§ 16-18A-1 Short title
§ 16-18A-2 Definitions
§ 16-18A-3 Creation of authority; members, organization, etc
§ 16-18A-4 Powers and duties
§ 16-18A-5 Revenue bonds – Issuance; negotiable, forms, terms, etc.; refunding bonds; security
§ 16-18A-6 Revenue bonds – Contracts to secure payment
§ 16-18A-7 Revenue bonds – Creation of statutory mortgage lien; recording
§ 16-18A-8 Use of proceeds from sale
§ 16-18A-9 Exemptions from taxation, fees and costs
§ 16-18A-10 Venue and jurisdiction
§ 16-18A-11 Interest of bondholders protected; enforceability
§ 16-18A-12 Moneys considered trust funds
§ 16-18A-13 Title to projects

Terms Used In Alabama Code > Title 16 > Chapter 18A

  • authority: The Private Colleges and Universities Facilities Authority created by this chapter and any successor or successors thereto. See Alabama Code 45-17A-83.04
  • board: The Tuscumbia Utilities Board, created pursuant to the enabling law, and includes its successors and assigns, if any, and any agency or instrumentality that may succeed to its functions. See Alabama Code 45-17A-83
  • BOND FINANCING AGREEMENT: An agreement or other document relating to the sale or issuance of bonds including, but not limited to, a bond purchase agreement, a loan agreement, a refinancing agreement, or documents providing for bonds sold or issued on a competitive sale basis. See Alabama Code 45-17A-84
  • bonds: Bonds, bond anticipation notes, warrants, warrant anticipation notes, or indebtedness issued or entered into on behalf of the county or by the county commission for a term of at least three years or more. See Alabama Code 45-17A-84
  • Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
  • CITY COUNCIL: The governing body of the City of Tuscumbia, Alabama. See Alabama Code 45-17A-83
  • costs: As applied to a project or any portion thereof financed under the provisions of this chapter, all or any part of the cost of construction, acquisition, alteration, enlargement, reconstruction and remodeling of a project including all lands, structures, real or personal property, rights, rights-of-way, franchises, easements, permits, approvals, licenses and certificates and the securing of such permits, approvals, licenses and certificates, and interests acquired or used for or in connection with a project, the cost of demolishing or removing any buildings or structures on land so acquired, including the cost of acquiring any lands to which such buildings or structures may be moved, the cost of all machinery and equipment, financing charges, underwriters' commissions or discounts, interest prior to, during and for a period of six months following estimated completion of such construction and acquisition, provisions for reserves for principal and interest and for extensions, enlargements, additions and improvements, the cost of architectural, engineering, financial and legal services, plans, specifications, studies, surveys, estimates of cost and revenues, administrative expenses, expenses necessary or incident to determining the feasibility or practicability of constructing the project and such other expenses as may be necessary or incident to the construction and acquisition of the project, the financing of such construction and acquisition and the placing of the project in operation. See Alabama Code 45-17A-83.04
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • ENABLING LAW: Act No. See Alabama Code 45-17A-83
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • 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.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • GENERAL OBLIGATION INDEBTEDNESS: A bond financing agreement which, according to its terms, will be repaid from any funds at the disposal of the county commission. See Alabama Code 45-17A-84
  • GENERAL OPERATING EXPENSES: Any expense incurred by a county in the general operation and function of the county. See Alabama Code 45-17A-84
  • INSTITUTION FOR HIGHER EDUCATION: A not-for-profit educational institution which is not owned or controlled by the state or any political subdivision, agency, instrumentality, district or municipality thereof, which is authorized by law to provide a program of education beyond the high school level and which:

    a. See Alabama Code 45-17A-83.04

  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • LIMITED OBLIGATION INDEBTEDNESS: Bonds which, according to their terms, are required to be paid solely from the proceeds of a specific tax, fee, license, charge, or other specific revenue stream. See Alabama Code 45-17A-84
  • month: means a calendar month. See Alabama Code 30-3D-608
  • NET PRESENT VALUE SAVINGS: The projected cost savings to the county from refinancing any bonds, by comparing the net present value of the costs of the bonds proposed for refunding, including the original costs of issuance and the payment of principal and interest on the bonds proposed for refunding, with the net present value of the costs of the proposed bonds, including the costs of issuance and refinancing and the payment of principal and interest on the proposed bonds. See Alabama Code 45-17A-84
  • Probate: Proving a will
  • project: A structure or structures available for use as a dormitory or other student housing facility, a dining hall, student union, administration building, academic building, library, laboratory, research facility, classroom, athletic facility, health care facility, maintenance, storage or utility facility and other structures or facilities related thereto or required or useful for the instruction of students or the conducting of research or the operation of an institution of higher education, whether proposed, under construction or completed, including parking and other facilities or structures essential or convenient for the orderly conduct of such institution for higher education, and shall also include landscaping, site preparation, furniture, equipment and machinery and other similar items necessary or convenient for the operation of a particular facility or structure in the manner for which its use is intended but shall not include any items the costs of which are customarily deemed to result in a current operating charge, and shall not include any facility used or to be used for sectarian instruction or as a place of religious worship nor any facility which is used or to be used primarily in connection with any part of the program of a school or department of divinity for any religious denomination. See Alabama Code 45-17A-83.04
  • property: Any real, personal or mixed property, or any interest therein, including, without limitation, any real estate, appurtenances, buildings, easements, equipment, furnishings, furniture, improvements, machinery, rights-of-way and structures, or any interest therein. See Alabama Code 45-17A-83.04
  • revenues: With respect to any project, the rents, purchase installments, loan repayment proceeds, fees, charges and other moneys derived by the authority therefrom in connection with the lease, sale or financing thereof. See Alabama Code 45-17A-83.04
  • SWAP AGREEMENT: A swap agreement as defined in Article 3, commencing with Section 41-1-40, of Chapter 1 of Title 41. See Alabama Code 45-17A-84
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Trustee: A person or institution holding and administering property in trust.