Any bonds of the authority may be executed and delivered by it at any time and from time to time, shall be in such form and denominations and of such tenor and maturities, shall bear such rate or rates of interest, fixed or floating, payable and evidenced in such manner, may contain provisions for redemption prior to maturity and may contain other provisions not inconsistent with this section, all as may be provided by the resolution of the board of directors whereunder such bonds are authorized to be issued; provided that no bond of the authority shall have a specified maturity date later than 30 years after its date. In the event that the authority shall make more than one pledge of the same revenues, such pledges shall, unless otherwise provided in the resolution or resolutions authorizing the earlier issued bonds, take precedence in the order of the adoption of the resolutions in which the pledges are made; provided, that each pledge for the benefit of refunding bonds shall have the same priority as the pledge for the benefit of the bonds refunded thereby.
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.