Section 45-49A-10 Authority to form public corporation. The governing body of the City of Bayou La Batre, Mobile County, Alabama, may declare by the adoption of appropriate resolution the need for the formation of a public corporation to carry out this article. Upon the adoption of such resolution the governing body of the City of […]
Section 45-49A-10.01 Certificate of incorporation. The certificate of incorporation of the corporation shall state: The names of the persons forming the corporation, together with the residence of each thereof and a statement that each of them is a duly qualified elector of and property owner in the City of Bayou La Batre; the name of […]
Section 45-49A-10.02 Filing of certificate. The certificates of incorporation with the documents attached shall be filed with the Judge of Probate of Mobile County and with the Secretary of State, who shall forthwith receive and record the same. When such certificate is so filed the corporation referred to therein shall come into existence and shall […]
Section 45-49A-10.03 Board of directors. All powers of the corporation shall be exercised by the board of directors or pursuant to its authority. The directors shall be elected by the governing body of the City of Bayou La Batre for staggered terms of office as follows: Two years for the first appointee; three years for […]
Section 45-49A-10.04 Powers of corporation. A corporation organized and established under this article 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 at the City […]
Section 45-49A-10.05 Power to borrow money and issue revenue bonds. (a) The corporation shall have the power to borrow money and to issue revenue bonds as evidence of any money borrowed, which bonds shall be payable solely from the revenues derived from the activities and enterprises in which the corporation is hereby authorized to engage. […]
Section 45-49A-10.06 Contract requirements. The contracts of the corporation shall be executed in the name of the corporation by the president of the corporation and attested by the secretary of the corporation. Except for bonds, it is not required that the seal be impressed or printed on contracts. It is further provided hereby that, except […]
Section 45-49A-10.07 Lease, sale, donation, or transfer of property to the corporation. Mobile County or the City of Bayou La Batre, or any city within the county, is authorized, but not required, to lease, sell, donate, or otherwise convey to the corporation, real or personal property, including park properties, without the necessity of authorization by […]
Section 45-49A-10.08 Debts, obligations, or liabilities of corporation. No debt, obligation, or liability contracted or incurred by the corporation or by any director, officer, employee, or agent of the corporation shall be a debt, obligation, or liability of the State of Alabama, or of any city, town, county, or political subdivision of the State of […]
Section 45-49A-10.09 Exemption from taxation. All property of the corporation shall be exempt from state, county, and city taxation; and the corporation shall be exempt from license or privilege licenses levied by the state, county, or city upon the business or activities conducted or engaged in by the corporation; provided, however, this exemption shall not […]
