Code of Alabama
Chapter 2 - Alabama Corrections Institution Finance Authority.
Section 14-2-15 - Bonds - Recital, Notice and Contest of Authorizing Resolution, Etc.

(a) Any resolution or indenture of trust authorizing any bonds under this chapter shall contain a recital that they are issued pursuant to the provisions of this chapter, which recital shall be conclusive evidence that said bonds have been duly authorized pursuant to the provisions of this chapter, notwithstanding the provisions of any other law now in force or hereafter enacted or amended.
(b) Upon the passage of any resolution or approval of any indenture or trust providing for the issuance of bonds under the provisions of this chapter, the authority may, in its discretion, cause to be published once in each of two consecutive weeks in a newspaper published and having general circulation in the City of Montgomery, Alabama, a notice in substantially the following form, the blanks being first properly filled in:
"Alabama Corrections Institution Finance Authority, an Agency of the State of Alabama, on the _____ day of _____, 20__, adopted a resolution providing for the issuance of _____ Dollars principal amount of bonds of said Authority. Any action or proceeding questioning the validity of said resolution or said bonds or the pledges and agreements made in said resolution for the benefit thereof, or the proceedings under which said bonds, pledges and agreements were authorized, must be commenced within 20 days after the first publication of this notice.
Alabama Corrections Institution Finance Authority.
(c) Any action or proceeding in any court seeking to set aside or invalidate a resolution providing for the issuance of bonds under the provisions of this chapter or to contest the validity of any such bonds or the validity of any pledge or agreement made therefor must be commenced within 20 days after the first publication of said notice. After the expiration of 20 days following such first publication, no right of action or defense founded upon the validity of the resolution, indenture of trust or other proceedings, if any, or of the bonds or of the pledges or agreements shall be asserted. In the event of such publication, the validity of such resolution, indenture of trust, proceedings, bonds, pledges or agreements shall not be open to question in any court upon any ground whatever, except in an action or proceeding commenced within such period. Any such action shall be brought in the circuit court of Montgomery County, Alabama.

Structure Code of Alabama

Code of Alabama

Title 14 - Criminal Correctional and Detention Facilities.

Chapter 2 - Alabama Corrections Institution Finance Authority.

Section 14-2-1 - Definitions.

Section 14-2-2 - Purpose of Chapter; Construction Thereof.

Section 14-2-3 - Incorporation by State Officials - Authority.

Section 14-2-4 - Incorporation by State Officials - Application.

Section 14-2-5 - Incorporation by State Officials - Certificate of Incorporation.

Section 14-2-6 - Members; Officers; Directors; Quorum; Vacancies; Salaries.

Section 14-2-7 - Resolutions and Proceedings of Board of Directors.

Section 14-2-8 - Powers - Generally.

Section 14-2-8.1 - This Section Was Assigned by the Code Commissioner in the 2021 Special Session, Effective October 1, 2021. This Is Not in the Current Code Supplement.

Section 14-2-9 - Powers - Eminent Domain.

Section 14-2-10 - Temporary Loans in Anticipation of Issuance of Bonds.

Section 14-2-11 - Execution of Bonds and Notes.

Section 14-2-12 - Bonds - Authorization.

Section 14-2-13 - Bonds - Sale and Issuance of Refunding Bonds.

Section 14-2-13.1 - Bonds - Limitations on Issuance of Refunding Bonds; Present Value of Debt Service; Average Maturity of Refunding Bonds.

Section 14-2-14 - Bonds - Specifications; Redemption; Precedence.

Section 14-2-15 - Bonds - Recital, Notice and Contest of Authorizing Resolution, Etc.

Section 14-2-16 - Bonds - Sale.

Section 14-2-16.1 - Bonds - Report to Legislature; Contents.

Section 14-2-17 - Bonds - Investment of Surplus in State Fund, etc., and Trust Funds.

Section 14-2-18 - Bonds - Security for Deposit of Governmental Funds.

Section 14-2-19 - Bonds - Disposition of Proceeds.

Section 14-2-20 - Bonds - Investment of Proceeds.

Section 14-2-21 - Bonds - Security.

Section 14-2-22 - Bonds - Enforcement Upon Default.

Section 14-2-23 - Bonds - Bonds and Coupons Deemed Negotiable Instruments.

Section 14-2-24 - Obligations, Bonds, and Notes Not Debt of State.

Section 14-2-25 - Conveyance of Property by State; Right to Possession Thereof; Consideration Therefor.

Section 14-2-26 - Kilby Property - Sale or Lease by Authority.

Section 14-2-27 - Kilby Property - Lease to United States Environmental Protection Agency.

Section 14-2-28 - Facilities - Construction.

Section 14-2-28.1 - Facilities - Determination on Provider of Telephone Service.

Section 14-2-29 - Facilities - Leasing - State or Agency Thereof.

Section 14-2-30 - Facilities - Leasing - County, Municipal Corporation, Agency of Federal Government, Etc.

Section 14-2-30.1 - This Section Was Assigned by the Code Commissioner in the 2021 Special Session, Effective October 1, 2021. This Is Not in the Current Code Supplement.

Section 14-2-31 - Special Funds.

Section 14-2-32 - Exemption From Taxation.

Section 14-2-33 - Venue for Actions.

Section 14-2-34 - Dissolution.

Section 14-2-35 - Fees of Secretary of State.

Section 14-2-36 - Exemption From Competitive Bid Laws.

Section 14-2-37 - Swap Agreements.

Section 14-2-38 - This Section Was Assigned by the Code Commissioner in the 2021 Special Session, Effective October 1, 2021. This Is Not in the Current Code Supplement.

Section 14-2-39 - This Section Was Assigned by the Code Commissioner in the 2021 Special Session, Effective October 1, 2021. This Is Not in the Current Code Supplement.

Section 14-2-40 - This Section Was Assigned by the Code Commissioner in the 2021 Special Session, Effective October 1, 2021. This Is Not in the Current Code Supplement.