Code of Alabama
Chapter 10 - Authorities.
Article 3 - Southern Products Mart Authority.

Section 41-10-50 - Short Title. - This article shall be known as and may be cited...

Section 41-10-51 - Definitions. - When used in this article, the following terms shall have...

Section 41-10-52 - Purpose of Article; Construction of Article. - It is the intention of the Legislature by the passage...

Section 41-10-53 - Authority and Procedure for Incorporation of Authority; Members, Officers and Directors of Authority; Reduction to Writing, Recordation and Admissibility in Evidence of Proceedings of Board of Directors. - (a) The Director of Finance, the Secretary of the Alabama...

Section 41-10-54 - Powers of Authority Generally; Acquisition by Eminent Domain of Real Property or Rights Owned by Railroads or Utilities Not Authorized. - (a) The authority shall have the following powers: (1) To...

Section 41-10-55 - Issuance and Sale of Bonds Authorized Generally; Form, Terms, Denominations, etc., Thereof; Bonds to Be Deemed Negotiable Instruments; Redemption. - Bonds of the authority may be sold from time to...

Section 41-10-56 - Resolution Authorizing Issuance of Bonds to Contain Recital as to Authority for Issuance; Notice of Passage of Resolution; Limitation Period and Venue for Actions to Contest Validity of Resolutions, Bonds, Etc. - (a) Any resolution authorizing any bonds under this article shall...

Section 41-10-57 - Execution and Delivery of Bonds and Interest Coupons. - The bonds shall be signed by the president of the...

Section 41-10-58 - Sale of Bonds; Public Hearing or Consent of Department of Finance, etc., Not a Prerequisite to Issuance of Bonds. - (a) Any of the bonds may be sold at any...

Section 41-10-59 - Refunding Bonds. - Subject to the provisions contained in this article, the authority...

Section 41-10-60 - Disposition of Proceeds From Sale of Bonds and Refunding Bonds. - (a) The authority shall pay out of the proceeds from...

Section 41-10-61 - Exemption From Taxation of Bonds, Properties, Income, etc., of Authority; Use of Bonds as Security for Deposits of State Funds; Investment of Trust Funds in Bonds. - (a) The properties of the authority and the income therefrom...

Section 41-10-62 - Liability Upon Bonds, Debts, Agreements, etc., of Authority. - All debts assumed or created by the authority and all...

Section 41-10-63 - Authority and Procedure for Pledge of Revenues of Authority and Creation of Statutory Lien Upon Facilities and Properties Thereof for Payment of Principal and Interest on Bonds; Remedies Upon Default in Payment of Principal or Inte... - (a) In the proceedings authorizing the issuance of any of...

Section 41-10-64 - Special and Continuing Trust Fund for Payment of Principal and Interest on Bonds of Authority and Maintenance, etc., of Facilities Thereof. - For the purpose of providing funds for the payment of...

Section 41-10-65 - Payment of Principal and Interest on Bonds and Maintenance of Records Pertaining Thereto by State Treasurer. - Out of the revenues referred to in Section 41-10-64, the...

Section 41-10-66 - Annual Audit of Books and Accounts of Authority; Disposition of Reports Thereof. - At least once every 12 months subsequent to the formation...

Section 41-10-67 - Awarding, etc., of Contracts for Construction of Facilities, Buildings and Structures; Supervision, etc., of Construction; Payments to Contractors; Agreement of Authority and Building Commission as to Construction Cost Estimate. - All facilities, buildings and structures constructed by the authority shall...

Section 41-10-68 - Leasing of Buildings, Facilities and Structures. - The authority and any person are hereby authorized to enter...

Section 41-10-69 - Conveyance of Lands, Buildings, Properties, etc., of Authority to State Upon Payment in Full of Bonds, etc.; Dissolution of Authority. - (a) When all bonds issued by the authority and all...