reglab/statecodes huggingface dataset:
2023 Code of Alabama › Title 16 - Education. › Chapter 16A - Base Realignment and Closure Distributions. › Section 16-16A-5 - Calculation; Criteria and Procedures.

Section 16-16A-5
Calculation; criteria and procedures.
The City of Huntsville Federal Building Authority is hereby authorized to calculate the amount of BRAC Distribution that is due to each county or city school system and the Public School and College Authority shall specify criteria and procedures for the application, approval, and monitoring of the benefits under this chapter.
(Act 2010-551, p. 980, §5.)
2023 Code of Alabama › Title 16 - Education. › Chapter 16A - Base Realignment and Closure Distributions. › Section 16-16A-6 - Requirements for Authorization of Bonds.

Section 16-16A-6
Requirements for authorization of bonds.
The Authority shall not authorize any bonds unless and until employers located in the BRAC Impacted Area provide a certification and possess proof of the number of employees in the BRAC Impacted Area directly existing because of the 2005 BRAC or Subsequent BRAC Actions, or as a result of administrative actions by a United States government agency, department, or organization, as of January 1, 2010, to the City of Huntsville Federal Building Authority and to the Authority. The City of Huntsville Federal Building Authority shall request of the Garrison, or its designee, the number of persons employed at Redstone Arsenal and shall provide such information to the Authority. In order to prevent double-counting of employees in the BRAC Impacted Area in the case of private employers, the certifications shall delineate between employees located at Redstone Arsenal and those not located at Redstone Arsenal. The number of jobs in the BRAC Impacted Area shall be the sum of the number of employees employed on Redstone Arsenal plus the total number of jobs not on Redstone Arsenal but inside the BRAC Impacted Area directly existing because of the 2005 BRAC or Subsequent BRAC Actions, or as a result of administrative actions by a United States government agency, department, or organization. On or before December 31 of each year until the bond proceeds are issued, the City of Huntsville Federal Building Authority shall submit a report to the Governor and to the Director of Finance detailing the number of jobs within the BRAC Impacted Area created since the Baseline Date.
(Act 2010-551, p. 980, §6.)
2023 Code of Alabama › Title 16 - Education. › Chapter 16A - Base Realignment and Closure Distributions. › Section 16-16A-8 - Counties Authorized to Participate.

Section 16-16A-8
Counties authorized to participate.
In addition to the counties participating under Section 16-16A-7, Jackson County and Marshall County may also participate in the funding benefits of this chapter.
(Act 2010-551, p. 980, §8; Act 2012-562, §1.)
2023 Code of Alabama › Title 16 - Education. › Chapter 16A - Base Realignment and Closure Distributions. › Section 16-16A-9 - Disposition of Funds.

Section 16-16A-9
Disposition of funds.
(a) The proceeds derived from each sale of the Bonds issued pursuant to this chapter shall be deposited in the State Treasury and shall be carried in a separate fund therein for the account of the Authority, which shall pay the expenses of issuance therefrom. The expenses of issuance of the Bonds shall be prorated among the recipients of the proceeds from the sale of the Bonds in proportions they receive allocations of the proceeds thereunder. The proceeds from the sale of the Bonds remaining after payment of the expenses of issuance thereof shall be retained in said fund and, until they are paid out, shall be invested by the State Treasurer at the direction of the Authority in Permitted Investments maturing at such time or times as the Authority shall direct.
(b) Proceeds from the sale of the Bonds and the earnings thereon shall be paid out from time to time on orders or warrants issued by or at the direction of the Authority for any one or more of the purposes specified in this chapter, and for reimbursement to the Alabama Building Commission for its reasonable direct cost in reviewing plans, specifications and contract documents prepared and in supervising and inspecting the work.
(Act 2010-551, p. 980, §9.)
2023 Code of Alabama › Title 16 - Education. › Chapter 16B - Alabama Ahead Act. › Section 16-16B-3 - (Implementation Conditioned on Separate Legislative enactment.) Authorization to Issue Additional Bonds and Purposes Thereof.

Section 16-16B-3
(Implementation Conditioned on Separate Legislative Enactment.) Authorization to issue additional bonds and purposes thereof.
(a) The Authority is hereby authorized to sell and issue its Bonds in the aggregate principal amount of up to $100,000,000 and to apply the proceeds as provided in this chapter, to include the following purposes: Paying the costs of acquisition and maintaining computer equipment, software, and digital textbooks for public education purposes in the State.
(b) The Bonds authorized by this chapter to be issued by the Authority shall be in addition to all other bonds previously authorized to be issued by it, and the powers conferred on the Authority by this chapter are in addition to all other powers heretofore conferred on the Authority by acts heretofore enacted by the Legislature.
(Act 2012-560, p. 1645, §3.)
2023 Code of Alabama › Title 16 - Education. › Chapter 16B - Alabama Ahead Act. › Section 16-16B-7 - (Implementation Conditioned on Separate Legislative enactment.) Bonds to Be Payable Solely Out of the Revenues Appropriated; Authorization for Authority to Pledge Such Revenues for the Bonds.

Section 16-16B-7
(Implementation Conditioned on Separate Legislative Enactment.) Bonds to be payable solely out of the revenues appropriated; authorization for authority to pledge such revenues for the bonds.
The Bonds shall not be general obligations of the Authority but shall be limited obligations payable solely out of the residues of the tax receipts appropriated and pledged in Section 16-16B-6. All Bonds issued by the Authority pursuant to the provisions of this chapter shall be solely and exclusively obligations of the Authority and shall not constitute or create an obligation or debt of the State. As security for the payment of the principal of, premium, if any, and interest on the Bonds, the Authority is hereby authorized and empowered to pledge the residues of the tax receipts that are appropriated and pledged in Section 16-16B-6 hereof for such purposes. All such pledges made by the Authority shall take precedence in the order of the adoption of the resolutions containing the pledges. All such pledges shall be prior and superior to any pledges that may be made for any refunding bonds hereafter issued by the Authority under the provisions of any of the 1965 Act, the 1971 Acts, the 1973 Act, the 1978 Act, the 1985 Act, the 1990 Act, the 1995 Act, the 1998 Act, the 1999 Act, the 2001 Act, the 2002 Act, the 2003 Act, the 2007 Act, or any other act heretofore enacted.
(Act 2012-560, p. 1645, §7.)
2023 Code of Alabama › Title 16 - Education. › Chapter 16B - Alabama Ahead Act. › Section 16-16B-9 - (Implementation Conditioned on Separate Legislative enactment.) Use of Bond Proceeds.

Section 16-16B-9
(Implementation Conditioned on Separate Legislative Enactment.) Use of bond proceeds.
(a) The proceeds derived from each sale of the Bonds issued pursuant to this chapter shall be deposited in the State Treasury and shall be carried in a separate fund therein for the account of the Authority, which shall pay the expenses of issuance therefrom. The expenses of issuance of the Bonds shall be prorated among the recipients of the proceeds from the sale of the Bonds in proportions they receive allocations of the proceeds thereunder. The proceeds from the sale of the Bonds remaining after payment of the expenses of issuance thereof shall be retained in said fund and, until they are paid out, shall be invested by the State Treasurer at the direction of the Authority in Permitted Investments maturing at such time or times as the Authority shall direct.
(b) Proceeds from the sale of the Bonds and the earnings thereon shall be paid out from time to time on orders or warrants issued by or at the direction of the Authority to the State Department of Education to be expended for the acquisition and maintenance of the computer equipment, software, and digital textbooks authorized in Section 16-16B-1.
(Act 2012-560, p. 1645, §9.)
2023 Code of Alabama › Title 16 - Education. › Chapter 16B - Alabama Ahead Act. › Section 16-16B-10 - (Implementation Conditioned on Separate Legislative enactment.) Disposition of Funds.

Section 16-16B-10
(Implementation Conditioned on Separate Legislative Enactment.) Disposition of funds.
Notwithstanding any of the foregoing and in addition to all powers heretofore granted to the Authority, the Authority is hereby expressly authorized to use the proceeds derived from the sale of Bonds and income on Permitted Investments in accordance with the provisions of this chapter. The Authority is hereby expressly permitted to pay to the Department of Finance and the State Treasurer's Office, from time to time and from any funds available to the Authority, amounts to offset costs incurred in the administration of the business of the Authority. The cost of such compensation shall be prorated among the recipients of proceeds of the Bonds in the same manner as the expenses of issuance of the Bonds are required hereby to be prorated.
(Act 2012-560, p. 1645, §10.)
2023 Code of Alabama › Title 16 - Education. › Chapter 16B - Alabama Ahead Act. › Section 16-16B-11 - (Implementation Conditioned on Separate Legislative enactment.) Tax Exemption.

Section 16-16B-11
(Implementation Conditioned on Separate Legislative Enactment.) Tax exemption.
The Authority shall have the power to make such payments to the United States of America as the board of directors of the Authority deems necessary to cause the interest on any bonds of the Authority, including the Bonds, to be and remain exempt from, or excludible from gross income for purposes of, federal income taxation. The Authority shall have the power to make such agreements respecting the investment of funds of the Authority as the Authority shall deem necessary in order that the interest income on bonds of the Authority be and remain exempt from, or excludible from gross income for purposes of, federal income taxation.
(Act 2012-560, p. 1645, §11.)
2023 Code of Alabama › Title 16 - Education. › Chapter 16B - Alabama Ahead Act. › Section 16-16B-12 - (Implementation Conditioned on Separate Legislative enactment.) Issuance Expenses; Contracts and Appointments.

Section 16-16B-12
(Implementation Conditioned on Separate Legislative Enactment.) Issuance expenses; contracts and appointments.
The Authority is authorized to pay out of proceeds of any series of Bonds the costs and expenses incurred in connection with the issuance of such Bonds, including without limitation legal and accounting fees and expenses, fees and expenses of any financial or fiscal advisor employed by the Authority, printing costs, rating agency fees, and premiums or charges for any credit enhancement or liquidity providers. Notwithstanding any provision of this chapter or the 1965 Act, in appointing, employing, or contracting with attorneys, fiscal advisers, trustees, paying agents, investment bankers, banks and underwriters, the Authority may appoint, employ or contract with firms whose principal offices are located without or within Alabama. The Authority shall hire or contract with attorneys, fiscal advisors, trustees, paying agents, investment bankers, banks, and underwriters which reflect the racial and ethnic diversity of the state. The Authority shall issue Requests For Proposals for attorneys, fiscal advisors, trustees, paying agents, investment bankers, banks, and underwriters. The Authority shall evaluate each proposed bid publicly and award each contract publicly. Minutes of the Authority's meeting shall record the reasons for awarding each contract.
(Act 2012-560, p. 1645, §12.)
2023 Code of Alabama › Title 16 - Education. › Chapter 17 - Educational Building Authorities. › Section 16-17-2 - Legislative Intent.

Section 16-17-2
Legislative intent.
It is the purpose of the Legislature by this chapter to authorize the incorporation of educational building authorities as public corporations and as political subdivisions of the state for the purpose of providing ancillary improvements for use in connection with educational institutions in this state, and to invest each authority organized hereunder with all power that may be necessary or appropriate to enable it to accomplish such purpose, including but without limitation to the power to lease its properties and to issue interest-bearing revenue bonds. This chapter shall be liberally construed in conformity with the said intent.
(Acts 1966, Ex. Sess., No. 222, p. 325, §2.)
2023 Code of Alabama › Title 16 - Education. › Chapter 17 - Educational Building Authorities. › Section 16-17-5 - Board of Directors.

Section 16-17-5
Board of directors.
Each authority shall be governed by a board of directors. All powers of the authority shall be exercised by the board or pursuant to its authorization. The board shall consist of three directors elected, as soon as may be practicable after the organization of the authority, by the governing body of the determining municipality for staggered terms as follows: The first term of one director shall begin immediately upon his election and shall end at noon on the second Monday of November of the next succeeding odd-numbered calendar year following his election; the first term of another director shall begin immediately upon his election and shall end at noon on the second Monday of November of the second succeeding odd-numbered calendar year following his election; and the first term of the remaining director shall begin immediately upon his election and shall end at noon on the second Monday of November of the third succeeding odd-numbered calendar year following his election. Thereafter, the term of office of each director shall be six years, commencing at noon on the second Monday of November when the term of the immediate predecessor director ended. If at any time there should be a vacancy on the board, a successor director to serve for the unexpired term applicable to such vacancy shall be elected by the governing body of the determining municipality. Each election of a director subsequent to the selection of the initial directors, whether for a full six-year term or to complete an unexpired term, shall be made not earlier than 30 days prior to the date on which such director is to take office as such. No officer of the state or of any county or municipality shall, during his tenure as such officer, be eligible to serve as a director. Each director must be a qualified elector and the owner of real property in the determining municipality. Directors shall be eligible for reelection. Each director shall serve without compensation, except that he may be reimbursed for expenses actually incurred by him in and about the performance of his duties. A majority of the directors 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 of the powers and duties of the authority. Any director of the authority may be impeached and removed from office in the same manner and on the same grounds provided by Section 175 of the Constitution of Alabama and the general laws of the state for impeachment and removal of the officers mentioned in said Section 175. All proceedings of the board shall be reduced to writing by the secretary of the authority and recorded in a well-bound book. Copies of such proceedings, when certified by the secretary of the authority under the seal of the authority, shall be received in all courts as evidence of the matters therein certified.
(Acts 1966, Ex. Sess., No. 222, p. 325, §5.)
2023 Code of Alabama › Title 16 - Education. › Chapter 17 - Educational Building Authorities. › Section 16-17-6 - Officers of Authority.

Section 16-17-6
Officers of authority.
The officers of an authority shall consist of a chairman, vice-chairman, secretary, treasurer and such other officers as its board shall deem necessary or appropriate. The offices of secretary and treasurer may but need not be held by the same person. The chairman and vice-chairman of an authority shall be elected by the board from its membership; the secretary, the treasurer and any other officers of the authority may but need not be members of the board and shall also be elected by the board. The chairman and vice-chairman of the authority shall also be the chairman and vice-chairman of the board, respectively.
(Acts 1966, Ex. Sess., No. 222, p. 325, §6.)
2023 Code of Alabama › Title 16 - Education. › Chapter 17 - Educational Building Authorities. › Section 16-17-8 - Location of Ancillary Improvements.

Section 16-17-8
Location of ancillary improvements.
Any ancillary improvements of the authority may be located within or without or partially within and partially without the determining municipality, subject to the following conditions:
(1) No such ancillary improvements, or part thereof, shall be located more than 15 miles from the corporate limits of the determining municipality;
(2) In no event shall any ancillary improvements or part thereof be located within the corporate limits or the police jurisdiction of a municipality in this state other than the determining municipality, unless the governing body of such other municipality has first adopted a resolution consenting to the location of such ancillary improvements or part thereof in the corporate limits or in the police jurisdiction of such municipality; and
(3) No such ancillary improvements or part thereof shall be located in a county other than that (or those) in which the determining municipality (or part thereof) is situated unless the county commission has first adopted a resolution consenting to the location of such ancillary improvements or part thereof in such county.
(Acts 1966, Ex. Sess., No. 222, p. 325, §8.)
2023 Code of Alabama › Title 16 - Education. › Chapter 17 - Educational Building Authorities. › Section 16-17-9 - Remedies Under Lease Agreements.

Section 16-17-9
Remedies under lease agreements.
If there is any default in the payment of any rental required to be paid or in the performance of any covenant required to be performed by any educational institution under the provisions of any lease agreement between such educational institution and an authority, the authority and any pledgee of such lease agreement, or either, may by appropriate proceedings enforce and compel payment of such rental and performance of such covenant.
(Acts 1966, Ex. Sess., No. 222, p. 325, §9.)
2023 Code of Alabama › Title 16 - Education. › Chapter 17 - Educational Building Authorities. › Section 16-17-11 - Contracts to Secure Bonds and Assumed Obligations.

Section 16-17-11
Contracts to secure bonds and assumed obligations.
As security for payment of the principal of and interest on bonds issued or obligations assumed by it, the authority may enter into a contract or contracts binding itself for the proper application of the proceeds of bonds and other funds, for the continued operation, maintenance and disposition (including lease) of any ancillary improvements or part thereof owned by it, for the imposition and collection of reasonable rentals from such ancillary improvements, for the disposition and application of its gross revenues or any part thereof and for any other act or series of acts not inconsistent with the provisions of this chapter for the protection of the bonds and other obligations being secured and the assurance that the revenues from such ancillary improvements will be sufficient to operate such ancillary improvements, maintain the same in good repair and in good operating condition, pay the principal of and interest on any bonds payable from such revenues and maintain such reserves as may be deemed appropriate for the protection of the bonds, the efficient operation of such ancillary improvements and the making of replacements thereof and capital improvements thereto. Any contract made pursuant to the provisions of this section may be set forth in any resolution of the board authorizing the issuance of bonds or the assumption of obligations or in any mortgage and deed of trust, or trust indenture, made by the authority hereunder.
(Acts 1966, Ex. Sess., No. 222, p. 325, §11.)
2023 Code of Alabama › Title 16 - Education. › Chapter 17 - Educational Building Authorities. › Section 16-17-12 - Statutory Mortgage Lien.

Section 16-17-12
Statutory mortgage lien.
Any resolution of the board or trust indenture under which bonds may be issued pursuant to the provisions of this chapter may contain provisions creating a statutory mortgage lien in favor of the holders of such bonds and of the interest coupons applicable thereto on the ancillary improvements or any part thereof (including any after-acquired property) out of the revenues from which such bonds are made payable. The said resolution of the board or the said trust indenture may provide for the filing for record in the office of the judge of probate of each county in which any part of such ancillary improvements may be located of a notice containing a brief description of such ancillary improvements and of the land relating thereto, a brief description of such bonds and a declaration that the said statutory mortgage lien has been created upon such ancillary improvements (and upon such land as shall be made subject to the lien) for the benefit of the holders of such bonds and the interest coupons applicable thereto, including any additions thereto and extensions thereof. Each judge of probate shall receive, record and index any such notice filed for record in his office. The filing of such notice, as herein provided, shall operate as constructive notice of the contents thereof. Such lien shall be valid and binding against all parties having claims of any kind in tort, contract or otherwise against the authority, irrespective of whether the parties have actual notice thereof, from the time such notice is filed in the office of the judge of probate as herein provided.
(Acts 1966, Ex. Sess., No. 222, p. 325, §12.)
2023 Code of Alabama › Title 16 - Education. › Chapter 17 - Educational Building Authorities. › Section 16-17-13 - Proceeds From Sale of Bonds.

Section 16-17-13
Proceeds from sale of bonds.
All moneys derived from the sale of any bonds issued by the authority shall be used solely for the purpose or purposes for which the same are authorized and any costs and expenses incidental thereto. Such costs and expenses may include but shall not be limited to:
(1) The engineering, legal, architectural, fiscal and other expenses incurred in connection with the issuance of the bonds;
(2) In the case of bonds issued to pay costs of construction, interest on such bonds (or, if a part only of any series of bonds is issued for construction purposes, interest on that portion of the bonds of that series that is issued to pay construction costs) prior to and during such construction and for not exceeding one year after completion of such construction; and
(3) In the case of bonds issued for the purpose of refunding principal and interest, or either, with respect to bonds issued or obligations assumed by the authority, any premium that it may be necessary to pay in order to redeem or retire the bonds or other obligations to be refunded.
(Acts 1966, Ex. Sess., No. 222, p. 325, §13.)
2023 Code of Alabama › Title 16 - Education. › Chapter 17 - Educational Building Authorities. › Section 16-17-14 - Exemption From Taxation.

Section 16-17-14
Exemption from taxation.
The authority, the property and income of the authority, all bonds issued by the authority, the income from such bonds, conveyances by or to the authority and leases, mortgages and deeds of trust by or to the authority shall be exempt from all taxation in the State of Alabama. No license or excise tax may be imposed on any authority in respect of the privilege of engaging in any of the activities authorized by this chapter.
(Acts 1966, Ex. Sess., No. 222, p. 325, §14.)
2023 Code of Alabama › Title 16 - Education. › Chapter 17 - Educational Building Authorities. › Section 16-17-15 - Freedom of Authority From State Supervision and Control.

Section 16-17-15
Freedom of authority from state supervision and control.
This chapter is intended to aid the state in the execution of its duties by providing appropriate and independent instrumentalities of the state with full and adequate powers to fulfill their functions. Except as in this chapter expressly otherwise provided, no proceeding, notice or approval shall be required for the incorporation of any authority or the amendment of its certificate of incorporation, the acquisition of any property or ancillary improvements or the issuance of any bonds, mortgage and deed of trust or trust indenture. Neither a public hearing nor the consent of the State Department of Finance shall be prerequisite to the issuance of bonds by the authority.
(Acts 1966, Ex. Sess., No. 222, p. 325, §15.)
2023 Code of Alabama › Title 16 - Education. › Chapter 17 - Educational Building Authorities. › Section 16-17-16 - Earnings of Authority.

Section 16-17-16
Earnings of authority.
The authority 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, association or corporation; except, that in the event the board of directors of the authority shall determine that sufficient provision has been made for the full payment of the expenses, bonds and other obligations of the authority, then any net earnings thereafter accruing shall be paid to the determining municipality or to an educational institution to construct, operate or maintain ancillary improvements, as the board of directors may direct by resolution.
(Acts 1966, Ex. Sess., No. 222, p. 325, §16; Acts 1978, No. 841, p. 1258, §1.)
2023 Code of Alabama › Title 16 - Education. › Chapter 17 - Educational Building Authorities. › Section 16-17-17 - Investments in Bonds of Authority.

Section 16-17-17
Investments in bonds of authority.
Unless otherwise directed by the court having jurisdiction thereof or by the document that 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 and other fiduciary funds in bonds of the authority.
(Acts 1966, Ex. Sess., No. 222, p. 325, §17.)
2023 Code of Alabama › Title 16 - Education. › Chapter 17 - Educational Building Authorities. › Section 16-17-18 - Notice of Bond Resolution.

Section 16-17-18
Notice of bond resolution.
Upon the adoption by the board of any resolution providing for the issuance of bonds, the authority may, in its discretion, cause to be published once a week for two consecutive weeks, in a newspaper published in the determining municipality, or if there is no newspaper published in the determining municipality, then in a newspaper published in the county in which the determining municipality or any part thereof is located, a notice in substantially the following form (the blanks being properly filled in) at the end of which shall be printed the name and title of either the chairman or secretary of the authority:
"____, a public corporation and a political subdivision of the State of Alabama, on the ____ day of ____, authorized the issuance of $____ principal amount of revenue bonds of the said public corporation for purposes authorized in the act of the Legislature of Alabama under which the said public corporation was organized. Any action or proceeding questioning the validity of the said bonds, or the pledge and the indenture to secure the same, or the proceedings authorizing the same, must be commenced within 20 days after the first publication of this notice."
Any action or proceeding in any court to set aside or question the proceedings for the issuance of the bonds referred to in said notice or to contest the validity of any such bonds, or the validity of the pledge and indenture made therefor, must be commenced within 20 days after the first publication of such notice. After the expiration of the said period, no right of action or defense questioning or attacking the validity of the said proceedings or of the said bonds or the said pledge or indenture shall be asserted, nor shall the validity of the said proceedings, bonds, pledge or indenture be open to question in any court on any ground whatsoever except in an action commenced within such period.
(Acts 1966, Ex. Sess., No. 222, p. 325, §18.)
2023 Code of Alabama › Title 16 - Education. › Chapter 17 - Educational Building Authorities. › Section 16-17-19 - Dissolution of Authority and Vesting of Title to Its Properties.

Section 16-17-19
Dissolution of authority and vesting of title to its properties.
At any time when the authority does not have any bonds outstanding and when there shall be no obligations assumed by the authority that are then outstanding, the board may adopt a resolution, which shall be duly entered upon its minutes, declaring that the authority shall be dissolved. Upon the filing for record of a certified copy of said resolution in the office of the judge of probate of the county in which the authority's original certificate of incorporation was filed, the authority shall thereupon stand dissolved, and in the event it owned any property at the time of its dissolution, the title to all its property shall thereupon vest in the determining municipality. In the event the authority shall at any time have outstanding bonds issued hereunder payable out of the revenues from various ancillary improvements, then, as and when the principal of and the interest on all bonds payable, in whole or in part, from the revenues derived from any particular ancillary improvements shall have been paid in full, title to the ancillary improvements with respect to which the bonds so paid in full have been paid shall thereupon vest in the determining municipality or in an educational institution as the board of directors may direct by resolution, but such vesting of title shall not affect the title of the authority to any other ancillary improvements the revenues from which are pledged for the payment of any other bonds then outstanding. The formation of one or more authorities under the provisions of this chapter shall not prevent the subsequent formation hereunder of other authorities with respect to the same determining municipality.
(Acts 1966, Ex. Sess., No. 222, p. 325, §19; Acts 1978, No. 841, p. 1258, §1.)
2023 Code of Alabama › Title 16 - Education. › Chapter 17A - University Authority Act of 2016. › Section 16-17A-3 - Incorporation of Authority.

Section 16-17A-3
Incorporation of authority.
(a) In order to incorporate an authority, the sponsoring university shall adopt a resolution containing at least the following provisions:
(1) A finding that it is necessary, desirable, and in the best interests of the sponsoring university that the proposed authority be incorporated.
(2) Approval of the form of articles of incorporation, which shall comply with the provisions of Section 16-17A-4.
(3) Authorization to proceed to form the proposed authority by executing the articles of incorporation approved by the sponsoring university and filing the same with the Secretary of State.
(b) A university may incorporate more than one authority if it determines that each authority promotes the public health mission of the university.
(Act 2016-201, §3.)
2023 Code of Alabama › Title 16 - Education. › Chapter 17A - University Authority Act of 2016. › Section 16-17A-4 - Articles of Incorporation - Requirements.

Section 16-17A-4
Articles of incorporation - Requirements.
(a) In addition to any other matters relating to the authority that the sponsoring university may choose to insert and that are not inconsistent with state law, the articles of incorporation of an authority shall include the following provisions:
(1) The name of the authority, which shall include the word Authority and shall include words identifying the sponsoring university.
(2) The name of the sponsoring university and the date on which the governing body of the sponsoring university adopted a resolution authorizing the organization of the authority.
(3) The name and address of the registered agent of the authority.
(4) A statement that the authority is organized pursuant to the provisions of this chapter.
(5) A statement that the authority shall exercise all powers provided by law, unless the exercise by the authority of any of its powers hereunder is limited in any way, in which case a statement of such limitations on the powers of the authority shall be included.
(6) A statement that the duration of existence of the authority shall be perpetual, unless the sponsoring university authorizes a shorter duration.
(7) The number of directors, which shall be an odd number not less than three, and the duration of their respective terms of office, which shall not be in excess of six years.
(8) Provisions for appointing or removing directors of the authority, subject to the provisions of Section 16-17A-6; provided, however, that if no such provisions are specified in the articles of incorporation, all directors of an authority shall be appointed or elected by the sponsoring university and shall be subject to removal by the sponsoring university at any time, with or without cause.
(b) The articles of incorporation shall be executed as provided in the resolution authorizing incorporation of the authority.
(c) When the articles of incorporation are filed for record with the Secretary of State, there shall be attached to it all of the following:
(1) A certified copy of the resolution of the sponsoring university authorizing the incorporation of the authority.
(2) A certificate of the Secretary of State confirming that the name proposed for the authority is not identical to that of any other corporation organized under state law or so nearly similar thereto as to lead to confusion and uncertainty.
(d) Upon the filing for record of the articles of incorporation and the documents required by subsection (c) with the Secretary of State, the authority shall come into existence and shall constitute a public corporation under the name set forth in its articles of incorporation. The Secretary of State shall issue a certificate of incorporation to the authority and shall record the articles of incorporation in an appropriate book in his or her office.
(Act 2016-201, §4.)
2023 Code of Alabama › Title 16 - Education. › Chapter 17A - University Authority Act of 2016. › Section 16-17A-5 - Articles of Incorporation - Amendments.

Section 16-17A-5
Articles of incorporation - Amendments.
(a) The articles of incorporation of any authority may be amended by filing articles of amendment with the Secretary of State, but only with the approval of both the board of the authority and the sponsoring university, in the manner provided in this section.
(b) In order to amend the articles of incorporation, the following steps shall be completed:
(1) The board of the authority shall first adopt a resolution proposing articles of amendment.
(2) After the adoption by the board of a resolution approving articles of amendment, the authority shall file with the sponsoring university a written request for adoption of a resolution approving the proposed amendment.
(3) As promptly as may be practicable after the receipt of the request from the authority, the sponsoring university shall review the application and shall adopt a resolution either approving or denying the articles of amendment as proposed by the authority.
(c) Within 30 days following the approval of the articles of amendment by the sponsoring university, the president or vice president of the authority shall sign and file for record in the office of the Secretary of State the following items:
(1) The original articles of amendment.
(2) A certified copy of each resolution approving the articles of amendment.
(d) Upon the filing for record of the documents required by subsection (c), the articles of amendment shall become effective. The Secretary of State shall thereupon record the articles of amendment in an appropriate book in his or her office.
(e) The articles of amendment of an authority may amend and restate the articles of incorporation of an authority if approved in accordance with this section.
(f) Notwithstanding the provisions of this section, the name and address of the registered agent of an authority may be changed by the authority without following the procedure set forth in this section. An authority may use any appropriate form promulgated by the Secretary of State for this purpose.
(Act 2016-201, §5.)
2023 Code of Alabama › Title 16 - Education. › Chapter 17A - University Authority Act of 2016. › Section 16-17A-7 - Officers.

Section 16-17A-7
Officers.
(a) The officers of an authority shall consist of a president, a vice president, a secretary, a treasurer, and other officers and assistant officers as the board deems necessary or desirable. The president and the vice president of the authority shall be a member of the board. The secretary, the treasurer, and any other officers of the authority need not be a director.
(b) The president and the vice president of the authority shall be elected by the board as provided in the bylaws of the authority, and the secretary, the treasurer, and the other officers of the authority shall be elected by or pursuant to the authorization of the board for such terms as it deems advisable.
(c) The duties of the president, vice president, secretary, and treasurer shall be those as are customarily performed by such officers in nonprofit corporations. The duties of any other officers of the authority shall be prescribed by the board or pursuant to its authorization.
(Act 2016-201, §7.)
2023 Code of Alabama › Title 16 - Education. › Chapter 17A - University Authority Act of 2016. › Section 16-17A-9 - Eminent Domain.

Section 16-17A-9
Eminent domain.
An authority shall have, in addition to all other powers granted by this chapter, the same power of eminent domain as is vested by law in the sponsoring university under Section 18-1A-295.
(Act 2016-201, §9.)
2023 Code of Alabama › Title 16 - Education. › Chapter 17A - University Authority Act of 2016. › Section 16-17A-10 - Indebtedness.

Section 16-17A-10
Indebtedness.
(a) An authority from time to time may borrow money or incur indebtedness and issue bonds, notes, or other evidence of indebtedness in such principal amounts as the board determines by resolution to be necessary, desirable, and in the best interests of the authority in order to provide funds to carry out its corporate powers. Indebtedness may be incurred for any lawful purpose of the authority, including, without limitation, any of the following:
(1) Indebtedness to finance the acquisition or construction of health care facilities.
(2) Indebtedness to provide working capital or funds for operating expenses.
(3) Indebtedness to refund, extend, refinance, or restructure any indebtedness of the authority or any indebtedness assumed or guaranteed by the authority.
(b) Indebtedness may be any of the following or any combination thereof:
(1) A general obligation of the authority to the payment of which its full faith and credit is pledged.
(2) Payable solely out of specific revenues of the authority or any of its facilities.
(3) Secured by a pledge of any tax levied by a governmental entity that has been made available to an authority or any of its facilities.
(c) Indebtedness may provide for any of the following or any combination thereof:
(1) Provide for no interest.
(2) Provide for current interest.
(3) Provide for capitalized interest.
(4) Provide for accretion or other increase in principal amount in lieu of interest.
(d) Any resolution authorizing the issuance of any indebtedness shall create a contract with the holders of the indebtedness issued thereby.
(e) Evidence of indebtedness shall be executed and delivered as provided in the resolution of the board authorizing the same.
(f) Indebtedness may be sold at public or private sale or in exchange for indebtedness of the authority at such price or on such terms as the board shall determine.
(g) All indebtedness of an authority shall be subject to redemption or prepayment on such terms as the board shall determine.
(h) No indebtedness of an authority shall mature more than 40 years from the date of issuance, without regard to whether the indebtedness is refunding, extending, refinancing, or restructuring existing indebtedness.
(i) The authority may, subject to security documents or other agreements with holders as may then exist, purchase its indebtedness in the open market, through intermediaries or directly from the holder of an obligation, with any funds available therefor. Any obligation so purchased may be cancelled by the authority or may be resold, as authorized by the board.
(Act 2016-201, §10.)
2023 Code of Alabama › Title 16 - Education. › Chapter 17A - University Authority Act of 2016. › Section 16-17A-11 - Pledge of Revenues; Security Documents.

Section 16-17A-11
Pledge of revenues; security documents.
(a) Any pledge of any revenues of an authority or university affiliate, including, without limitation, tax revenues made available to an authority, shall be valid and binding from the time it is made, and the revenues or taxes so pledged and thereafter received by the authority shall immediately become subject to the lien of that pledge without any physical delivery thereof or further act. The lien of that pledge shall be valid and binding against all parties having claims of any kind against the authority, irrespective of whether the parties have actual notice thereof. The resolution or security document establishing a pledge of revenues may provide that the lien established extends, on a pari passu basis, to any additional indebtedness issued as a parity obligation in accordance with the terms of the financing document.
(b) Any security document relating to any real property, personal property, fixtures, or other tangible property of an authority may be filed in the office of the judge of probate of the county in which the property to be secured is located, and the lien of the security document shall be valid and binding against all parties having claims of any kind against the authority, irrespective of whether any person has actual notice thereof, from the time the security document is so filed, with respect to all property subject thereto, including, without limitation, after-acquired property.
(Act 2016-201, §11.)
2023 Code of Alabama › Title 16 - Education. › Chapter 17A - University Authority Act of 2016. › Section 16-17A-12 - Obligations of Authority.

Section 16-17A-12
Obligations of authority.
(a) All agreements and covenants undertaken, and all indebtedness issued, by an authority shall be solely and exclusively an obligation of the authority and, except as otherwise provided in a written agreement in accordance with Section 16-17A-17, shall not create an obligation or debt of the state, any university, or any other governmental entity or public corporation within the meaning of any constitutional or statutory provision.
(b) Neither the directors nor any officer of an authority executing indebtedness issued pursuant to this chapter shall be personally liable for such indebtedness by reason of the execution or issuance thereof.
(c) The state and the sponsoring university do hereby pledge to and agree with the holders of any indebtedness issued under this chapter that neither the state nor the sponsoring university will limit or alter the rights hereby vested in the authority to fulfill the terms of any indebtedness or related security documents made with the holders thereof or in any way impair the rights and remedies of the holders until such indebtedness, together with the interest thereon, and all costs and expenses in connection with any action or proceeding by or on behalf of the holders, are fully met and discharged. An authority is authorized to include this pledge and agreement of this state or sponsoring university in any agreement with the holders of its indebtedness.
(Act 2016-201, §2.)
2023 Code of Alabama › Title 16 - Education. › Chapter 17A - University Authority Act of 2016. › Section 16-17A-13 - Investment in Indebtedness.

Section 16-17A-13
Investment in indebtedness.
Indebtedness issued under the provisions of this chapter is hereby made a legal investment for savings banks and insurance companies organized under state law and for trustees, executors, administrators, guardians, persons, or organizations acting in a fiduciary capacity, unless otherwise directed by a court having jurisdiction or by a document providing fiduciary authority. Any governmental entity or public corporation is authorized, in its discretion, to invest any available funds in securities of the authority.
(Act 2016-201, §13.)
2023 Code of Alabama › Title 16 - Education. › Chapter 17A - University Authority Act of 2016. › Section 16-17A-14 - Default in Payments.

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