reglab/housing_qa huggingface dataset:
AL Code § 41-10-27 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 2 - Industrial Development Authority.|Division 1 - General Provisions.|Section 41-10-27 - Issuance and Sale of Bonds for Purpose of Making Grants for Certain Purposes Authorized; Terms and Conditions.

Section 41-10-27Issuance and sale of bonds for purpose of making grants for certain purposes authorized; terms and conditions. (a) The authority is hereby authorized from time to time to sell and issue its bonds, not exceeding $2,600,000.00 in aggregate principal amount, for the purpose of making the grants of money authorized in Section 41-10-26. The grantees may use the grants authorized in that section for any of the following purposes: (1) The making of surveys to determine the location of suitable industrial sites in the locality of the grantee. (2) The making of surveys to determine the availability of labor in the locality of the grantee and to classify such labor in terms of skills and educational level. (3) The preparation of industrial sites. (4) Any combination of any of the foregoing which the grantees consider appropriate and necessary for the promotion of industrial development in their respective localities. (b) Every grant of money made by the authority pursuant to Section 41-10-26 shall be made subject to the following terms and conditions, which are hereby declared to be legally enforceable in any court of competent jurisdiction: (1) No part of any such grant or grants shall be used with respect to the preparation of industrial sites in excess of one and one-half percent of the amount that it is anticipated will be spent for the construction and equipment of the facilities that will occupy the industrial sites as such anticipated amount shall be certified to the authority by the architect or engineer for the facilities to be constructed and equipped or by the chief executive officer of the grantee. (2) The authority shall have power to audit the disbursements by the grantee from such grant or grants. (3) Any other appropriate terms and conditions to facilitate the enforcement of the foregoing provisions of this subsection. (Acts 1965, No. 662, p. 1187, §8; Act 2011-215, p. 401, §1.)
AL Code § 41-10-27.1 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 2 - Industrial Development Authority.|Division 1 - General Provisions.|Section 41-10-27.1 - State Preparation Grant Money for Raw or Completely Undeveloped Sites.

Section 41-10-27.1State preparation grant money for raw or completely undeveloped sites. Notwithstanding any other provision of law to the contrary, a corporation in Standard Industrial Code Classification 3275 shall qualify to receive in site preparation grant money the sum of one million dollars ($1,000,000) for a site that is raw or completely undeveloped if the corporation is making a one hundred million dollar ($100,000,000) or more capital investment and is employing 400 or more employees either directly or indirectly. (Acts 1997, No. 97-466, p. 819, §1.)
AL Code § 41-10-27.2 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 2 - Industrial Development Authority.|Division 1 - General Provisions.|Section 41-10-27.2 - Appropriation of Funds for Payment of Industrial Development Site Grants.

Section 41-10-27.2Appropriation of funds for payment of industrial development site grants. Beginning in the fiscal year ending September 30, 2006, the Legislature shall annually appropriate an amount up to $2,000,000 from the Capital Improvement Trust Fund to the State Industrial Development Authority for the purpose of paying industrial development site grants. The bond commission established by Amendment 666 of the Constitution of Alabama of 1901, now appearing as Section 210.04, of the Official Recompilation of the Constitution of Alabama of 1901, as amended, shall consult with the State Industrial Development Authority and recommend to the Legislature the actual amount of the annual appropriation. (Act 2006-417, p. 1033, §2; Act 2007-300, p. 546, §2.)
AL Code § 41-10-29 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 2 - Industrial Development Authority.|Division 1 - General Provisions.|Section 41-10-29 - Disposition of Proceeds From Sale of Bonds and Refunding Bonds.

Section 41-10-29Disposition of proceeds from sale of bonds and refunding bonds. The proceeds of all bonds, other than refunding bonds, issued by the authority remaining after paying expenses of their issuance shall be deposited in the State Treasury and shall be carried in the State Treasury in a special or separate account. Such funds shall be subject to be drawn upon by the authority with the approval of the president of the authority, but any funds so withdrawn shall be used solely for the purposes for which the bonds were issued as authorized in this article. The State Treasurer, with the approval of the president of the authority, shall invest funds not needed immediately or within the ensuing 30 days for any purpose for which they are held, which investments shall be made in the manner authorized and provided for in Section 36-17-18. The proceeds from the sale of any refunding bonds issued under this article remaining after paying the expenses of their issuance shall be used only for the purpose of refunding the principal of outstanding bonds of the authority and of paying any premium that may be necessary to be paid in order to redeem or retire the bonds to be refunded. (Acts 1965, No. 662, p. 1187, §10.)
AL Code § 41-10-30 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 2 - Industrial Development Authority.|Division 1 - General Provisions.|Section 41-10-30 - Pledge and Appropriation of Certain Tax Receipts for Sinking Fund for Payment of Principal and Interest on Bonds.

Section 41-10-30Pledge and appropriation of certain tax receipts for sinking fund for payment of principal and interest on bonds. For the purpose of providing funds to enable the authority to pay, at their respective maturities, the principal of and interest on any bonds issued by it under the provisions of this article and to accomplish the objects of this article, there is hereby irrevocably pledged to such purpose and there is hereby appropriated so much as may be necessary for such purpose of the receipts from the tax levied by Sections 40-25-2 and 40-25-41 and distributed in accordance with subparagraph (1) b. 1. i. of Section 40-25-23. All moneys hereby appropriated and pledged shall constitute a sinking fund for the purpose of paying the principal of and the interest on the bonds authorized by this article. (Acts 1965, No. 662, p. 1187, §11.)
AL Code § 41-10-31 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 2 - Industrial Development Authority.|Division 1 - General Provisions.|Section 41-10-31 - Payment of Principal and Interest on Bonds and Maintenance of Records Pertaining Thereto by State Treasurer.

Section 41-10-31Payment of principal and interest on bonds and maintenance of records pertaining thereto by State Treasurer. Out of the revenues appropriated and pledged in Section 41-10-30, the State Treasurer is hereby authorized and directed to pay the principal of and interest on the bonds issued by the authority under the provisions of this article, as said principal and interest shall respectively mature, and the State Treasurer is further authorized and directed to set up and maintain appropriate records pertaining thereto. (Acts 1965, No. 662, p. 1187, §12.)
AL Code § 41-10-32 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 2 - Industrial Development Authority.|Division 1 - General Provisions.|Section 41-10-32 - Dissolution of Authority; Title to Property of Authority to Vest in State Upon Dissolution of Authority.

Section 41-10-32Dissolution of authority; title to property of authority to vest in state upon dissolution of authority. At any time when no bonds of the authority are outstanding, the authority may be dissolved upon the filing with the Secretary of State of an application for dissolution, which shall be subscribed by each of the members of the authority and sworn to by each such member before an officer authorized to take acknowledgments to deeds. Upon the filing of such application for dissolution, the authority shall cease to exist. The Secretary of State shall file and record the application for dissolution in an appropriate book of record in his office and shall make and issue, under the Great Seal of the State, a certificate that the authority is dissolved and shall record such certificate with the application for dissolution. Title to all property held in the name of the authority shall be vested in the state upon dissolution of the authority. (Acts 1965, No. 662, p. 1187, §13.)
AL Code § 41-10-35 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 2 - Industrial Development Authority.|Division 2 - State Ceiling.|Section 41-10-35 - Legislative Findings and Intent.

Section 41-10-35Legislative findings and intent. The Internal Revenue Code of 1986, as amended, imposes a "state ceiling" upon the aggregate principal amount of "private activity bonds" which may be issued in any calendar year by or on behalf of a state and its political subdivisions and instrumentalities, and establishes a method of allocating the available state ceiling within each state. Authority is granted by the Internal Revenue Code, however, to the states to provide for a different formula for allocation of the state ceiling. The Legislature has found and determined that the allocation method contained in the Internal Revenue Code is ill-suited for the needs of the State of Alabama and that the provisions of this division will result in a more equitable and efficient distribution of the state ceiling available to the state and will therefore promote the economic and industrial development of the state. It is the intent of the Legislature by the passage of this division to establish a method of allocation of the available state ceiling in the state and to delegate to the State Industrial Development Authority substantial responsibility for the administration of the bond allocation plan established by this division. (Acts 1988, 1st Ex. Sess., No. 88-870, p. 382, §1.)
AL Code § 41-10-39 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 2 - Industrial Development Authority.|Division 2 - State Ceiling.|Section 41-10-39 - Carryforward Allocation Procedure.

Section 41-10-39Carryforward allocation procedure. Applications for carryforward allocations may be submitted to the authority on or after December 1 of each calendar year. The authority shall grant such carryforward allocations in its sole discretion, giving due regard to the likelihood of the use of the remaining state ceiling prior to December 31 of such year, and shall use its best efforts to assure that any remaining and unallocated state ceiling is used to satisfy applications for carryforward allocations. (Acts 1988, 1st Ex. Sess., No. 88-870, p. 382, §5.)
AL Code § 41-10-40 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 2 - Industrial Development Authority.|Division 2 - State Ceiling.|Section 41-10-40 - Duty of Fairness and Impartiality in Granting Allocations.

Section 41-10-40Duty of fairness and impartiality in granting allocations. Anything contained in this division to the contrary notwithstanding, the authority shall have a duty to administer the state ceiling allocation program created in this division fairly and impartially. In making any decision entrusted to its discretion, including particularly the granting of allocations or the reallocation of portions of the state ceiling among categories of affected bonds, or the revocation or waiver of revocation of an allocation, the authority shall give paramount importance to the fair, impartial and efficient discharge of its powers. Actions of the authority shall be subject to review by a court of competent jurisdiction to assure adherence to such standards of fairness and impartiality, which court may grant such legal and equitable remedies as it may deem necessary in order to assure such adherence; provided, however, that no member or director of the authority shall have any personal liability for the actions of the authority in connection with the allocation program. (Acts 1988, 1st Ex. Sess., No. 88-870, p. 382, §6.)
AL Code § 41-10-41 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 2 - Industrial Development Authority.|Division 2 - State Ceiling.|Section 41-10-41 - Forms, Regulations, and Interpretations; Employment of Attorneys, Agents, Etc.

Section 41-10-41Forms, regulations, and interpretations; employment of attorneys, agents, etc. The authority may do all other things necessary or desirable to carry out the purpose of this division, including the establishment of fees to be paid with each application. The authority is hereby empowered to adopt and promulgate such rules, policies, regulations and forms as it may deem necessary or desirable to carry out the purposes of this division. The authority is hereby specifically authorized to adopt such rules and regulations, including rules and regulations limiting the principal amount of allocations to be granted to local issuers, as it may determine to be necessary or desirable to promote the fair and efficient distribution of the state ceiling among local issuers. The authority shall have the power to employ attorneys, agents or independent contractors to assist the authority in the administration of its duties hereunder. (Acts 1988, 1st Ex. Sess., No. 88-870, p. 382, §8.)
AL Code § 41-10-42 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 2 - Industrial Development Authority.|Division 2 - State Ceiling.|Section 41-10-42 - Designation of Official for Certifications.

Section 41-10-42Designation of official for certifications. The president of the authority is hereby designated as the state official authorized to make certifications required by Section 149(e)(2)(F) of the code. (Acts 1988, 1st Ex. Sess., No. 88-870, p. 382, §9.)
AL Code § 41-10-43 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 2 - Industrial Development Authority.|Division 2 - State Ceiling.|Section 41-10-43 - Confirmation of Prior Allocations.

Section 41-10-43Confirmation of prior allocations. All allocations of state ceiling applicable to the state made prior to September 27, 1988, pursuant to executive orders of the Governor of the state are hereby ratified and confirmed. (Acts 1988, 1st Ex. Sess., No. 88-870, p. 382, §10.)
AL Code § 41-10-540 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 16 - Alabama Incentives Financing Authority.|Division 1 - General Provisions.|Section 41-10-540 - Legislative Findings; Construction.

Section 41-10-540Legislative findings; construction. The Legislature finds and declares the following: That the State of Alabama, acting in its own name and through various public corporations, has made substantial financial contractual commitments for incentives to industries agreeing to locate or expand their operations in Alabama; that the creation of a state-level agency with power to fund the commitments is desirable and in the public interest; that by the passage of this division it is the intention to provide for the creation of Alabama Incentives Financing Authority with broad powers to meet existing commitments made by the state to industries committing to locate or expand in the state; and that it is necessary and in the public interest that the authority pledge for payment of its obligations the funds appropriated to the authority in order to enable it to fund existing commitments and to carry out functions that are essential to the public welfare. This division shall be liberally construed in accordance with its remedial purposes. (Acts 1995, No. 95-373, p. 747, §1.)
AL Code § 41-10-542 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 16 - Alabama Incentives Financing Authority.|Division 1 - General Provisions.|Section 41-10-542 - Incorporation of Authority.

Section 41-10-542Incorporation of authority. The Governor, the State Treasurer and the Director of Finance may become a public corporation and public instrumentality of the state with the powers herein provided, by proceeding according to Section 41-10-543 hereof. (Acts 1995, No. 95-373, p. 747, §3.)
AL Code § 41-10-543 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 16 - Alabama Incentives Financing Authority.|Division 1 - General Provisions.|Section 41-10-543 - Application for Incorporation.

Section 41-10-543Application for incorporation. (a) To become the public corporation herein authorized, the Governor, the State Treasurer, and the Director of Finance shall present to the Secretary of State of Alabama an application signed by them which shall set forth all of the following: (1) The name, official designation, and official residence of each of the applicants, together with a certified copy of the commission evidencing each applicant's right to office. (2) The date on which each applicant was inducted into office and the term of office of each applicant. (3) The name of the proposed public corporation, which shall be "Alabama Incentives Financing Authority." (4) The location of the principal office of the proposed corporation, which shall be in the City of Montgomery. (b) The applicants may also include in the application any other matters which are not inconsistent with this division or with any of the other laws of the state. The application shall be subscribed and sworn to by each of the applicants before an officer authorized by the laws of the state to take acknowledgments to deeds. The Secretary of State shall examine the application and, if he or she finds that it substantially complies with the requirements of this section, it shall be filed and recorded in an appropriate book of records in the office of the Secretary of State. (Acts 1995, No. 95-373, p. 747, §4.)
AL Code § 41-10-544 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 16 - Alabama Incentives Financing Authority.|Division 1 - General Provisions.|Section 41-10-544 - Certificate of Incorporation.

Section 41-10-544Certificate of incorporation. When the application has been made, filed, and recorded, the applicants shall constitute a public corporation and public instrumentality of the state under the name set forth in the application and the Secretary of State shall make and issue to the applicants a certificate of incorporation pursuant to this division, under the Great Seal of the State, and shall record the certificate with the application. There shall be no fees paid to the Secretary of State for any service rendered or work performed in connection with the authority, its incorporation, dissolution or records. (Acts 1995, No. 95-373, p. 747, §5.)
AL Code § 41-10-545 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 16 - Alabama Incentives Financing Authority.|Division 1 - General Provisions.|Section 41-10-545 - Members; Officers; Quorum; Vacancies; Salaries; Record of Proceedings.

Section 41-10-545Members; officers; quorum; vacancies; salaries; record of proceedings. The applicants named in the application and their respective successors in office shall constitute the members of the authority. The Governor shall be the president of the authority, the State Treasurer shall be the vice president, and the Director of Finance shall be the secretary. The State Treasurer shall be treasurer of the authority, shall act as custodian of its funds, and shall pay, out of the funds appropriated to the authority and other funds available to the authority, debt service referable to bonds of the authority and any authority-guaranteed obligations and amounts due with respect to any other obligations of the authority incurred pursuant to this division. The members of the authority shall constitute all the members of the directors of the authority, and any two members of the directors shall constitute a quorum for the transaction of business. Should any person holding any state office named in this section cease to hold the office by reason of death, resignation, expiration of the term of office, or for any other reason, then his or her successor in office shall take the place as an officer and member of the directors of the authority. No officer or member of the directors of the authority shall receive any salary in addition to that now authorized by law for any service rendered or for any duty performed in connection with the authority. All proceedings had and done by the directors shall be reduced to writing by the secretary of the authority, shall be signed by at least two members of the authority present at the proceedings, and shall be recorded in a substantially bound book, and filed in the office of the Secretary of State. Copies of the proceedings, when certified by the secretary of the authority, under the seal of the authority, shall be received in all courts as prima facie evidence of the matters and things therein certified. (Acts 1995, No. 95-373, p. 747, §6.)
AL Code § 41-10-548 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 16 - Alabama Incentives Financing Authority.|Division 1 - General Provisions.|Section 41-10-548 - Use of Proceeds From Bonds.

Section 41-10-548Use of proceeds from bonds. The authority is authorized and empowered to apply the proceeds of any bonds of the authority, together with any other available funds, (i) for the purposes for which the bonds were issued; (ii) to fund the reserves as the authority deems necessary and desirable; and (iii) to the extent not needed for the foregoing uses, to pay or redeem the authority obligations. Pending the application of the proceeds of bonds of the authority to the purpose or purposes for which the bonds were issued, the proceeds and any moneys held in special funds created as security for the bonds may be invested by the authority in eligible investments, as the directors deem advisable. Any and all revenues, receipts, investment earnings, and other funds paid to, or otherwise coming into the possession of, the authority as a result of financings accomplished from the proceeds of bonds of the authority, shall be held, deposited, administered, invested, and applied as provided in the resolution of the directors authorizing the issuance of the authority obligations and as provided in any trust indenture or other agreement delivered in connection therewith, or otherwise as the authority may direct, consistent with the resolution, trust indenture, or other agreement and this division. (Acts 1995, No. 95-373, p. 747, §9.)
AL Code § 41-10-549 (2021)
2021 Code of Alabama|Title 41 - State Government.|Chapter 10 - Authorities.|Article 16 - Alabama Incentives Financing Authority.|Division 1 - General Provisions.|Section 41-10-549 - Payment or Reimbursement of Training Facility Management Fees.

Section 41-10-549Payment or reimbursement of training facility management fees. In addition to the power to finance training facility management fees through the issuance of bonds of the authority, the authority may, subject to this division, pay or reimburse such fees from any funds available to it, including, without limitation, appropriated funds. (Acts 1995, No. 95-373, p. 747, §10.)