Title 41 — Title 41
0 chapters · 1,981 sections in this title.
Ala. Code § 41-10-888 Report to Legislature
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Prior to each legislative session beginning in 2026, the corporation shall submit an annual report to the Legislature detailing the corporation’s efforts to accomplish the goals pursuant to this article. History: (Act 2024-309, §2.)
Ala. Code § 41-10-89 Board of Directors of Corporation - Appointment of Additional Members
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to Board by Governor; Terms of Office, Etc., of Additional Members. In the event that there shall be provided to the corporation either by legislative appropriation or by executive allocation from funds of the state either moneys sufficient to pay the cost of necessary preliminar…
Ala. Code § 41-10-90 Officers of Corporation
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The officers of the corporation shall consist of a chair, a vice-chair, a secretary, a treasurer, and such other officers as the board shall deem necessary to accomplish the purposes for which the corporation was organized. The offices of secretary and treasurer may but need not …
Ala. Code § 41-10-91 Powers of Corporation - Generally
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The corporation shall have the following powers, together with all powers incidental thereto or necessary to the discharge thereof in corporate form: (1) To have succession by its corporate name until dissolved as provided in this article; (2) To sue and be sued, to prosecute and…
Ala. Code § 41-10-92 Powers of Corporation - Eminent Domain
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The corporation shall have the same powers of eminent domain as are vested by law in the county, which powers shall be exercised in the same manner and under the same conditions as are provided by law for the exercise of the power of eminent domain by the county. History: (Acts 1…
Ala. Code § 41-10-93 Authority for Issuance of Bonds by Corporation; Liability Upon Bonds;
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Form, Terms, Denominations, Etc.; Redemption; Sale; Payment of Expenses in Connection with Authorization, Sale and Issuance; Bonds to Contain Recital as to Authority for Issuance; Bonds to Be Deemed Negotiable Instruments. The corporation is authorized at any time and from time t…
Ala. Code § 41-10-94 Notice of Resolution Authorizing Issuance of Bonds; Limitation Period
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for Actions Contesting Validity of Bonds, Etc. (a) Upon the adoption by the board of any resolution providing for the issuance of bonds, the corporation may, in its discretion, cause to be published once a week for two consecutive weeks in a newspaper published in the county a no…
Ala. Code § 41-10-95 Execution and Delivery of Bonds and Interest Coupons
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All bonds shall be signed by the chair or vice-chair of the corporation, and the seal of the corporation shall be affixed thereto and attested by its secretary. A facsimile of the seal of the corporation and of the signature of either of said officers, but not both of them, may b…
Ala. Code § 41-10-96 Security for Payment of Principal and Interest on Bonds
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The principal of and interest on the bonds shall be secured by a pledge of the rent, revenues, and income out of which the bonds shall be made payable and by a pledge of any lease agreements covering the project or any part thereof from which the rent, revenues and income so pled…
Ala. Code § 41-10-97 Disposition of Proceeds from Sale of Bonds Generally
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The proceeds derived from the sale of any bonds, other than refunding bonds, may be used only to pay the cost of acquiring, constructing, improving, enlarging, and equipping the project with respect to which they were issued, as may be specified in the indenture or the proceeding…
Ala. Code § 41-10-98 Proceeds of Bonds Not to Be Used for Payment of Fees, Commissions,
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Etc., for Services in Sale, Issuance, Execution, Etc., of Bonds; Maximum Amount Payable to Attorneys for Services Rendered. No part of any of the proceeds of the bonds provided for herein shall be used for the payment of fees, commission, expense, salary, or other remuneration to…
Ala. Code § 41-10-99 Refunding Bonds
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The corporation may at any time and from time to time issue refunding bonds for the purpose of refunding the principal of and interest on any bonds of the corporation theretofore issued under this article and then outstanding, whether or not such principal and interest shall have…