reglab/housing_qa huggingface dataset:
AL Code § 2-6-85 (2021)
2021 Code of Alabama|Title 2 - Agriculture.|Chapter 6 - Agricultural Center.|Article 4 - Alabama Agricultural Markets and Coliseum Corporation.|Section 2-6-85 - Exemption of Securities From Taxation.

Section 2-6-85Exemption of securities from taxation. All securities issued by the corporation and any redemption premium and any interest thereon, the properties of the corporation and any income realized from rents or leases obtained from operation of any market facility constructed under the provision of this article, or any income realized from rents or leases from any source or business under the control of the Agricultural Center Board, and all instruments which may be filed for record pertaining to the pledge and lien authorized by this article to be created, shall be exempt from all taxation in the state. (Acts 1984, No. 84-252, p. 405, §16.)
AL Code § 2-6-86 (2021)
2021 Code of Alabama|Title 2 - Agriculture.|Chapter 6 - Agricultural Center.|Article 4 - Alabama Agricultural Markets and Coliseum Corporation.|Section 2-6-86 - Dissolution of Corporation.

Section 2-6-86Dissolution of corporation. When all securities issued by the corporation and all obligations incurred by it under the provisions of, and within the limitations contained in this article, shall have been fully paid, then the members of the board of directors of the corporation may at such time file with the Secretary of State a written statement subscribed and sworn to by them, reciting payment in full of all securities of the corporation, and all obligations incurred by it under the provisions of this article, which statement shall then be recorded by the Secretary of State with the certificate of incorporation of the corporation, whereupon the corporation shall stand dissolved. (Acts 1984, No. 84-252, p. 405, §17.)
AL Code § 2-6-100 (2021)
2021 Code of Alabama|Title 2 - Agriculture.|Chapter 6 - Agricultural Center.|Article 5 - Garrett Coliseum Redevelopment Act.|Section 2-6-100 - Short Title.

Section 2-6-100Short title.  This article shall be known as the "Garrett Coliseum Redevelopment Act."  (Act 2011-575, p. 1231, §1.)
AL Code § 2-6-101 (2021)
2021 Code of Alabama|Title 2 - Agriculture.|Chapter 6 - Agricultural Center.|Article 5 - Garrett Coliseum Redevelopment Act.|Section 2-6-101 - Definitions.

Section 2-6-101Definitions.  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 directors of the Garrett Coliseum Redevelopment Corporation, the public corporation created pursuant to this article.  (3) BONDS. Includes refunding bonds unless the context clearly indicates otherwise. (4) GARRETT COLISEUM or COLISEUM. The Alabama Agricultural Center, the Garrett Coliseum, and all related properties located in Montgomery, Alabama. (5) GARRETT COLISEUM REDEVELOPMENT CORPORATION or CORPORATION. The public corporation created pursuant to this article.  (6) GOVERNMENT SECURITIES. Any bonds or other obligations which, as to principal and interest, constitute direct obligations of, or are unconditionally guaranteed by, the United States of America, including obligations of any federal agency to the extent such obligations are unconditionally guaranteed by the United States of America. (7) PERMITTED INVESTMENTS. The term shall include all of following: a. Government securities. b. Time deposits evidenced by certificates of deposit issued by banks which are members of the Federal Deposit Insurance Corporation; provided, that, to the extent such time deposits exceed available federal deposit insurance, such time deposits are fully secured by government securities, which at all times have a market value, exclusive of accrued interest, at least equal to such bank time deposits so secured, including interest. c. Repurchase agreements for obligations of the type specified in paragraphs a. and b., provided such repurchase agreements are fully collateralized and secured by such obligations which have a market value, exclusive of accrued interest, at least equal to the purchase price of such repurchase agreements and which are held by a depository satisfactory to the corporation in such manner as may be required to provide a perfected security interest in such obligations. d. Uncollateralized investment agreements with, or certificates of deposit issued by, banks or bank holding companies, the senior long-term securities of which are rated at least "AA" by Standard & Poor's Corporation and at least "Aa" by Moody's Investors Service. (8) PROJECT. The coliseum and any existing or new buildings or facilities located on coliseum properties or properties that become coliseum properties. (9) PROJECT WORK. The renovation, restoration, improvement, or rehabilitation of the coliseum or any buildings or facilities located on coliseum properties or properties that shall become coliseum properties and the construction of new buildings or facilities on coliseum properties. (Act 2011-575, p. 1231, §2.)
AL Code § 2-6-102 (2021)
2021 Code of Alabama|Title 2 - Agriculture.|Chapter 6 - Agricultural Center.|Article 5 - Garrett Coliseum Redevelopment Act.|Section 2-6-102 - Public Corporation - Formation Authorized.

Section 2-6-102Public corporation - Formation authorized. 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. (Act 2011-575, p. 1231, §4.)
AL Code § 2-6-103 (2021)
2021 Code of Alabama|Title 2 - Agriculture.|Chapter 6 - Agricultural Center.|Article 5 - Garrett Coliseum Redevelopment Act.|Section 2-6-103 - Public Corporation - Application for Formation; Certificate of Incorporation.

Section 2-6-103Public corporation - Application for formation; certificate of 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 designation, and official residence of each of the applicants together with a certified copy of the document evidencing each applicant's right to office. (2) The date on which each applicant was inducted into office and the term of office. (3) The name of the proposed public corporation, which shall be the Garrett Coliseum Redevelopment Corporation. (4) The location of the principal office of the proposed public corporation, which shall be Montgomery, Alabama. (5) Any other information relating to the proposed public corporation which the applicants may choose to include which is not inconsistent with this article.  (b) The application shall be sworn and subscribed to by each of the applicants before an officer authorized by the laws of the state to take acknowledgments to deeds. The Secretary of State shall examine the application and, if he or she finds that it substantially complies with the requirements of this section, he or she shall receive and file it and record it in an appropriate book of records in his or her office. (c) When the application has been filed and recorded as provided in this section, the Secretary of State shall issue to the applicants a certificate of incorporation under the Great Seal of the State, and shall record the certificate with the application, whereupon the applicants shall constitute a public corporation of the state under the name proposed in the application. No fee shall be paid to the Secretary of State for any work done in connection with the incorporation or dissolution of the corporation. (Act 2011-575, p. 1231, §5.)
AL Code § 2-6-104 (2021)
2021 Code of Alabama|Title 2 - Agriculture.|Chapter 6 - Agricultural Center.|Article 5 - Garrett Coliseum Redevelopment Act.|Section 2-6-104 - Public Corporation - Board of Directors.

Section 2-6-104Public corporation - Board of directors.  (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 quorum for the transaction of business. No vacancy on the board or the voluntary disqualification or abstention of any director shall impair the right of a quorum of the board to act. (b) The board of directors shall be the same as the Agricultural Center Board. (c) All resolutions adopted by the board of directors shall constitute actions of the corporation, and all proceedings of the board shall be reduced to writing by the secretary and shall be recorded in a substantially bound book and filed in the office of the Director of Finance. Copies of such proceedings, when certified by the secretary under seal of the corporation, shall be received in all courts as prima facie evidence of the matters and things certified. The board shall meet at any time and upon notice as it shall determine or upon the call of the president or the vice president. (Act 2011-575, p. 1231, §6.)
AL Code § 2-6-105 (2021)
2021 Code of Alabama|Title 2 - Agriculture.|Chapter 6 - Agricultural Center.|Article 5 - Garrett Coliseum Redevelopment Act.|Section 2-6-105 - Public Corporation - Powers.

Section 2-6-105Public corporation - Powers.  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 that may have jurisdiction of the subject matter and of the parties. (3) To have and use a corporate seal and to alter the seal at pleasure. (4) To make and alter all needful bylaws and rules for the transaction of the corporation's business and the control of its property and affairs. (5) To enter into agreements of any nature with any public or private entity regarding the construction, renovation, restoration, improvement, maintenance, management, or operation of the project or any properties or facilities constituting a part of the project. (6) To take all actions and enter into all agreements necessary or appropriate to complete the project work. (7) To acquire, purchase, lease, receive, hold, transmit, and convey title to real and personal property to or from any person or legal entity, public or private. (8) To borrow money and issue its bonds in evidence thereof, subject to this article. (9) As security for payment of the principal of and interest on its bonds, to pledge any funds or revenues from which its bonds may be made payable and to arrange for and provide additional security for its bonds, including letters of credit, bond insurance policies, surety bonds and the like, as the board of directors shall determine to be necessary or desirable. (10) To make and enter into such contracts, leases, agreements, and other actions as may be necessary or desirable to accomplish any corporate purpose and to exercise any power necessary for the accomplishment of the purposes of the corporation or incidental to the powers expressly set forth in this section, including, but not limited to, financing agreements and other such agreements with public and private entities and local governments. (11) To appoint and employ attorneys, accountants, financial advisors, underwriters, trustees, depositories, registrars, fiscal agents, and other advisors, agents, and independent contractors as may be necessary or desirable. (12) To accept gifts, grants, loans, appropriations, and other forms of aid from the federal government, the state or any agency of the state, or any political subdivision of the state, or any person or corporation. (Act 2011-575, p. 1231, §7.)
AL Code § 2-6-106 (2021)
2021 Code of Alabama|Title 2 - Agriculture.|Chapter 6 - Agricultural Center.|Article 5 - Garrett Coliseum Redevelopment Act.|Section 2-6-106 - Deed to Coliseum.

Section 2-6-106Deed to coliseum. 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 delivery of the deed to the corporation, the corporation shall be vested with all title and rights which the State of Alabama has in the property conveyed, subject to a right of reverter to the state upon dissolution of the corporation. (Act 2011-575, p. 1231, §8.)
AL Code § 2-6-107 (2021)
2021 Code of Alabama|Title 2 - Agriculture.|Chapter 6 - Agricultural Center.|Article 5 - Garrett Coliseum Redevelopment Act.|Section 2-6-107 - Lease of Project.

Section 2-6-107Lease of project.  (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, commission, bureau, or department of the state and each of them are authorized to lease any facilities from the corporation. Any lease as described in this section shall, however, be either of the following: (1) For a term no longer than the then current fiscal year of the state, but any such lease may contain a grant to the lessee of successive options of renewing the lease on the terms specified in the lease for any subsequent fiscal year or years of the state; provided, that liability for the payment of rent shall never be for a term longer than one fiscal year. (2) Provide that in no event rentals may be paid from moneys appropriated by the state and that rentals shall be paid solely from revenues derived from the operation of the project to the extent that such revenues are not attributable to facilities or operations in existence at the time of the transfer of the coliseum and related properties to the corporation. (b) Any lease agreement may contain any other provisions and agreements not inconsistent with this article, as the corporation may agree. (Act 2011-575, p. 1231, §9.)
AL Code § 2-6-108 (2021)
2021 Code of Alabama|Title 2 - Agriculture.|Chapter 6 - Agricultural Center.|Article 5 - Garrett Coliseum Redevelopment Act.|Section 2-6-108 - Design, Rehabilitation, Renovation, etc., of Coliseum.

Section 2-6-108Design, rehabilitation, renovation, etc., of coliseum. (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 or the AACB, as the case may be, shall select a developer, manager, promoter, or operator through an open and competitive selection process through the solicitation of proposals from qualified entities that address the needs, requirements, and funding issues it identifies. The corporation or the AACB, as the case may be, in its sole discretion, shall select the entity or entities it determines to be the best qualified based upon the proposals submitted, presentations by proposers, its deliberations, and any other information it considers to be relevant to the selection of the best qualified proposer. No further or additional reviews or approvals by any official or entity shall be required. (b) All receipts, revenues, and income derived by either the AACB or the corporation from the operation or leasing of the project shall be applied solely for the following purposes:  (1) To insure and maintain in good and operable condition the various properties and facilities that comprise the project. (2) To pay the debt service on the bonds of the corporation. (c) The AACB and the corporation are authorized to establish accounts and funds as they deem appropriate to provide for the custody and disbursement of such moneys. Any provision of law to the contrary notwithstanding, in no event shall any of such receipts, revenues, or income: (1) Be combined or commingled with moneys appropriated by the state. (2) Revert to, or otherwise become a part of, the General Fund in the State Treasury. (d) Any funds that are not needed to pay the costs of insuring and maintaining the project shall be transferred, as soon as practicable, to the special fund provided for in Section 2-6-118. (Act 2011-575, p. 1231, §10.)
AL Code § 2-6-109 (2021)
2021 Code of Alabama|Title 2 - Agriculture.|Chapter 6 - Agricultural Center.|Article 5 - Garrett Coliseum Redevelopment Act.|Section 2-6-109 - Eminent Domain.

Section 2-6-109Eminent domain.  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. (Act 2011-575, p. 1231, §11.)
AL Code § 2-6-110 (2021)
2021 Code of Alabama|Title 2 - Agriculture.|Chapter 6 - Agricultural Center.|Article 5 - Garrett Coliseum Redevelopment Act.|Section 2-6-110 - Bonds.

Section 2-6-110Bonds.  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 purpose of providing funds for the project work and for payment of obligations incurred for such purpose, as well as the payment of issuance expenses and the establishment of a debt service reserve fund. (Act 2011-575, p. 1231, §12.)
AL Code § 2-6-111 (2021)
2021 Code of Alabama|Title 2 - Agriculture.|Chapter 6 - Agricultural Center.|Article 5 - Garrett Coliseum Redevelopment Act.|Section 2-6-111 - Refunding Bonds.

Section 2-6-111Refunding bonds.  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 refunded. (Act 2011-575, p. 1231, §13.)
AL Code § 2-6-112 (2021)
2021 Code of Alabama|Title 2 - Agriculture.|Chapter 6 - Agricultural Center.|Article 5 - Garrett Coliseum Redevelopment Act.|Section 2-6-112 - Execution, Authentication, and Delivery of Bonds.

Section 2-6-112Execution, authentication, and delivery of bonds.  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 imprinted on the bonds if the board of directors, in its proceedings with respect to issuance of such bonds, provides for manual authentication of such bonds by a trustee or paying agent or by named individuals who are employees of the state and who are assigned to the Department of Finance or office of the State Treasurer. Delivery of bonds so executed shall be valid notwithstanding any changes in officers or in the seal of the corporation after the signing and sealing of the bonds. (Act 2011-575, p. 1231, §14.)
AL Code § 2-6-113 (2021)
2021 Code of Alabama|Title 2 - Agriculture.|Chapter 6 - Agricultural Center.|Article 5 - Garrett Coliseum Redevelopment Act.|Section 2-6-113 - Sale of Bonds.

Section 2-6-113Sale of bonds.  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 in the respective resolutions under which the different series are issued. Each series of the bonds may be sold at public or private sale, as determined by the corporation, at such price or prices as the corporation shall determine, and, if sold at public sale either on sealed bids or at public auction, on a basis determined by the corporation to enable it to effect the sale of the bonds being sold at the lowest effective borrowing cost to the corporation; provided, that if in the event of public sale of the bonds no bid acceptable to the corporation is received it may reject all bids. Notice of each public sale or summary notice of sale or both shall be given by publication in either a financial journal or a financial newspaper published in the City of New York, New York, at least one time not less than 10 days prior to the date fixed for the sale. The board of directors may fix the terms and conditions under which each such sale may be held; provided, that such terms and conditions shall not conflict with any of the requirements of this article. (Act 2011-575, p. 1231, §15.)
AL Code § 2-6-114 (2021)
2021 Code of Alabama|Title 2 - Agriculture.|Chapter 6 - Agricultural Center.|Article 5 - Garrett Coliseum Redevelopment Act.|Section 2-6-114 - Form and Contents of Bonds; Redemption.

Section 2-6-114Form and contents of bonds; redemption.  (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 provisions for redemption prior to maturity, and may contain other provisions not inconsistent herewith, all as may be provided by the resolution of the board of directors whereunder such bonds are authorized to be issued; provided, that no bond of the corporation shall have a specified maturity date later than 30 years after its date. Each bond of the corporation may be made subject to redemption at the option of the corporation under such terms and conditions and at such premiums, if any, as may be provided in the resolution under which the bond is authorized to be issued. The corporation may pay out of the proceeds of the sale of its bonds all expenses, including fees and disbursements of attorneys, accountants, fiscal agents, financial advisors, and other consultants, fees and disbursements of trustees, escrow agents, registrars, paying agents, transfer agents, depositories for safekeeping, authenticating agents, agents for the delivery and payment of bonds, fees and commissions of bond insurers, and credit enhancers, printing costs, and other customary bond issuance expenses. (b) Bonds issued by the corporation shall not be general obligations of the corporation, but shall be payable solely out of the funds referred to in Section 2-6-118. In the event the corporation shall make more than one pledge of the same revenues, the pledges shall take precedence in the order of the adoption of the resolutions in which the pledges are made. Neither a public hearing nor consent of the Department of Finance or any other department or agency of the state shall be a prerequisite to the issuance of bonds by the corporation. (Act 2011-575, p. 1231, §16.)
AL Code § 2-6-115 (2021)
2021 Code of Alabama|Title 2 - Agriculture.|Chapter 6 - Agricultural Center.|Article 5 - Garrett Coliseum Redevelopment Act.|Section 2-6-115 - Investment of Proceeds.

Section 2-6-115Investment of proceeds.  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 securities, at any time and from time to time on order of the corporation, may be sold or otherwise converted into cash. The income derived from any investments shall be disbursed on order of the corporation for any purpose for which the corporation may lawfully expend funds. (Act 2011-575, p. 1231, §17.)