All bonds issued by the authority, while not registered, shall be construed to be negotiable instruments even though they are payable from a limited source. All coupons applicable to any bonds issued by the authority, while the applicable bonds are not registered as to both principal and interest, shall likewise be construed to be negotiable instruments although payable from a limited source.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 2 - Provisions Applicable to Municipal Corporations Only.
Chapter 57 - Public Library Authorities.
Section 11-57-1 - Definitions.
Section 11-57-2 - Legislative Intent; Construction of Chapter Generally.
Section 11-57-5 - Certificate of Incorporation - Filing and Recordation.
Section 11-57-6 - Board of Directors; Record of Proceedings of Board.
Section 11-57-8 - Powers - Generally.
Section 11-57-9 - Powers - Eminent Domain.
Section 11-57-10 - Leasing of Projects.
Section 11-57-13 - Bonds - Execution and Delivery.
Section 11-57-14 - Bonds - Negotiability.
Section 11-57-15 - Bonds - Security for Payment of Principal and Interest.
Section 11-57-16 - Bonds - Disposition of Proceeds From Sale.
Section 11-57-17 - Refunding Bonds.
Section 11-57-18 - Investment in Bonds - by Municipalities.
Section 11-57-19 - Investment in Bonds - by Executors, Savings Banks, Insurance Companies, Etc.
Section 11-57-20 - Remedies Upon Default on Bonds, Lease Agreements, Etc.
Section 11-57-21 - Liability of State or Municipalities on Bonds and Obligations of Authorities.
Section 11-57-22 - Investment of Funds of Authorities.
Section 11-57-23 - Conveyances of Property to Authorities by Municipalities.
Section 11-57-25 - Exemption From Taxation of Properties, Bonds, Etc.