The authority may from time to time sell and issue refunding bonds for the purpose of refunding any matured or unmatured bonds then outstanding that were originally issued under this chapter. To the extent they may be applicable, the provisions of this chapter pertaining to the authorization, sale, execution, redemption, maximum interest rate, maturities, issuance and other details of the bonds, shall apply to such refunding bonds. The total principal amount of bonds that may be initially issued hereunder under the provisions of the first sentence of Section 33-13-9 is hereby expressly limited to $45,000,000.00; and the total amount of refunding bonds that may be issued hereunder is hereby expressly limited to the principal amount of the bonds that are to be refunded by any such refunding bonds.
Structure Code of Alabama
Title 33 - Navigation and Watercourses.
Chapter 13 - Alabama Port Authority.
Section 33-13-1 - Definitions.
Section 33-13-2 - Legislative Intent; Construction of Chapter.
Section 33-13-3 - Authorization to Form Public Corporation.
Section 33-13-4 - Procedure for Incorporation.
Section 33-13-5 - Certificate of Incorporation; No Fees to Be Paid to Secretary of State.
Section 33-13-6 - Members, Officers and Directors; Meetings; Record of Proceedings.
Section 33-13-7 - Powers Enumerated.
Section 33-13-8 - Fiscal Year; Reports and Recommendations.
Section 33-13-9 - Bonds - Generally.
Section 33-13-10 - Bonds - State Docks Facilities Reserve Fund.
Section 33-13-11 - Bonds - Refunding Bonds.
Section 33-13-12 - Bonds - Disposition of Proceeds; Investments.
Section 33-13-13 - Bonds - State Treasurer to Pay Principal and Interest of Bonds; Records.