(a) To become a public corporation, the individuals designated as the first members of the election committee described in Section 11-50A-6(b)(1) shall, immediately before the first meeting of the election committee provided in Section 11-50A-6, present to the Secretary of State of the state an application signed by them as applicants which shall set forth:
(1) The name, official designation, if any, and residence of each of the applicants;
(2) The date on which each applicant was designated a member of the election committee;
(3) The name of the proposed corporation, which shall be the Alabama Municipal Electric Authority;
(4) The location of the principal office of the proposed corporation, which shall be in the City of Montgomery, Montgomery County; and
(5) Any other matter relating to the incorporation of the authority which the applicants may choose to insert and which is not inconsistent with this chapter or the laws of the state.
(b) The application shall be signed and sworn to by each of the applicants before an officer authorized by the laws of this state to take acknowledgments to deeds.
(c) The Secretary of State shall examine the application; and, if he finds that it substantially complies with the requirements of this section, he shall receive and file it and record it in an appropriate book of records in his office.
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.