reglab/housing_qa huggingface dataset:
AL Code § 14-2-13.1 (2021)
2021 Code of Alabama|Title 14 - Criminal Correctional and Detention Facilities.|Chapter 2 - Alabama Corrections Institution Finance Authority.|Section 14-2-13.1 - Bonds - Limitations on Issuance of Refunding Bonds; Present Value of Debt Service; Average Maturity of Refunding Bonds.

Section 14-2-13.1Bonds - Limitations on issuance of refunding bonds; present value of debt service; average maturity of refunding bonds. THIS SECTION WAS AMENDED BY ACT 2021-546 IN THE 2021 1ST SPECIAL SESSION, EFFECTIVE OCTOBER 1, 2021. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. It is hereby further provided that no refunding bonds as provided for by Section 14-2-13 shall be issued unless the present value of all debt service on the refunding bonds (computed with a discount rate equal to the bond yield of the refunding bonds and taking into account all underwriting discount and other issuance expenses) shall not be greater than 98 percent of the present value of all debt service on the bonds to be refunded (computed using the same discount rate and taking into account the underwriting discount and other issuance expenses originally applicable to such bonds) determined as if such bonds to be refunded were paid and retired in accordance with the schedule of maturities (considering mandatory redemption as a scheduled maturity) provided at the time of their issuance. Provided further, that the average maturity of the refunding bonds, as measured from the date of issuance of such refunding bonds, shall not exceed by more than three years the average maturity of the bonds to be refunded, as also measured from such date of issuance, with the average maturity of any principal amount of bonds to be determined by multiplying the principal of each maturity by the number of years (including any fractional part of a year) intervening between such date of issuance and each such maturity, taking the sum of all such products, and then dividing such sum by the aggregate principal amount of bonds for which the average maturity is to be determined. (Acts 1992, No. 92-587, p. 1209, §4; Act 2021-546, §2.)
AL Code § 14-2-14 (2021)
2021 Code of Alabama|Title 14 - Criminal Correctional and Detention Facilities.|Chapter 2 - Alabama Corrections Institution Finance Authority.|Section 14-2-14 - Bonds - Specifications; Redemption; Precedence.

Section 14-2-14Bonds - Specifications; redemption; precedence. THIS SECTION WAS AMENDED BY ACT 2021-546 IN THE 2021 1ST SPECIAL SESSION, EFFECTIVE OCTOBER 1, 2021. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. Any bonds of the authority 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 provisions for redemption prior to maturity and may contain other provisions not inconsistent with this section, all as may be provided by the resolution of the authority whereunder such bonds are authorized to be issued; provided, that no bond of the authority shall have a specified maturity date later than 30 years after its date.  (Acts 1965, No. 678, p. 1226, §13; Acts 1985, 1st Ex. Sess., No. 85-125, p. 187, §7; Act 2021-546, §2.)
AL Code § 14-2-15 (2021)
2021 Code of Alabama|Title 14 - Criminal Correctional and Detention Facilities.|Chapter 2 - Alabama Corrections Institution Finance Authority.|Section 14-2-15 - Bonds - Recital, Notice and Contest of Authorizing Resolution, Etc.

Section 14-2-15Bonds - Recital, notice and contest of authorizing resolution, etc. (a) Any resolution or indenture of trust authorizing any bonds under this chapter shall contain a recital that they are issued pursuant to the provisions of this chapter, which recital shall be conclusive evidence that said bonds have been duly authorized pursuant to the provisions of this chapter, notwithstanding the provisions of any other law now in force or hereafter enacted or amended. (b) Upon the passage of any resolution or approval of any indenture or trust providing for the issuance of bonds under the provisions of this chapter, the authority may, in its discretion, cause to be published once in each of two consecutive weeks in a newspaper published and having general circulation in the City of Montgomery, Alabama, a notice in substantially the following form, the blanks being first properly filled in: "Alabama Corrections Institution Finance Authority, an Agency of the State of Alabama, on the _____ day of _____, 20__, adopted a resolution providing for the issuance of _____ Dollars principal amount of bonds of said Authority. Any action or proceeding questioning the validity of said resolution or said bonds or the pledges and agreements made in said resolution for the benefit thereof, or the proceedings under which said bonds, pledges and agreements were authorized, must be commenced within 20 days after the first publication of this notice. Alabama Corrections Institution Finance Authority. By ________________________________ Its President"  (c) Any action or proceeding in any court seeking to set aside or invalidate a resolution providing for the issuance of bonds under the provisions of this chapter or to contest the validity of any such bonds or the validity of any pledge or agreement made therefor must be commenced within 20 days after the first publication of said notice. After the expiration of 20 days following such first publication, no right of action or defense founded upon the validity of the resolution, indenture of trust or other proceedings, if any, or of the bonds or of the pledges or agreements shall be asserted. In the event of such publication, the validity of such resolution, indenture of trust, proceedings, bonds, pledges or agreements shall not be open to question in any court upon any ground whatever, except in an action or proceeding commenced within such period. Any such action shall be brought in the circuit court of Montgomery County, Alabama. (Acts 1965, No. 678, p. 1226, §28.)
AL Code § 14-2-16 (2021)
2021 Code of Alabama|Title 14 - Criminal Correctional and Detention Facilities.|Chapter 2 - Alabama Corrections Institution Finance Authority.|Section 14-2-16 - Bonds - Sale.

Section 14-2-16Bonds - Sale. THIS SECTION WAS AMENDED BY ACT 2021-546 IN THE 2021 1ST SPECIAL SESSION, EFFECTIVE OCTOBER 1, 2021. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. Bonds of the authority may be sold at such price or prices and at such time or times as the authority may consider advantageous, at public sale, private sale, or via negotiation. Bonds of the authority sold by competitive bid must be sold, whether on sealed bids or at public auction, to the bidder whose bid reflects the lowest true interest cost to the authority for the bonds being sold; provided, that if no bid acceptable to the authority is received, it may reject all bids. The authority may fix the terms and conditions under which such sale may be held; provided, that such terms and conditions shall not conflict with any of the requirements of this chapter. The authority may pay out of the proceeds of the sale of its bonds all expenses, including capitalized interest during a period not to exceed three years from the date of issuance of such bonds, publication and printing charges, attorneys' fees, and other expenses that the authority may deem necessary and advantageous in connection with the authorization, advertisement, sale, execution, and issuance of such bonds. Except as otherwise provided in paragraphs (c)(2)b. and c. of Section 14-2-12, neither a public hearing nor consent of the State Department of Finance or any other department or agency of the state shall be a prerequisite to the issuance or sale of bonds by the authority. (Acts 1965, No. 678, p. 1226, §14; Acts 1985, 1st Ex. Sess., No. 85-125, p. 187, §8; Acts 1986, No. 86-281, p. 407, §1; Acts 1992, No. 92-587, p. 1209, §3; Act 2021-546, §2.)
AL Code § 14-2-16.1 (2021)
2021 Code of Alabama|Title 14 - Criminal Correctional and Detention Facilities.|Chapter 2 - Alabama Corrections Institution Finance Authority.|Section 14-2-16.1 - Bonds - Report to Legislature; Contents.

Section 14-2-16.1Bonds - Report to Legislature; contents. The bonding authority provided herein must file a report, in concise, simple language to each legislator between the first and the twelfth legislative day of each legislative session which shall reflect the date of the issuance of the bonds, total amount of the bonds, maturity date, schedule of payments, including interest and principal, amount of attorney fees, architect fees and bond attorney fees, discount points and all other costs incurred in the issuance of and sale of the bonds herein authorized, and to what person, firm, corporation, company or other entity to which any such fees or money is to be or has been paid. (Acts 1992, No. 92-587, §5.)
AL Code § 14-2-17 (2021)
2021 Code of Alabama|Title 14 - Criminal Correctional and Detention Facilities.|Chapter 2 - Alabama Corrections Institution Finance Authority.|Section 14-2-17 - Bonds - Investment of Surplus in State Fund, etc., and Trust Funds.

Section 14-2-17Bonds — Investment of surplus in state fund, etc., and trust funds. Any surplus in any state fund and any retirements or trust fund, where the investment thereof is permitted or required by law, may be invested in bonds issued by the authority. Unless otherwise directed by the court having jurisdiction thereof or the document which is the source of authority, a trustee, executor, administrator, guardian or one acting in any other fiduciary capacity may, in addition to any other investment powers conferred by law and with the exercise of reasonable business prudence, invest trust funds in the bonds of the authority. (Acts 1965, No. 678, p. 1226, §19.)
AL Code § 14-2-18 (2021)
2021 Code of Alabama|Title 14 - Criminal Correctional and Detention Facilities.|Chapter 2 - Alabama Corrections Institution Finance Authority.|Section 14-2-18 - Bonds - Security for Deposit of Governmental Funds.

Section 14-2-18Bonds - Security for deposit of governmental funds. Any bonds issued by the authority may be used by the holders thereof as security for deposits of any funds belonging to the state or to any instrumentality, agency or political subdivision of the state in any instance where security for such deposits may be required or permitted by law. (Acts 1965, No. 678, p. 1226, §19.)
AL Code § 14-2-20 (2021)
2021 Code of Alabama|Title 14 - Criminal Correctional and Detention Facilities.|Chapter 2 - Alabama Corrections Institution Finance Authority.|Section 14-2-20 - Bonds - Investment of Proceeds.

Section 14-2-20Bonds - Investment of proceeds. Any portion of the principal proceeds derived from the sale of the bonds which the board of directors of the authority may determine is not then needed for any of the purposes for which the bonds are authorized to be issued shall, on order of the authority, be invested by the State Treasurer in any securities which are direct and general obligations of the United States of America or the principal of and interest on which are unconditionally and irrevocably guaranteed by the United States of America. Any such securities may, at any time and from time to time on order of the authority, be sold or otherwise converted by the State Treasurer into cash. The income derived from any such investments shall be disbursed on order of the authority for any purpose for which it may lawfully expend funds. (Acts 1965, No. 678, p. 1226, §15.)
AL Code § 14-2-22 (2021)
2021 Code of Alabama|Title 14 - Criminal Correctional and Detention Facilities.|Chapter 2 - Alabama Corrections Institution Finance Authority.|Section 14-2-22 - Bonds - Enforcement Upon Default.

Section 14-2-22Bonds - Enforcement upon default. If there be any default by the authority in the payment of the principal of or interest on the bonds or in any of the agreements on the part of the authority which may properly be included in any resolution or indenture of trust securing such bonds, any holder of any of the bonds or the trustee for the bondholders under any resolution or indenture of trust, if so authorized therein, may, by an action, mandamus or other proceedings, enforce payment of such items and foreclosure upon any mortgage or security interest granted as security for such bonds and compel performance of all duties of the directors and officers of the authority and shall be entitled, as a matter of right and regardless of the sufficiency of any such security or the availability of any other remedy, to the appointment of a receiver with all the power of such receiver for the maintenance, insurance and leasing of the facilities and property covered by such resolution or such indenture of trust and the collection and application of the receipts therefrom. Any such resolution or indenture of trust may contain provisions regarding the rights and remedies of any trustee thereunder and the holders of the bonds and may contain provisions restricting the individual rights of action of the holders of the bonds. (Acts 1965, No. 678, p. 1226, §26; Acts 1985, 1st Ex. Sess., No. 85-125, p. 187, §10.)
AL Code § 14-2-23 (2021)
2021 Code of Alabama|Title 14 - Criminal Correctional and Detention Facilities.|Chapter 2 - Alabama Corrections Institution Finance Authority.|Section 14-2-23 - Bonds - Bonds and Coupons Deemed Negotiable Instruments.

Section 14-2-23Bonds - Bonds and coupons deemed negotiable instruments. All bonds issued by the authority, while not registered, shall be construed to be negotiable instruments even though they are payable from a limited source. All coupons applicable to any bonds issued by the authority, while the applicable bonds are not registered as to both principal and interest, shall likewise be construed to be negotiable instruments although payable from a limited source. (Acts 1965, No. 678, p. 1226, §17.)
AL Code § 14-2-24 (2021)
2021 Code of Alabama|Title 14 - Criminal Correctional and Detention Facilities.|Chapter 2 - Alabama Corrections Institution Finance Authority.|Section 14-2-24 - Obligations, Bonds, and Notes Not Debt of State.

Section 14-2-24Obligations, bonds and notes not debt of state. All obligations incurred by the authority and all bonds and notes issued by it shall be solely and exclusively an obligation of the authority, payable solely from the revenues and income which may under the provisions of this chapter be pledged to the payment thereof. No obligation incurred by the authority and no bond or note issued by it shall create an obligation or debt of the state. (Acts 1965, No. 678, p. 1226, §18; Acts 1967, Ex. Sess., No. 103, p. 131.)
AL Code § 14-2-25 (2021)
2021 Code of Alabama|Title 14 - Criminal Correctional and Detention Facilities.|Chapter 2 - Alabama Corrections Institution Finance Authority.|Section 14-2-25 - Conveyance of Property by State; Right to Possession Thereof; Consideration Therefor.

Section 14-2-25Conveyance of property by state; right to possession thereof; consideration therefor. The Governor of the state is authorized to execute and deliver, at any time and from time to time, an appropriate deed or deeds conveying to the authority:  (1) The Kilby property, (2) Any unimproved real property belonging to the state in any county which the department determines to be needed by the authority for the construction of facilities, and (3) Any improved real property and any personal property associated therewith, belonging to the state in any county which the department determines to be needed by the authority for the construction, reconstruction or improvement of facilities.  Upon delivery of such deed to the authority, it thereby shall be invested with all right and title that the state had in the property conveyed thereby, subject to the right of reverter to the state of all such property, except such parts of the Kilby property as shall be sold as authorized in Section 14-2-26, upon the dissolution of the authority. The authority shall be entitled to immediate possession of all such property upon execution of the deed thereto, but it shall not have the right to possession of the Kilby property, or any portion or parcel thereof, until such time or times as the board shall determine that such property, or a portion or parcel, is not required by it for penal or correctional use. The consideration for said conveyance shall be the authority's agreement to reconvey to the state all said property, except portions of the Kilby property, which have been disposed of, with all improvements thereon, free of charge, immediately before the dissolution of the authority. Since the state will receive back in free rent or earlier reconveyance of facilities the full value of the Kilby property and since other property to be conveyed to and utilized by the authority would not otherwise be improved or further improved, said consideration is hereby conclusively determined to be valuable, adequate and fair. Immediately prior to its dissolution, the authority shall also convey to the state all other assets acquired by the authority, whether by purchase, gift, grant or otherwise, provided the terms of the grant are not violated thereby. (Acts 1965, No. 678, p. 1226, §22; Acts 1985, 1st Ex. Sess., No. 85-125, p. 187, §11.)
AL Code § 14-2-27 (2021)
2021 Code of Alabama|Title 14 - Criminal Correctional and Detention Facilities.|Chapter 2 - Alabama Corrections Institution Finance Authority.|Section 14-2-27 - Kilby Property - Lease to United States Environmental Protection Agency.

Section 14-2-27Kilby property - Lease to United States Environmental Protection Agency. Notwithstanding the provisions of this chapter to the contrary, the authority is authorized, in its discretion, to continue to lease to the Environmental Protection Agency of the United States of America approximately 11.8 acres of land, bounded on the north by Federal Drive, on the south and east by Gunter Air Force Base and on the west by Three-Mile Branch, of the Kilby property in the County of Montgomery known as the Eastern Radiological Laboratory and to give to the Environmental Protection Agency of the United States of America the improvements thereon consisting of four frame buildings for the purpose of maintaining and operating an environmental laboratory by said Environmental Protection Agency. Such lease is to be made upon the same terms, conditions and provisions upon which said land is presently leased; however, no such lease shall be for a term longer than the then current fiscal year of the state, but such lease may contain a grant of successive options of renewing said lease on the terms specified therein for any subsequent fiscal year or years. The authority may continue such lease for so long as the said Environmental Protection Agency maintains and operates an environmental laboratory on said land and for so long as such lease does not materially impair the security of any bonds issued by said authority. (Acts 1971, No. 2055, p. 3306.)
AL Code § 14-2-28.1 (2021)
2021 Code of Alabama|Title 14 - Criminal Correctional and Detention Facilities.|Chapter 2 - Alabama Corrections Institution Finance Authority.|Section 14-2-28.1 - Facilities - Determination on Provider of Telephone Service.

Section 14-2-28.1Facilities - Determination on provider of telephone service. When a facility is constructed with the proceeds from any bonds issued under this chapter, a determination on the provider of telephone service for the facility shall be made by the Joint Legislative Oversight Committee on Corrections. (Acts 1992, No. 92-587, p. 1209, §6.)
AL Code § 14-2-30 (2021)
2021 Code of Alabama|Title 14 - Criminal Correctional and Detention Facilities.|Chapter 2 - Alabama Corrections Institution Finance Authority.|Section 14-2-30 - Facilities - Leasing - County, Municipal Corporation, Agency of Federal Government, Etc.

Section 14-2-30Facilities - Leasing - County, municipal corporation, agency of federal government, etc. If at any time any facility constructed by the authority is, or is about to be, vacant or unused as a result of there being no lease for such facility in effect for the current fiscal year, then, but only in such event, in order to prevent default on its bonds, the authority is hereby authorized to lease such facility to any other agency, department, bureau or commission of the state, any municipal corporation, public corporation, county, or other public body in the state, or any agency of the federal government other than the original lessee of said facility. Any such lease shall not be for the purpose of lending public credit but shall be solely to avoid default on the authority's bonds and to insure the prompt payment of the principal thereof and interest thereon when due. (Acts 1965, No. 678, p. 1226, §25; Acts 1985, 1st Ex. Sess., No. 85-125, p. 187, §14.)
AL Code § 14-2-30.1 (2021)
2021 Code of Alabama|Title 14 - Criminal Correctional and Detention Facilities.|Chapter 2 - Alabama Corrections Institution Finance Authority.|Section 14-2-30.1 - This Section Was Assigned by the Code Commissioner in the 2021 Special Session, Effective October 1, 2021. This Is Not in the Current Code Supplement.

Section 14-2-30.1THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2021 SPECIAL SESSION, EFFECTIVE OCTOBER 1, 2021. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.  The state, through any of its departments or agencies or a subdivision thereof, shall lease or purchase upon commercially reasonable terms, or a combination thereof, the existing prison facility in Perry County to be utilized by the department or any other state department or agency using funds appropriated for that purpose from the State General Fund. (Act 2021-546, §4.)
AL Code § 14-2-31 (2021)
2021 Code of Alabama|Title 14 - Criminal Correctional and Detention Facilities.|Chapter 2 - Alabama Corrections Institution Finance Authority.|Section 14-2-31 - Special Funds.

Section 14-2-31Special funds. In the resolution or proceedings authorizing the issuance of any bonds, any temporary loans or in any indenture of trust, the authority may provide for the establishment of one or more special funds for the payment of the principal of, or interest on, the bonds, certificates or notes, one or more reserve funds therefor and a fund, or funds, for the payment of insurance premiums or other expenses with respect to the ownership and leasing of the facilities or for the expense of selling and leasing the Kilby property. Any such special funds shall be held as trust funds by the State Treasurer separate and apart from all other moneys. The State Treasurer is authorized and directed to pay, solely from the special fund, or funds, provided therefor, the principal of and interest on all bonds issued under this chapter as such principal and interest respectively mature and come due and the redemption price of any bonds called prior to maturity. He shall establish and maintain appropriate records pertaining to such funds. Such records shall be available at all reasonable times to public inspection. (Acts 1965, No. 678, p. 1226, §27.)
AL Code § 14-2-32 (2021)
2021 Code of Alabama|Title 14 - Criminal Correctional and Detention Facilities.|Chapter 2 - Alabama Corrections Institution Finance Authority.|Section 14-2-32 - Exemption From Taxation.

Section 14-2-32Exemption from taxation. The properties of the authority and the income therefrom, all lease agreements made by the authority and all bonds issued by the authority, the coupons applicable thereto, the income therefrom and all lien notices with respect thereto shall be forever exempt from any and all taxation in the State of Alabama. (Acts 1965, No. 678, p. 1226, §16.)
AL Code § 14-2-33 (2021)
2021 Code of Alabama|Title 14 - Criminal Correctional and Detention Facilities.|Chapter 2 - Alabama Corrections Institution Finance Authority.|Section 14-2-33 - Venue for Actions.

Section 14-2-33Venue for actions. Any action to protect or enforce any rights under the provisions of this chapter shall be brought in the circuit court of Montgomery County, Alabama. (Acts 1965, No. 678, p. 1226, §28.)