reglab/housing_qa huggingface dataset:
AL Code § 11-55-6 (2021)
2021 Code of Alabama|Title 11 - Counties and Municipal Corporations.|Title 2 - Provisions Applicable to Municipal Corporations Only.|Chapter 55 - Post-Office Projects.|Section 11-55-6 - Refunding Bonds.

Section 11-55-6Refunding bonds. Any bonds issued under this chapter and at any time outstanding may at any time and from time to time be refunded by a municipality by the issuance of its refunding bonds in such amount as the governing body may deem necessary but not exceeding an amount sufficient to refund the principal of the bonds so to be refunded, together with any unpaid interest thereon and any premiums and commissions necessary to be paid in connection therewith. Any such refunding may be effected whether the bonds to be refunded shall have then matured or shall thereafter mature, either by sale of the refunding bonds and the application of the proceeds thereof for the payment of the bonds to be refunded thereby or by exchange of the refunding bonds for the bonds to be refunded thereby; provided, that the holders of any bonds so to be refunded shall not be compelled without their consent to surrender their bonds for payment or exchange prior to the date on which they are payable or, if they are called for redemption, prior to the date on which they are by their terms subject to redemption. Any refunding bonds issued under the authority of this chapter shall be payable solely from the revenues out of which the bonds to be refunded thereby were payable and shall be subject to the provisions contained in Section 11-55-3 and may be secured in accordance with the provisions of Section 11-55-4. (Acts 1955, No. 491, p. 1107, §6.)
AL Code § 11-55-7 (2021)
2021 Code of Alabama|Title 11 - Counties and Municipal Corporations.|Title 2 - Provisions Applicable to Municipal Corporations Only.|Chapter 55 - Post-Office Projects.|Section 11-55-7 - Notice To, Approval or Consent of Governmental Body, etc., Not to Be Required for Sale or Issuance of Bonds or Execution of Mortgages.

Section 11-55-7Notice to, approval or consent of governmental body, etc., not to be required for sale or issuance of bonds or execution of mortgages. No notice to or consent or approval by any governmental body or public officer shall be required as a prerequisite to the sale or issuance of any bonds or the making of a mortgage under the authority of this chapter. (Acts 1955, No. 491, p. 1107, §12.)
AL Code § 11-55-8 (2021)
2021 Code of Alabama|Title 11 - Counties and Municipal Corporations.|Title 2 - Provisions Applicable to Municipal Corporations Only.|Chapter 55 - Post-Office Projects.|Section 11-55-8 - Investment in Bonds by Savings Banks and Insurance Companies.

Section 11-55-8Investment in bonds by savings banks and insurance companies. Bonds issued under the provisions of this chapter shall be legal investments for savings banks and insurance companies organized under the laws of this state. (Acts 1955, No. 491, p. 1107, §9.)
AL Code § 11-55-9 (2021)
2021 Code of Alabama|Title 11 - Counties and Municipal Corporations.|Title 2 - Provisions Applicable to Municipal Corporations Only.|Chapter 55 - Post-Office Projects.|Section 11-55-9 - Contribution by Municipalities to Costs of Acquisition of Projects or Use of Municipal Lands Therefor; Acceptance of Donations of Property or Money for Projects.

Section 11-55-9Contribution by municipalities to costs of acquisition of projects or use of municipal lands therefor; acceptance of donations of property or money for projects. A municipality may pay out of its general funds or otherwise contribute any part of the costs of acquiring a project and may use land already owned by the municipality, or in which the municipality has an equity for construction thereon of a project, and the municipality may accept donations of property to be used as a part of any project and money to be used for defraying any part of the cost of any project. (Acts 1955, No. 491, p. 1107, §8.)
AL Code § 11-55-10 (2021)
2021 Code of Alabama|Title 11 - Counties and Municipal Corporations.|Title 2 - Provisions Applicable to Municipal Corporations Only.|Chapter 55 - Post-Office Projects.|Section 11-55-10 - Requirements as to Leases of Projects.

Section 11-55-10Requirements as to leases of projects. (a) Prior to the leasing of any project, the governing body must determine and find the following: (1) The amount necessary in each year to pay the principal of and the interest on the bonds proposed to be issued to finance such project; (2) The amount necessary to be paid each year into any reserve funds which the governing body may deem it advisable to establish in connection with the retirement of the proposed bonds and the maintenance of the project; and (3) The estimated cost of maintaining the project in good repair and keeping it properly insured, unless the terms under which the project is to be leased provide that the lessee shall maintain the project and carry all proper insurance with respect thereto. (b) The determinations and findings of the governing body required to be made by subsection (a) of this section shall be set forth in the proceedings under which the proposed bonds are to be issued; and, prior to the issuance of such bonds, the municipality shall lease the project to a lessee under an agreement conditioned upon completion of the project and providing for payment to the municipality of such rentals as upon the basis of such determinations and findings will be sufficient: (1) To pay the principal of and interest on the bonds issued to finance the project; (2) To build up and maintain any reserves deemed by the governing body to be advisable in connection therewith; and (3) To pay the costs of maintaining the project in good repair and keeping it properly insured, unless the agreement of lease obligates the lessee to pay for the maintenance and insurance of the project. (Acts 1955, No. 491, p. 1107, §5.)
AL Code § 11-55-11 (2021)
2021 Code of Alabama|Title 11 - Counties and Municipal Corporations.|Title 2 - Provisions Applicable to Municipal Corporations Only.|Chapter 55 - Post-Office Projects.|Section 11-55-11 - Exemption From Taxation of Projects, Bonds, Etc.

Section 11-55-11Exemption from taxation of projects, bonds, etc. The bonds authorized by this chapter and the income therefrom, all mortgages executed as security therefor, all lease agreements made pursuant to the provisions of this chapter and all projects and the revenues derived from any lease thereof shall be exempt from all taxation in the State of Alabama. (Acts 1955, No. 491, p. 1107, §10.)
AL Code § 11-55-12 (2021)
2021 Code of Alabama|Title 11 - Counties and Municipal Corporations.|Title 2 - Provisions Applicable to Municipal Corporations Only.|Chapter 55 - Post-Office Projects.|Section 11-55-12 - Construction of Chapter.

Section 11-55-12Construction of chapter. Neither this chapter nor anything contained in this chapter shall be construed as a restriction or limitation upon any powers which a municipality might otherwise have under any laws of this state, but shall be construed as cumulative, and this chapter shall not be construed as requiring an election by the voters of a municipality prior to the issuance of bonds under this chapter by such municipality. (Acts 1955, No. 491, p. 1107, §11.)
AL Code § 11-55-13 (2021)
2021 Code of Alabama|Title 11 - Counties and Municipal Corporations.|Title 2 - Provisions Applicable to Municipal Corporations Only.|Chapter 55 - Post-Office Projects.|Section 11-55-13 - Authority of Cities or Towns to Acquire, etc., and Lease Facilities to United States Postal Service; Issuance of Bonds, etc., to Finance Acquisitions.

Section 11-55-13Authority of cities or towns to acquire, etc., and lease facilities to United States Postal Service; issuance of bonds, etc., to finance acquisitions. Any city or town in this state (1) May acquire (by construction, purchase or otherwise), improve and equip land, buildings and other facilities for use by the United States Postal Service; (2) May lease any such land, buildings or facilities to the United States Postal Service on such terms and conditions as shall be mutually agreeable to such city or town and the United States Postal Service; (3) May borrow money for the purpose of financing the costs of any such acquisition, improvement and equipment; (4) May issue, in evidence of such borrowing, bonds, warrants, notes or other securities (which such bonds, warrants, notes or other securities shall mature and come due not later than 30 years from their date but shall otherwise be issued in accordance with, and shall be subject to, applicable provisions of law); (5) May borrow money and issue bonds, warrants, notes or other securities for the combined purpose of financing the costs of any such acquisition, improvement and equipment (or of refunding any bonds, warrants, notes or other securities theretofore issued therefor) and for any other lawful purpose or purposes; and (6) May pledge for the payment of any such bonds, warrants, notes or other securities any taxes, licenses or revenues that it is authorized by law to pledge for the payment of bonded or other indebtedness. (Acts 1984, No. 84-316, p. 734.)
AL Code § 11-56-1 (2021)
2021 Code of Alabama|Title 11 - Counties and Municipal Corporations.|Title 2 - Provisions Applicable to Municipal Corporations Only.|Chapter 56 - Public Building Authorities.|Section 11-56-1 - Definitions.

Section 11-56-1Definitions. The following words and phrases, whenever used in this chapter, shall, in the absence of clear implication otherwise, have the following respective meanings: (1) CORPORATION OR THE CORPORATION. A corporation organized pursuant to the provisions of this chapter. (2) BOARD. The board of directors of the corporation. (3) THE STATE. The State of Alabama. (4) THE MUNICIPALITY. That incorporated city or town in the state which authorized the organization of the corporation. (5) THE COUNTY. That county in which the certificate of incorporation of the corporation shall be filed for record. (6) LOCAL SUBDIVISION. The municipality or the county. (7) PUBLIC CORPORATION. a. Any public corporation (other than a corporation organized under this chapter) now or hereafter organized or created in the state pursuant to the authorization or determination by the municipality, by the municipality and one or more other cities and towns in the state, by the county, by the county and one or more counties in this state, or by the governing body of any thereof, and b. The board of education of the municipality or of the county. (8) UNITED STATES. The United States of America or any of its agencies or instrumentalities. (9) GOVERNING BODY. The council, board of commissioners, or other like body in which the legislative functions of the municipality are vested by law. (10) PROJECT. A building or buildings located or to be located in the municipality or in its police jurisdiction and designed for use and occupancy as a courthouse, jail, city or town hall, auditorium, music hall, art gallery, art center, museum, municipal building, or post office or for the supplying of office, warehousing, storage, or related facilities for officers and departments of the municipality, the county, any public corporation, any public utility subject to regulation by the Public Service Commission, any agencies for which the municipality, the county or any public corporation may lawfully furnish office, warehousing, storage, or related facilities and the United States, or any one or more thereof, together with any lands deemed by the board to be desirable in connection therewith. (11) BOND. Any bond authorized to be issued pursuant to the provisions of this chapter, including refunding bonds. (12) COUPON. Any interest coupon evidencing an installment of interest payable with respect to a bond. (13) 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 1955, No. 493, p. 1116, §1; Acts 1956, 1st Ex. Sess., No. 127, p. 182, §1; Acts 1963, No. 538, p. 1156; Acts 1965, 2nd Ex. Sess., No. 109, p. 148.)
AL Code § 11-56-2 (2021)
2021 Code of Alabama|Title 11 - Counties and Municipal Corporations.|Title 2 - Provisions Applicable to Municipal Corporations Only.|Chapter 56 - Public Building Authorities.|Section 11-56-2 - Legislative Intent; Construction of Chapter Generally.

Section 11-56-2Legislative intent; construction of chapter generally. (a) It is the intention of the Legislature by the passage of this chapter to empower each incorporated city and town in the state to authorize the incorporation of one or more corporations as political subdivisions of the state for the purpose of providing buildings and facilities for lease to and use by the municipality, the county, or any public corporation in the performance of their respective public functions or for lease to and use by the United States, and to invest each corporation organized under this chapter with all powers that may be necessary to enable it to accomplish such purchase, including the power to lease its properties and to issue interest-bearing revenue bonds. (b) This chapter shall be liberally construed in conformity with the said intent. (Acts 1955, No. 493, p. 1116, §2; Acts 1956, 1st Ex. Sess., No. 127, p. 182, §2.)
AL Code § 11-56-3 (2021)
2021 Code of Alabama|Title 11 - Counties and Municipal Corporations.|Title 2 - Provisions Applicable to Municipal Corporations Only.|Chapter 56 - Public Building Authorities.|Section 11-56-3 - Application for Authority to Form Corporation; Adoption of Resolution by Governing Body Authorizing Incorporation; Procedure for Incorporation Generally.

Section 11-56-3Application for authority to form corporation; adoption of resolution by governing body authorizing incorporation; procedure for incorporation generally. Whenever any number of natural persons, not less than three, shall file with the governing body an application in writing for authority to incorporate a corporation under the provisions of this chapter, if it shall be made to appear to the governing body that each of the said persons is a duly qualified elector of and property owner in the municipality, and, if the governing body shall duly adopt a resolution wherein it shall be declared that it will be wise, expedient, and necessary that such a corporation be formed and that the persons filing such application shall be authorized to proceed to form such corporation, then the said persons shall become the incorporators of and shall proceed to incorporate the corporation in the manner provided in this chapter. No corporation shall be formed under this chapter unless the application provided for in this section shall be made and unless the resolution provided for in this section shall be adopted. (Acts 1955, No. 493, p. 1116, §3.)
AL Code § 11-56-4 (2021)
2021 Code of Alabama|Title 11 - Counties and Municipal Corporations.|Title 2 - Provisions Applicable to Municipal Corporations Only.|Chapter 56 - Public Building Authorities.|Section 11-56-4 - Certificate of Incorporation - Contents; Approval by Governing Body.

Section 11-56-4Certificate of incorporation - Contents; approval by governing body. (a) The certificate of incorporation of the corporation shall state: (1) The names of the persons forming the corporation, together with the residence of each thereof, and a statement that each of them is a duly qualified elector of and property owner in the municipality; (2) The name of the corporation (which shall be "The Public Building Authority of the City (or Town) of _____" or some other name of similar import); (3) The location of its principal office, which shall be in the municipality; (4) The number of directors (which shall be three or a multiple of three); and (5) Any other matters relating to the corporation that the incorporators may choose to insert and that is not inconsistent with this chapter or with the laws of the state. (b) The form and contents of the certificate of incorporation must be submitted to the governing body for its approval, which shall be evidenced by a resolution duly entered upon the minutes of the governing body. (Acts 1955, No. 493, p. 1116, §4.)
AL Code § 11-56-5 (2021)
2021 Code of Alabama|Title 11 - Counties and Municipal Corporations.|Title 2 - Provisions Applicable to Municipal Corporations Only.|Chapter 56 - Public Building Authorities.|Section 11-56-5 - Certificate of Incorporation - Execution, Acknowledgment, Filing, and Recordation.

Section 11-56-5Certificate of incorporation - Execution, acknowledgment, filing, and recordation. The certificate of incorporation shall be signed and acknowledged by the incorporators before an officer authorized by the laws of the state to take acknowledgments of deeds and shall have attached thereto a certified copy of the resolution provided for in Section 11-56-4 and a certificate by the Secretary of State that the name proposed for the corporation is not identical with that of any other corporation in the state or so nearly similar thereto as to lead to confusion and uncertainty. The certificate of incorporation, together with the documents required by the preceding sentence to be attached thereto, shall be filed in the office of the judge of probate of any county in which any portion of the municipality is located, who shall forthwith receive and record the same. When such certificate of incorporation and attached documents have been so filed, the corporation referred to therein shall come into existence and shall constitute a body corporate and politic and a political subdivision of the state under the name set forth in such certificate of incorporation, whereupon the corporation shall be vested with the rights and powers granted in this chapter. (Acts 1955, No. 493, p. 1116, §5; Acts 1956, 1st Ex. Sess., No. 127, p. 182, §3.)
AL Code § 11-56-6 (2021)
2021 Code of Alabama|Title 11 - Counties and Municipal Corporations.|Title 2 - Provisions Applicable to Municipal Corporations Only.|Chapter 56 - Public Building Authorities.|Section 11-56-6 - Board of Directors; Record of Proceedings of Board.

Section 11-56-6Board of directors; record of proceedings of board. The corporation shall have a board of directors composed of the number of directors provided in the certificate of incorporation. All powers of the corporation shall be exercised by the board or pursuant to its authorization. The directors shall be residents of the municipality and shall be elected by the governing body for staggered terms of office as follows: The first term of one third of the directors shall be two years; of another one third, four years; and of the remaining one third, six years. Thereafter the term of office of each director shall be six years. If any director resigns, dies, becomes incapable of acting as a director or ceases to reside in the municipality, the governing body shall elect a successor to serve for the unexpired period of his term. Directors shall be eligible for reelection by the governing body to succeed themselves in office. No director shall be an officer of the state or the municipality. A majority of the members of the board shall constitute a quorum for the transaction of business. No vacancy in the membership of the board shall impair the right of a quorum to exercise all the powers and duties of the corporation. The members of the board and the officers of the corporation shall serve without compensation, except that they may be reimbursed for actual expenses incurred in and about the performance of their duties. All proceedings of the board shall be reduced to writing by the secretary of the corporation and recorded in a well-bound book. Copies of such proceedings, when certified by the secretary of the corporation under its seal, shall be received in all courts as evidence of the matters and things therein certified. (Acts 1955, No. 493, p. 1116, §6.)
AL Code § 11-56-7 (2021)
2021 Code of Alabama|Title 11 - Counties and Municipal Corporations.|Title 2 - Provisions Applicable to Municipal Corporations Only.|Chapter 56 - Public Building Authorities.|Section 11-56-7 - Officers.

Section 11-56-7Officers. The officers of the corporation shall consist of a chairman, vice-chairman, a secretary, a treasurer, and such other officers as the board shall deem necessary to accomplish the purposes for which the corporation was organized. The offices of secretary and treasurer may, but need not be, held by the same person. The chairman and vice-chairman of the corporation shall be elected by the board from its membership. The secretary, the treasurer, and any other officers of the corporation, who may, but need not be, members of the board, shall also be elected by the board. (Acts 1955, No. 493, p. 1116, §7.)
AL Code § 11-56-8 (2021)
2021 Code of Alabama|Title 11 - Counties and Municipal Corporations.|Title 2 - Provisions Applicable to Municipal Corporations Only.|Chapter 56 - Public Building Authorities.|Section 11-56-8 - Powers Generally.

Section 11-56-8Powers generally. The corporation shall have the following powers, together with all powers incidental thereto or necessary to the discharge thereof in corporate form: (1) To have succession by its corporate name until dissolved as provided in this chapter; (2) To sue and be sued and to prosecute and defend civil actions in any court having jurisdiction of the subject matter and of the parties; (3) To make use of a corporate seal and to alter the same at pleasure; (4) To adopt and alter bylaws for the regulation and conduct of its affairs and business; (5) To acquire, whether by purchase, gift, lease, devise, or otherwise property of every description which the board may deem necessary to the acquisition, construction, improvement, enlargement, operation, or maintenance of a project and to hold title thereto; (6) To construct, enlarge, equip, improve, maintain, and operate one or more projects; (7) To borrow money for any of its corporate purposes and to sell and issue in evidence of such borrowing its interest-bearing revenue bonds; (8) To sell and issue refunding revenue bonds; (9) To secure any of its bonds by pledge and indenture as provided in this chapter; (10) To appoint, employ, and compensate such agents, architects, and attorneys as the business of the corporation may require; (11) To provide for such insurance as the board may deem advisable; (12) To invest in obligations that are direct general obligations of the United States of America or that are unconditionally guaranteed as to both principal and interest by the United States of America any of its funds that the board may determine are not presently needed for its corporate purposes; (13) To contract, lease, and make lease agreements respecting its properties or any thereof; and (14) To sell and convey any of its properties that may have become obsolete or worn out or that may no longer be needed or useful in connection with or in the operation of any project; provided, that it shall not have the power to sell or convey any project substantially as a whole except as provided in this chapter. (Acts 1955, No. 493, p. 1116, §8.)