(a) All contracts of the Alabama State Docks Department, now known as the Alabama State Port Authority, shall be in writing to precisely the same extent, and shall be approved and executed in precisely the same manner, as such contracts are on August 1, 2000, except that, where approval of the Governor has been required, approval of the board shall henceforth be required instead.
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Terms Used In Alabama Code 33-1-39

  • Contract: A legal written agreement that becomes binding when signed.
  • following: means next after. See Alabama Code 1-1-1
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
  • writing: includes typewriting and printing on paper. See Alabama Code 1-1-1
(b)

(1) Notwithstanding any other provision of law, the terms of any contract or agreement entered into with a customer of the authority in the course of the authority’s business, whether before or after April 8, 2021, and any report or other record, that would disclose customer-specific information with respect to cargo volume, shipping prices, or other information that would put the authority or any of its customers at a competitive disadvantage, shall be exempt from the requirements of the laws of the state restricting confidentiality of documents or records, including, but not limited to, any open records or similar law.
(2) The exemption in this subsection shall not apply to any of the following:

a. The existence of any contract or agreement exempted under subdivision (1).
b. The terms of any financing instrument entered into by the authority, as borrower or guarantor.
c. The base, fixed rents due under any lease of real property by or from the authority.
(3) Upon request, the authority shall furnish a copy of an contract or agreement exempted under subdivision (1), but shall redact the commercial terms and other portions exempted under subdivision (1).
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