Application for authority to incorporate. To become a corporation, the Governor, the commissioner, the Director of Finance, the chairman of the oversight committee and the vice-chairman of the oversight committee shall present to the Secretary of State of Alabama an application signed by them which shall set forth: (1) the name, official designation, […]
Section 41-10-354 – Certificate of Incorporation; No Fee or Compensation to Secretary of State.
Section 41-10-354 Certificate of incorporation; no fee or compensation 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 proposed in the application, and the Secretary of State shall make and issue to the applicants a certificate of incorporation […]
Section 41-10-355 – Members of Authority; Officers; Payment of Bonds of Authority; Quorum; Vacancies; Compensation; Record of Proceedings and Use Thereof as Evidence; Meetings.
Section 41-10-355 Members of authority; officers; payment of bonds of authority; quorum; vacancies; compensation; record of proceedings and use thereof as evidence; meetings. The applicants named in the application and their respective successors in office shall constitute the members of the authority. The Governor shall be the president of the authority, the commissioner shall be […]
Section 41-10-356 – Powers of Authority.
Section 41-10-356 Powers of authority. The authority shall have the following powers among others specified in this article: (1) To have succession by its corporate name until dissolved as provided in this article; (2) To sue and be sued and to prosecute and defend, at law or in equity, in any court having jurisdiction of […]
Section 41-10-357 – Authorization to Issue Bonds; Limitation on Use of Proceeds.
Section 41-10-357 Authorization to issue bonds; limitation on use of proceeds. For the purpose of acquiring, constructing, installing and equipping mental health facilities, the authority is hereby authorized to issue and sell from time to time its bonds, which bonds may be in the form of interest-bearing bonds or noninterest-bearing bonds. The aggregate principal amount […]
Section 41-10-358 – Form, Terms, Denominations, etc., of Bonds; Limitation on Maturity Date, Redemption.
Section 41-10-358 Form, terms, denominations, etc., of bonds; limitation on maturity date, redemption. The bonds, which may be issued in one or more series, shall be in such forms and denominations and of such tenor and maturities, shall, if issued as interest-bearing bonds, bear such rate or rates of interest payable and evidenced in such […]
Section 41-10-359 – Execution and Delivery of Bonds; Designation of Bonds for Community Facilities.
Section 41-10-359 Execution and delivery of bonds; designation of bonds for community facilities. The bonds shall be signed by the president of the authority and attested by its secretary; provided, that a facsimile of the signatures of both of said officers may be printed or otherwise reproduced on any of the bonds in lieu of […]
Section 41-10-360 – Sale of Bonds at Public Auction; Rejection of Bids; Notice of Sale; Terms and Conditions of Sale; Expenses, Fees, etc.; Recital That Bonds Issued Pursuant to Article.
Section 41-10-360 Sale of bonds at public auction; rejection of bids; notice of sale; terms and conditions of sale; expenses, fees, etc.; recital that bonds issued pursuant to article. Each series of the bonds shall be sold at such time or times as the directors may determine at public sale pursuant to competitive bidding, either […]