Section 33-15-1 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 33-15-10 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. 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 33-15-12 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 33-15-13 Monetary contributions by certain counties and municipalities. Marion, Colbert, Franklin and Winston Counties and the municipalities named in subdivision (3) of Section 33-15-4 are each hereby authorized and empowered to contribute to the authority any amount or amounts of money, either with or without consideration therefor, that their respective governing bodies, acting in […]
Section 33-15-14 Freedom of authority from supervision and control. This chapter is intended to aid the State of Alabama in the execution of its duties by providing an appropriate and independent political subdivision of the state with full and adequate powers to fulfill the functions herein authorized. Except as in this chapter expressly otherwise provided, […]
Section 33-15-15 Annual reports. The board of directors of the authority shall report annually to the Governor of Alabama and shall likewise report annually to the governing bodies of Marion, Colbert, Franklin and Winston Counties and the incorporated municipalities named in Section 33-15-4. Such reports shall include a statement of financial receipts and expenditures and […]
Section 33-15-16 Use of public roads. The authority is hereby authorized to use the rights-of-way of all public roads in the state without securing the prior approval of the state or of its agencies or departments or the governing body of any county and subject only to the necessity of obtaining the municipal consent required […]
Section 33-15-17 Cooperation of state agencies. All agencies of the state are hereby authorized and directed to extend their cooperation and lend assistance to the authority in the formulation and implementation of its development program. (Acts 1965, No. 584, p. 1080, §17.)
Section 33-15-18 Advisory board. For the purpose of coordinating its activities with the needs and undertakings of other local organizations and groups, the board of directors may establish an advisory board consisting of the chairman of the board of directors of the authority (who shall be chairman of the advisory board) and of sufficient members […]
Section 33-15-19 Chapter cumulative; construction of chapter. This chapter shall be considered supplemental and additional to any and all other laws and confers sufficient power in and of itself for the purposes set forth herein. This chapter shall be liberally construed to effectuate its purpose of facilitating the development of the resources of the Bear […]
Section 33-15-2 Authorization and establishment; purpose; public corporation and political subdivision. In the interest of the unified development of Bear Creek and its tributaries and watershed, for the purposes of navigation, water conservation and supply, flood control, irrigation, industrial development, public recreation and related purposes, there is hereby authorized, and shall be established as hereinafter […]
Section 33-15-3 Procedure for incorporation. To become a corporation, the persons who are designated to become members of the initial board of directors of the authority, as provided in Section 33-15-4, shall present to the Judge of Probate of Franklin County a certificate of incorporation signed by them which shall contain: (1) The name and […]
Section 33-15-4 Composition of board of directors; appointment, qualifications and terms of members; vacancies in office. The board of directors of the authority shall consist of 14 members, designated herein as directors, as follows: (1) The governing body of each of the Counties of Marion, Colbert, Franklin, and Winston shall appoint a director of the […]
Section 33-15-5 Initial meeting of board; expenses of directors; quorum; acquisition by eminent domain of certain property or rights not authorized. (a) As soon as may be practicable after completion of the incorporation as provided in Sections 33-15-3 and 33-15-4, the board of directors shall hold its first meeting at Red Bay, Alabama, elect a […]
Section 33-15-6 Powers, duties and functions generally. The general powers, duties and functions of the authority shall be as follows: (1) GENERAL. The authority: a. Shall have perpetual succession in its corporate name; b. May bring civil actions and have civil actions brought against it in its corporate name; c. May adopt, use, and alter […]
Section 33-15-7 Rates, fees and charges; user permits. (a) Rates, fees and charges for services rendered by the authority from any of its facilities shall be fixed and from time to time revised by the authority; provided, that such rates, fees and charges shall be so fixed as at all times to provide funds at […]
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. 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, […]
