Code of Alabama
Chapter 10 - Authorities.
Article 16 - Alabama Incentives Financing Authority.

Division 1 - General Provisions.

Section 41-10-540 - Legislative Findings; Construction. - The Legislature finds and declares the following: That the State...

Section 41-10-541 - Definitions. - (a) The following words and phrases used in this division,...

Section 41-10-542 - Incorporation of Authority. - The Governor, the State Treasurer and the Director of Finance...

Section 41-10-543 - Application for Incorporation. - (a) To become the public corporation herein authorized, the Governor,...

Section 41-10-544 - Certificate of Incorporation. - When the application has been made, filed, and recorded, the...

Section 41-10-545 - Members; Officers; Quorum; Vacancies; Salaries; Record of Proceedings. - The applicants named in the application and their respective successors...

Section 41-10-546 - Powers of Authority. - The authority shall have, in addition to all other powers...

Section 41-10-547 - Bonds of the Authority. - (a) The authority is authorized from time to time to...

Section 41-10-548 - Use of Proceeds From Bonds. - The authority is authorized and empowered to apply the proceeds...

Section 41-10-549 - Payment or Reimbursement of Training Facility Management Fees. - In addition to the power to finance training facility management...

Section 41-10-550 - Appropriation and Pledge of Funds for Authority Obligations. - (a) For the purpose of providing funds to enable the...

Section 41-10-551 - Manner of Ownership, Operation, Leasing, and Disposition of Facilities Financed by Authority. - No authority obligations shall be incurred with respect to any...

Section 41-10-552 - Publication of Notice; Time Limitation on Actions Contesting Proceedings, Validity of Obligations, Etc. - Upon the adoption by the directors of any resolution providing...

Section 41-10-553 - Exemption From Taxes, Fees, Etc. - The income and property of the authority, all authority obligations...

Section 41-10-554 - No Notice, Approval, Public Hearing, etc., Required for Issuance of Obligations. - Except as may be expressly provided in this division, no...

Section 41-10-555 - Exemption From Competitive Bid Laws. - Articles 2 and 3 of Chapter 16 of this title...

Section 41-10-556 - Dissolution of Authority. - At any time when no authority obligations are outstanding and...

Division 2 - Pledge and Appropriation of Tva Payments to Redeem Bonds.

Section 41-10-570 - Pledge and Appropriation of State Revenues From Tva Payments to Pay and Redeem Bonds Prior to Maturity. - There is hereby irrevocably pledged and appropriated such amounts as...

Division 3 - Financing Y2k Expenditures.

Section 41-10-590 - Legislative Findings. - The Legislature finds and declares the following: That the State...

Section 41-10-591 - Definitions. - (a) Except as otherwise expressly provided herein, words and phrases...

Section 41-10-592 - Authority to Issue Bonds to Finance Y2k Expenditures. - (a) The authority shall have, in addition to all other...

Section 41-10-593 - Use of Bond Proceeds. - The proceeds derived from the sale of bonds issued by...

Section 41-10-594 - Report of Expenditures; Diversity Requirement. - The state Finance Director shall report to the Lieutenant Governor,...