reglab/housing_qa huggingface dataset:
AL Code § 41-10-52 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 3 - Southern Products Mart Authority.|Section 41-10-52 - Purpose of Article; Construction of Article.

Section 41-10-52Purpose of article; construction of article. It is the intention of the Legislature by the passage of this article to authorize the incorporation of the Director of Finance, the Secretary of the Alabama Department of Commerce, the State Treasurer and the Executive Secretary to the Governor for the purpose of acquiring land for and erecting, constructing, maintaining and operating thereon a products market, exhibition halls, buildings and other related structures and facilities in Jefferson County, Alabama, where products and goods may be displayed to encourage the buying and selling of such products and goods, to encourage the expansion of existing industries in Alabama, to encourage the location of new industries in Alabama and to foster and encourage the growth of the general economy of Alabama, through a corporation to be composed of said officials whose incorporation is hereby authorized and to vest such corporation with all powers, authorities, rights, privileges and titles that may be necessary to enable it to accomplish such purpose. This article shall be liberally construed in order to effect the said purpose. (Acts 1973, No. 1210, p. 2032, §1.)
AL Code § 41-10-56 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 3 - Southern Products Mart Authority.|Section 41-10-56 - Resolution Authorizing Issuance of Bonds to Contain Recital as to Authority for Issuance; Notice of Passage of Resolution; Limitation Period and Venue for Actions to Contest Validity of Resolutions, Bonds, Etc.

Section 41-10-56Resolution authorizing issuance of bonds to contain recital as to authority for issuance; notice of passage of resolution; limitation period and venue for actions to contest validity of resolutions, bonds, etc. (a) Any resolution authorizing any bonds under this article shall contain a recital that they are issued pursuant to the provisions of this article, which recital shall be conclusive evidence that said bonds have been duly authorized pursuant to the provisions of this article, notwithstanding the provisions of any other law now in force or hereafter enacted or amended. (b) Upon the adoption by the board of directors of any resolution providing for the issuance of bonds under the provisions of this article, the authority may in its discretion cause to be published once a week for two consecutive weeks, in a newspaper published and having general circulation in Jefferson County, Alabama, a notice in substantially the following form (the blanks being properly filled in): "Southern Products Mart Authority, an agency of the State of Alabama, on the ____ day of ____, adopted a resolution providing for the issuance of $_____ principal amount of bonds of the said authority for purposes authorized in the act of the Legislature of Alabama under which the said authority was organized. Any civil action or proceeding questioning the validity of said resolution or said bonds or the pledge and agreements made in said resolution for the benefit thereof or the proceedings authorizing the same must be commenced within 20 days after the first publication of this notice. Southern Products Mart Authority, by: ___________, its president." (c) Any civil 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 article or to contest the validity of any such bonds or the validity of the pledge or agreement made therefor must be commenced within 20 days after the first publication of such notice. After the expiration of the said 20-day period, no right of action or defense founded upon the validity of the resolution or other proceedings, if any, or of the said bonds, or the said pledge or agreement shall be asserted. In the event of such publication, the validity of the said resolution, proceedings, bonds, pledge or agreement shall not be open to question in any court on any ground whatever, except in a civil action or proceeding commenced within such period. Any such civil action and any civil action to protect or enforce any rights under the provisions of this article shall be brought in the Circuit Court of Jefferson County. (Acts 1973, No. 1210, p. 2032, §15.)
AL Code § 41-10-57 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 3 - Southern Products Mart Authority.|Section 41-10-57 - Execution and Delivery of Bonds and Interest Coupons.

Section 41-10-57Execution and delivery of bonds and interest coupons. The bonds shall be signed by the president of the authority and attested by its secretary, and all interest coupons applicable to the bonds shall be signed by the president of the authority; provided, that a facsimile of the signature of one, but not of both, of said officers may be printed or otherwise reproduced on any of the bonds in lieu of their being manually signed, and a facsimile of the president's signature may be printed or otherwise reproduced on any of the interest coupons in lieu of their being manually signed. The seal of the authority shall be impressed on the bonds; provided, that a facsimile of said seal may be printed or otherwise reproduced on any of the bonds in lieu of being manually impressed thereon. If any officer duly authorized thereunto, after signing any of such bonds or the interest coupons thereunto appertaining, manually or by facsimile, shall for any reason vacate said office, the said bonds and interest coupons may nevertheless be delivered at any time thereafter as the act and deed of the authority. (Acts 1973, No. 1210, p. 2032, §6.)
AL Code § 41-10-58 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 3 - Southern Products Mart Authority.|Section 41-10-58 - Sale of Bonds; Public Hearing or Consent of Department of Finance, etc., Not a Prerequisite to Issuance of Bonds.

Section 41-10-58Sale of bonds; public hearing or consent of Department of Finance, etc., not a prerequisite to issuance of bonds. (a) Any of the bonds may be sold at any time and from time to time as said board of directors may deem advantageous. The bonds must be sold only at public sale, either on sealed bids or at public auction, to the bidder whose bid reflects the lowest net interest cost to the authority for the bonds being sold, computed from the date of those at the time being sold to their respective maturities; provided, that if no bid acceptable to the authority is received, it may reject all bids. Notice of each such sale must 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 this state which is customarily published not less often than six days during each calendar week, each of which notices must be published 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 none of the bonds may be sold for a price less than the face value thereof; provided further, that such terms and conditions shall not conflict with any of the requirements of this article. (b) Neither a public hearing nor consent of the state Department of Finance or any other department or agency shall be a prerequisite to the issuance of any of the bonds. (Acts 1973, No. 1210, p. 2032, §7.)
AL Code § 41-10-59 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 3 - Southern Products Mart Authority.|Section 41-10-59 - Refunding Bonds.

Section 41-10-59Refunding bonds. Subject to the provisions contained in this article, the authority may from time to time sell and issue refunding bonds for the purpose of refunding any matured or unmatured bonds of the authority issued under this article and then outstanding, together with any premium that may be necessary to be paid in order to redeem or retire the bonds proposed to be refunded. The limitations provided for in Section 41-10-56 on the amount of bonds authorized in this article shall not apply to the said refunding bonds. (Acts 1973, No. 1210, p. 2032, §8.)
AL Code § 41-10-61 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 3 - Southern Products Mart Authority.|Section 41-10-61 - Exemption From Taxation of Bonds, Properties, Income, etc., of Authority; Use of Bonds as Security for Deposits of State Funds; Investment of Trust Funds in Bonds.

Section 41-10-61Exemption from taxation of bonds, properties, income, etc., of authority; use of bonds as security for deposits of state funds; investment of trust funds in bonds. (a) The properties of the authority and the income therefrom and all lease agreements made by the authority and income therefrom shall be forever exempt from any and all taxation in the State of Alabama. The bonds of the authority and the income therefrom shall be forever exempt from any and all taxation in the State of Alabama. (b) Any of the bonds may be used by the holder thereof as security for the deposit of any funds belonging to the state or to any instrumentality or agency of the state in any instance where security for such deposits may be required by law. (c) Unless otherwise directed by the court having jurisdiction thereof or by the document that 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 any of the bonds. (Acts 1973, No. 1210, p. 2032, §9.)
AL Code § 41-10-62 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 3 - Southern Products Mart Authority.|Section 41-10-62 - Liability Upon Bonds, Debts, Agreements, etc., of Authority.

Section 41-10-62Liability upon bonds, debts, agreements, etc., of authority. All debts assumed or created by the authority and all bonds issued by it shall be solely and exclusively obligations of the authority and shall not be obligations or debts of the State of Alabama. All contracts and agreements made by the authority pursuant to the provisions of this article shall be solely and exclusively obligations of the authority and shall not be obligations of the State of Alabama. (Acts 1973, No. 1210, p. 2032, §10.)
AL Code § 41-10-64 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 3 - Southern Products Mart Authority.|Section 41-10-64 - Special and Continuing Trust Fund for Payment of Principal and Interest on Bonds of Authority and Maintenance, etc., of Facilities Thereof.

Section 41-10-64Special and continuing trust fund for payment of principal and interest on bonds of authority and maintenance, etc., of facilities thereof. For the purpose of providing funds for the payment of the costs and expenses necessary to accomplish the purpose of this authority and for the payment of the principal of and interest on any bonds issued by the authority under the provisions of this article, there is hereby created and irrevocably pledged to the payment of such obligations a special and continuing trust fund which shall consist of all revenues, receipts and income from rents contracted for and received by the authority and all revenues, receipts and income received by the authority from any other source whatsoever. There shall be created within said special and continuing trust fund a reserve fund account of said authority in the State Treasury, in which shall be placed as a trust fund and held separate and apart from all other moneys of the state or of the authority, any moneys left over after the completion of the acquisition, erection and construction of the facilities of the authority and the payment of all costs in connection therewith and in connection with the issuance of the bonds and all excess rentals and other surplus income after the payment of all annual charges and expenses of operation in each fiscal year, including principal and interest. Said reserve fund shall be held by the State Treasurer in trust for the authority and the holders of its bonds and may be invested only in securities which are either direct obligations of the United States of America or fully guaranteed as to principal and interest by the United States of America. Said reserve fund shall be used by the State Treasurer to pay, when due and payable, any installment of principal and interest or both on the outstanding bonds of the authority for which said fund was created which cannot be paid out of current revenues or other moneys of the authority. Said funds shall not be diverted or used for any other purpose. There shall be created in said special and continuing trust fund an account thereof in which shall be deposited, segregated and held only the amounts reasonably estimated to be necessary for the maintenance, operation and upkeep of the facilities of the authority, with all excess moneys at the end of each fiscal year being transferred to the reserve fund, and the authority is authorized and is hereby directed to pay out of such account in the special and continuing trust fund all reasonable expenses of the maintenance, operation and upkeep of the facilities of the authority. (Acts 1973, No. 1210, p. 2032, §12.)
AL Code § 41-10-65 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 3 - Southern Products Mart Authority.|Section 41-10-65 - Payment of Principal and Interest on Bonds and Maintenance of Records Pertaining Thereto by State Treasurer.

Section 41-10-65Payment of principal and interest on bonds and maintenance of records pertaining thereto by State Treasurer. Out of the revenues referred to in Section 41-10-64, the State Treasurer is authorized and directed to pay the principal of and interest on the bonds issued by the authority under the provisions of this chapter as such principal and interest shall respectively mature, and he is further authorized and directed to set up and maintain appropriate records pertaining thereto. (Acts 1973, No. 1210, p. 2032, §14.)
AL Code § 41-10-66 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 3 - Southern Products Mart Authority.|Section 41-10-66 - Annual Audit of Books and Accounts of Authority; Disposition of Reports Thereof.

Section 41-10-66Annual audit of books and accounts of authority; disposition of reports thereof. At least once every 12 months subsequent to the formation of the authority, the authority shall appoint and employ a certified public accountant who shall make an examination in detail of all books and accounts of the authority since the preceding examination and make a full report thereof in writing to be submitted to the authority and spread upon its minute book at the first meeting of the board after the receipt of said report. A copy of each such report shall be retained in the principal office of the authority and made available at reasonable hours to any holder of any bond of the authority upon request. A copy of each such report shall also be delivered by the authority to the State Treasurer within 30 days after its receipt by the authority. (Acts 1973, No. 1210, p. 2032, §16.)
AL Code § 41-10-68 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 3 - Southern Products Mart Authority.|Section 41-10-68 - Leasing of Buildings, Facilities and Structures.

Section 41-10-68Leasing of buildings, facilities and structures. The authority and any person are hereby authorized to enter into a lease or leases for the use and occupancy of any or all property of the authority or for the use and occupancy of any space in or all of any buildings or facilities constructed by the authority under the provisions of this article; provided, that the proposed use by any such lessee or lessees shall be in furtherance of the purpose for which the authority is created; provided further, that an adequate rental is established in said lease or leases. Any executive head of any agency, board, commission, public corporation, bureau or department of the state is hereby separately authorized to enter into any said lease with the authority. No free space shall be available to any person on any of the property or in any of the buildings, facilities and structures of the authority so long as the principal of or interest on any bonds, including refunding bonds, issued by the authority remains unpaid. If at any time there is or is about to be vacant space on the property or in the buildings, facilities or structures constructed by the authority and there is no person available to rent such space for the purpose for which the authority is created, then, but only in such event, in order to prevent default in its bonds, the authority is hereby authorized to enter into leases with any person for any lawful purposes pursuant to and subject to such rules and regulations as to such occupancy as may be adopted by the authority; provided, that the use of such facilities by such tenants shall not interfere with the use of the premises by other tenants who are occupying same in furtherance of the purpose for which the authority is created; provided further, that any such leases shall be based upon a rental rate, established by the authority, commensurate with the then current commercial rates for similar facilities and space of like character in the City of Birmingham, Jefferson County, Alabama. Any such lease shall not be for the purpose of competing with private enterprise or for lending public credit, but shall be solely for the use and benefit of the holders of the authority's bonds to avoid default thereon and to insure the prompt payment of the principal thereof and interest thereon when due. (Acts 1973, No. 1210, p. 2032, §18.)
AL Code § 41-10-69 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 3 - Southern Products Mart Authority.|Section 41-10-69 - Conveyance of Lands, Buildings, Properties, etc., of Authority to State Upon Payment in Full of Bonds, etc.; Dissolution of Authority.

Section 41-10-69Conveyance of lands, buildings, properties, etc., of authority to state upon payment in full of bonds, etc.; dissolution of authority. (a) When all bonds issued by the authority and all obligations assumed by it under the provisions of this article shall have been paid in full, the president of the authority shall thereupon execute and deliver in the name of and in behalf of the authority an appropriate deed or deeds, to which the seal of the authority shall be affixed and attested by the secretary of the authority, whereby there shall be conveyed to the state all the lands, buildings, fixtures, properties and other assets then owned by the authority. (b) The then officers and directors of the authority shall at such time file with the Secretary of State a written statement, subscribed and sworn to by each of them, reciting the payment in full of all bonds theretofore issued by the authority and the execution and delivery of such deed or deeds to the state, which statement shall be filed by the Secretary of State and recorded with the certificate of incorporation of the authority, whereupon the authority shall stand dissolved. (Acts 1973, No. 1210, p. 2032, §19.)
AL Code § 41-10-80 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 4 - State Products Mart and Coliseum Authorities.|Section 41-10-80 - Short Title.

Section 41-10-80Short title. This article shall be known and may be cited as the State Products Mart and Coliseum Authority Act. (Acts 1965, 1st Ex. Sess., No. 174, p. 224, §1.)
AL Code § 41-10-81 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 4 - State Products Mart and Coliseum Authorities.|Section 41-10-81 - Definitions.

Section 41-10-81Definitions. When used in this article, the following terms shall have the following meanings, respectively, unless the context clearly indicates otherwise: (1) CORPORATION. A corporation organized pursuant to the provisions of this article. (2) BOARD. The board of directors of the corporation. (3) STATE. The State of Alabama. (4) COUNTY. That county in the state which authorized the organization of the corporation. (5) MUNICIPALITY. The incorporated cities or towns located in the county which authorized the organization of the corporation. (6) PUBLIC CORPORATION. Any public corporation now or hereafter organized or created in the state pursuant to the authorization or determination by the municipality or by the municipality and any one or more other cities and towns in the state or by the county or by the county and any one or more counties in the state. (7) STATE AGENCY. Any public corporation now or hereafter organized or created in the state pursuant to the authorization or determination of the legislature of the state or any of its boards or agencies which are separate corporate entities from the state and from any of the counties or municipalities in the state and the debts of which are not debts of the state or any county or any municipality within the meaning of Sections 213, 224 or 225 of the constitution of the state. (8) GOVERNING BODY. The county commission in which jurisdiction over the affairs of the county is vested by law. (9) PROJECT. Any buildings and other improvements and facilities located or to be located within the municipality or within its police jurisdiction and designed for use as a products market, exhibition hall or coliseum where products and goods may be displayed to encourage the buying or selling thereof or where exhibits, contests and sporting events may be conducted, together with any lands deemed by the board to be desirable in connection therewith. (10) BOND. Any bond authorized to be issued pursuant to the provisions of this article, including refunding bonds. (11) COUPON. Any interest coupon evidencing an installment of interest payable with respect to a bond. (12) INDENTURE. A mortgage, an indenture of mortgage, deed of trust, trust agreement or trust indenture executed by the corporation as security for any bonds. (Acts 1965, 1st Ex. Sess., No. 174, p. 224, §3.)
AL Code § 41-10-82 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 4 - State Products Mart and Coliseum Authorities.|Section 41-10-82 - Purpose of Article; Construction of Article Generally.

Section 41-10-82Purpose of article; construction of article generally. It is the intention of the Legislature by the passage of this chapter to empower each county in the state to authorize the incorporation of one or more public corporations as political subdivisions of the state for the purpose of providing products markets, exhibition halls, coliseums and buildings and related structures where products and goods may be displayed and exhibits, contests and sporting events conducted in order to encourage the buying and selling of products and goods, to encourage the expansion of existing industries in Alabama, to encourage the location of new industries in Alabama and to encourage public interest in sports and amusements and thus to promote commerce and goodwill in the State of Alabama and to invest each corporation organized hereunder with such powers as may be necessary or desirable to enable it to accomplish such purposes. This article shall be liberally construed in conformity with such intent. (Acts 1965, 1st Ex. Sess., No. 174, p. 224, §2.)