Code of Alabama
Chapter 50A - Municipal Electric Authority.
Section 11-50A-2 - Legislative Intent.

The municipalities are now empowered to own and operate electric distribution systems to serve their citizens, inhabitants, and customers by providing them electricity for all purposes. To assure that the municipalities may have alternative sources of bulk electric power and energy, in addition to those presently available, to operate their electric distribution systems in a dependable, efficient, and economical manner, it is desirable that the municipalities acting through the authority be empowered to engage in joint action for the generation, transmission, and distribution of bulk electric power and energy for sale to the municipalities for resale and for the sale, purchase, exchange and transmission of bulk electric power and energy with other electric suppliers. The Legislature finds and declares that the provision of alternative sources of bulk electric power and energy to the municipalities through joint action in the fields of generation, transmission, and distribution is in the public interest; that the creation of the authority as a non-profit public corporation is desirable to aid in the continued viability of the electric distribution systems operated by the municipalities and to provide for a means by which the municipalities may act jointly in all ways possible for the purpose of coordinated bulk electric power and energy supply programs; and that the necessity in the public interest for the provisions herein enacted is declared as a matter of legislative determination.

Structure Code of Alabama

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-6 - Board of Directors; Election Committee; Meetings; Officers; Compensation; Recordkeeping.

Section 11-50A-7 - Tax Exemptions; Payments in Lieu of Taxes.

Section 11-50A-8 - Powers of the Authority.

Section 11-50A-9 - Issuance of Bonds; Prerequisites; Procedure; Provisions; Execution; Bond Resolution Covenants.

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-17 - Contracts for Use of Projects; Purchase of Electric Power; Payment of Charges; Indemnity; Enforcement of Performance.

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-26 - Provisions of Resolution, Agreement, Chapter, etc., as Irrevocable Contract With Holders of Bonds, Notes, Etc.

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.

Section 11-50A-32 - Powers Declared Supplementary.

Section 11-50A-33 - Severability.