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143 chapters · 3,669 sections in this title.
Ala. Code § 11-89B-1 Public Corporation Given Power to Sell and Issue Bonds, to Pledge for Payment Proceeds, Revenues, Etc., and to Issue Bonds or Notes for Temporary Borrowing
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In addition to all other powers now or hereafter granted by law, each public corporation organized under the laws of the State of Alabama which is authorized by law (i) to operate a water system consisting of land, plants, systems, facilities, buildings and other property, or any…
Ala. Code § 11-89B-2 Form, Terms, Denominations, Etc. of Bonds; Execution and Delivery; Interest; Sale; Issuance of Refunding Bonds; Liability on Bonds; Source of Payment; Use of Proceeds; Mortgage, Deed of Trust, Etc., Containing Certain Agreements
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All bonds issued pursuant to the provisions of this chapter shall be signed by the chairman of the board of directors or other governing body or other chief executive officer of such public corporation and attested by its secretary and the seal of such public corporation shall be…
Ala. Code § 11-89B-3 Contracts as Security for Payment of Principal and Interest on Bonds
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As security for payment of the principal of and interest on bonds issued or obligations assumed by it, such public corporation 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 an…
Ala. Code § 11-89B-4 Resolution of Board of Directors, Etc., or Trust Indenture Containing Provisions Creating Statutory Mortgage Lien
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Any resolution of the board of directors or other governing body of such public corporation 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 bon…