The authority shall have the following powers among others specified in this article:
(1) To have succession in its corporate name until the principal of and interest on all bonds issued by it shall have been fully paid and until it shall have been dissolved as provided herein;
(2) To maintain actions and have actions maintained against it and to prosecute and defend in any court having jurisdiction of the subject matter and of the parties thereof;
(3) To have and to use a corporate seal and to alter such seal at pleasure;
(4) To establish a fiscal year;
(5) To acquire and hold title to real and personal property and to sell, convey, mortgage or lease the same as provided in this article;
(6) To provide for the construction, reconstruction, alteration and improvement of facilities and for the procurement of sites and equipment for such facilities and for the lease thereof;
(7) To lease facilities to the state, the commission or any other agency or instrumentality of the state designated to perform the activities of the commission;
(8) To anticipate by the issuance of its bonds, subject to the provisions of this article, the receipt of the rent and revenues from such facilities;
(9) As security for the payment of the principal of and interest on its bonds, to enter into any lawful covenant, to grant mortgages upon or security interests in its facilities and to pledge the rents and revenues from such facilities;
(10) To appoint a bank or savings and loan association as a depositary for funds of the authority;
(11) To invest as provided in this article the proceeds from the sale of its bonds pending need therefor; and
(12) To appoint and employ such attorneys, agents and employees as the business of the authority may require, subject to the Merit System where applicable.
Structure Code of Alabama
Article 10 - Alabama Space Science Exhibit Finance Authority.
Section 41-10-300 - Definitions.
Section 41-10-301 - Purpose of Article and Construction.
Section 41-10-302 - Incorporation of Authority.
Section 41-10-303 - Certificate of Incorporation - Application.
Section 41-10-304 - Certificate of Incorporation - Issuance.
Section 41-10-306 - Resolutions and Proceedings of Board of Directors.
Section 41-10-307 - Powers of Authority.
Section 41-10-308 - Temporary Loans in Anticipation of Issuance of Bonds.
Section 41-10-309 - Execution of Bonds and Notes.
Section 41-10-310 - Authority to Issue Bonds.
Section 41-10-311 - Authority to Issue Refunding Bonds.
Section 41-10-312 - Specifications and Priority of Bonds.
Section 41-10-313 - Price of Bonds; Competitive Bidding; Notice of Sale; Expenses of Sale.
Section 41-10-314 - Investment of Trust Funds in Bonds of Authority.
Section 41-10-315 - Security for Deposit of Governmental Funds.
Section 41-10-316 - Disposition of Proceeds of Bonds.
Section 41-10-317 - Investment of Proceeds.
Section 41-10-318 - Security for Bonds.
Section 41-10-319 - Rights of Holders of Bonds Upon Default.
Section 41-10-320 - Bonds and Coupons Deemed Negotiable Instruments.
Section 41-10-321 - Obligations, Bonds and Notes Not Debts of State.
Section 41-10-322 - Conveyance of Property by Commission; Right to Possession.
Section 41-10-323 - Plans for Construction of Facilities.
Section 41-10-324 - Leasing to Commission and Other Agencies.
Section 41-10-325 - Lease of Vacant Facilities to Prevent Default on Bonds.
Section 41-10-326 - Special Funds for Payment of Bonds, Insurance, and Other Expenses.
Section 41-10-327 - Exemption From Taxation.
Section 41-10-328 - Venue for Actions.
Section 41-10-329 - No Fees for Incorporation or Dissolution.
Section 41-10-330 - Dissolution.
Section 41-10-331 - Exemption of Leases of Facilities From Competitive Bid Laws.