Code of Alabama
Chapter 56 - Public Building Authorities.
Section 11-56-6 - Board of Directors; Record of Proceedings of Board.

The corporation shall have a board of directors composed of the number of directors provided in the certificate of incorporation. All powers of the corporation shall be exercised by the board or pursuant to its authorization. The directors shall be residents of the municipality and shall be elected by the governing body for staggered terms of office as follows: The first term of one third of the directors shall be two years; of another one third, four years; and of the remaining one third, six years. Thereafter the term of office of each director shall be six years. If any director resigns, dies, becomes incapable of acting as a director or ceases to reside in the municipality, the governing body shall elect a successor to serve for the unexpired period of his term. Directors shall be eligible for reelection by the governing body to succeed themselves in office. No director shall be an officer of the state or the municipality. A majority of the members of the board shall constitute a quorum for the transaction of business. No vacancy in the membership of the board shall impair the right of a quorum to exercise all the powers and duties of the corporation. The members of the board and the officers of the corporation shall serve without compensation, except that they may be reimbursed for actual expenses incurred in and about the performance of their duties.
All proceedings of the board shall be reduced to writing by the secretary of the corporation and recorded in a well-bound book. Copies of such proceedings, when certified by the secretary of the corporation under its seal, shall be received in all courts as evidence of the matters and things therein certified.

Structure Code of Alabama

Code of Alabama

Title 11 - Counties and Municipal Corporations.

Title 2 - Provisions Applicable to Municipal Corporations Only.

Chapter 56 - Public Building Authorities.

Section 11-56-1 - Definitions.

Section 11-56-2 - Legislative Intent; Construction of Chapter Generally.

Section 11-56-3 - Application for Authority to Form Corporation; Adoption of Resolution by Governing Body Authorizing Incorporation; Procedure for Incorporation Generally.

Section 11-56-4 - Certificate of Incorporation - Contents; Approval by Governing Body.

Section 11-56-5 - Certificate of Incorporation - Execution, Acknowledgment, Filing, and Recordation.

Section 11-56-6 - Board of Directors; Record of Proceedings of Board.

Section 11-56-7 - Officers.

Section 11-56-8 - Powers Generally.

Section 11-56-9 - Leasing of Projects.

Section 11-56-10 - Bonds - Authority for Issuance; Security for Payment of Principal and Interest Generally; Form, Terms, Denominations, etc.; Sale, Redemption, Etc.

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.

Section 11-56-12 - Bonds - Execution and Delivery.

Section 11-56-13 - Bonds - Security for Payment of Principal and Interest; Remedies Upon Default Generally.

Section 11-56-14 - Bonds - Disposition of Proceeds From Sale.

Section 11-56-15 - Bonds - Remedies Upon Default in Payment of Principal or Interest on Bonds.

Section 11-56-16 - Refunding Bonds.

Section 11-56-17 - Investment in Bonds - by Municipalities.

Section 11-56-18 - Investment in Bonds - by Executors, Savings Banks, Insurance Companies, Etc.

Section 11-56-19 - Conveyances of Property to Corporations by Municipalities.

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...

Section 11-56-21 - Exemption From Taxation of Projects, Bonds, Etc.

Section 11-56-22 - Construction of Chapter.