Code of Alabama
Title 2 - Provisions Applicable to Municipal Corporations Only.
Chapter 56 - Public Building Authorities.

Section 11-56-1 - Definitions. - The following words and phrases, whenever used in this chapter,...

Section 11-56-2 - Legislative Intent; Construction of Chapter Generally. - (a) It is the intention of the Legislature by the...

Section 11-56-3 - Application for Authority to Form Corporation; Adoption of Resolution by Governing Body Authorizing Incorporation; Procedure for Incorporation Generally. - Whenever any number of natural persons, not less than three,...

Section 11-56-4 - Certificate of Incorporation - Contents; Approval by Governing Body. - (a) The certificate of incorporation of the corporation shall state:...

Section 11-56-5 - Certificate of Incorporation - Execution, Acknowledgment, Filing, and Recordation. - The certificate of incorporation shall be signed and acknowledged by...

Section 11-56-6 - Board of Directors; Record of Proceedings of Board. - The corporation shall have a board of directors composed of...

Section 11-56-7 - Officers. - The officers of the corporation shall consist of a chairman,...

Section 11-56-8 - Powers Generally. - The corporation shall have the following powers, together with all...

Section 11-56-9 - Leasing of Projects. - (a) The corporation and any local subdivision are hereby respectively...

Section 11-56-10 - Bonds - Authority for Issuance; Security for Payment of Principal and Interest Generally; Form, Terms, Denominations, etc.; Sale, Redemption, Etc. - The corporation is authorized at any time and from time...

Section 11-56-11 - Bonds - Notice of Resolution Authorizing Issuance of Bonds; Limitation Period for Actions, etc., as to Validity of Proceedings for Issuance of Bonds, Etc. - (a) Upon the adoption by the board of any resolution...

Section 11-56-12 - Bonds - Execution and Delivery. - All bonds shall be signed by the chairman or vice-chairman...

Section 11-56-13 - Bonds - Security for Payment of Principal and Interest; Remedies Upon Default Generally. - (a) The principal of and the interest on the bonds...

Section 11-56-14 - Bonds - Disposition of Proceeds From Sale. - (a) The proceeds derived from the sale of any bonds...

Section 11-56-15 - Bonds - Remedies Upon Default in Payment of Principal or Interest on Bonds. - If there shall be any default in the payment of...

Section 11-56-16 - Refunding Bonds. - The corporation may at any time and from time to...

Section 11-56-17 - Investment in Bonds - by Municipalities. - The governing body is authorized in its discretion to invest...

Section 11-56-18 - Investment in Bonds - by Executors, Savings Banks, Insurance Companies, Etc. - Bonds issued under the provisions of this chapter are hereby...

Section 11-56-19 - Conveyances of Property to Corporations by Municipalities. - The municipality is hereby authorized to convey to the corporation,...

Section 11-56-20 - Authority and Procedure for Dissolution of Corporations; Vesting of Title to Properties Thereof in Municipalities Upon Dissolution; Formation of Corporations Not to Prevent Subsequent Formation of Other Corporations by Same Municip... - (a) At any time when the corporation does not have...

Section 11-56-21 - Exemption From Taxation of Projects, Bonds, Etc. - Each project and the income from all leases made with...

Section 11-56-22 - Construction of Chapter. - This chapter shall not be construed as a restriction or...