AL Code § 45-49-90.07 (2021)
2021 Code of Alabama|Title 45 - Local Laws.|Chapter 49 - Mobile County.|Article 9 - Economic and Industrial Development and Tourism.|Part 1 - Industrial Parks.|Section 45-49-90.07 - Powers of Corporation; Location of Industrial Park.

Section 45-49-90.07Powers of corporation; location of industrial park. (a) The corporation shall have all of the following powers, together with all powers incidental thereto or necessary for the performance of those stated in this subsection: (1) To have succession by its corporate name for the period specified in the certificate of incorporation unless sooner dissolved as provided in this part. (2) To sue and be sued and to prosecute and defend civil actions in any court having jurisdiction of the subject matter and of the parties. (3) To have and to use a corporate seal and to alter the same at pleasure. (4) To acquire, whether by purchase, construction, exchange, gift, lease or otherwise, improve, maintain, equip, and furnish one or more industrial parks, including all real and personal properties which the board of directors of the corporation may deem necessary in connection therewith and regardless of whether or not any such industrial parks or any part thereof shall then be in existence. (5) To sell, exchange, donate, and convey, to contract to sell, exchange, and convey, and to grant, with or without additional consideration, options to acquire any or all of its properties whenever its board of directors shall find any such action to be in furtherance of the purposes for which the corporation was organized. (6) To lease to others for a period not to exceed 40 years any or all of its industrial parks or any part thereof and to charge and collect rent therefor and to terminate any such lease upon the failure of the lessee to comply with any of the obligations thereof. (7) To grant to others privileges, licenses, or permits for the use of land for the construction and operation of industrial parks and to authorize such lessees or grantees to mortgage their interest, rights, and properties to finance the construction, enlargement, and improvement of such industrial parks. (8) To issue its bonds for the purpose of carrying out any of its powers. (9) As security for the payment of the principal of and interest on any bonds so issued and any agreements made in connection therewith, to mortgage and pledge any or all of its projects or any part or parts thereof, whether then owned or thereafter acquired, and to pledge the revenues and receipts therefrom or from any thereof. (10) To assume obligations secured by a lien on any industrial park or any part thereof that may be acquired, any obligation so assumed to be payable solely out of the revenues and receipts from any or all of its industrial parks or part thereof. (11) To appoint, employ, contract with, and provide for the compensation of such officers, employees, and agents including, but without limitation, engineers, attorneys, architects, construction contractors, management consultants, and fiscal advisers, as its business may require. (12) To provide for such insurance as the board of directors may deem advisable. (13) To cooperate with the United States of America, any agency or instrumentality thereof, the state, any municipality, county, public corporation, or other public entity in the state or any person, or any combination of any of the foregoing. (14) To accept gifts, grants, bequests, and devises. (b) Any industrial park of the corporation may be located within or partially within and partially without the county, subject to all of the following conditions: (1) No part of the industrial park shall be located more than three miles outside the boundaries of the county. (2) In no event shall any industrial park or part thereof be located within the corporate limits of a municipality unless the governing body of such municipality has first adopted a resolution consenting to the location of such industrial park or part thereof in such municipality. (3) No such industrial park or part thereof shall be located in a county other than Mobile County unless the governing body of such other county has first adopted a resolution consenting to the location of a part of such industrial park in such other county.  (Act 88-626, p. 976, § 8.)