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23 chapters · 461 sections in this title.
Ala. Code § 33-15-1 Definitions
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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 pu…
Ala. Code § 33-15-10 Bonds and Other Obligations - Statutory Mortgage Lien
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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 thereto,…
Ala. Code § 33-15-11 Bonds and Other Obligations - Use of Proceeds from Sale of Bonds
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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 but shall not be limited to (1) The fiscal, …
Ala. Code § 33-15-12 Exemption from Taxation, Etc
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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 the S…