Title 41 — Title 41

To the extent that such have not been heretofore exercised or discharged, all rights, powers, duties, and liabilities of the Alabama Building Authority created by Act No. 205 of the 1955 Legislature, page 501, Acts of 1951, approved August 3, 1955, are hereby continued in full fo…

The governing body is authorized in its discretion to invest in bonds of the corporation any idle or surplus money held in the treasury of the county which is not otherwise earmarked or pledged. History: (Acts 1965, 1st Ex. Sess., No. 174, p. 224, §24.)

Companies, Trustees, Etc. Bonds issued under the provisions of this article are hereby made legal investments for executors, administrators, trustees, and other fiduciaries and for savings banks and insurance companies organized under the laws of the state. History: (Acts 1965, 1…

(a) Remedies upon default on bonds or indenture. If there shall be any default in the payment of the principal of or interest on any of the bonds issued under this article, or in the performance of any provisions of the indenture or proceedings authorizing the issuance of such bo…

(a) Leases to municipality, county, or state. The corporation, the municipality, the county, and the state are hereby respectively authorized to enter into with each other one or more lease agreements whereunder a project or any part thereof shall be leased by the corporation to …

The corporation or any lessee of the project or a part thereof shall have the right to conduct such exhibits, contests, and sporting events in a project or any part thereof as in the judgment of the board may be in the public interest or as may tend to promote and develop trade, …

State Authorized. The municipality, the county, and the state are hereby respectively authorized to convey to the corporation, with or without the payment of monetary or other consideration therefor, any property that may be owned by the municipality, the county or the state, whe…

Limitations. The municipality and the county are hereby each respectively authorized to appropriate and pay over to or for the use of the corporation such sums as they consider desirable either to provide funds to pay for preliminary surveys, engineering and architectural studies…

Corporation. Each project and the income from all leases made with respect thereto, the bonds issued by the corporation and the income therefrom, and all lease agreements and indentures made pursuant to the provisions of this article shall be exempt from all taxation in the state…

Upon Dissolution; Vesting of Title to Projects Upon Payment in Full of Bonds Pertaining Thereto; Formation of Corporation Not to Prevent Subsequent Formation of Other Corporations by Same County. (a) At any time when the corporation does not have any bonds outstanding, the board …

This article shall not be construed as a restriction or limitation upon any power, right, or remedy which any county or any corporation now in existence or hereafter formed may have in the absence thereof and shall be construed as cumulative and independent thereof. History: (Act…

This article shall be known and cited as the Historical Preservation Authorities Act of 1979. History: (Acts 1979, No. 79-441, p. 710, §1.)

The following words and phrases used in this article and others evidently intended as the equivalent thereof shall, in the absence of clear implication in this article otherwise, be given the following respective interpretations: (1) APPLICANT. A natural person who files a writte…

Public corporations may be formed under the provisions of this article as agencies or instrumentalities of this state for any one or more or all of the following purposes: (1) To undertake and to make or cause to be made engineering, architectural, technical, financial, legal, an…

and Issuance of Executive Order by Governor. (a) In order to form a public corporation under the provisions of this article, any number of natural persons, not less than three, shall first file a written application with the Governor. Such application shall: (1) Contain a stateme…

Execution, Recordation, Etc. (a) After the date of issuance by the Governor of his or her executive order authorizing the applicants to proceed to form a public corporation, as provided in Section 41-10-138, the applicants or not less than three of the applicants shall proceed to…

Expenses, Removal, Etc. Each authority shall be governed by a board of directors consisting of three directors, all of whom shall be persons of good moral character, duly qualified electors of the state, and residents of the area of operation of the authority. All powers of an au…

An authority 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 for the duration of time (which may be in perpetuity) specified in its certificate of in…

Bonds; Negotiable; Security for Payment. All bonds issued by an authority may be executed by such officers of the authority and in such manner as shall be provided in the proceedings of the board whereunder the bonds shall be authorized to be issued. Any such bonds may be execute…

As security for payment of the principal and interest on bonds issued or obligations assumed by it, an authority may enter into a contract or contracts binding itself for the proper application of the proceeds of bonds and other funds, for the continued operation, leasing, and ma…

Interest; Recording Notice. Any resolution of the board or trust indenture under which bonds may be issued pursuant to the provisions of this article may contain provisions creating a statutory mortgage lien in favor of the holders of such bonds and of the interest coupons applic…

All moneys derived from the sale of any bonds issued by an 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, but shall not be limited to: (1) The fiscal,…

Counties, Municipalities, Etc. For the purpose of effecting the restoration, renovation, preservation, improvement, protection, or maintenance of, or interest in, any public or private property that has been listed in the National Register of Historic Places, any county, municipa…

Each authority formed under this article, the property and income of the authority, all bonds issued by the authority, the income from such bonds or from any other sources, the interest and other profits from such bonds enuring to and received by the holders thereof, conveyances …

Each authority shall submit to the Governor a detailed report of its activities during the previous year and of its financial condition. Such annual report shall be submitted as of October 1 of each year. The Governor may also require special interim reports by an authority of it…

This article is intended to aid the state in the execution of its duties by providing appropriate and independent instrumentalities of the state with full and adequate powers to fulfill their functions. The foregoing sections of this article shall be deemed to provide additional …

At any time when no bonds or obligations assumed by an authority are outstanding, the board of directors of an authority may adopt a resolution, which shall be entered upon its minutes, declaring that the authority shall be dissolved. Upon the filing for record of a certified cop…

This Article. Any authority organized under Acts 1978, No. 822, p. 1213 prior to July 19, 1979 shall continue to be valid and shall be governed by said act, and any authority organized under said act may reincorporate under Sections 41-10-135 through 41- 10-150 by action of its b…

Distribution of Net Earnings. Each authority heretofore or hereafter organized pursuant to Sections 41-10-135 through 41-10-151, shall be a nonprofit corporation, and no part of its net earnings remaining after payment of its expenses shall inure to the benefit of any private ind…

Interest Limiting Laws. Each such authority is and shall be exempt from the laws of the State of Alabama governing usury or prescribing or limiting interest rates, including, without limitation, the provisions of Chapter 8 of Title 8. History: (Acts 1980, No. 80-659, p. 1337, §2.…

Retrospectively Validating. The provisions of Sections 41-10-152 through 41-10-154 shall apply both prospectively and retrospectively, except that Sections 41-10-152 through 41-10- 154 shall not apply retrospectively so as to validate, cure, or remedy any act taken by an authorit…

There is hereby created the Historic Blakeley Authority: (1) To establish, develop, operate, promote, protect, preserve, and maintain as a state historic park the lands in Baldwin County, Alabama listed on the National Register of Historic Places as the Blakeley site along with r…

(a) The authority shall be composed of 21 members as follows: (1) Two representatives of education, one to be appointed by the President of the University of South Alabama for a two-year term and one to be appointed by the Baldwin County Board of Education from among school board…

No member of the authority shall receive any pay or emolument other than his or her expenses incurred in the discharge of his duties as a member of the authority, which expenses shall be paid in the amounts provided for by the Code of Alabama 1975. All such expenses shall be paid…

Members, Employees, Etc.; Interests Held by Members, Employees, Etc., in Land, Materials, or Contracts Sold To, Made With, Etc., the Authority. It shall be unlawful for any member of the authority or any employee thereof to charge, receive, or obtain, either directly or indirectl…

Seal; Election and Terms of Office of Chairman, Vice-Chairman, Secretary and Treasurer; Bonding Requirements for Treasurer. (a) The authority shall hold an annual meeting at Blakeley each September on a day designated by the chair. Eleven members shall constitute a quorum for the…

The authority shall constitute a body corporate and shall have, in addition to those set forth specifically in this article, all powers necessary or convenient to effect the purposes for which it has been established under and by the terms of this article, together with all power…

Blakeley National Register Site; Power to Lease, Purchase, Etc., Any Property in Order to Fulfill the Purposes of the Authority, Power to Borrow Money, Issue Revenue Bonds, and Pledge Security. (a) The authority is authorized to take possession under a lease or a deed or other in…

Admission Charges; Agreements with Other Groups or Organizations Relative to Management of the Park and Historic Site; Authority to Accept Gratuitous Services. (a) The authority shall operate or provide for the operation of the park or historic site hereby provided for and any ap…

Roads and Other Public Facilities, Etc., for the Authority by Counties and Municipalities. The county commission of any county or governing body of any municipality in this state shall be authorized, by resolution duly adopted and recorded, to appropriate any available public fun…

The authority shall have a tax-exempt status, and the properties of the authority and the income therefrom, all lease agreements and contracts made by it, all bonds issued by it and the coupons applicable thereto and the income therefrom and all indentures executed with respect t…

Provided for State Employees; Payment of Contributions for Such Insurance. (a) All full-time employees of the authority shall be treated as state employees for the purpose of participating in any insurance programs provided for state employees. (b) The authority is hereby authori…

Etc.; Promulgation, Alteration, Etc., of Rules and Regulations Concerning Preservation, Etc., of Blakeley Historic Site; Penalty for Violation of Rules or Regulations; Police Powers of Authority Members; Designation of Deputy Police Officers. (a) The authority shall be a state ag…

Municipality; Boundaries; Persons Recognized as Citizens for Purposes of Electing Town Officials and Conducting Town Business; Authority as Governing Body of Town of Blakeley. The original charter of the Town of Blakeley by act of the Alabama Legislature in 1818 strengthened by a…

To the extent that such have not been heretofore exercised or discharged, all rights, powers, duties, and liabilities of the Alabama Building Finance Authority created by Act No. 658 of the 1961 Legislature, page 807, Acts of 1961, approved September 6, 1961, are hereby continued…

When used in this article, the following terms shall have the following meanings, respectively, unless the context clearly indicates otherwise: (1) AUTHORITY. The public corporation organized pursuant to the provisions of this article. (2) BOARD OF DIRECTORS. The board of directo…

REPEALED IN THE 2018 REGULAR SESSION BY ACT 2018-152 EFFECTIVE JUNE 1, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. History: (Acts 1983, No. 83-408, p. 580, §1.)

REPEALED IN THE 2018 REGULAR SESSION BY ACT 2018-152 EFFECTIVE JUNE 1, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. History: (Acts 1983, No. 83-408, p. 580, §2.)

REPEALED IN THE 2018 REGULAR SESSION BY ACT 2018-152 EFFECTIVE JUNE 1, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. History: (Acts 1983, No. 83-408, p. 580, §3.)

Expenses; Quorum; Impeachment; Copies of Proceedings as Evidence. REPEALED IN THE 2018 REGULAR SESSION BY ACT 2018-152 EFFECTIVE JUNE 1, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. History: (Acts 1983, No. 83-408, p. 580, §4.)