reglab/housing_qa huggingface dataset:
AL Code § 16-17-19 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 17 - Educational Building Authorities.|Section 16-17-19 - Dissolution of Authority and Vesting of Title to Its Properties.

Section 16-17-19Dissolution of authority and vesting of title to its properties. At any time when the authority does not have any bonds outstanding and when there shall be no obligations assumed by the authority that are then outstanding, the board may adopt a resolution, which shall be duly entered upon its minutes, declaring that the authority shall be dissolved. Upon the filing for record of a certified copy of said resolution in the office of the judge of probate of the county in which the authority's original certificate of incorporation was filed, the authority shall thereupon stand dissolved, and in the event it owned any property at the time of its dissolution, the title to all its property shall thereupon vest in the determining municipality. In the event the authority shall at any time have outstanding bonds issued hereunder payable out of the revenues from various ancillary improvements, then, as and when the principal of and the interest on all bonds payable, in whole or in part, from the revenues derived from any particular ancillary improvements shall have been paid in full, title to the ancillary improvements with respect to which the bonds so paid in full have been paid shall thereupon vest in the determining municipality or in an educational institution as the board of directors may direct by resolution, but such vesting of title shall not affect the title of the authority to any other ancillary improvements the revenues from which are pledged for the payment of any other bonds then outstanding. The formation of one or more authorities under the provisions of this chapter shall not prevent the subsequent formation hereunder of other authorities with respect to the same determining municipality. (Acts 1966, Ex. Sess., No. 222, p. 325, §19; Acts 1978, No. 841, p. 1258, §1.)
AL Code § 16-17A-1 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 17A - University Authority Act of 2016.|Section 16-17A-1 - Short Title.

Section 16-17A-1Short title.  This chapter shall be known and may be cited as the "University Authority Act of 2016." (Act 2016-201, §1.)
AL Code § 16-17A-3 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 17A - University Authority Act of 2016.|Section 16-17A-3 - Incorporation of Authority.

Section 16-17A-3Incorporation of authority.  (a) In order to incorporate an authority, the sponsoring university shall adopt a resolution containing at least the following provisions: (1) A finding that it is necessary, desirable, and in the best interests of the sponsoring university that the proposed authority be incorporated. (2) Approval of the form of articles of incorporation, which shall comply with the provisions of Section 16-17A-4. (3) Authorization to proceed to form the proposed authority by executing the articles of incorporation approved by the sponsoring university and filing the same with the Secretary of State. (b) A university may incorporate more than one authority if it determines that each authority promotes the public health mission of the university. (Act 2016-201, §3.)
AL Code § 16-17A-4 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 17A - University Authority Act of 2016.|Section 16-17A-4 - Articles of Incorporation - Requirements.

Section 16-17A-4Articles of incorporation - Requirements.  (a) In addition to any other matters relating to the authority that the sponsoring university may choose to insert and that are not inconsistent with state law, the articles of incorporation of an authority shall include the following provisions: (1) The name of the authority, which shall include the word Authority and shall include words identifying the sponsoring university. (2) The name of the sponsoring university and the date on which the governing body of the sponsoring university adopted a resolution authorizing the organization of the authority. (3) The name and address of the registered agent of the authority. (4) A statement that the authority is organized pursuant to the provisions of this chapter. (5) A statement that the authority shall exercise all powers provided by law, unless the exercise by the authority of any of its powers hereunder is limited in any way, in which case a statement of such limitations on the powers of the authority shall be included. (6) A statement that the duration of existence of the authority shall be perpetual, unless the sponsoring university authorizes a shorter duration. (7) The number of directors, which shall be an odd number not less than three, and the duration of their respective terms of office, which shall not be in excess of six years. (8) Provisions for appointing or removing directors of the authority, subject to the provisions of Section 16-17A-6; provided, however, that if no such provisions are specified in the articles of incorporation, all directors of an authority shall be appointed or elected by the sponsoring university and shall be subject to removal by the sponsoring university at any time, with or without cause. (b) The articles of incorporation shall be executed as provided in the resolution authorizing incorporation of the authority. (c) When the articles of incorporation are filed for record with the Secretary of State, there shall be attached to it all of the following: (1) A certified copy of the resolution of the sponsoring university authorizing the incorporation of the authority. (2) A certificate of the Secretary of State confirming that the name proposed for the authority is not identical to that of any other corporation organized under state law or so nearly similar thereto as to lead to confusion and uncertainty. (d) Upon the filing for record of the articles of incorporation and the documents required by subsection (c) with the Secretary of State, the authority shall come into existence and shall constitute a public corporation under the name set forth in its articles of incorporation. The Secretary of State shall issue a certificate of incorporation to the authority and shall record the articles of incorporation in an appropriate book in his or her office. (Act 2016-201, §4.)
AL Code § 16-17A-5 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 17A - University Authority Act of 2016.|Section 16-17A-5 - Articles of Incorporation - Amendments.

Section 16-17A-5Articles of incorporation - Amendments.  (a) The articles of incorporation of any authority may be amended by filing articles of amendment with the Secretary of State, but only with the approval of both the board of the authority and the sponsoring university, in the manner provided in this section. (b) In order to amend the articles of incorporation, the following steps shall be completed: (1) The board of the authority shall first adopt a resolution proposing articles of amendment. (2) After the adoption by the board of a resolution approving articles of amendment, the authority shall file with the sponsoring university a written request for adoption of a resolution approving the proposed amendment. (3) As promptly as may be practicable after the receipt of the request from the authority, the sponsoring university shall review the application and shall adopt a resolution either approving or denying the articles of amendment as proposed by the authority. (c) Within 30 days following the approval of the articles of amendment by the sponsoring university, the president or vice president of the authority shall sign and file for record in the office of the Secretary of State the following items:  (1) The original articles of amendment. (2) A certified copy of each resolution approving the articles of amendment. (d) Upon the filing for record of the documents required by subsection (c), the articles of amendment shall become effective. The Secretary of State shall thereupon record the articles of amendment in an appropriate book in his or her office. (e) The articles of amendment of an authority may amend and restate the articles of incorporation of an authority if approved in accordance with this section. (f) Notwithstanding the provisions of this section, the name and address of the registered agent of an authority may be changed by the authority without following the procedure set forth in this section. An authority may use any appropriate form promulgated by the Secretary of State for this purpose. (Act 2016-201, §5.)
AL Code § 16-17A-7 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 17A - University Authority Act of 2016.|Section 16-17A-7 - Officers.

Section 16-17A-7Officers.  (a) The officers of an authority shall consist of a president, a vice president, a secretary, a treasurer, and other officers and assistant officers as the board deems necessary or desirable. The president and the vice president of the authority shall be a member of the board. The secretary, the treasurer, and any other officers of the authority need not be a director. (b) The president and the vice president of the authority shall be elected by the board as provided in the bylaws of the authority, and the secretary, the treasurer, and the other officers of the authority shall be elected by or pursuant to the authorization of the board for such terms as it deems advisable. (c) The duties of the president, vice president, secretary, and treasurer shall be those as are customarily performed by such officers in nonprofit corporations. The duties of any other officers of the authority shall be prescribed by the board or pursuant to its authorization. (Act 2016-201, §7.)
AL Code § 16-17A-9 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 17A - University Authority Act of 2016.|Section 16-17A-9 - Eminent Domain.

Section 16-17A-9Eminent domain.  An authority shall have, in addition to all other powers granted by this chapter, the same power of eminent domain as is vested by law in the sponsoring university under Section 18-1A-295. (Act 2016-201, §9.)
AL Code § 16-17A-10 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 17A - University Authority Act of 2016.|Section 16-17A-10 - Indebtedness.

Section 16-17A-10Indebtedness.  (a) An authority from time to time may borrow money or incur indebtedness and issue bonds, notes, or other evidence of indebtedness in such principal amounts as the board determines by resolution to be necessary, desirable, and in the best interests of the authority in order to provide funds to carry out its corporate powers. Indebtedness may be incurred for any lawful purpose of the authority, including, without limitation, any of the following: (1) Indebtedness to finance the acquisition or construction of health care facilities. (2) Indebtedness to provide working capital or funds for operating expenses. (3) Indebtedness to refund, extend, refinance, or restructure any indebtedness of the authority or any indebtedness assumed or guaranteed by the authority. (b) Indebtedness may be any of the following or any combination thereof: (1) A general obligation of the authority to the payment of which its full faith and credit is pledged. (2) Payable solely out of specific revenues of the authority or any of its facilities. (3) Secured by a pledge of any tax levied by a governmental entity that has been made available to an authority or any of its facilities. (c) Indebtedness may provide for any of the following or any combination thereof: (1) Provide for no interest. (2) Provide for current interest. (3) Provide for capitalized interest. (4) Provide for accretion or other increase in principal amount in lieu of interest. (d) Any resolution authorizing the issuance of any indebtedness shall create a contract with the holders of the indebtedness issued thereby. (e) Evidence of indebtedness shall be executed and delivered as provided in the resolution of the board authorizing the same. (f) Indebtedness may be sold at public or private sale or in exchange for indebtedness of the authority at such price or on such terms as the board shall determine. (g) All indebtedness of an authority shall be subject to redemption or prepayment on such terms as the board shall determine. (h) No indebtedness of an authority shall mature more than 40 years from the date of issuance, without regard to whether the indebtedness is refunding, extending, refinancing, or restructuring existing indebtedness. (i) The authority may, subject to security documents or other agreements with holders as may then exist, purchase its indebtedness in the open market, through intermediaries or directly from the holder of an obligation, with any funds available therefor. Any obligation so purchased may be cancelled by the authority or may be resold, as authorized by the board. (Act 2016-201, §10.)
AL Code § 16-17A-11 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 17A - University Authority Act of 2016.|Section 16-17A-11 - Pledge of Revenues; Security Documents.

Section 16-17A-11Pledge of revenues; security documents.  (a) Any pledge of any revenues of an authority or university affiliate, including, without limitation, tax revenues made available to an authority, shall be valid and binding from the time it is made, and the revenues or taxes so pledged and thereafter received by the authority shall immediately become subject to the lien of that pledge without any physical delivery thereof or further act. The lien of that pledge shall be valid and binding against all parties having claims of any kind against the authority, irrespective of whether the parties have actual notice thereof. The resolution or security document establishing a pledge of revenues may provide that the lien established extends, on a pari passu basis, to any additional indebtedness issued as a parity obligation in accordance with the terms of the financing document. (b) Any security document relating to any real property, personal property, fixtures, or other tangible property of an authority may be filed in the office of the judge of probate of the county in which the property to be secured is located, and the lien of the security document shall be valid and binding against all parties having claims of any kind against the authority, irrespective of whether any person has actual notice thereof, from the time the security document is so filed, with respect to all property subject thereto, including, without limitation, after-acquired property. (Act 2016-201, §11.)
AL Code § 16-17A-12 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 17A - University Authority Act of 2016.|Section 16-17A-12 - Obligations of Authority.

Section 16-17A-12Obligations of authority.  (a) All agreements and covenants undertaken, and all indebtedness issued, by an authority shall be solely and exclusively an obligation of the authority and, except as otherwise provided in a written agreement in accordance with Section 16-17A-17, shall not create an obligation or debt of the state, any university, or any other governmental entity or public corporation within the meaning of any constitutional or statutory provision. (b) Neither the directors nor any officer of an authority executing indebtedness issued pursuant to this chapter shall be personally liable for such indebtedness by reason of the execution or issuance thereof. (c) The state and the sponsoring university do hereby pledge to and agree with the holders of any indebtedness issued under this chapter that neither the state nor the sponsoring university will limit or alter the rights hereby vested in the authority to fulfill the terms of any indebtedness or related security documents made with the holders thereof or in any way impair the rights and remedies of the holders until such indebtedness, together with the interest thereon, and all costs and expenses in connection with any action or proceeding by or on behalf of the holders, are fully met and discharged. An authority is authorized to include this pledge and agreement of this state or sponsoring university in any agreement with the holders of its indebtedness. (Act 2016-201, §2.)
AL Code § 16-17A-13 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 17A - University Authority Act of 2016.|Section 16-17A-13 - Investment in Indebtedness.

Section 16-17A-13Investment in indebtedness.  Indebtedness issued under the provisions of this chapter is hereby made a legal investment for savings banks and insurance companies organized under state law and for trustees, executors, administrators, guardians, persons, or organizations acting in a fiduciary capacity, unless otherwise directed by a court having jurisdiction or by a document providing fiduciary authority. Any governmental entity or public corporation is authorized, in its discretion, to invest any available funds in securities of the authority. (Act 2016-201, §13.)
AL Code § 16-17A-14 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 17A - University Authority Act of 2016.|Section 16-17A-14 - Default in Payments.

Section 16-17A-14Default in payments.  (a) If there should be any default in the payment of the principal of, or interest on, any indebtedness issued under this chapter or of any agreements contained in any security document, and the period for cure of the default has passed, then the holder of the indebtedness and the trustee under any security document, or any one or more of them, subject to the terms of the financing documents authorizing the indebtedness or any security document applicable thereto: (1) May, by mandamus, injunction, or other proceedings, compel performance of any covenant or agreement of the authority contained in any applicable resolution or security document by its board or its officers. (2) May be entitled to a judgment against the authority for the principal of and interest on the indebtedness so in default, together with all reasonable costs of collection. (3) May, in the event the indebtedness is secured by a mortgage on, or security interest in, any physical properties of the authority, foreclose the mortgage or pledge, exercise any powers of sale contained in the security documents, or exercise any possessory or other similar rights as are provided for in the financing documents or security document applicable to the indebtedness. (4) Regardless of the sufficiency of the security for the obligation in default, may be entitled to the appointment of a receiver upon order of a court of competent jurisdiction who shall, upon such appointment, assume all powers granted in the applicable financing documents or security document applicable to the obligation in default, provided that the income derived from any activity undertaken by a receiver under this section shall be expended solely in accordance with the applicable provisions of any orders of the court by which such receiver is appointed, and absent judicial direction, of the applicable financing document or security document applicable to the obligation in default.  (b) The remedies specified in this section shall be cumulative to all other remedies that may otherwise be available, by law or contract, for the benefit of the holders of indebtedness of an authority. (Act 2016-201, §14.)
AL Code § 16-17A-15 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 17A - University Authority Act of 2016.|Section 16-17A-15 - Exemptions From Taxation.

Section 16-17A-15Exemptions from taxation. Notwithstanding any provision of law to the contrary: (1) Any indebtedness issued by an authority or a university affiliate, and the income therefrom, including any profit from the sale thereof, shall be exempt from taxation by the state or other governmental entity of the state. (2) All properties of an authority or a university affiliate, whether real, personal, or mixed, and the income therefrom, shall be exempt from any and all taxation by any governmental entity. (3) An authority shall not be obligated to pay or allow to be paid any fees, taxes, costs, or charges of any nature to the Secretary of State or to any judge of probate of any county in respect of the filing or recording of any document. (4) The gross proceeds of the sale of any property used in the business or activities of an authority, or in the acquisition, construction, renovation, or equipping of any health care facilities for an authority or a university affiliate, regardless of whether the sale is made directly to an authority or to a university affiliate or to any contractor or agent thereof, shall be exempt from all sales and use taxes levied by any governmental entity, including, without limitation, any similar privilege, license, or excise tax. (Act 2016-201, §15.)
AL Code § 16-17A-16 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 17A - University Authority Act of 2016.|Section 16-17A-16 - Audits.

Section 16-17A-16Audits.  (a) Each authority shall engage a firm or firms of certified public accountants to conduct an annual audit of the financial affairs of the authority. Each audit shall be conducted in accordance with generally accepted accounting principles. (b) The board shall submit all audits required by subsection (a) to the sponsoring university as promptly as practicable after the end of each fiscal year of the authority. (Act 2016-201, §16.)
AL Code § 16-17A-17 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 17A - University Authority Act of 2016.|Section 16-17A-17 - Conveyance of Property, etc., to Authority; Pledge of Full Faith and Credit.

Section 16-17A-17Conveyance of property, etc., to authority; pledge of full faith and credit.  (a) The state, any university, any governmental entity, and any public corporation is hereby authorized to give, transfer, convey, or sell to any authority or a university affiliate, with or without consideration: (1) Any of its health care facilities and other properties, real or personal, and any funds and assets, tangible or intangible, relative to the ownership or operation of any such health care facilities, including any certificates of need, assurances of need, or other similar rights appertaining or ancillary thereto, irrespective of whether they have been exercised. (2) Any taxes, revenues, or funds owned or controlled by it. (3) Nothing in this chapter shall be construed as allowing an authority or university affiliate to be exempt from compliance with all applicable laws and regulations of the State Certificate of Need program and the Alabama State Health Planning and Development Agency. (b) The state, any governmental entity, any university, or any public corporation may pledge its full faith and credit to or for the benefit of an authority or a university affiliate or may pledge any revenues that it is legally entitled to pledge to or for the benefit of an authority or university affiliate. (c) An authority or university affiliate shall constitute a hospital corporation as that term is used in Title 22, Chapter 21, Article 4, Division 2, and any county otherwise authorized to do so may designate any authority or university affiliate as the agency of that county to acquire, construct, equip, operate, and maintain public hospital facilities in that county. The authority shall, if so designated, receive the proceeds from any special public hospital tax available in that county. (Act 2016-201, §17.)