The bonds, bond anticipation notes and notes authorized in this chapter shall be securities in which all public officers and bodies of this state and all political subdivisions, all insurance companies and associations, and other persons carrying on an insurance business, all banks, bankers, trust companies, savings banks, and savings associations, including savings and loan associations, building and loan associations, investment companies, and other persons carrying on a banking business, all administrators, guardians, executors, trustees, and other fiduciaries and all other persons whatsoever who are now or may hereafter be authorized to invest in bonds or other obligations of the state, may properly and legally invest funds. The bonds, bond anticipation notes and notes shall also be securities which may be deposited with and shall be received by all public officers and bodies of this state and all political subdivisions for any purpose for which deposit of the bonds or other obligations of this state is now or may hereafter be authorized.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 2 - Provisions Applicable to Municipal Corporations Only.
Chapter 50A - Municipal Electric Authority.
Section 11-50A-1 - Definitions.
Section 11-50A-2 - Legislative Intent.
Section 11-50A-3 - Purpose of Authority.
Section 11-50A-4 - Application for Incorporation.
Section 11-50A-5 - Issuance and Recording of Certificate of Incorporation; No Fees to Be Paid.
Section 11-50A-7 - Tax Exemptions; Payments in Lieu of Taxes.
Section 11-50A-8 - Powers of the Authority.
Section 11-50A-10 - Validation of Bonds.
Section 11-50A-11 - Validation of Contracts.
Section 11-50A-12 - Bond Provisions; Destroyed Bonds; Interest; Cancellation; Paying Agents.
Section 11-50A-13 - Immunity From Liability; Credit Not Pledged.
Section 11-50A-14 - Right to Receivership Upon Default.
Section 11-50A-15 - Negotiability of Bonds.
Section 11-50A-16 - Bonds as Legal Investments.
Section 11-50A-18 - Revenues of Authority; Rates; Assignment to Trustee; Use of Revenues.
Section 11-50A-19 - Pledge of Revenues.
Section 11-50A-20 - Trust Agreement.
Section 11-50A-21 - Proceeds of Bonds.
Section 11-50A-22 - Issuance of Bond Anticipation Notes and Notes.
Section 11-50A-23 - Trust Funds.
Section 11-50A-24 - Jurisdiction of Actions.
Section 11-50A-25 - Public Service Commission Review and Regulation.
Section 11-50A-27 - Dissolution of Authority.
Section 11-50A-28 - Exemption From Alabama Sunset Law.
Section 11-50A-29 - Exemption From Competitive Bid Laws.
Section 11-50A-30 - Construction.
Section 11-50A-31 - Effectiveness of Pledges and Security Interests.