reglab/housing_qa huggingface dataset:
AL Code § 41-10-307 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 10 - Alabama Space Science Exhibit Finance Authority.|Section 41-10-307 - Powers of Authority.

Section 41-10-307Powers of authority. The authority shall have the following powers among others specified in this article: (1) To have succession in its corporate name until the principal of and interest on all bonds issued by it shall have been fully paid and until it shall have been dissolved as provided herein; (2) To maintain actions and have actions maintained against it and to prosecute and defend in any court having jurisdiction of the subject matter and of the parties thereof; (3) To have and to use a corporate seal and to alter such seal at pleasure; (4) To establish a fiscal year; (5) To acquire and hold title to real and personal property and to sell, convey, mortgage or lease the same as provided in this article; (6) To provide for the construction, reconstruction, alteration and improvement of facilities and for the procurement of sites and equipment for such facilities and for the lease thereof; (7) To lease facilities to the state, the commission or any other agency or instrumentality of the state designated to perform the activities of the commission; (8) To anticipate by the issuance of its bonds, subject to the provisions of this article, the receipt of the rent and revenues from such facilities; (9) As security for the payment of the principal of and interest on its bonds, to enter into any lawful covenant, to grant mortgages upon or security interests in its facilities and to pledge the rents and revenues from such facilities; (10) To appoint a bank or savings and loan association as a depositary for funds of the authority; (11) To invest as provided in this article the proceeds from the sale of its bonds pending need therefor; and (12) To appoint and employ such attorneys, agents and employees as the business of the authority may require, subject to the Merit System where applicable. (Acts 1986, No. 86-546, p. 1093, §8.)
AL Code § 41-10-308 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 10 - Alabama Space Science Exhibit Finance Authority.|Section 41-10-308 - Temporary Loans in Anticipation of Issuance of Bonds.

Section 41-10-308Temporary loans in anticipation of issuance of bonds. In anticipation of issuance of bonds under this article, the authority may, from time to time, borrow such sums as may be needed for any of the purposes for which bonds are authorized to be issued under this article, and in evidence of the moneys so borrowed may issue its promissory notes. The principal of and the interest on notes so issued may, from time to time, be refunded by refunding notes or by bonds in anticipation of the issuance of which such notes were issued. All such notes, whether initial issues or refunding issues, may bear interest from their dates until their maturities at such rate or rates as may be deemed acceptable by the board of directors, not to exceed 15 percent per annum, shall mature within three years from their date, and the principal thereof, premium, if any, and interest thereon shall be payable solely from the proceeds of the refunding notes issued to refund any such notes outstanding, the proceeds from the sale of bonds in anticipation of the issuance of which any such notes were issued and the sources from which bonds may be made payable pursuant to Section 41-10-319, all as may be provided in the resolution of the board of directors under which such notes may be issued. (Acts 1986, No. 86-546, p. 1093, §9.)
AL Code § 41-10-309 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 10 - Alabama Space Science Exhibit Finance Authority.|Section 41-10-309 - Execution of Bonds and Notes.

Section 41-10-309Execution of bonds and notes. The bonds and notes of the authority shall be executed by the manual or facsimile signature of either its president or its treasurer, as shall be provided in the resolution under which such securities shall be issued, and the seal of the authority or a facsimile thereof shall be affixed to any bonds so issued and attested by the manual or facsimile signature of its secretary; provided, that if bonds are executed entirely by facsimile, such bonds shall be authenticated by the manual signature of the bond trustee, registrar or paying agent. If, after any of the bonds shall be so signed, whether manually or by facsimile, any such officer shall for any reason vacate his said office, the bonds so signed may nevertheless be delivered at any time thereafter as the act and deed of the authority. (Acts 1986, No. 86-546, p. 1093, §10.)
AL Code § 41-10-310 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 10 - Alabama Space Science Exhibit Finance Authority.|Section 41-10-310 - Authority to Issue Bonds.

Section 41-10-310Authority to issue bonds. For the purpose of providing funds for the acquisition of sites, for the construction, reconstruction, alteration and improvement of facilities, for the procurement and installation of equipment therefor and for payment of obligations incurred and the principal of and interest on any temporary loans made for any of the said purposes, the authority is hereby authorized, from time to time, to sell and issue its bonds (other than refunding bonds) in such aggregate principal amounts as may be determined by the board of directors of the authority to be necessary for the said purposes. (Acts 1986, No. 86-546, p. 1093, §11.)
AL Code § 41-10-311 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 10 - Alabama Space Science Exhibit Finance Authority.|Section 41-10-311 - Authority to Issue Refunding Bonds.

Section 41-10-311Authority to issue refunding bonds. The authority may, from time to time, sell and issue its refunding bonds for the purpose of refunding any matured or unmatured bonds of the authority at the time outstanding and paying any premiums necessary to be paid to redeem any such bonds so to be refunded and all expenses incurred in connection therewith. Such refunding bonds shall be subrogated and entitled to all priorities, rights and pledges to which the bonds refunded thereby were entitled. (Acts 1986, No. 86-546, p. 1093, §12.)
AL Code § 41-10-312 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 10 - Alabama Space Science Exhibit Finance Authority.|Section 41-10-312 - Specifications and Priority of Bonds.

Section 41-10-312Specifications and priority of bonds. 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, fixed or floating, 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 board of directors 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. In the event that the authority shall make more than one pledge of the same revenues, such pledges shall, unless otherwise provided in the resolution or resolutions authorizing the earlier issued bonds, take precedence in the order of the adoption of the resolutions in which the pledges are made; provided, that each pledge for the benefit of refunding bonds shall have the same priority as the pledge for the benefit of the bonds refunded thereby. (Acts 1986, No. 86-546, p.1093, §13.)
AL Code § 41-10-313 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 10 - Alabama Space Science Exhibit Finance Authority.|Section 41-10-313 - Price of Bonds; Competitive Bidding; Notice of Sale; Expenses of Sale.

Section 41-10-313Price of bonds; competitive bidding; notice of sale; expenses of sale. Bonds of the authority may be sold at such price or prices and at such time or times as the board of directors of the authority may consider advantageous, at public or private sale. If bonds are to be sold by competitive bid on sealed bids or at public auction, the bonds may be sold only to the bidder whose bid reflects the lowest effective borrowing 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. Notice of each such sale by competitive bids shall be given by publication in either a financial journal or a financial newspaper published in the City of New York, New York, and also by publication in a newspaper published in the State of Alabama, each of which notices must be published at least one time not less than 10 days before the date fixed for such sale. The board of directors may fix the terms and conditions under which such sale by competitive bids may be held; provided that such terms and conditions shall not conflict with any of the requirements of this article. The authority may pay out of the proceeds of the sale of its bonds all expenses, including publication and printing charges, fiscal agents' fees, attorneys' fees and other expenses which said board of directors may deem necessary and advantageous in connection with the authorization, advertisement, sale, execution and issuance of such bonds. Neither a public hearing nor consent of the state shall be a prerequisite to the issuance or sale of bonds by the authority. (Acts 1986, No. 86-546, p. 1093, §14.)
AL Code § 41-10-314 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 10 - Alabama Space Science Exhibit Finance Authority.|Section 41-10-314 - Investment of Trust Funds in Bonds of Authority.

Section 41-10-314Investment of trust funds in bonds of authority. Any 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 1986, No. 86-546, p. 1093, §15.)
AL Code § 41-10-315 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 10 - Alabama Space Science Exhibit Finance Authority.|Section 41-10-315 - Security for Deposit of Governmental Funds.

Section 41-10-315Security 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 1986, No. 86-546, p. 1093, §16.)
AL Code § 41-10-316 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 10 - Alabama Space Science Exhibit Finance Authority.|Section 41-10-316 - Disposition of Proceeds of Bonds.

Section 41-10-316Disposition of proceeds of bonds. (a) All proceeds derived from the sale of any bonds, except refunding bonds, sold by the authority, remaining after payment of the expenses of issuance thereof, shall be held by the authority and used solely for the purposes of: (1) Acquiring land for and constructing, reconstructing and equipping thereon one or more facilities; (2) Paying all reasonable and necessary expenses incidental thereto, including filing, recording, surveying, legal and engineering fees and expenses; (3) Paying the interest which will accrue on the said bonds during the period required for the construction and equipment of the said facilities and for a period not exceeding six months after the completion thereof; and (4) Paying the principal of and interest on all then outstanding notes theretofore issued by the authority pursuant to the provisions hereof. The balance of the said proceeds thereafter remaining shall be set aside as additional security for the bonds or shall be used to pay, purchase or redeem bonds as may be provided in the proceedings authorizing their issuance. (b) All proceeds from the sale of refunding bonds issued by the authority that remain after paying the expenses of their issuance may be used only for the purpose of refunding the principal of and any unpaid and accrued interest on the outstanding bonds of the authority for the refunding of which the refunding bonds are authorized to be issued, together with any premium that may be necessary to be paid in order to redeem or retire such outstanding bonds. (Acts 1986, No. 86-546, p. 1093, §17.)
AL Code § 41-10-317 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 10 - Alabama Space Science Exhibit Finance Authority.|Section 41-10-317 - Investment of Proceeds.

Section 41-10-317Investment 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 in such manner as the board of directors of the authority shall direct 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, or in certificates of deposit insured by an agency of the United States. Any such securities may, at anytime and from time to time on order of the authority, be sold or otherwise converted 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 1986, No. 86-546, p. 1093, §18.)
AL Code § 41-10-318 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 10 - Alabama Space Science Exhibit Finance Authority.|Section 41-10-318 - Security for Bonds.

Section 41-10-318Security for bonds. The principal of, premium, if any, and interest on the bonds of the authority shall be secured by any or all of the following, as the authority may determine: (1) The rent and revenues from the lease or use of one or more facilities of the authority; (2) The proceeds from any sale of any facilities of the authority; (3) Any bond proceeds remaining unexpended upon completion of all facilities to be constructed with such bond proceeds and the payment of the cost thereof; (4) Any insurance proceeds which the authority may receive by reason of its ownership of any of the facilities; and (5) Any mortgage upon or security interest in one or more facilities of the authority, granted in connection with the issuance of such bonds. The authority shall have authority to transfer and assign any lease or mortgage of any of its facilities as security for the payment of such principal, premium, if any, and interest. The bonds may be issued under, and secured by, a resolution which may, but need not, provide for an indenture of trust covering one or more facilities of the authority. Such resolution or such indenture of trust may contain any provision or agreement customarily contained in instruments securing evidences of indebtedness, including, without limiting the generality of the foregoing, provisions respecting the collection and application of any receipts pledged to the payment of bonds, the terms to be incorporated in lease agreements respecting the facilities, the maintenance and insurance thereof, the creation and maintenance of reserve and other special funds from such receipts and the rights and remedies available in the event of default to the holders of the bonds or to the trustee for the holders of the bonds or under any indenture of trust, all as the authority may deem advisable and as shall not be in conflict with the provisions of this article; provided, however, that in making such agreements or provisions the authority shall not have the power to obligate itself except with respect to its facilities, and the application of the rents, revenues and other moneys and assets which it is authorized in this article to pledge. (Acts 1986, No. 86-546, p. 1093, §19.)
AL Code § 41-10-319 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 10 - Alabama Space Science Exhibit Finance Authority.|Section 41-10-319 - Rights of Holders of Bonds Upon Default.

Section 41-10-319Rights of holders of bonds 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 1986, No. 86-546, p. 1093, §20.)
AL Code § 41-10-320 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 10 - Alabama Space Science Exhibit Finance Authority.|Section 41-10-320 - Bonds and Coupons Deemed Negotiable Instruments.

Section 41-10-320Bonds 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 1986, No. 86-546, p. 1093, §21.)
AL Code § 41-10-321 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 10 - Alabama Space Science Exhibit Finance Authority.|Section 41-10-321 - Obligations, Bonds and Notes Not Debts of State.

Section 41-10-321Obligations, bonds and notes not debts 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 sources which may under the provisions of this article 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 or of the commission. (Acts 1986, No. 86-546, p. 1093, §22.)
AL Code § 41-10-322 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 10 - Alabama Space Science Exhibit Finance Authority.|Section 41-10-322 - Conveyance of Property by Commission; Right to Possession.

Section 41-10-322Conveyance of property by commission; right to possession. The chairman of the commission is authorized upon direction and authorization of the commission to execute and deliver, at any time and from time to time, an appropriate deed or deeds conveying to the authority: (1) Any facilities belonging to the commission, (2) Any unimproved real property belonging to the commission which the commission 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 commission which the commission determines to be needed by the authority for the construction, reconstruction or improvement of facilities, for such consideration as the commission shall determine to be appropriate. No concurrence in the conveyance evidenced by any such deed by any state official or any other person or persons shall be necessary or prerequisite to the validity of any such conveyance. Upon delivery of any such deed to the authority, it thereby shall be invested with all right and title that the commission had in the property conveyed thereby, subject to the right of reverter to the commission of all such property upon the dissolution of the authority provided for in Section 41-10-330 hereof. The authority shall be entitled to immediate possession of all such property upon execution of the deed thereto. (Acts 1986, No. 86-546, p. 1093, §23.)
AL Code § 41-10-323 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 10 - Alabama Space Science Exhibit Finance Authority.|Section 41-10-323 - Plans for Construction of Facilities.

Section 41-10-323Plans for construction of facilities. All facilities constructed by the authority shall be constructed according to plans and specifications of architects or engineers, or both, selected by the commission. Such plans and specifications shall be approved by the authority. (Acts 1986, No. 86-546, p. 1093, §24.)
AL Code § 41-10-325 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 10 - Alabama Space Science Exhibit Finance Authority.|Section 41-10-325 - Lease of Vacant Facilities to Prevent Default on Bonds.

Section 41-10-325Lease of vacant facilities to prevent default on bonds. If at any time any facility constructed or acquired 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. 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 1986, No. 86-546, p. 1093, §26.)
AL Code § 41-10-326 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 10 - Alabama Space Science Exhibit Finance Authority.|Section 41-10-326 - Special Funds for Payment of Bonds, Insurance, and Other Expenses.

Section 41-10-326Special funds for payment of bonds, insurance, and other expenses. In the resolution or proceedings authorizing the issuance of any bonds or any temporary loan 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 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. Any such special funds shall be held as trust funds pursuant to agreement with such trustee bank or banks as may be designated by the commission. The authority shall establish and maintain appropriate records pertaining to such funds. Such records shall be available at all reasonable times to public inspection. (Acts 1986, No.86-546, p. 1093, §27.)