reglab/statecodes huggingface dataset:
2023 Code of Alabama › Title 24 - Housing. › Chapter 1 - Housing Authorities. › Article 4 - Regional and Consolidated Housing Authorities. › Section 24-1-109 - Rights, Powers, etc., of Authority and Commissioners Generally.

Section 24-1-109
Rights, powers, etc., of authority and commissioners generally.
Except as otherwise provided in this article, a regional housing authority and the commissioners thereof shall, within the area of operation of such regional housing authority, have the same functions, rights, powers, duties, privileges, immunities, and limitations provided for housing authorities created for counties and the commissioners of such housing authorities, and all the provisions of law applicable to housing authorities created for counties and the commissioners of such authorities shall be applicable to regional housing authorities and the commissioners thereof; provided, that a regional housing authority or a county housing authority shall not be subject to the limitations provided in Section 24-1-6 with respect to housing projects for persons of low income in rural areas.
(Acts 1943, No. 541, p. 512, §7.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 1 - Housing Authorities. › Article 4 - Regional and Consolidated Housing Authorities. › Section 24-1-111 - Operation of Housing Authorities in Municipality Outside Area of Operation.

Section 24-1-111
Operation of housing authorities in municipality outside area of operation.
In addition to its other powers, any housing authority may exercise any or all of its powers within the territorial boundaries of any municipality not included in the area of operation of such housing authority, for the purpose of planning, undertaking, financing, constructing, and operating a housing project or projects within such municipality; provided, that a resolution shall have been adopted by the governing body of such municipality in which the authority is to exercise its powers and by any housing authority previously established by such municipality and authorized to exercise its powers therein declaring that there is a need for the aforesaid housing authority to exercise its powers within such municipality.
(Acts 1943, No. 541, p. 512, §9.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 1 - Housing Authorities. › Article 4 - Regional and Consolidated Housing Authorities. › Section 24-1-112 - Procedure for Adoption of Resolution Authorizing Operation of Housing Authority in Municipality.

Section 24-1-112
Procedure for adoption of resolution authorizing operation of housing authority in municipality.
No governing body of a municipality shall adopt a resolution as provided in Sections 24-1-103 or 24-1-111 declaring that there is a need for a housing authority, other than a housing authority established by such municipality, to exercise its powers within such municipality, unless a public hearing has first been held by such governing body and unless such governing body shall have found, in substantially the following terms: That unsanitary or unsafe inhabited dwelling accommodations exist in such municipality or that there is a shortage of safe or sanitary dwelling accommodations in such municipality available to persons of low income at rentals they can afford and that these conditions can be best remedied through the exercise of the aforesaid housing authority's powers within the territorial boundaries of such municipality; provided, that such findings shall not have the effect of thereafter preventing such municipality from establishing a housing authority or joining in the creation of a consolidated housing authority or the increase of the area of operation of a consolidated housing authority. The clerk, or the officer with similar duties, of the municipality shall give notice of the public hearing, and such hearing shall be held in the manner provided in Section 24-1-23 for a public hearing by a council to determine the need for a housing authority in the municipality. During the time that, pursuant to these findings, a housing authority has outstanding, or is under contract to issue, any evidences of indebtedness for a project within the municipality, no other housing authority may undertake a project within such municipality without the consent of said housing authority which has such outstanding indebtedness or obligation.
(Acts 1943, No. 541, p. 512, §10.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 1 - Housing Authorities. › Article 4 - Regional and Consolidated Housing Authorities. › Section 24-1-113 - Agreements to Secure Federal Contributions and Loans.

Section 24-1-113
Agreements to secure federal contributions and loans.
In any contract or amendatory or superseding contract for a loan and annual contributions heretofore or hereafter entered into between a housing authority and the federal government with respect to any housing project undertaken by said housing authority, any such housing authority is authorized to make such covenants, including covenants with holders of obligations of said authority issued for purposes of the project involved, and to confer upon the federal government such rights and remedies as said housing authority deems necessary to assure the fulfillment of the purposes for which the housing project was undertaken. In any such contract, the housing authority may, notwithstanding any other provisions of law, agree to sell and convey the project, including all lands appertaining thereto, to which such contract relates to the federal government upon the occurrence of such conditions or upon such defaults on obligations for which any of the annual contributions provided in said contract are pledged, as may be prescribed in such contract, and at a price, which may include the assumption by the federal government of the payment, when due, of the principal of and interest on outstanding obligations of the housing authority issued for purposes of the housing project involved, determined as prescribed in such contract and upon such other terms and conditions as are therein provided. Any such housing authority is hereby authorized to enter into such supplementary contracts and to execute such conveyances as may be necessary to carry out the provisions of this section. Notwithstanding any other provisions of law, any contracts or supplementary contracts or conveyances made or executed pursuant to the provisions of this section shall not be or constitute a mortgage within the meaning or for the purposes of any of the laws of this state.
(Acts 1943, No. 541, p. 512, §12.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 1 - Housing Authorities. › Article 4 - Regional and Consolidated Housing Authorities. › Section 24-1-114 - Bonds and Other Obligations of Authorities Legal Investments.

Section 24-1-114
Bonds and other obligations of authorities legal investments.
The bonds and other obligations issued by any housing authority pursuant to this article or this chapter shall be security for public deposits and legal investments to the same extent and for the same persons, institutions, associations, corporations, public and private bodies, including all public bodies except counties, and officers as are bonds or other obligations issued pursuant to this chapter.
(Acts 1943, No. 541, p. 512, §13.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 1 - Housing Authorities. › Article 4 - Regional and Consolidated Housing Authorities. › Section 24-1-115 - Assistance and Cooperation by Municipalities, Counties, Etc.

Section 24-1-115
Assistance and cooperation by municipalities, counties, etc.
Any municipality, county, or other public body shall have the same rights and powers to aid and cooperate in the development or administration of any housing project pursuant to this article or this chapter as such public body has under any provision of law relating to its aiding or cooperating in the development or administration of housing projects by a housing authority organized pursuant to Article 2 of this chapter or other laws of this state.
(Acts 1943, No. 541, p. 512, §14.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 1 - Housing Authorities. › Article 4 - Regional and Consolidated Housing Authorities. › Section 24-1-116 - Cooperation of Authorities.

Section 24-1-116
Cooperation of authorities.
Any two or more authorities may join or cooperate with one another in the exercise, either jointly or otherwise, of any or all of their powers for the purpose of financing (including the issuance of bonds, notes, or other obligations and giving security therefor), planning, undertaking, owning, constructing, operating, or contracting with respect to a housing project or projects located within the boundaries of any one or more of said authorities. For such purpose an authority may by resolution prescribe and authorize any other housing authority or authorities so joining or cooperating with it to act on its behalf with respect to any or all of such powers. Any authorities joining or cooperating with one another may by resolutions appoint from among the commissioners of such authorities an executive committee with full power to act on behalf of such authorities with respect to any or all of their powers, as prescribed by resolutions of such authorities.
(Acts 1943, No. 541, p. 512, §15.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 1 - Housing Authorities. › Article 4 - Regional and Consolidated Housing Authorities. › Section 24-1-117 - Powers Conferred by Article Supplemental.

Section 24-1-117
Powers conferred by article supplemental.
The powers conferred by this article shall be in addition and supplemental to the powers conferred by any other law, and nothing contained in this article shall be construed as limiting any other powers of a housing authority.
(Acts 1943, No. 541, p. 512, §18.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 1 - Housing Authorities. › Article 5 - Cooperation of Cities, Counties, etc., With Housing Authorities. › Section 24-1-130 - Legislative Findings and Declaration of Necessity.

Section 24-1-130
Legislative findings and declaration of necessity.
It is hereby declared that unsanitary or unsafe dwelling and public school accommodations exist in various cities of the state and in the area surrounding such cities; that consequently persons of low income are forced to reside in and use such dwelling and public school accommodations; that these conditions cause an increase in and spread of disease and crime and constitute a menace to the health, safety, morals, and welfare of the citizens of the state and impair economic values; that the clearance, replanning, and reconstruction of the areas in which unsanitary or unsafe housing conditions exist and the provision of safe and sanitary dwelling and public school accommodations at such rentals that persons who now live in unsafe or unsanitary or congested dwelling accommodations or in overcrowded and congested dwelling accommodations can afford to live in safe or sanitary or uncongested dwelling accommodations, are public uses and purposes for which private property may be acquired; and that it is in the public interest that work on such projects be instituted as soon as possible in order to relieve unemployment which constitutes an emergency. The necessity in the public interest for this article is hereby declared as a matter of legislative determination.
(Acts 1935, No. 41, p. 85; Code 1940, T. 25, §1.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 1 - Housing Authorities. › Article 5 - Cooperation of Cities, Counties, etc., With Housing Authorities. › Section 24-1-131 - Definitions.

Section 24-1-131
Definitions.
The following terms whenever used or referred to in this article, shall have the following respective meanings, unless a different meaning clearly appears from the context:
(1) HOUSING AUTHORITY. Any housing authority organized pursuant to this title.
(2) CITY. Any city or incorporated town in the State of Alabama.
(3) HOUSING PROJECT. Any undertaking to demolish, clear, remove, alter, or repair unsafe or unsanitary housing or to provide dwelling or public school accommodations for persons who live in or use unsafe, unsanitary, or congested dwelling or public school accommodations. Such term may also include such recreational or social assemblies for educational, health, or welfare purposes and such necessary utilities as are designed primarily for the benefit and use of the occupants of such dwelling accommodations.
(Acts 1935, No. 41, p. 85; Code 1940, T. 25, §2.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 1 - Housing Authorities. › Article 5 - Cooperation of Cities, Counties, etc., With Housing Authorities. › Section 24-1-132 - Powers of Municipalities, Counties, Public Bodies, etc., to Aid Housing Authorities.

Section 24-1-132
Powers of municipalities, counties, public bodies, etc., to aid housing authorities.
(a) For the purpose of aiding and cooperating in the planning, undertaking, construction, or operation by housing authorities of housing projects located within the area in which it is authorized to act, any city, county, municipal corporation, district, or other subdivision or public body or agency of the state may, upon such terms, with or without consideration, as it may determine:
(1) Dedicate, release, sell, convey, or lease any of its interest in any property or grant easements, licenses, or any other rights or privileges therein to a housing authority or the United States of America or any agency thereof;
(2) Cause parks, playgrounds, recreational, community, educational, water, sewer, drainage facilities, or any other works which it is otherwise empowered to undertake to be furnished adjacent to or in connection with housing projects;
(3) Furnish, dedicate, close, pave, install, grade, regrade, plan, or replan streets, roads, roadways, alleys, sidewalks, or other places which it is otherwise empowered to undertake;
(4) Plan or replan, zone or rezone;
(5) Cause services to be furnished to the housing authority of the character which it is otherwise empowered to furnish;
(6) Enter into agreements with respect to the exercise by it of its powers relating to the repair, elimination, or closing of unsafe, unsanitary, or unfit dwellings;
(7) Do any and all things necessary or convenient to aid and cooperate in its planning, undertaking, construction, or operation of such housing projects;
(8) Incur the entire expense of any public improvements made by it in exercising the powers granted in this article; and
(9) Enter into agreements, which may extend over any period, notwithstanding any provision or rule of law to the contrary, with a housing authority respecting action to be taken pursuant to any of the powers granted by this article.
(b) Any law or statute to the contrary notwithstanding, any sale, conveyance, lease, or agreement provided for in this section may be made by a city, county, municipal corporation, district, or other subdivision or public body or agency of the state without appraisal, public notice, advertisement, or public bidding.
(Acts 1935, No. 41, p. 85; Acts 1939, No. 616, p. 984, §2; Code 1940, T. 25, §3.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 1 - Housing Authorities. › Article 5 - Cooperation of Cities, Counties, etc., With Housing Authorities. › Section 24-1-133 - Resolution Authorizing Exercise of Powers Granted.

Section 24-1-133
Resolution authorizing exercise of powers granted.
The exercise by any city, county, municipal corporation, district, or other subdivision or public body or agency of the state of the powers granted in this article may be authorized by resolution of its governing body adopted by a majority of the members of such governing body present at a meeting of such governing body, which resolution may be adopted at the meeting at which such resolution is introduced. Such a resolution or resolutions shall take effect immediately and need not be laid over or published or posted.
(Acts 1939, No. 616, p. 984, §4; Code 1940, T. 25, §3(1).)
2023 Code of Alabama › Title 24 - Housing. › Chapter 1 - Housing Authorities. › Article 5 - Cooperation of Cities, Counties, etc., With Housing Authorities. › Section 24-1-134 - City or Town May Lend or Donate Money to Housing Authority; Reimbursement.

Section 24-1-134
City or town may lend or donate money to housing authority; reimbursement.
Any city or town creating a housing authority shall have the power from time to time to lend or donate money to such authority or to agree to take such action. A housing authority, when it has money available therefor, shall make reimbursements for all such loans made to it.
(Acts 1939, No. 617, p. 986, §1; Code 1940, T. 25, §4(1).)
2023 Code of Alabama › Title 24 - Housing. › Chapter 1A - Alabama Housing Finance Authority. › Article 1 - Housing Finance Authority. › Section 24-1A-1 - Legislative Findings and Declaration of Purpose of Article.

Section 24-1A-1
Legislative findings and declaration of purpose of chapter.
(a) It is hereby found and declared that from time to time there has existed and at the present time there exists an inadequate supply of funds at interest rates sufficiently low to enable the financing of safe and sanitary multi-family dwelling units for citizens of this state and single family dwelling units for citizens of this state with low and moderate income; that the inability to finance such single and multi-family dwelling units results in an inability of builders to construct such housing causing unemployment or underemployment in the housing construction and related businesses and causes a lack of safe and sanitary housing to be available to the citizens of this state; that such unemployment or underemployment in the housing construction and related businesses and an inadequate supply of safe and sanitary housing wastes human resources, increases the public assistance burden of the state, impairs the security of family life, impedes the economic and physical development of the state, adversely affects the welfare and prosperity of all of the people of the state and accordingly creates and fosters conditions adverse to the general health and welfare of the citizens of the state, that the making available in the manner provided in this chapter of a more adequate supply of funds at interest rates sufficiently low to enable the financing of safe and sanitary multi-family dwelling units for citizens of this state and single family dwelling units for citizens of low and moderate income will result in the alleviation or reduction of the adverse consequences which have resulted and may result from continued unemployment and underemployment in the housing construction and related businesses and the inadequate supply of such housing for such persons.
(b) It is hereby further found and determined that the conditions adverse to the general health and welfare of the citizens of the state as noted in subsection (a) of this section can best be solved by a cooperative effort as provided in this chapter between the authority acting on behalf of the state and those engaged in the business of making mortgage loans and such is the purpose of this chapter and it is not the intent of the Legislature that the authority have the power to make direct loans to individuals or to acquire or construct housing units for lease or sale or that the authority have urban development or slum clearance functions, although its functions under this chapter are expected to be complementary to and supportive of those functions.
(Acts 1980, No. 80-585, p. 899, §1; Acts 1987, No. 87-556, p. 862, §1.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 1A - Alabama Housing Finance Authority. › Article 1 - Housing Finance Authority. › Section 24-1A-3 - Incorporation of Authority Authorized; Application; Filing; Fees.

Section 24-1A-3
Incorporation of authority authorized; application; filing; fees.
(a) The nine persons initially designated as members of the authority may become a corporation with the power and authority provided in this chapter by proceeding according to the provisions of this chapter. To become a corporation, the persons so designated shall present to the Secretary of State an application signed by them which shall state:
(1) That the applicants propose to incorporate the authority pursuant to this chapter;
(2) The name and official residence of each of the applicants;
(3) The date on which each applicant was appointed as a member by the Governor and the expiration date of the term for which he was appointed;
(4) The name of the proposed corporation, which shall be "Alabama Housing Finance Authority";
(5) The location of the principal office of the proposed corporation, which shall be in the City of Montgomery; and
(6) Any other matter relating to the authority which the applicants may choose to insert and which is not inconsistent with this chapter or the laws of the state.
(b) 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 the Secretary of State finds that it substantially complies with the requirements of this section, he shall receive, file and record it in an appropriate book of records in his office.
(c) When the application has been made, filed and recorded as provided in subsection (b) of this section, the applicants shall constitute a corporation under the name stated in the application, and the Secretary of State shall make and issue to the applicants a certificate of incorporation pursuant to this chapter, 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 work done in connection with the incorporation or dissolution of the authority.
(Acts 1980, No. 80-585, p. 899, §4.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 1A - Alabama Housing Finance Authority. › Article 1 - Housing Finance Authority. › Section 24-1A-8 - Refunding Bonds.

Section 24-1A-8
Refunding bonds.
(a) Any bonds issued by the authority may from time to time be refunded by the issuance, by sale or exchange, of refunding bonds payable from the same or different sources for the purpose of paying:
(1) All or any part of the principal of the bonds to be refunded;
(2) Any redemption premium required to be paid as a condition to the redemption prior to maturity of any such bonds that are to be so redeemed in connection with such refunding;
(3) Any accrued and unpaid interest on the bonds to be refunded;
(4) Any interest to accrue on each bond to be refunded to the date on which it is to be paid, whether at maturity or by redemption prior to maturity; and
(5) The expenses incurred in connection with the refunding;
provided, however, that unless duly called for redemption pursuant to provisions contained therein, the holders of any such bonds then outstanding and proposed to be refunded shall not be compelled without their consent to surrender their outstanding bonds for such refunding.
(b) Any refunding bonds may be sold by the authority at public or private sale at such price or prices as may be determined by its board of directors to be most advantageous, or may be exchanged for the bonds to be refunded. Any such refunding bonds may be executed and delivered by the authority at any time and, from time to time, shall be in such form and denomination or denominations and of such tenor and maturity or maturities, shall contain such provisions not inconsistent with the provisions of this chapter, and shall bear such rate or rates of interest, payable at such place or places, either within or without the state, and evidenced in such manner, as may be provided by resolution of the board of directors.
(c) Any refunding bonds issued by the authority shall be issued and may be secured in accordance with the provisions of Section 24-1A-6.
(Acts 1980, No. 80-585, p. 899, §10.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 1A - Alabama Housing Finance Authority. › Article 1 - Housing Finance Authority. › Section 24-1A-10 - Bonds Eligible for Investment by State and Local Governments and by Executors, Trustees, Etc.

Section 24-1A-10
Bonds eligible for investment by state and local governments and by executors, trustees, etc.
The State Treasurer may invest any idle or surplus moneys of the state in bonds of the authority. The governing body of any county or municipality is authorized in its discretion to invest any idle or surplus money held in its treasury in bonds of the authority. Such bonds shall be legal investments for executors, administrators, trustees and other fiduciaries, unless otherwise directed by the court having jurisdiction of the fiduciary relation or by the document that is the source of the fiduciary's authority, and for savings banks and insurance companies organized under the laws of the state.
(Acts 1980, No. 80-585, p. 899, §12.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 1A - Alabama Housing Finance Authority. › Article 1 - Housing Finance Authority. › Section 24-1A-11 - Applicability of Certain Provisions of Uniform Commercial Code.

Section 24-1A-11
Applicability of certain provisions of Uniform Commercial Code.
The provisions of subsection (d)(14) of Section 7-9A-109, to the contrary notwithstanding, the provisions of Article 9A of Title 7 shall apply with full force and effect to any security interest (whether denominated a pledge, assignment or otherwise) in any tangible or intangible personal property of the authority created or made in connection with any issue of bonds of the authority.
(Acts 1980, No. 80-585, p. 899, § 13; Act 2001-481, p. 647, § 2.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 1A - Alabama Housing Finance Authority. › Article 1 - Housing Finance Authority. › Section 24-1A-12 - Exemption From Taxation.

Section 24-1A-12
Exemption from taxation.
The property and income of the authority, all bonds issued by the authority, the interest payable on and the income derived from such bonds, conveyances by or to the authority and leases, mortgages and deeds of trust or trust indentures by or to the authority shall be exempt from all taxation in the state. The authority shall be exempt from all taxes levied by any county, municipality or other political subdivision of the state, including, but without limitation, license and excise taxes imposed in respect of the privilege of engaging in any of the activities in which the authority may engage. Nothing in this section shall be construed to exempt any private person, firm or corporation from payment of any ad valorem, mortgage or deed taxes or recording fees notwithstanding the fact that the authority shall have acquired an interest in the property or instrument subject to such taxes or fees.
(Acts 1980, No. 80-585, p. 899, §14.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 1A - Alabama Housing Finance Authority. › Article 1 - Housing Finance Authority. › Section 24-1A-13 - Liability of State.

Section 24-1A-13
Liability of state.
The state shall not in any event be liable for the payment of the principal of, or interest on, any bonds of the authority or for the performance of any pledge, mortgage, obligation or agreement of any kind whatsoever which may be undertaken by the authority, and none of the bonds of the authority or any of its agreements or obligations shall be construed to constitute an indebtedness of the state within the meaning of any constitutional or statutory provision whatsoever.
(Acts 1980, No. 80-585, p. 899, §15.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 1A - Alabama Housing Finance Authority. › Article 1 - Housing Finance Authority. › Section 24-1A-14 - Exemption From Usury and Interest Laws.

Section 24-1A-14
Exemption from usury and interest laws.
All securities issued by the authority shall be exempt from the laws of the state governing usury or prescribing or limiting interest rates, including, but without limitation, the provisions of Chapter 8 of Title 8.
(Acts 1980, No. 80-585, p. 899, §16.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 1A - Alabama Housing Finance Authority. › Article 1 - Housing Finance Authority. › Section 24-1A-15 - Freedom of Authority From State Supervision and Control; Authority Deemed Independent Instrumentality.

Section 24-1A-15
Freedom of authority from state supervision and control; authority deemed independent instrumentality.
This chapter is intended to aid the state through the furtherance of the purposes of the chapter by providing an appropriate and independent instrumentality of the state with full and adequate powers to fulfill its functions. Except as expressly provided in this chapter, no proceeding, notice or approval shall be required for the incorporation of the authority, the purchase of any mortgage loans or the making of any loan to a mortgage lender, the acquisition of any mortgage, the acquisition of, or any dealing with respect to, any mortgaged property, the issuance of any bonds, the execution of any mortgage and deed of trust or trust indenture or the exercise of any other of its powers by the authority.
(Acts 1980, No. 80-585, p. 899, §17.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 1A - Alabama Housing Finance Authority. › Article 1 - Housing Finance Authority. › Section 24-1A-16 - Earnings of Authority; Nonprofit; Excess Paid to State.

Section 24-1A-16
Earnings of authority; nonprofit; excess paid to state.
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, 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 and other obligations of the authority, then any net earnings of the authority thereafter accruing shall be paid to the state.
(Acts 1980, No. 80-585, p. 899, §18.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 1A - Alabama Housing Finance Authority. › Article 1 - Housing Finance Authority. › Section 24-1A-17 - Dissolution of Authority; Vesting Title to Property in State.

Section 24-1A-17
Dissolution of authority; vesting title to property in state.
At any time when an authority has no bonds or other obligations outstanding, its board of directors may by the unanimous vote of all directors present adopt a resolution declaring that the authority shall be dissolved. Upon filing for record of a certified copy of the said resolution in the office of the Secretary of State, the authority shall thereupon stand dissolved and in the event it shall own any property at the time of its dissolution, the title of all its properties shall thereupon pass to the state.
(Acts 1980, No. 80-585, p. 899, §19.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 1A - Alabama Housing Finance Authority. › Article 1 - Housing Finance Authority. › Section 24-1A-18 - Utilization of Services Provided by Department of Finance.

Section 24-1A-18
Utilization of services provided by Department of Finance.
The authority shall utilize all administrative services which may be provided by the Department of Finance.
(Acts 1980, No. 80-585, p. 899, §20.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 1A - Alabama Housing Finance Authority. › Article 1 - Housing Finance Authority. › Section 24-1A-19 - Conflict of Interest; Rules Governing.

Section 24-1A-19
Conflict of interest; rules governing.
The entire board of directors, the officers and employees of the authority are hereby subject to the provisions of Chapter 25 of Title 36 and to the rules and promulgations of the State Ethics Commission.
(Acts 1980, No. 80-585, P. 899, §21.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 1A - Alabama Housing Finance Authority. › Article 1 - Housing Finance Authority. › Section 24-1A-20 - Chapter Not to Aid in Refinancing.

Section 24-1A-20
Chapter not to aid in refinancing.
This chapter shall not be used to assist any present owner for refinancing purposes.
(Acts 1980, No. 80-585, p. 899, §22.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 1A - Alabama Housing Finance Authority. › Article 1 - Housing Finance Authority. › Section 24-1A-21 - Liberal Construction.

Section 24-1A-21
Liberal construction.
This chapter being remedial in nature, the provisions of this chapter shall be liberally construed to effect its purpose.
(Acts 1980, No. 80-585, p. 899, §23.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 1A - Alabama Housing Finance Authority. › Article 2 - Home Buyers Initiative Act. › Section 24-1A-40 - Short Title.

Section 24-1A-40
Short title.
This article shall be known and may be cited as "The Alabama Home Buyers Initiative Act."
(Act 2009-284, p. 487, §1.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 1A - Alabama Housing Finance Authority. › Article 2 - Home Buyers Initiative Act. › Section 24-1A-41 - Legislative Findings.

Section 24-1A-41
Legislative findings.
The Legislature finds that the effects of the global and national recession are now affecting Alabama's housing industry and adversely affecting the state's economic development activity. The large number of homes on the market is causing a reduction in housing starts, resulting in fewer construction jobs and lower tax collections from the sale of building materials. In addition, the large number of existing homes on the market is adversely affecting the states economic recovery. The Legislature desires to provide a stimulus to provide a boost to the housing industry and to facilitate economic development and industrial recruitment by creating a guarantee fund that would encourage investments in new thirty-year, fixed-rate conventional mortgage loans through a program administered by the Alabama Housing Finance Authority. The guarantee fund will reduce the investor's potential for losses.
(Act 2009-284, p. 487,§2.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 1A - Alabama Housing Finance Authority. › Article 2 - Home Buyers Initiative Act. › Section 24-1A-41.1 - Legislative Intent.

Section 24-1A-41.1
Legislative intent.
(a) In order to offset the adverse effects of the global and national recession on Alabama's housing industry and its economic development activity and to provide a boost to the state's housing industry and its economic development and industrial recruitment, the Legislature adopted the Alabama Home Buyers Initiative Act, codified as Sections 24-1A-40 to 24-1A-43, inclusive, which established a mortgage guarantee fund to reimburse investors for a portion of any foreclosure losses suffered as a result of purchasing qualified mortgage loans on eligible properties located within the State of Alabama.
(b) Pursuant to the act, six million dollars ($6,000,000) was appropriated and irrevocably deposited in the mortgage guarantee fund. The fund is held by the State Treasurer and administered by the Alabama Housing Finance Authority, a public corporation and instrumentality of the State of Alabama.
(c) It is hereby found and determined that, due to dramatic changes in the mortgage industry during the recent economic crisis, no qualified mortgage loans have been purchased by investors under the act, and no such loans are reasonably expected to be purchased in the future, and as a result, none of the money appropriated by the act and deposited in the mortgage guarantee fund has been deployed for its initial purposes.
(d) Therefore, in accordance with the original intent of Section 24-1A-43, the Legislature intends to make the funds on deposit in the mortgage guarantee fund available for alternative housing programs.
(Act 2014-88, p. 141, §1.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 2 - Redevelopment Projects. › Section 24-2-1 - Legislative Findings and Declaration of Necessity.

Section 24-2-1
Legislative findings and declaration of necessity.
(a) It is hereby found and declared:
(1) That there exist in many communities within this state blighted areas, as defined herein, or areas in the process of becoming blighted;
(2) That such areas impair economic values and tax revenues, cause an increase in and spread of disease and crime and constitute a menace to the health, safety, morals, and welfare of the residents of the state, and that these conditions necessitate excessive and disproportionate expenditures of public funds for crime prevention and punishment, public health and safety, fire and accident protection, and other public services and facilities;
(3) That the clearance, replanning, and preparation for rebuilding of these areas and the prevention or the reduction of blight and its causes are public uses and purposes for which public money may be spent and private property acquired and are governmental functions of state concern;
(4) That redevelopment activities will stimulate residential construction which is closely correlated with general economic activity and that the undertakings authorized by this chapter will aid the production of better housing and more desirable neighborhood and community development at lower costs and will make possible a more stable and larger volume of residential construction, which will assist materially in achieving and maintaining full employment; and
(5) That it is in the public interest that advance preparation for such projects and activities be made now.
(b) The necessity in the public interest for this chapter is hereby declared as a matter of legislative determination.
(Acts 1949, No. 491, p. 713, §1.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 2 - Redevelopment Projects. › Section 24-2-3 - Powers of Housing Authorities or Municipalities - Powers Under Other Housing Laws; Contracts; Issuance of Bonds and Other Obligations; Eminent Domain.

Section 24-2-3
Powers of housing authorities or municipalities - Powers under other housing laws; contracts; issuance of bonds and other obligations; eminent domain.
In undertaking such redevelopment projects a housing authority, or the governing body of any incorporated city or town, shall have all the rights, powers, privileges, and immunities that such authority has under Chapter 1 of this title, and any other provision of law relating to slum clearance and housing projects for persons of low income, including, without limiting the generality of the foregoing, the power to make and execute contracts, to issue bonds and other obligations and give security therefor, to acquire real property by eminent domain or purchase, and to do any and all things necessary to carry out projects in the same manner as though all the provisions of law applicable to slum clearance and housing projects were applicable to redevelopment projects undertaken under this chapter; provided, that nothing contained in Section 24-1-6 shall be construed as limiting the power of an authority or the governing body of any incorporated city or town, in the event of a default by a purchaser or lessee of land in a redevelopment plan, to acquire property and operate it free from the restrictions contained in said section.
(Acts 1949, No. 491, p. 713, §3; Acts 1967, No. 416, p. 1070, §3.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 2 - Redevelopment Projects. › Section 24-2-4 - Approval of Redevelopment Plan by Governing Bodies of Cities, Counties, etc., in Which Project Situated; Assistance of Redevelopment Projects by Cities, Counties, Etc.

Section 24-2-4
Approval of redevelopment plan by governing bodies of cities, counties, etc., in which project situated; assistance of redevelopment projects by cities, counties, etc.
An authority or the governing body of any city or town shall not initiate any redevelopment project under this chapter until the governing body, or agency designated by it or empowered by law to so act of each city, town, or village, hereinafter called "municipalities," in which any of the area to be covered by said project is situated has approved a plan, herein called the "redevelopment plan," which provides an outline for the development or redevelopment of said area and is sufficiently complete:
(1) To indicate its relationship to definite local objectives as to appropriate land uses and improved traffic, public transportation, public utilities, recreational and community facilities, and other public improvements;
(2) To indicate proposed land uses and building requirements in the area; and
(3) To indicate the method for the temporary relocation of persons living in such areas and also the method for providing, unless already available, decent, safe, and sanitary dwellings substantially equal in number to the number of substandard dwellings to be cleared from said area, at rents within the financial reach of the income groups displaced from such substandard dwellings.
Such municipalities are hereby authorized to approve redevelopment plans through their governing body or agency designated by it for that purpose. Any city, municipality, county, or other public body shall have the same rights and powers to cooperate with and assist housing authorities with respect to redevelopment projects that such public bodies have pursuant to Article 2 of Chapter 1 of this title, or any other provision of law for the purpose of assisting the development or administration of slum clearance and housing projects in the same manner as though the provisions of such laws were applicable to redevelopment projects undertaken under this chapter.
(Acts 1949, No. 491, p. 713, §4; Acts 1967, No. 416, p. 1070, §4.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 2 - Redevelopment Projects. › Section 24-2-5 - Advisory Board.

Section 24-2-5
Advisory board.
For the purpose of coordinating its activities and undertakings under this chapter with the needs and undertakings of other local organizations and groups, a housing authority or the governing body of any incorporated city or town may establish an advisory board consisting of the chairman of the authority, who shall be chairman of the advisory board, and of sufficient members to represent so far as practicable: The general public and consumers of housing; general business interests; real estate, building and home financing interests; labor; any official planning body in the locality; and church and welfare groups. The members of the advisory board shall be appointed by the chairman of the authority or, if the board is established by the governing body of any incorporated city or town, then the members of the advisory board shall be appointed by the mayor of such city or town, and, in such event, the mayor shall be the chairman of the advisory board.
(Acts 1949, No. 491, p. 713, §9; Acts 1967, No. 416, p. 1070, §9.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 2 - Redevelopment Projects. › Section 24-2-6 - Land in Project May Be Made Available for Use by Private Enterprise or Public Agencies in Accordance With Redevelopment Plan.

Section 24-2-6
Land in project may be made available for use by private enterprise or public agencies in accordance with redevelopment plan.
(a) The authority or the governing body of any city or town may make land in a redevelopment project available for use by private enterprise or public agencies in accordance with the redevelopment plan. Such land may be made available at its use value, which represents the value, whether expressed in terms of rental or capital price, at which the authority or the governing body of any incorporated city or town determines such land should be made available in order that it may be developed or redeveloped for the purposes specified in such plan.
(b) To assure that land acquired in a redevelopment project is used in accordance with the redevelopment plan, an authority or the governing body of any incorporated city or town, upon the sale or lease of such land, shall obligate purchasers or lessees:
(1) To use the land for the purpose designated in the redevelopment plan;
(2) To begin the building of their improvements within a period of time which the authority fixes as reasonable; and
(3) To comply with such other conditions as are necessary to carry out the purposes of this chapter.
Any such obligations by the purchaser shall be covenants and conditions running with the land where the authority so stipulates.
(Acts 1949, No. 491, p. 713, §5; Acts 1967, No. 416, p. 1070, §5.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 2 - Redevelopment Projects. › Section 24-2-7 - Tax Status of Land Sold or Leased to Private Individuals or Corporations for Redevelopment.

Section 24-2-7
Tax status of land sold or leased to private individuals or corporations for redevelopment.
Any property which the authority or the governing body of any incorporated city or town leases to private individuals or corporations for development under a redevelopment plan shall have the same tax status as if such leased property were owned by such private individuals or corporations.
(Acts 1949, No. 491, p. 713, §6; Acts 1967, No. 416, p. 1070, §6.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 2 - Redevelopment Projects. › Section 24-2-8 - Federal Financial Aid.

Section 24-2-8
Federal financial aid.
An authority or the governing body of any incorporated city or town may borrow money or accept contributions from the federal government to assist in its undertaking redevelopment projects. An authority or the governing body of any incorporated city or town may do any and all things necessary or desirable to secure such financial aid, including obligating itself in any contract with the federal government for annual contributions to convey to the federal government the project to which said contract relates, upon the occurrence of a substantial default thereunder, in the same manner as they may do to secure such aid in connection with slum clearance and housing projects under the provisions of this title.
(Acts 1949, No. 491, p. 713, §7; Acts 1967, No. 416, p. 1070, §7.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 2 - Redevelopment Projects. › Section 24-2-9 - Investment by Public Bodies, etc., in Bonds, etc., Issued by Housing Authorities, Etc.

Section 24-2-9
Investment by public bodies, etc., in bonds, etc., issued by housing authorities, etc.
Bonds or other obligations issued by a housing authority or the governing body of any incorporated city or town, in connection with a redevelopment project pursuant to this chapter, shall be security for public deposits and legal investments to the same extent and for the same persons, institutions, associations, corporations, and other bodies and officers as bonds or other obligations issued pursuant to this title in connection with the development of slum clearance and housing projects.
(Acts 1949, No. 491, p. 713, §8; Acts 1967, No. 416, p. 1070, §8.)
2023 Code of Alabama › Title 24 - Housing. › Chapter 2 - Redevelopment Projects. › Section 24-2-10 - Provisions of Chapter Cumulative; Conflicting Laws.

Section 24-2-10
Provisions of chapter cumulative; conflicting laws.
The provisions of this chapter shall be cumulative and supplemental to the powers conferred by any other law and shall be construed in pari materia with other laws relative to redevelopment plans and redevelopment projects. No laws shall be deemed repealed by this chapter unless in specific conflict herewith.
(Acts 1949, No. 491, p. 713, §10; Acts 1967, No. 416, p. 1070, §10.)