Section 39-7-1 Definitions. When used in this chapter, the following terms shall have the following meanings, respectively, unless the context clearly indicates otherwise: (1) AUTHORITY. A corporation created pursuant to this chapter. (2) MUNICIPALITY. Any city or town incorporated under the laws of the State of Alabama and the inhabitants of an area containing not […]
Section 39-7-10 Adoption of resolution setting forth question submitted and votes cast; declaration of incorporation of improvement authority. At the regular meeting of the governing body of the municipality next succeeding the completion of the canvass and the statement and proclamation of result, such governing body shall adopt a resolution setting forth the question submitted […]
Section 39-7-11 When authority deemed incorporated; transmission of certified copy of resolution, etc., to Secretary of State; Secretary of State to furnish statement of names, etc., of authorities incorporated to Department of Finance; publication of statement and effect thereof. The citizens of the State of Alabama who are inhabitants of such territory shall become and […]
Section 39-7-12 Authority to be public corporation; exercise of powers of authority. (a) Each authority incorporated under this chapter shall be a public corporation in perpetuity under its corporate name and the same shall in that name be a body politic and corporate, with power of perpetual succession. (b) The power of each authority shall […]
Section 39-7-13 Purpose and powers of authority generally; sale, transfer and conveyance of entire water system to public corporation authorized to conduct business of water distribution system. (a) An authority shall be incorporated for the purpose of conducting and developing the enterprise in which it may engage in such manner that the services afforded by […]
Section 39-7-14 Board of trustees of authority – Composition; appointment, removal and terms of office of members; vacancies. (a) Each improvement authority shall have a board of trustees consisting of not more than five members that are qualified electors residing in the area serviced by the authority. (b) When the authority is composed of an […]
Section 39-7-15 Board of trustees of authority – Members not to hold public office under municipality. The members of the board shall not hold any public office under the municipality. (Acts 1935, No. 40, p. 72; Code 1940, T. 50, §33.)
Section 39-7-16 Board of trustees of authority – Organization meeting; selection of officers. Promptly after their appointment the members of the board shall meet to organize. At such meeting and at the first meeting in each year thereafter, the members of the board shall choose from their number a president and a secretary. (Acts 1935, […]
Section 39-7-17 Board of trustees of authority – Compensation; delegation of powers and duties to employees, etc. Each member of the board shall receive for his or her services compensation in an amount to be fixed by the board. The compensation to the members of the board shall be paid monthly from money received by […]
Section 39-7-18 Board of trustees of authority – Powers generally. The board of trustees shall have power to do all things necessary or convenient in conducting and developing the enterprise, including but not limited to the following powers: (1) To adopt and amend bylaws for the management and regulation of its affairs and the enterprise […]
Section 39-7-19 Transfer of supervision, possession, control, etc., of property, rights, books, papers, etc., of plant or system owned by municipality to authority generally; continuation in effect of provisions of law as to powers and duties of municipal officers and employees. Jurisdiction, supervision, possession and control of all property, real and personal, tangible and intangible, […]
Section 39-7-2 Authorization for incorporation generally. The citizens of any city or town in the State of Alabama or the citizens of any area in the State of Alabama containing as many as 250 qualified electors may be incorporated as an authority under this chapter. (Acts 1935, No. 40, p. 72; Code 1940, T. 50, […]
Section 39-7-20 Transfer of municipal officers and employees to authority. Officers and employees of any board, commission or department in or of the municipality may be transferred to the authority and shall be eligible for such transfer and appointment without examination to offices and positions under such authority. The transfer and appointment of such officers […]
Section 39-7-21 Obligations of contracts of municipality not to be impaired; payment of notes, bonds or other obligations issued by municipality; assumption of municipal contracts as to plant or system by authority. The obligations of contracts of the municipality shall not be impaired by this chapter. Moneys to provide for the payment of notes, bonds […]
Section 39-7-22 Powers generally; consent of Department of Finance required for issuance or sale of bonds or other evidence of indebtedness by authority. (a) Subject only to the Constitution of the State of Alabama, each authority incorporated under this chapter shall have power: (1) To sue and be sued; (2) To have a seal and […]
Section 39-7-23 Authorization for issuance of bonds by authority; terms, denominations, sale, redemption, etc., of bonds; issuance of interim receipts, certificates, etc. Bonds of an authority shall be authorized by resolution of the board of trustees of such authority and may be issued in one or more series, may bear such date or dates, mature […]
Section 39-7-24 Liability on bonds and other obligations of authority. The bonds and other obligations of an authority incorporated under this chapter shall not be a debt of the State of Alabama nor a debt of the municipality and neither the state nor the municipality shall be liable in any way whatsoever thereon nor may […]
Section 39-7-25 Rights and remedies of bondholders. In addition to all other rights and all other remedies any holder or holders of any bond or bonds of any authority incorporated under this chapter, including a trustee for bondholders, shall have, subject to any contractual limitations binding upon such bondholder or holders or trustee, and subject […]
Section 39-7-26 Pledge as to alteration, impairment, etc., of certain rights and powers of authorities and rights and remedies of bondholders by state. The State of Alabama does hereby pledge to and agree with the holders of bonds issued by an authority pursuant to this chapter that the state will not limit or alter the […]
Section 39-7-27 Disposition of moneys of authority. All moneys of an authority incorporated under this chapter from whatever source derived shall be paid to the treasurer of such authority and deposited by said treasurer in a depository designated by the board of trustees of such authority. The treasurer shall not commingle said moneys with any […]
