The authority shall have the following powers:

(1) To have succession by its corporate name until dissolved as hereinafter provided;

Terms Used In Alabama Code 16-60-87

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • following: means next after. See Alabama Code 1-1-1
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
(2) To sue and be sued and to prosecute and defend in any court having jurisdiction of the subject matter and of the parties thereto;
(3) To have and to use a corporate seal and to alter the seal at pleasure;
(4) To establish a fiscal year;
(5) To provide for acquiring and improving sites for additional trade schools and junior colleges, constructing, acquiring, reconstructing, improving and altering buildings therefor and purchasing, acquiring and installing the original equipment thereof, and to make capital improvements to existing trade schools and at institutions of higher learning heretofore or hereafter established;
(6) To anticipate by the issuance of its bonds the receipt of the revenues herein appropriated and pledged;
(7) As security for the payment of the principal of and interest on its bonds, to pledge the proceeds of the appropriations and pledges herein provided for; and
(8) To appoint and employ such attorneys and agents as the business of the authority may require.