Title 2 — Title 2

There is hereby created and established an Agricultural Center Board, to consist of the Director of Finance, Governor, Commissioner of Agriculture and Industries, Chair of the Montgomery County Commission, President of the Montgomery City Council, Mayor of Montgomery, and four me…

This article shall be known as the Garrett Coliseum Agricultural Center Restoration and Improvement Act. History: (Act 2010-751, p. 1903, §1.)

This article shall be known as the “Garrett Coliseum Redevelopment Act.” History: (Act 2011-575, p. 1231, §1.)

For the purposes of this article, the following words shall have the following meanings: (1) ALABAMA AGRICULTURAL CENTER BOARD or AACB. The Alabama Agricultural Center Board established by Section 2-6-1, as amended by this article. (2) BOARD OF DIRECTORS or BOARD. The board of di…

The Governor, the Commissioner of Agriculture and Industries, and the Director of Finance shall form a public corporation with the powers and authorities provided in this article. History: (Act 2011-575, p. 1231, §4.)

Incorporation. (a) To become a public corporation, the Governor, the Commissioner of Agriculture and Industries, and the Director of Finance shall present to the Secretary of State an application signed by each which shall set forth all of the following: (1) The name, official de…

(a) The corporation shall be governed by a board of directors, as provided for in this section. All powers of the corporation shall be exercised by the board or pursuant to its authorization. The presence of a majority of members of the board of directors shall constitute a quoru…

The corporation shall have the following powers, as well as the other powers specified in this article: (1) To have succession by its corporate name until dissolved as provided in this article. (2) To sue and be sued and to prosecute and defend, at law or in equity, in any court …

Commencing June 9, 2011, the Governor is authorized and directed to execute and deliver, in the name of the State of Alabama, an appropriate deed conveying to the corporation the coliseum together with the lands in the Alabama Agricultural Center in the City of Montgomery. Upon d…

(a) Without limiting the generality of the powers otherwise granted by this article, the corporation is authorized to lease the project, or portions thereof, to the Alabama Agricultural Center Board or to any other public or private entity. The AACB and any other agency, board, c…

(a) The corporation or the AACB may enter into management, operations, or other types of agreements with public or private entities for the design, rehabilitation, renovation, expansion, management, promotion, or operation of the coliseum. Any law to the contrary notwithstanding,…

The corporation shall have the same power of eminent domain as the state. Such power 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 State of Alabama. History: (Act 2011-575, p. 1231…

The Legislature finds that the Garrett Coliseum and the Alabama Agricultural Center, hereinafter the facility, is a significant historic facility owned by the State of Alabama and which faces imminent closure because of operational and public safety concerns if it is not restored…

The corporation is authorized to sell and issue its bonds, not exceeding one hundred million dollars ($100,000,000), exclusive of refunding bonds, in aggregate principal amount, and in any additional aggregate principal amounts as authorized by other acts of the Legislature, for …

The corporation may sell and issue its refunding bonds, without limit as to principal amount, for the purpose of refunding any bonds of the corporation at the time outstanding, paying the expenses of issuance, and paying any premiums necessary to be paid to redeem any bonds to be…

All bonds of the corporation shall be signed by its president, and the seal of the corporation shall be affixed thereto and attested by its secretary. The signatures of the president and secretary may be facsimile signatures and a facsimile of the seal of the corporation may be i…

Bonds may be sold by the corporation in series, and if sold in more than one series may all be authorized in one initial resolution of the board of directors with the pledges made in such initial resolution, although some of the details applicable to each series may be specified …

(a) Any bonds of the corporation may be executed and delivered by it at any time and from time to time, shall be in such form and denominations and of such tenor and maturities, shall bear such rate or rates of interest, payable and evidenced in such manner, may contain provision…

Any portion of the principal proceeds derived from the sale of the bonds which the board of directors of the corporation may determine is not then needed for any of the purposes for which the bonds are authorized to be issued shall be invested in permitted investments. Any such s…

All proceeds derived from the sale of any bonds, excluding refunding bonds, sold by the corporation remaining after payment of the expenses of issuance thereof and the funding of any required reserve or replacement fund shall be deposited into a special account to the credit of t…

(a) The proceeds of refunding bonds shall be applied, together with any other moneys legally available, to the payment of the expenses authorized by this article and to the payment of the principal of, premium, if any, and interest due and to become due on any outstanding bonds t…

For the purpose of providing funds for the payment of the principal of and interest on the bonds issued by the corporation under this article, there is created and irrevocably pledged to the payment of such obligations a special and continuing trust fund which shall consist of al…

Judge of Probate. In the proceedings authorizing the issuance of any of its bonds, the corporation is authorized and empowered to pledge for the payment of the principal of and interest on bonds at the respective maturities of the principal and interest, and to agree to use solel…

(a) Beginning in the fiscal year ending September 30, 2013, and in each fiscal year thereafter there shall be appropriated from the State General Fund to the Alabama Agriculture Center Board the sum of eight hundred thousand dollars ($800,000). (b) This annual appropriation shall…

Out of the receipts, revenues, and income referred to in Section 2-6-118, the corporation is authorized and directed to pay the principal of and interest on the bonds as the principal and interest shall respectively mature, and is further authorized and directed to set up and mai…

(a) Any resolution authorizing any bonds under this article shall contain a recital that they are issued pursuant to this article, which recital shall be conclusive evidence that the bonds have been duly authorized pursuant to this article, notwithstanding the provisions of any o…

For the purpose of attaining the objectives of this article, any county, municipality, or other political subdivision, or public corporation, agency, or instrumentality of the state, a county, or municipality, upon such terms and with or without consideration, as it may determine…

The corporation shall have the power to make payments to the United States of America as the directors deem necessary to cause the interest on any bonds of the corporation to be and remain exempt from federal income taxation. The corporation shall have the power to make agreement…

The state and all public officers, municipal corporations, political subdivisions and public bodies, all banks, bankers, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, investment companies, and other persons carryin…

All obligations incurred by the corporation and all bonds issued by it shall be solely and exclusively an obligation of the corporation and shall not create an obligation or debt of the State of Alabama. History: (Act 2011-575, p. 1231, §27.)

The properties of the corporation and the income from those properties, all lease agreements made by the corporation, and all bonds issued by the corporation and the income from the bonds, and all lien notices filed with respect thereto shall be forever exempt from any and all ta…

When all securities issued by the corporation and all obligations assumed by it under this article shall have been paid in full, the then president of the corporation shall execute and deliver in the name of and in behalf of the corporation an appropriate deed, or deeds, to which…

The board may utilize the funds appropriated herein to accomplish the purposes of maintaining, restoring, renovating, and improving the facility as it deems appropriate or for any legal purpose approved by the board. History: (Act 2010-751, p. 1903, §4.)

Repealed by Act 2011-575, p. 1231, §30, effective June 9, 2011. History: (Acts 1951, No. 532, p. 934, §1.)

Repealed by Act 2011-575, p. 1231, §30, effective June 9, 2011. History: (Acts 1951, No. 532, p. 934, §2.)

Repealed by Act 2011-575, p. 1231, §30, effective June 9, 2011. History: (Acts 1951, No. 532, p. 934, §3.)

Repealed by Act 2011-575, p. 1231, §30, effective June 9, 2011. History: (Acts 1951, No. 532, p. 934, §5.)

Finance to Constitute Corporation; Directors; Officers; Record of Proceedings. Repealed by Act 2011-575, p. 1231, §30, effective June 9, 2011. History: (Acts 1951, No. 532, p. 934, §6.)

Repealed by Act 2011-575, p. 1231, §30, effective June 9, 2011. History: (Acts 1951, No. 532, p. 934, §7.)

Corporation by State. Repealed by Act 2011-575, p. 1231, §30, effective June 9, 2011. History: (Acts 1951, No. 532, p. 934, §8.)

Lease Agreement. Repealed by Act 2011-575, p. 1231, §30, effective June 9, 2011. History: (Acts 1951, No. 532, p. 934, §9.)

Repealed by Act 2011-575, p. 1231, §30, effective June 9, 2011. History: (Acts 1951, No. 532, p. 934, §10.)

Repealed by Act 2011-575, p. 1231, §30, effective June 9, 2011. History: (Acts 1951, No. 532, p. 934, §11.)

The Agricultural Center Board is authorized, subject to the provisions of the state Merit System, to employ such persons as may be necessary for the official and economical management and maintenance of the agricultural center. History: (Acts 1986, No. 86-224, p. 329, §2.)

Repealed by Act 2011-575, p. 1231, §30, effective June 9, 2011. History: (Acts 1951, No. 532, p. 934, §12.)

Repealed by Act 2011-575, p. 1231, §30, effective June 9, 2011. History: (Acts 1951, No. 532, p. 934, §13.)

Repealed by Act 2011-575, p. 1231, §30, effective June 9, 2011. History: (Acts 1951, No. 532, p. 934, §14.)

Repealed by Act 2011-575, p. 1231, §30, effective June 9, 2011. History: (Acts 1951, No. 532, p. 934, §15.)

Repealed by Act 2011-575, p. 1231, §30, effective June 9, 2011. History: (Acts 1951, No. 532, p. 934, §16.)

Bonds, Etc.; Venue of Actions Under Article. Repealed by Act 2011-575, p. 1231, §30, effective June 9, 2011. History: (Acts 1951, No. 532, p. 934, §17.)