reglab/housing_qa huggingface dataset:
AL Code § 11-81-261 (2021)
2021 Code of Alabama|Title 11 - Counties and Municipal Corporations.|Title 3 - Provisions Applicable to Counties and Municipal Corporations.|Chapter 81 - Municipal and County Bonds.|Article 9|Section 11-81-261 - Legislative Findings of Fact and Declaration of Intent; Construction of Article.

Section 11-81-261THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2021 REGULAR SESSION, EFFECTIVE JUNE 1, 2021. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.  Legislative findings of fact and declaration of intent; construction of article. The Legislature hereby makes the following findings of fact and declares its intent to be as follows:  (1) The Legislature acknowledges the key role of public corporations in the state in promoting public interest through acquiring, enlarging, improving, expanding, owning, operating, leasing, and disposing of road improvement related properties. It has come to the attention of the Legislature that questions have been raised as to the status of certain road improvement commissions located in certain counties. It is the intent of the Legislature to promote the public health and general welfare by exercising its police power to authorize the formation of independent public corporations created jointly by counties and municipalities, and the reincorporation of existing road improvement commissions located in counties containing a Class 4 municipality, as defined by Section 11-40-12, incorporated under Chapter 44B of Title 11, having as their general purposes the promotion of road improvement purposes, facilities, and activities and having the power to issue bonds, among certain other powers. (2) This article shall be liberally construed in accordance with the findings of fact and declaration of intent in this section. (Act 2021-408, §2.)
AL Code § 11-81-262 (2021)
2021 Code of Alabama|Title 11 - Counties and Municipal Corporations.|Title 3 - Provisions Applicable to Counties and Municipal Corporations.|Chapter 81 - Municipal and County Bonds.|Article 9|Section 11-81-262 - Authorization and Procedure for Incorporation Generally.

Section 11-81-262Authorization and procedure for incorporation generally. Any number of natural persons, not less than three, residing in the county of incorporation may incorporate an authority as provided in this article. The incorporators shall file a written application in accordance with Section 11-81-263. (Act 2021-408, §3.)
AL Code § 11-81-263 (2021)
2021 Code of Alabama|Title 11 - Counties and Municipal Corporations.|Title 3 - Provisions Applicable to Counties and Municipal Corporations.|Chapter 81 - Municipal and County Bonds.|Article 9|Section 11-81-263 - Filing of Application for Incorporation With Probate Judge; Contents Thereof; Recordation of Application by Probate Judge; Approval or Disapproval by Governing Body of County of Incorporation and Each Participating Municipality.

Section 11-81-263Filing of application for incorporation with probate judge; contents thereof; recordation of application by probate judge; approval or disapproval by governing body of county of incorporation and each participating municipality. (a) The written application of the incorporators shall be filed with the probate judge, which application shall: (1) Contain a statement that the incorporators propose to incorporate an authority pursuant to this article. (2) State that each of the incorporators is a resident of the county of incorporation. (3) Request that the governing body of the county of incorporation and each participating municipality adopt a resolution declaring that it is expedient that the proposed authority be formed, approving the written application, and authorizing the incorporators to proceed to form the proposed authority by filing for record articles in accordance with this article. (b) The application shall include the form of articles of the proposed authority. (c) The governing body of the county of incorporation and of each participating municipality shall review the contents of the application and the accompanying form of articles and shall adopt a resolution to deny the application or to declare that it is expedient that the proposed authority be formed, approving the form of the articles, and authorizing the incorporators to proceed to form the proposed authority by filing for record pursuant to subsection (c) of Section 11-81-264. (d) It shall not be necessary that a resolution be published in any newspaper or posted or be offered for more than one reading. (e) No authority may be formed until the application and the resolution have been adopted. (Act 2021-408, §4.)
AL Code § 11-81-264 (2021)
2021 Code of Alabama|Title 11 - Counties and Municipal Corporations.|Title 3 - Provisions Applicable to Counties and Municipal Corporations.|Chapter 81 - Municipal and County Bonds.|Article 9|Section 11-81-264 - Contents, Signing, and Filing of Articles.

Section 11-81-264Contents, signing, and filing of articles. (a) The articles of an authority shall state all of the following: (1) The names of the incorporators and that each is a resident of the county of incorporation. (2) The name of the authority, which may be a name indicating in a general way the geographic area proposed to be served by the authority and include the words "Road Improvement Authority" (e.g., "The ________________ Road Improvement Authority" or "The Road Improvement Authority of ________________," the blank space to be filled in with a geographically descriptive word or words, but the descriptive word or words shall not preclude the authority from exercising its powers in other geographic areas). (3) The period of the authority, which may be perpetual. (4) The location of the principal office of the authority, located within the boundaries of the county of incorporation. (5) That the authority is organized pursuant to this article. (6) The prohibitions, limitations, or conditions of the authority. (7) A minimum of three directors and the duration of their respective terms of office which may not be in excess of six years. (8)a. The manner of appointing directors. Except as provided in Section 11-81-265, the articles may specify that the directors are to be appointed by any of the following: 1. The governing body of the county of incorporation. 2. The governing bodies of the participating municipalities. 3. The individual members of the governing bodies, based upon districts, precincts, place numbers, or another method. 4. The legislative delegation of the county of incorporation. 5. Any combination of subparagraphs 1. to 4. as the articles prescribe. b. All persons making appointments to a board of directors of a joint road improvement authority shall coordinate their appointments so that diversity of gender, race, and geographical areas is reflective of the makeup of the county of incorporation. (9) Any provisions not inconsistent with this article relating to the dissolution of the authority and the vesting of title to its assets and properties upon dissolution. (10) Any other matters relating to the authority that the incorporators may choose to insert and that are not inconsistent with this article or with the laws of the state. (b) The articles shall be signed by each of the incorporators. (c) The authority shall constitute a public corporation under the name set forth in its articles upon the filing of record of the article with the probate judge. The recording of the articles by the probate judge shall be conclusive evidence of the due, legal, and valid incorporation of the authority. The probate judge shall record the articles in an appropriate book in his or her office. There shall be no filing fees or recording taxes due or payable on account of the filing for record of the articles. (Act 2021-408, §5.)
AL Code § 11-81-266 (2021)
2021 Code of Alabama|Title 11 - Counties and Municipal Corporations.|Title 3 - Provisions Applicable to Counties and Municipal Corporations.|Chapter 81 - Municipal and County Bonds.|Article 9|Section 11-81-266 - Further Authorization and Procedure for Reincorporation of Existing Road Improvement Commissions.

Section 11-81-266Further authorization and procedure for reincorporation of existing road improvement commissions. A road improvement commission created or attempted to be created prior to June 1, 2021, in a county containing a Class 4 municipality incorporated under Chapter 44B of Title 11, may seek authority to reincorporate pursuant to the procedure established in Section 11-81-265 if a majority of the commission adopts a resolution determining that it would be expedient for the commission to reincorporate and a group of at least four members of the commission files an application in accordance with Section 11-81-265. (Act 2021-408, §7.)
AL Code § 11-81-267 (2021)
2021 Code of Alabama|Title 11 - Counties and Municipal Corporations.|Title 3 - Provisions Applicable to Counties and Municipal Corporations.|Chapter 81 - Municipal and County Bonds.|Article 9|Section 11-81-267 - Recordation of Articles by Judge of Probate; Judge of Probate to Receive No Fees in Connection With Incorporation, Reincorporation, Dissolution, etc., of Authority.

Section 11-81-267Recordation of articles by judge of probate; judge of probate to receive no fees in connection with incorporation, reincorporation, dissolution, etc., of authority. (a) The articles shall be filed with the probate judge. The proposed authority shall constitute a de jure corporation upon acceptance of filing. The acceptance of the articles for filing by the probate judge shall be conclusive of the valid incorporation of a proposed authority or reincorporation of a road improvement commission. (b) There shall be no fees or taxes paid to or collected by the probate judge for any service rendered or work performed in connection with an authority, its incorporation, reincorporation, amendment, dissolution, or records. (Act 2021-408, §8.)
AL Code § 11-81-269 (2021)
2021 Code of Alabama|Title 11 - Counties and Municipal Corporations.|Title 3 - Provisions Applicable to Counties and Municipal Corporations.|Chapter 81 - Municipal and County Bonds.|Article 9|Section 11-81-269 - Members of the Board of Directors; Terms; Meetings; Removal From Office.

Section 11-81-269Members of the board of directors; terms; meetings; removal from office. (a) Except as provided in Section 11-81-265, the board of directors shall be composed of the number of directors provided for in the articles, appointed as provided in the articles for the terms designated therein. (b) All directors shall serve until their successors are appointed or until they cease to be qualified. Vacancies on the board of directors shall be filled as provided for in the articles, but any person appointed to fill a vacancy shall serve only for the unexpired portion of the term. In the event any uncertainty arises as to the terms of office of a director, the governing body or person authorized to appoint a director to the board of directors may clarify the term by adoption of an appropriate resolution or by execution of an appropriate certificate. (c) A majority of the directors shall constitute a quorum for the transaction of business, but any meeting of the board of directors may be adjourned by a majority of the directors present, or may be adjourned by a single director if the director is the only director present at the meeting. A vacancy in the membership of the board of directors may not impair the right of a quorum to exercise all the powers and perform all the duties of the board. The board shall hold regular meetings at such times as may be provided in the bylaws of the authority and may hold other meetings at any time upon notice as may be required by the bylaws of the authority or if the bylaws make no provision for notice as determined by the chair of the board of directors. The board of directors may hold a special meeting upon call of the chair or by a majority of the directors. Any matter on which the board of directors is authorized to act may be acted upon at any regular, special, or called meeting. At the request of a director, the vote on any question before the board of directors may be taken by yeas and nays and entered upon the record. All resolutions adopted by the board of directors shall constitute actions of the authority. (d) A director may be impeached and removed from office only in the same manner and on the same grounds provided in Section 175 of the Constitution of Alabama of 1901, and the general laws of the state for impeachment and removal of the officers mentioned in Section 175. (Act 2021-408, §10.)
AL Code § 11-81-270 (2021)
2021 Code of Alabama|Title 11 - Counties and Municipal Corporations.|Title 3 - Provisions Applicable to Counties and Municipal Corporations.|Chapter 81 - Municipal and County Bonds.|Article 9|Section 11-81-270 - Amendment of Articles.

Section 11-81-270Amendment of articles. (a) The articles of an authority may be amended in the manner provided in this section. The board of directors shall adopt a resolution proposing an amendment to the articles. The amendment shall be fully set forth in the resolution and may include any matters that might have been included in the original articles. (b) After the adoption by the board of directors of a resolution proposing an amendment to the articles, the chair and the secretary of the authority shall sign and file with the governing body of the county of incorporation and of each participating municipality a written application in the name and on behalf of the authority, under its seal, requesting the county and each participating municipality to adopt a resolution approving the proposed amendment, and accompanied by a copy of the resolution adopted by the board of directors proposing the amendment to the articles. The county and each participating municipality shall review the application and adopt a resolution either denying the application or approving and authorizing the proposed amendment. A resolution need not be published or posted or offered for more than one reading. (c) Following the adoption of a resolution approving the proposed amendment by the county commission of the county of incorporation and of each participating municipality, the chair and the secretary of the authority shall sign and file in the office of the probate judge a certificate in the name and on behalf of the authority, under its seal, reciting the adoption of resolutions by the board and by the governing body of the county of incorporation and of each participating municipality and setting forth the proposed amendment. The probate judge shall record the certificate. The amendment shall become effective upon recordation. (Act 2021-408, §11.)
AL Code § 11-81-272 (2021)
2021 Code of Alabama|Title 11 - Counties and Municipal Corporations.|Title 3 - Provisions Applicable to Counties and Municipal Corporations.|Chapter 81 - Municipal and County Bonds.|Article 9|Section 11-81-272 - Issuance and Sale of Bonds.

Section 11-81-272Issuance and sale of bonds. An authority may sell at public or private sale and issue bonds as provided in Section 11-81-273 for the purposes authorized in Section 11-81-271. (Act 2021-408, §13.)
AL Code § 11-81-275 (2021)
2021 Code of Alabama|Title 11 - Counties and Municipal Corporations.|Title 3 - Provisions Applicable to Counties and Municipal Corporations.|Chapter 81 - Municipal and County Bonds.|Article 9|Section 11-81-275 - Disposition of Funds; Negotiability of Bonds; Exemption From Taxation; Security; Investment in Bonds.

Section 11-81-275Disposition of funds; negotiability of bonds; exemption from taxation; security; investment in bonds. (a) The proceeds from the sale of any bonds shall be applied as provided in the proceedings in which the bonds are authorized to be issued, including, without limitation, the payment of all legal, fiscal, and recording fees and expenses incurred in connection with the authorization, sale, and issuance of the bonds and, if provided in the proceedings authorizing their issuance, interest on the bonds; or, if only a part of any issue of bonds is issued for acquisition purposes, interest on that portion of the bonds of that issue that is issued to pay acquisition costs, for a reasonable period prior to and during the time required for the acquisition, construction, and equipping of road improvement facilities. An authority may provide in the proceedings authorizing the issuance of bonds for the funding of a debt service reserve or a replacement and extension reserve from the proceeds of its bonds. (b) All contracts made by an authority and all bonds shall be solely and exclusively obligations of an authority and shall not constitute or create an obligation or debt of any other public person except as provided in subsection (c). (c) A county or municipality may pledge its full faith and credit toward the retirement of any bonds or other evidences of indebtedness issued by an authority under this article. (d) Bonds shall be construed to be negotiable instruments even if payable solely from only a specified source. (e) Bonds issued by an authority and the income therefrom shall be exempt from all taxation in the state. (f) Bonds issued by an authority may be used by the holder thereof as security for any funds belonging to any public person in any instance where security for such deposits may be required by law. (g) Unless otherwise directed by a court having jurisdiction thereof or the document that is the source of its authority, a trustee, executor, administrator, custodian, guardian, or one acting in any other fiduciary capacity may, in addition to any other investment powers now or hereafter conferred by law and with the exercise of reasonable business prudence, invest trust or fiduciary funds in bonds. (h) Neither a public hearing nor consent of any other public person may be a prerequisite to the issuance of bonds by an authority. (i) The bonds shall be legal investments for funds of the Teachers' Retirement System of Alabama, the Employees' Retirement System of Alabama, and the State Insurance Fund. (j) Public persons may invest in any bond issued by an authority. (Act 2021-408, §16.)
AL Code § 11-81-276 (2021)
2021 Code of Alabama|Title 11 - Counties and Municipal Corporations.|Title 3 - Provisions Applicable to Counties and Municipal Corporations.|Chapter 81 - Municipal and County Bonds.|Article 9|Section 11-81-276 - Exemption From Usury and Interest Laws.

Section 11-81-276Exemption from usury and interest laws. An authority shall be exempt from all laws of the state now or hereafter governing usury or prescribing or limiting interest rates, including, without limitation, Chapter 8 of Title 8. (Act 2021-408, §17.)
AL Code § 11-81-277 (2021)
2021 Code of Alabama|Title 11 - Counties and Municipal Corporations.|Title 3 - Provisions Applicable to Counties and Municipal Corporations.|Chapter 81 - Municipal and County Bonds.|Article 9|Section 11-81-277 - Exemptions From Taxation.

Section 11-81-277Exemptions from taxation. All properties of an authority, whether real, personal, or mixed, and the income therefrom, all bonds and other securities issued by an authority and the coupons applicable thereto and the income therefrom, and all indentures and other instruments executed as security therefor, all leases made pursuant to this article and all revenues derived from any such leases, and all deeds and other documents executed by or delivered to an authority shall be exempt from any and all taxation by any public person, including, without limitation, license and excise taxes imposed in respect of the privilege of engaging in any of the activities in which an authority may engage. An authority shall not be obligated to pay or allow any fees, taxes, or costs to the probate judge in connection with the amendment of its articles or the recording of any document. The gross proceeds of the sale of any property used in a road improvement project or the construction and equipping of any road improvement facility for an authority, regardless of whether or not the sale is to an authority or any contractor or agent thereof, shall be exempt from the sales tax imposed by Article 1 of Chapter 23 of Title 40, and from all other sales and similar excise taxes now or hereafter levied on or with respect to the gross proceeds of any such sale by a public person; and any property used in a road improvement project or the construction and equipping of any road improvement facility for an authority, regardless of whether the property has been purchased by an authority or any contractor or agent thereof, shall be exempt from the use tax imposed by Article 2 of Chapter 23 of Title 40, and all other use and similar excise taxes now or hereafter levied on or with respect to property by a public person. (Act 2021-408, §18.)
AL Code § 11-81-278 (2021)
2021 Code of Alabama|Title 11 - Counties and Municipal Corporations.|Title 3 - Provisions Applicable to Counties and Municipal Corporations.|Chapter 81 - Municipal and County Bonds.|Article 9|Section 11-81-278 - Transfer of Funds and Assets to Authority.

Section 11-81-278Transfer of funds and assets to authority. Any public person may transfer and convey to an authority, with or without consideration any properties, real, personal, or mixed, and all funds and assets, tangible or intangible, that may be owned by a public person or that may be jointly owned by any two or more thereof, and any funds owned or controlled by a public person or jointly by any two or more thereof, whether or not the property or funds are considered necessary for the conduct of the governmental or public functions, if any, of a public person. The transfer or conveyance shall be authorized by an ordinance or resolution duly adopted by the governing body of a public person. The ordinance or resolution need not be published or posted and need not be offered for more than one reading. (Act 2021-408, §20.)
AL Code § 11-81-279 (2021)
2021 Code of Alabama|Title 11 - Counties and Municipal Corporations.|Title 3 - Provisions Applicable to Counties and Municipal Corporations.|Chapter 81 - Municipal and County Bonds.|Article 9|Section 11-81-279 - Dissolution of Authority; Title to Property of Authority to Vest in County of Incorporation Upon Dissolution of Authority Unless Otherwise Provided.

Section 11-81-279Dissolution of authority; title to property of authority to vest in county of incorporation upon dissolution of authority unless otherwise provided. (a) At any time when no bonds of an authority are outstanding, the authority may be dissolved by the adoption of a resolution by the board of directors recommending dissolution and by the approval of the dissolution by the governing body of the county of incorporation and each participating municipality and the adoption of a resolution to the effect that the county and each participating municipality concur. The resolution need not be published or posted and need not be offered for more than one reading. Upon the dissolution the chair and secretary of the dissolved authority shall execute articles of dissolution reciting that the resolutions have been adopted and that the authority has been dissolved. The articles of dissolution shall be filed with the probate judge, who shall record the dissolution. (b) Upon dissolution of an authority, title to all its property shall be vested in the public persons in its articles, or if no specification exists, in the county of incorporation. (Act 2021-408, §21.)