(a) It is the intent of the Legislature by the passage of this division to authorize the incorporation in the several municipalities in this state of industrial development boards to acquire, enlarge, improve, replace, own, lease, and dispose of properties to the end that such boards may be able to promote industry, develop trade, and further the use of the agricultural products and natural and human resources of this state and the development and preservation of the said resources, by inducing manufacturing, industrial, commercial, and research enterprises:
(1) To locate in this state,
(2) To enlarge, expand, and improve existing operations in this state, or
(3) To relocate in or within 25 miles of the same municipality in this state operations theretofore conducted at a site all or a major portion of which may have been acquired for one or more public purposes by the United States of America, the State of Alabama, or any branch, arm, agency, instrumentality, or political subdivision of either, whether by purchase, through the exercise of the power of eminent domain (whether or not a final decree of condemnation shall have been entered) or by other means. It is the further intent of the Legislature by the passage of this chapter to vest such industrial development boards with all powers that may be necessary to enable them to accomplish such purposes. It is not intended hereby that any such board shall itself be authorized to operate any such manufacturing, industrial, commercial, or research enterprise.
(b) This division shall be liberally construed in conformity with the said intention.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 2 - Provisions Applicable to Municipal Corporations Only.
Chapter 54 - Promotion of Industry, Trade, Commerce and Pollution Control.
Article 4 - Industrial Development Boards.
Division 1 - General Provisions.
Section 11-54-80 - Definitions.
Section 11-54-81 - Legislative Intent; Construction of Division Generally.
Section 11-54-83 - Certificate of Incorporation - Contents; Execution and Acknowledgment.
Section 11-54-85 - Certificate of Incorporation - Amendment.
Section 11-54-86 - Board of Directors.
Section 11-54-88 - Additional Powers as to Pollution Control Facilities.
Section 11-54-90 - Bonds - Security for Payment of Principal and Interest; Remedies Upon Default.
Section 11-54-92 - Liability of Municipalities Upon Bonds, Agreements, Obligations, etc., of Boards.
Section 11-54-93 - Disposition of Net Earnings of Boards.
Section 11-54-96 - Exemptions of Boards - Taxation.
Section 11-54-96.1 - Ad Valorem Taxes Required of Hotels, etc., Built Under Section 11-54-80.
Section 11-54-97 - Exemption of Boards - Usury and Interest Laws.
Section 11-54-98 - Exemption of Boards - Competitive Bid Laws.
Section 11-54-99 - Validation of Attempted Incorporation of Certain Industrial Development Boards.