Code of Alabama
Title 2 - Provisions Applicable to Municipal Corporations Only.
Chapter 50A - Municipal Electric Authority.

Section 11-50A-1 - Definitions. - As used in this chapter, the following words shall have...

Section 11-50A-2 - Legislative Intent. - The municipalities are now empowered to own and operate electric...

Section 11-50A-3 - Purpose of Authority. - The purpose of the authority shall be to acquire, construct,...

Section 11-50A-4 - Application for Incorporation. - (a) To become a public corporation, the individuals designated as...

Section 11-50A-5 - Issuance and Recording of Certificate of Incorporation; No Fees to Be Paid. - When the application has been made, filed, and recorded as...

Section 11-50A-6 - Board of Directors; Election Committee; Meetings; Officers; Compensation; Recordkeeping. - (a) The board of directors of the authority shall be...

Section 11-50A-7 - Tax Exemptions; Payments in Lieu of Taxes. - All bonds, bond anticipation notes, and notes issued by the...

Section 11-50A-8 - Powers of the Authority. - In addition to other powers granted the authority by this...

Section 11-50A-9 - Issuance of Bonds; Prerequisites; Procedure; Provisions; Execution; Bond Resolution Covenants. - (a) The authority shall, prior to the adoption by the...

Section 11-50A-10 - Validation of Bonds. - Except as otherwise provided in this section, the validity of...

Section 11-50A-11 - Validation of Contracts. - When payments required by the provisions of Section 11-50A-17 to...

Section 11-50A-12 - Bond Provisions; Destroyed Bonds; Interest; Cancellation; Paying Agents. - (a) If any bond becomes mutilated or is lost, stolen,...

Section 11-50A-13 - Immunity From Liability; Credit Not Pledged. - (a) Neither the members of the election committee, the members...

Section 11-50A-14 - Right to Receivership Upon Default. - (a) In the event that the authority shall default in...

Section 11-50A-15 - Negotiability of Bonds. - Bonds, bond anticipation notes and notes issued by the authority...

Section 11-50A-16 - Bonds as Legal Investments. - The bonds, bond anticipation notes and notes authorized in this...

Section 11-50A-17 - Contracts for Use of Projects; Purchase of Electric Power; Payment of Charges; Indemnity; Enforcement of Performance. - (a) Any municipality, if authorized by resolution or ordinance of...

Section 11-50A-18 - Revenues of Authority; Rates; Assignment to Trustee; Use of Revenues. - (a) For the purpose of earning sufficient revenues to make...

Section 11-50A-19 - Pledge of Revenues. - All or any part of the gross or net revenues...

Section 11-50A-20 - Trust Agreement. - In the discretion of the authority, any issue of bonds...

Section 11-50A-21 - Proceeds of Bonds. - Proceeds of the bonds issued under authority of this chapter...

Section 11-50A-22 - Issuance of Bond Anticipation Notes and Notes. - The authority shall have the power and is authorized to...

Section 11-50A-23 - Trust Funds. - All funds received by the authority pursuant to this chapter,...

Section 11-50A-24 - Jurisdiction of Actions. - Any action to protect or enforce any rights under the...

Section 11-50A-25 - Public Service Commission Review and Regulation. - The authority shall be subject to the provisions of Title...

Section 11-50A-26 - Provisions of Resolution, Agreement, Chapter, etc., as Irrevocable Contract With Holders of Bonds, Notes, Etc. - The provisions of any bond resolution, trust agreement or indenture...

Section 11-50A-27 - Dissolution of Authority. - When all bonds, bond anticipation notes and notes issued by...

Section 11-50A-28 - Exemption From Alabama Sunset Law. - The authority shall not be governed by the provisions of...

Section 11-50A-29 - Exemption From Competitive Bid Laws. - No contract made by or on behalf of the authority,...

Section 11-50A-30 - Construction. - This chapter, being for the welfare of the state and...

Section 11-50A-31 - Effectiveness of Pledges and Security Interests. - Any pledge or security interest created or granted by the...

Section 11-50A-32 - Powers Declared Supplementary. - The provisions of this chapter shall be regarded as supplementary...

Section 11-50A-33 - Severability. - In the event any portion of this chapter should be...