Section 23-2-140 – Short Title.
Section 23-2-140 Short title. This article shall be known, and may be cited, as the Toll Road, Bridge and Tunnel Authority Act. (Acts 1980, No. 80-691, p. 1377, §25.)
Section 23-2-141 – Intent and Purpose of Article.
Section 23-2-141 Intent and purpose of article. The purpose of this article is to facilitate vehicular traffic and safety in the state by providing for the construction of modern toll roads, bridges and tunnels in strategic and essential locations, without taxes and without a pledge of the faith and credit of the state. (Acts 1980, […]
Section 23-2-142 – Definitions.
Section 23-2-142 Definitions. As used in this article, the following words and terms shall have the following meanings, respectively, unless the context clearly indicates otherwise: (1) AUTHORITY. The Alabama Toll Road, Bridge, and Tunnel Authority created by this article, or any board, body, or commission succeeding to the principal functions thereof or to which the […]
Section 23-2-143 – Authority Established; Composition; Meetings; Fidelity Bonds; Compensation.
Section 23-2-143 Authority established; composition; meetings; fidelity bonds; compensation. (a) There is hereby established a body corporate and politic with corporate succession, to be known as the “Alabama Toll Road, Bridge and Tunnel Authority.” The authority is hereby constituted an instrumentality exercising public and essential governmental functions and the exercise by the authority of the […]
Section 23-2-144 – Powers of the Authority.
Section 23-2-144 Powers of the authority. (a) The authority shall have the following powers: (1) To adopt bylaws for the regulation of its affairs and the conduct of its business. (2) To adopt an official seal and alter the same at pleasure. (3) To maintain a principal office and branch offices at the place or […]
Section 23-2-145 – Advertisement for Construction Bids; Award of Contract; Work Done by Force Account; Further Considerations by the Authority.
Section 23-2-145 Advertisement for construction bids; award of contract; work done by force account; further considerations by the authority. (a) Before construction is started on any project, the authority shall advertise for sealed bids once each week for three consecutive weeks in a newspaper of general circulation in the county in which the project or […]
Section 23-2-146 – Grade Separations at Intersections; Relocation of Public Highways; Authority to Enter Private Lands to Drill, Survey, etc.; Relocation, etc., of Public Utility Facilities; Procedures; Costs.
Section 23-2-146 Grade separations at intersections; relocation of public highways; authority to enter private lands to drill, survey, etc.; relocation, etc., of public utility facilities; procedures; costs. (a) The authority shall have power to construct grade separations at intersections of any toll road, bridge or tunnel project with public highways and to change and adjust […]
Section 23-2-147 – Bonds; Issuance; Forms; Procedures, Etc.
Section 23-2-147 Bonds; issuance; forms; procedures, etc. (a) The authority is hereby authorized to provide by resolution for the issuance of bonds of the authority for any of its corporate purposes, including the refunding of its bonds. The principal of and the interest on any issue of such bonds shall be payable solely from, and […]
Section 23-2-148 – Refunding Bonds; Purposes.
Section 23-2-148 Refunding bonds; purposes. The authority may provide by resolution for the issuance of refunding bonds for the purpose of refunding any bonds then outstanding which shall have been issued under the provisions of this article, including the payment of any redemption premium thereon and any interest accrued or to accrue to the date […]
Section 23-2-149 – Trust Agreements Securing Bond Issues; Authorized Provisions Protecting Holders; Pledge of Revenues.
Section 23-2-149 Trust agreements securing bond issues; authorized provisions protecting holders; pledge of revenues. In the discretion of the authority, any bonds issued under the provisions of this article may be secured by a trust agreement by and between the authority and a corporate trustee, which may be any trust company, or bank having the […]
Section 23-2-150 – Authority to Collect Tolls, Revenues, etc.; to Lease to Utilities; Toll Rates Adjusted to Conform to Trust Agreement.
Section 23-2-150 Authority to collect tolls, revenues, etc.; to lease to utilities; toll rates adjusted to conform to trust agreement. The authority is hereby authorized to fix, revise, charge, and collect tolls for the use of each toll road, bridge or tunnel project and the different parts or sections thereof, and to contract with, or […]
Section 23-2-151 – Revenues Deemed Trust Funds; Depository Deemed Trustee.
Section 23-2-151 Revenues deemed trust funds; depository deemed trustee. All moneys received pursuant to the authority of this article, whether as proceeds from the sale of bonds or as revenues, shall be deemed to be trust funds to be held and applied solely as provided in this article. The resolution authorizing the bonds of any […]
Section 23-2-152 – Bondholder’s and Trustee’s Rights of Enforcement; Scope of Rights.
Section 23-2-152 Bondholder’s and trustee’s rights of enforcement; scope of rights. Any holder of bonds issued under the provisions of this article, or of any of the coupons appertaining thereto, and the trustee under any trust agreement, except to the extent that the rights herein given may be restricted by such trust agreement, may, by […]
Section 23-2-153 – Exemptions From Levy, Charge, Assessment, Collection, etc., of Certain Taxes; Certificate of Exemption.
Section 23-2-153 Exemptions from levy, charge, assessment, collection, etc., of certain taxes; certificate of exemption. (a) The exercise of the powers granted by this article shall be in all respects for the benefit of the people of the state, for the increase of their commerce and prosperity, and for the improvement of their health and […]
Section 23-2-154 – Bonds Legal Investments for All Purposes; Entitled to Be Deposited With State Officers or Agencies.
Section 23-2-154 Bonds legal investments for all purposes; entitled to be deposited with state officers or agencies. Bonds issued by the authority under the provisions of this article are hereby made securities in which the state and all political subdivisions of this state, their officers, boards, commissioners, departments or other agencies; all banks, bankers, savings […]
Section 23-2-155 – Authority to Maintain Own Toll Roads, Bridges, and Tunnels.
Section 23-2-155 Authority to maintain own toll roads, bridges, and tunnels. Each toll road, bridge and tunnel project when constructed and opened to traffic shall be maintained and kept in good condition and repair by the authority. (Acts 1980, No. 80-691, p. 1377, §15.)
Section 23-2-156 – Rules and Regulations Governing Use of Toll Roads, etc.; Violations; Penalties; Law Enforcement.
Section 23-2-156 Rules and regulations governing use of toll roads, etc.; violations; penalties; law enforcement. (a) The authority is hereby authorized to promulgate reasonable rules and regulations with respect to the use of any toll road, bridge, or tunnel project. The rules and regulations shall relate to vehicular speeds, loads, weights and sizes, safety devices, […]
Section 23-2-157 – Lease, Grant, etc., of County, City, etc., Property to Authority.
Section 23-2-157 Lease, grant, etc., of county, city, etc., property to authority. All counties, cities, towns, and other political subdivisions and all public departments, agencies, and commissions of the State of Alabama, notwithstanding any contrary provision of law, are hereby authorized and empowered to lease, lend, grant, or convey to the authority at its request, […]
Section 23-2-158 – Annual Report to Legislature; Contents; Annual Audit; Expense.
Section 23-2-158 Annual report to Legislature; contents; annual audit; expense. On or before the tenth legislative day of each regular session of the Legislature, the authority shall make a report of its activities for the preceding calendar year to the Legislature. Each report shall set forth a complete operating and financial statement covering its operations […]
Section 23-2-159 – Conflict of Interest; Penalty.
Section 23-2-159 Conflict of interest; penalty. Any member, agent or employee of the authority who is interested, gainfully or pecuniarily, either directly or indirectly, in any contract of the authority, or in the sale of any property, either real or personal, to or by the authority shall be guilty of a misdemeanor, and upon conviction […]