reglab/housing_qa huggingface dataset:
AL Code § 41-10-498 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 15 - Alabama State Parking Deck Authority.|Section 41-10-498 - Temporary Loans in Anticipation of Issuance of Bonds.

Section 41-10-498Temporary 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 by issue of 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 41-10-509 of this article, all as may be provided in the resolution of the board of directors under which such notes may be issued. (Acts 1990, No. 90-603, p. 1094, §9.)
AL Code § 41-10-499 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 15 - Alabama State Parking Deck Authority.|Section 41-10-499 - Execution of Bonds and Notes.

Section 41-10-499Execution 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 secretary, 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 manuals 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 or by named individuals who are employees of the state and who are assigned to the Department of Finance or office of the State Treasurer. The seal of the authority shall be impressed on the bonds, and a facsimile of said seal may be printed or otherwise reproduced on any of the bonds in lieu of being manually impressed thereon. 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 1990, No. 90-603, p. 1094, §10.)
AL Code § 41-10-500 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 15 - Alabama State Parking Deck Authority.|Section 41-10-500 - Bonds Authorization.

Section 41-10-500Bonds authorization. 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 an aggregate principal amount not to exceed $13,000,000.00. (Acts 1990, No. 90-603, p. 1094, §11.)
AL Code § 41-10-501 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 15 - Alabama State Parking Deck Authority.|Section 41-10-501 - Sale and Issuance of Refunding Bonds.

Section 41-10-501Sale and issuance of refunding bonds. The authority may, from time to time, sell and issue its refunding bonds, without limitation as to principal amount, 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 1990, No. 90-603, p.1094, §12.)
AL Code § 41-10-502 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 15 - Alabama State Parking Deck Authority.|Section 41-10-502 - Specifications and Priority of Bonds.

Section 41-10-502Specifications 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 20 years after its date. At its election, the authority may retain in the resolution(s) under which any of the bonds are issued an option to redeem all or any thereof and at such redemption price(s) and after such notice(s) and on such dates and on such terms and conditions as may be set forth in said resolution(s) and as may be briefly recited in the bonds with respect to which such option of redemption is retained. 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 1990, No. 90-603, p. 1094, §13.)
AL Code § 41-10-503 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 15 - Alabama State Parking Deck Authority.|Section 41-10-503 - Sale of Bonds.

Section 41-10-503Sale of bonds. 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 1990, No. 90-603, p. 1094, §14.)
AL Code § 41-10-504 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 15 - Alabama State Parking Deck Authority.|Section 41-10-504 - Bonds of Authority Eligible for Investment of Trust Funds.

Section 41-10-504Bonds of authority eligible for investment of trust funds. 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 1990, No. 90-603, p. 1094, §15.)
AL Code § 41-10-505 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 15 - Alabama State Parking Deck Authority.|Section 41-10-505 - Security for Deposit of Governmental Funds.

Section 41-10-505Security 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 1990, No. 90-603, p. 1094, §16.)
AL Code § 41-10-506 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 15 - Alabama State Parking Deck Authority.|Section 41-10-506 - Disposition of Proceeds of Bonds.

Section 41-10-506Disposition 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 turned over to the State Treasurer, shall be carried by him in a special account to the credit of the authority, and shall be subject to be drawn on by the authority 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 1990, No. 90-603, p. 1094, §17.)
AL Code § 41-10-507 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 15 - Alabama State Parking Deck Authority.|Section 41-10-507 - Investment of Proceeds.

Section 41-10-507Investment 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 by the State Treasurer in permitted investments which mature at such time or times as the authority shall direct. Any such investments may, at any time and from time to time on order of the authority, be sold or otherwise converted by the State Treasurer 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 1990, No. 90-603, p. 1094, §18.)
AL Code § 41-10-508 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 15 - Alabama State Parking Deck Authority.|Section 41-10-508 - Security.

Section 41-10-508Security. 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 1990, No. 90-603, p. 1094, §19.)
AL Code § 41-10-509 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 15 - Alabama State Parking Deck Authority.|Section 41-10-509 - Enforcement Upon Default.

Section 41-10-509Enforcement 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 1990, No. 90-603, p. 1094, §20.)
AL Code § 41-10-510 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 15 - Alabama State Parking Deck Authority.|Section 41-10-510 - Bonds and Coupons Deemed Negotiable Instruments.

Section 41-10-510Bonds and coupons deemed negotiable instruments. All bonds issued by the authority 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 shall likewise be construed to be negotiable instruments although payable from a limited source. (Acts 1990, No. 90-603, p. 1094, §21.)
AL Code § 41-10-511 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 15 - Alabama State Parking Deck Authority.|Section 41-10-511 - Obligations, Bonds and Notes Not Debt of State.

Section 41-10-511Obligations, bonds and notes not debt 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. (Acts 1990, No. 90-603, p. 1094, §22.)
AL Code § 41-10-512 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 15 - Alabama State Parking Deck Authority.|Section 41-10-512 - Conveyance of Land to Corporation; Conveyance of Improvements Back to State.

Section 41-10-512Conveyance of land to corporation; conveyance of improvements back to state. The Governor of Alabama or the officers of any public corporation, as appropriate, are authorized and directed to execute and deliver immediately before or simultaneously with the issuance of the first series of the bonds of the corporation contemplated by this article appropriate deeds conveying to the corporation the title to that block of land bounded by the following streets: Pelham, Jackson, Washington, and South Ripley in the Capitol complex in the City of Montgomery, Alabama. The consideration for said conveyances shall be the corporation's undertaking to reconvey said land with improvements free of charge to the state immediately before the dissolution of the corporation. Since the land would otherwise remain unimproved, said consideration is hereby conclusively determined to be valuable, adequate and fair. Immediately prior to its dissolution the corporation shall also convey to the state the title to that block of land bounded by the following streets: Pelham, Jackson, Washington, and South Ripley in the Capitol complex in the City of Montgomery, Alabama acquired for construction of buildings thereon whether by purchase, gift, grant, or otherwise provided the terms of the grant are not violated thereby. (Acts 1990, No. 90-603, p. 1094, §23.)
AL Code § 41-10-513 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 15 - Alabama State Parking Deck Authority.|Section 41-10-513 - Facilities - Construction.

Section 41-10-513Facilities - Construction. All facilities constructed by the authority shall be constructed according to plans and specifications of architects or engineers, or both, selected by the authority. The parking deck shall be planned and constructed in such a manner as to accommodate the construction of a mirror image of the Persons Office Building. All such plans and specifications shall be approved by the authority and by the Building Commission. (Acts 1990, No. 90-603, p. 1094, §24.)
AL Code § 41-10-514 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 15 - Alabama State Parking Deck Authority.|Section 41-10-514 - Leasing to State Agencies.

Section 41-10-514Leasing to state agencies. (a) The authority is hereby authorized to enter into one or more leases of all or any part or portion of the facilities constructed, acquired, reconstructed, renovated or improved by the authority under the provisions of this article, to any agency of the state. Any agency of the state and each of them is hereby authorized to lease any such facilities from the authority. No such lease shall, however, be for a term longer than the then current fiscal year of the state, but any such lease may contain a grant to any state agency of successive options of renewing said lease on the terms specified therein for any subsequent fiscal year or years of the state; provided, that liability for the payment of rent shall never be for a term longer than one fiscal year. (b) Rent payments by the state, or any of its agencies shall be due and payable at such time or times as shall be specified in the lease respecting the facilities leased and shall, upon being so paid, entitle the state or such agency to quiet possession of the facilities leased for such fiscal year. Said rent shall be payable, and any such covenant with respect thereto on the part of the state or any of its agencies (as the case may be) shall be performed, solely out of the current revenues of the state or such agency for such fiscal year. The rent payable and the covenants to be performed by the state or any of its agencies under the provisions of said lease shall never be deemed to create a debt of the state within the meaning of the constitution. (c) In the event that there shall be any default in the payment of any rent required to be paid or in the performance of any covenant required to be performed by the state or any of its agencies under the provisions of any such lease, while such lease is in effect, the authority and any pledgee of such lease may, by any appropriate proceedings instituted within the time permitted by law, enforce and compel the payment of such rent and the performance of such covenants. No free use shall be made of any facilities of the authority so long as the principal of or interest on any bonds, including refunding bonds, issued by the authority remains unpaid. (d) In the event that any facility owned by the authority should become vacant or not be used by one of the state agencies, then neither the state nor any agency, board, bureau, commission, public corporation or department of the state shall rent, purchase, acquire, construct or lease any facilities or renew any lease of any facilities, nor shall it use any such facilities other than those owned by the authority, so long as any facility owned by the authority shall remain vacant or unused. (Acts 1990, No. 90-603, p. 1094, §25.)
AL Code § 41-10-515 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 15 - Alabama State Parking Deck Authority.|Section 41-10-515 - Leasing to County, Municipal Corporation, Agency of Federal Government, Etc.

Section 41-10-515Leasing to county, municipal corporation, agency of federal government, etc. 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, and lastly, and in no other order of priority, to a private person, firm or corporation. 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 1990, No. 90-603, p. 1094, §26.)