It is the purpose of the Legislature by this chapter to authorize the incorporation of educational building authorities as public corporations and as political subdivisions of the state for the purpose of providing ancillary improvements for use in connection with educational institutions in this state, and to invest each authority organized hereunder with all power that may be necessary or appropriate to enable it to accomplish such purpose, including but without limitation to the power to lease its properties and to issue interest-bearing revenue bonds. This chapter shall be liberally construed in conformity with the said intent.
Structure Code of Alabama
Chapter 17 - Educational Building Authorities.
Section 16-17-1 - Definitions.
Section 16-17-2 - Legislative Intent.
Section 16-17-3 - Procedure to Incorporate.
Section 16-17-4 - Amendments to Certificate of Incorporation.
Section 16-17-5 - Board of Directors.
Section 16-17-6 - Officers of Authority.
Section 16-17-7 - Powers of Authority.
Section 16-17-8 - Location of Ancillary Improvements.
Section 16-17-9 - Remedies Under Lease Agreements.
Section 16-17-10 - Bonds of Authority.
Section 16-17-11 - Contracts to Secure Bonds and Assumed Obligations.
Section 16-17-12 - Statutory Mortgage Lien.
Section 16-17-13 - Proceeds From Sale of Bonds.
Section 16-17-14 - Exemption From Taxation.
Section 16-17-15 - Freedom of Authority From State Supervision and Control.
Section 16-17-16 - Earnings of Authority.
Section 16-17-17 - Investments in Bonds of Authority.
Section 16-17-18 - Notice of Bond Resolution.
Section 16-17-19 - Dissolution of Authority and Vesting of Title to Its Properties.