reglab/housing_qa huggingface dataset:
AL Code § 23-7-7 (2021)
2021 Code of Alabama|Title 23 - Highways, Roads, Bridges and Ferries.|Chapter 7 - Alabama Transportation Infrastructure Bank Act.|Section 23-7-7 - Administration and Operations of Bank.

Section 23-7-7Administration and operations of bank. (a) Earnings on balances in the federal highway account, as created by this chapter, must be credited and invested according to federal law. The bank may establish accounts and subaccounts within the state highway account and the federal highway account as considered desirable to effectuate the purposes of this chapter, or to meet the requirements of any state or federal programs.  (b) The bank shall comply with all applicable federal laws and regulations prohibiting the commingling of certain federal funds deposited in the bank. (c) The operations of the bank shall be administered by the department, as agent for the bank, and the department may establish procedures and adopt rules necessary to administer the operations of the bank in accordance with applicable law and to enter into contracts and other agreements in connection with the operation of the bank including, but not limited to, contracts and agreements with federal agencies, public bodies, the bank, and other parties to the extent necessary or convenient for administration of the bank's operations. Except as provided in this chapter, acting as agent for the bank, the department shall maintain full authority for the administration of the bank's operations in accordance with applicable federal and state law. (Act 2015-50, p. 173, §7; Act 2018-290, §1.)
AL Code § 23-7-9 (2021)
2021 Code of Alabama|Title 23 - Highways, Roads, Bridges and Ferries.|Chapter 7 - Alabama Transportation Infrastructure Bank Act.|Section 23-7-9 - Financing Agreements; Other Authorized Financing; Security Interests.

Section 23-7-9Financing agreements; other authorized financing; security interests.  (a) Qualified borrowers may obtain loans or other financial assistance from the bank through financing agreements. Qualified borrowers entering into financing agreements and issuing loan obligations to the bank may perform any acts, take any action, adopt any proceedings, and make and carry out any contracts or agreements with the bank as may be agreed to by the bank and any qualified borrower for carrying out the purposes of this chapter. (b) In addition to the authorizations contained in this chapter, all other statutes or provisions permitting government units to borrow money and issue obligations may be utilized by any government unit in obtaining a loan or other financial assistance from the bank to the extent determined necessary or useful by the government unit in connection with any financing agreement and the issuance, securing, or sale of loan obligations to the bank. (c) A qualified borrower may receive, apply, pledge, assign, and grant a security interest in project revenues, and, in the case of a government unit, its project revenues, revenues derived from a special source, ad valorem or other taxes, or, if the government unit is authorized, its full faith and credit, to secure its obligations as provided in this chapter, and may fix, revise, charge, and collect fees, rates, rents, assessments, and other charges of general or special application for the operation or services of a qualified project, the system of which it is a part, and any other revenue producing facilities from which the qualified borrower derives project revenues, to meet its obligations under a financing agreement or to provide for the construction and improving of a qualified project. (Act 2015-50, p. 173, §9; Act 2018-290, §1.)
AL Code § 23-7-10 (2021)
2021 Code of Alabama|Title 23 - Highways, Roads, Bridges and Ferries.|Chapter 7 - Alabama Transportation Infrastructure Bank Act.|Section 23-7-10 - Essential Governmental Function of Bank; Taxation.

Section 23-7-10Essential governmental function of bank; taxation.  The bank is performing an essential governmental function in the exercise of the powers conferred upon it and is not required to pay taxes or assessments upon property or upon its operations or the income from them, or taxes or assessments upon property or loan obligations acquired or used by the bank or upon the income from them. (Act 2015-50, §10.)
AL Code § 23-7-11 (2021)
2021 Code of Alabama|Title 23 - Highways, Roads, Bridges and Ferries.|Chapter 7 - Alabama Transportation Infrastructure Bank Act.|Section 23-7-11 - Failure to Collect or Remit Funds Due; Withholding of Funds.

Section 23-7-11Failure to collect or remit funds due; withholding of funds.  (a) If a government unit fails to collect and remit in full all amounts due to the bank on the date these amounts are due under the terms of any note or other obligation of the government unit, the bank shall notify the State Finance Director who shall direct the withholding of all or a portion of the funds of the state and all funds administered by the state, its agencies, boards, and instrumentalities allotted or appropriated to the government unit and apply an amount necessary to the payment of the amount due. (b) Nothing contained in this section mandates the withholding of funds allocated to a government unit the withholding of which would violate contracts to which the state is a party, the requirements of federal law imposed on the state, or judgments of a court binding on the state. (Act 2015-50, p. 173, §11; Act 2018-290, §1.)
AL Code § 23-7-12 (2021)
2021 Code of Alabama|Title 23 - Highways, Roads, Bridges and Ferries.|Chapter 7 - Alabama Transportation Infrastructure Bank Act.|Section 23-7-12 - Liability Under Chapter.

Section 23-7-12Liability under chapter.  Neither the board nor any officer, employee, or committee of the bank acting on behalf of it, while acting within the scope of authority granted by this chapter, is subject to any liability resulting from carrying out any of the powers given in this chapter, unless the officer or employee acted in an unreasonable or reckless manner. (Act 2015-50, §12.)
AL Code § 23-7-13 (2021)
2021 Code of Alabama|Title 23 - Highways, Roads, Bridges and Ferries.|Chapter 7 - Alabama Transportation Infrastructure Bank Act.|Section 23-7-13 - Notice, Publication, etc., Referenda.

Section 23-7-13Notice, publication, etc., referenda. Notice, proceeding, or publication, except those required in this chapter, are not necessary to the performance of any power authorized in this chapter nor is any act of the bank subject to any referendum. (Act 2015-50, §13.)
AL Code § 23-7-14 (2021)
2021 Code of Alabama|Title 23 - Highways, Roads, Bridges and Ferries.|Chapter 7 - Alabama Transportation Infrastructure Bank Act.|Section 23-7-14 - Investment of Funds.

Section 23-7-14Investment of funds.   Money in funds or accounts of the bank may be invested in permitted investments; provided, the investment of any federal funds shall comply with any applicable federal requirements. (Act 2015-50, p. 173, §14; Act 2018-290, §1.)
AL Code § 23-7-15 (2021)
2021 Code of Alabama|Title 23 - Highways, Roads, Bridges and Ferries.|Chapter 7 - Alabama Transportation Infrastructure Bank Act.|Section 23-7-15 - Annual Report; Audit.

Section 23-7-15Annual report; audit. Following the close of each state fiscal year, the bank shall submit an annual report of its activities for the preceding year to the Governor and to the Legislature. The bank also shall submit an annual report to the appropriate federal agency in accordance with requirements of any federal program. An independent certified public accountant or the Department of Examiners of Public Accounts shall perform an audit of the books and accounts of the bank at least once in each state fiscal year. (Act 2015-50, p. 173, §15; Act 2018-290, §1.)
AL Code § 23-7-16 (2021)
2021 Code of Alabama|Title 23 - Highways, Roads, Bridges and Ferries.|Chapter 7 - Alabama Transportation Infrastructure Bank Act.|Section 23-7-16 - Construction of Chapter.

Section 23-7-16Construction of chapter.  This chapter, being for the welfare of this state and its inhabitants, shall be liberally construed to effect the purposes specified in this chapter. However, nothing in this chapter shall be construed as affecting any proceeding, notice, or approval required by law for the issuance by a government unit of the loan obligations, instruments, or security for loan obligations. (Act 2015-50, §16.)
AL Code § 23-7-17 (2021)
2021 Code of Alabama|Title 23 - Highways, Roads, Bridges and Ferries.|Chapter 7 - Alabama Transportation Infrastructure Bank Act.|Section 23-7-17 - Bonds Authorized.

Section 23-7-17Bonds authorized.  (a) Whenever it shall become necessary that monies be raised for qualified projects, including monies to be used to refund any bonds then outstanding, the bank may issue bonds as provided in this chapter. (b) The bank may pledge any of its revenue or funds to the payment of its bonds, subject to any prior pledges for other outstanding bonds or other financial assistance of the bank and, in the case of those revenues described in subdivisions (1) and (2) of subsection (a) and subsection (b) of Section 23-7-6, pledges by Alabama Federal Aid Highway Finance Authority and Alabama Highway Finance Corporation of the revenues for bonds issued by those entities. Bonds may be secured by a pledge of any loan obligation owned by the bank, any grant, contribution, or guaranty from the United States, the state, or any corporation, association, institution, or person, any other financial assistance provided by the bank, any bond insurance, guarantees, letters of credit, or other forms of credit enhancement purchased or otherwise obtained by the bank from any public or private entity, any other property or assets of the bank, or a pledge of any money, income, or revenue of the bank from any source. (Act 2015-50, p. 173, §17; Act 2018-290, §1.)
AL Code § 23-7-18 (2021)
2021 Code of Alabama|Title 23 - Highways, Roads, Bridges and Ferries.|Chapter 7 - Alabama Transportation Infrastructure Bank Act.|Section 23-7-18 - Liability for Bonds.

Section 23-7-18Liability for bonds. Bonds, other financial assistance, and other obligations issued by the bank shall not constitute an obligation or debt of this state, or any of its political subdivisions, but shall be limited obligations of the bank payable solely from the revenue, money, or property of the bank pledged for such purpose as provided in this chapter. Any bonds, other financial assistance, or other obligations of the bank issued do not constitute an indebtedness of the state or any of its political subdivisions within the meaning of any constitutional or statutory limitation, and neither the full faith and credit nor the taxing power of the state, or any of its political subdivisions, is pledged to the payment thereof. No member of the bank or any person executing bonds, other financial assistance, or other obligations of the bank is liable personally thereon by reason of their issuance or execution. Each bond, other financial assistance, and other obligation issued under this chapter shall contain on its face a statement to the effect of the following: (1) The instrument is not a general obligation of the bank, but is a limited obligation of the bank payable solely from the revenue, money, or property of the bank pledged. (2) The instrument is not an obligation or debt of the state, or any of its political subdivisions, and neither the full faith and credit nor the taxing power of the state, or any of its political subdivisions, is pledged to the payment of the instrument. (3) The bank does not have taxing power. (Act 2015-50, p. 173, §18; Act 2018-290, §1.)
AL Code § 23-7-19 (2021)
2021 Code of Alabama|Title 23 - Highways, Roads, Bridges and Ferries.|Chapter 7 - Alabama Transportation Infrastructure Bank Act.|Section 23-7-19 - Requirements for Bonds.

Section 23-7-19Requirements for bonds.  (a) The bonds of the bank must be authorized by a resolution of the bank.  (b) The bonds shall bear the date and mature at the time which the resolution provides, except that no bond may mature more than 40 years from its date of issue.  (c) The bonds may be in the denominations, be executed in the manner, be payable in the medium of payment, be payable at the place and at the time, and be subject to redemption or repurchase and contain other provisions determined by the bank prior to their issuance. (d) The bonds may bear interest payable at a time and at a rate as determined by the bank, including the determination by agents designated by the bank under guidelines established by it. (e) Bonds may be sold by the bank at public or private sale at the price it determines and approves. (Act 2015-50, p. 173, §19; Act 2018-290, §1.)
AL Code § 23-7-21 (2021)
2021 Code of Alabama|Title 23 - Highways, Roads, Bridges and Ferries.|Chapter 7 - Alabama Transportation Infrastructure Bank Act.|Section 23-7-21 - Securing of Bonds - Pledge.

Section 23-7-21Securing of bonds - Pledge. (a) Any pledge made by the bank to secure its obligations with respect to bonds or other financial assistance is valid and binding from the time the pledge is made. The revenue, money, or property pledged and received by the bank is immediately subject to the lien of the pledge without any physical delivery or further act. The lien of any pledge is valid and binding as against all parties having claims of any kind in tort, contract, or otherwise against the bank, irrespective of whether the parties have notice of the pledge. (b) No recording or filing of the resolution authorizing the issuance of bonds or other financial assistance, the trust indenture or other financing agreement securing the bonds or other financial assistance, or any other instrument including filings under the Uniform Commercial Code is necessary to create or perfect any pledge or security interest granted by the bank to secure any bonds or other financial assistance. (Act 2015-50, p. 173, §21; Act 2018-290, §1.)
AL Code § 23-7-22 (2021)
2021 Code of Alabama|Title 23 - Highways, Roads, Bridges and Ferries.|Chapter 7 - Alabama Transportation Infrastructure Bank Act.|Section 23-7-22 - Purchase of Outstanding Bonds.

Section 23-7-22Purchase of outstanding bonds.  The bank, subject to agreements with bondholders as may then exist, may purchase outstanding bonds of the bank with any available funds, at any reasonable price. If the bonds are then redeemable, the price shall not exceed the redemption price then applicable plus accrued interest to the next interest payment date. (Act 2015-50, §22.)
AL Code § 23-7-23 (2021)
2021 Code of Alabama|Title 23 - Highways, Roads, Bridges and Ferries.|Chapter 7 - Alabama Transportation Infrastructure Bank Act.|Section 23-7-23 - Form and Execution of Bonds.

Section 23-7-23Form and execution of bonds.  Bonds of the bank shall be in a form and shall be executed in a manner prescribed by the bank. (Act 2015-50, §23.)
AL Code § 23-7-24 (2021)
2021 Code of Alabama|Title 23 - Highways, Roads, Bridges and Ferries.|Chapter 7 - Alabama Transportation Infrastructure Bank Act.|Section 23-7-24 - Validity of Signatures on Bonds.

Section 23-7-24Validity of signatures on bonds.  If any of the members or officers of the bank cease to be members before the delivery of any bonds signed by them, their signatures or authorized facsimile signatures are nevertheless valid and sufficient for all purposes as if they had remained in office until the delivery of the bonds. (Act 2015-50, §24.)
AL Code § 23-7-25 (2021)
2021 Code of Alabama|Title 23 - Highways, Roads, Bridges and Ferries.|Chapter 7 - Alabama Transportation Infrastructure Bank Act.|Section 23-7-25 - Limitation on Amendments.

Section 23-7-25Limitation on amendments.  Subsequent amendments to this chapter may not limit the rights vested in the bank with respect to any agreements made with, or remedies available to, the holders of bonds issued under this chapter before the enactment of the amendments until the bonds, with all premiums and interest on them, and all costs and expenses in connection with any proceeding by or on behalf of the holders, are fully met and discharged. (Act 2015-50, §25.)
AL Code § 23-7-26 (2021)
2021 Code of Alabama|Title 23 - Highways, Roads, Bridges and Ferries.|Chapter 7 - Alabama Transportation Infrastructure Bank Act.|Section 23-7-26 - Taxation of Bonds and Income.

Section 23-7-26Taxation of bonds and income.  Any bonds issued by the bank, the transfer of bonds, and the income from them, are free from taxation and assessment of every kind by the state and by the local governments and other political subdivisions of the state. (Act 2015-50, §26.)
AL Code § 23-7-27 (2021)
2021 Code of Alabama|Title 23 - Highways, Roads, Bridges and Ferries.|Chapter 7 - Alabama Transportation Infrastructure Bank Act.|Section 23-7-27 - Construction and Use of Bonds.

Section 23-7-27Construction and use of bonds. (a) The bonds issued by the bank are legal investments in which all public officers or public bodies of the state, its political subdivisions, all municipalities and political subdivisions, all insurance companies and associations and other persons carrying on insurance business, all banks, bankers, banking associations, trust companies, savings banks, savings associations, including savings and loan association investment companies, and other persons carrying on a banking business, all administrators, guardians, executors, trustees, and other fiduciaries, and all other persons who are now or may be authorized in the future to invest in bonds or other obligations of the state, may invest funds in their control or belonging to them. (b) The bonds of the bank are also securities which may be deposited with and received by all public officers and bodies of the state or any agency or political subdivision of the state and all municipalities and public corporations for any purpose for which the deposit of bonds or other obligations of the state is now or may later be required by law. (Act 2015-50, §27.)
AL Code § 23-7-28 (2021)
2021 Code of Alabama|Title 23 - Highways, Roads, Bridges and Ferries.|Chapter 7 - Alabama Transportation Infrastructure Bank Act.|Section 23-7-28 - Performance of Contracts by Legal Residents of Alabama.

Section 23-7-28Performance of contracts by legal residents of Alabama.  Except as otherwise prohibited by Federal law, all contracts funded with the revenue or bond proceeds which are authorized pursuant to this chapter shall be performed by a workforce which consists of only legal residents of the State of Alabama. (Act 2015-50, §28.)
AL Code § 23-7-29 (2021)
2021 Code of Alabama|Title 23 - Highways, Roads, Bridges and Ferries.|Chapter 7 - Alabama Transportation Infrastructure Bank Act.|Section 23-7-29 - Other Financial Assistance Authorized.

Section 23-7-29Other financial assistance authorized. (a) The granting of other financial assistance by the bank shall be authorized by a resolution of the bank. (b) The bank may execute instruments and enter into financing agreements, including, without limitation, a trust indenture between the bank and a corporate trustee, which may be the State Treasurer or any bank having trust powers or any trust company doing business in this state, containing the terms and conditions as the bank shall determine in connection with the provision of other financial assistance and securing its obligations with respect to other financial assistance. (c) The bank may pledge any of its revenues or funds to the payment of other financial assistance provided by the bank, subject to any prior pledges for outstanding bonds or other financial assistance of the bank and, in the case of those revenues described in subdivisions (1) and (2) of subsection (a) and subsection (b) of Section 23-7-6, the pledges by Alabama Federal Aid Highway Finance Authority and Alabama Highway Finance Corporation of the revenues for bonds issued by the entities. Other financial assistance may be secured by a pledge of any loan obligation owned by the bank, any grant, contribution, or guaranty from the United States, the state, or any corporation, association, institution, or person, any other property or assets of the bank, or a pledge of any money, income, or revenue of the bank from any source. (Act 2018-290, §2.)
AL Code § 23-7-30 (2021)
2021 Code of Alabama|Title 23 - Highways, Roads, Bridges and Ferries.|Chapter 7 - Alabama Transportation Infrastructure Bank Act.|Section 23-7-30 - Net Earnings of Bank Not to Inure to Benefit of Any Individual, Firm, or Corporation.

Section 23-7-30Net earnings of bank not to inure to benefit of any individual, firm, or corporation. The bank shall be a nonprofit corporation and no part of its net earnings remaining after payment of its expenses shall inure to the benefit of any individual, firm, or corporation, except that in the event its board of directors shall determine that sufficient provision has been made for the full payment of the expenses, bonds, other financial assistance, and other obligations of the bank, then any net earnings of the bank thereafter accruing shall be paid to the state. (Act 2018-290, §2.)
AL Code § 23-7-31 (2021)
2021 Code of Alabama|Title 23 - Highways, Roads, Bridges and Ferries.|Chapter 7 - Alabama Transportation Infrastructure Bank Act.|Section 23-7-31 - Dissolution of Bank.

Section 23-7-31Dissolution of bank. At any time when no bonds, other financial assistance, or other obligations of the bank are outstanding, the bank may be dissolved upon the filing with the Secretary of State of an application for dissolution, which shall be subscribed by each of the directors of the bank and which shall be sworn to by each director before an officer authorized to take acknowledgments to deeds. Upon the filing of the application for dissolution, the bank shall cease and any property owned by it at the time of its dissolution shall pass to the state. The Secretary of State shall file and record the application for dissolution, in an appropriate book of record in his or her office, and shall make and issue, under the Great Seal of the State, a certificate that the bank is dissolved and shall record the certificate with the application for dissolution. (Act 2018-290, §2.)
AL Code § 23-8-1 (2021)
2021 Code of Alabama|Title 23 - Highways, Roads, Bridges and Ferries.|Chapter 8 - Rebuild Alabama Act|Section 23-8-1 - Short Title.

Section 23-8-1Short title. This chapter and Article 12A, Chapter 17 of Title 40, and Sections 11-6-4, 11-6-23, 40-12-242, 40-17-331, as amended by Act 2019-2, shall be known and may be cited as the Rebuild Alabama Act. (Act 2019-2, 1st Sp. Sess., §1.)