Code of Alabama
Article 3 - Southern Products Mart Authority.
Section 41-10-51 - Definitions.

When used in this article, the following terms shall have the following meanings, respectively, unless the context clearly indicates otherwise:
(1) STATE. The State of Alabama.
(2) COUNTY. Jefferson County in this state.
(3) AUTHORITY. The Southern Products Mart Authority authorized to be incorporated under the provisions of this article.
(4) BOARD or BOARD OF DIRECTORS. The board of directors of the authority.
(5) DIRECTOR OF FINANCE. The Director of Finance of the state.
(6) SECRETARY OF THE ALABAMA DEPARTMENT OF COMMERCE. The Secretary of the Alabama Department of Commerce of the state.
(7) EXECUTIVE SECRETARY TO THE GOVERNOR. The Executive Secretary to the Governor of the state.
(8) STATE TREASURER. The Treasurer of the state.
(9) STATE TREASURY. The Treasury of the state.
(10) BOND. Any bond authorized to be issued pursuant to the provisions of this article, including a refunding bond as hereinafter authorized.
(11) COUPON. Any interest coupon evidencing an installment of interest payable with respect to a bond.
(12) PERSON. Any individual, firm, partnership, corporation, company, association, joint-stock association, the state or any political subdivision thereof, any agency or board of the state, any municipality or body politic and includes any trustee, receiver, assignee or other similar representative thereof.

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Structure Code of Alabama

Code of Alabama

Title 41 - State Government.

Chapter 10 - Authorities.

Article 3 - Southern Products Mart Authority.

Section 41-10-50 - Short Title.

Section 41-10-51 - Definitions.

Section 41-10-52 - Purpose of Article; Construction of Article.

Section 41-10-53 - Authority and Procedure for Incorporation of Authority; Members, Officers and Directors of Authority; Reduction to Writing, Recordation and Admissibility in Evidence of Proceedings of Board of Directors.

Section 41-10-54 - Powers of Authority Generally; Acquisition by Eminent Domain of Real Property or Rights Owned by Railroads or Utilities Not Authorized.

Section 41-10-55 - Issuance and Sale of Bonds Authorized Generally; Form, Terms, Denominations, etc., Thereof; Bonds to Be Deemed Negotiable Instruments; Redemption.

Section 41-10-56 - Resolution Authorizing Issuance of Bonds to Contain Recital as to Authority for Issuance; Notice of Passage of Resolution; Limitation Period and Venue for Actions to Contest Validity of Resolutions, Bonds, Etc.

Section 41-10-57 - Execution and Delivery of Bonds and Interest Coupons.

Section 41-10-58 - Sale of Bonds; Public Hearing or Consent of Department of Finance, etc., Not a Prerequisite to Issuance of Bonds.

Section 41-10-59 - Refunding Bonds.

Section 41-10-60 - Disposition of Proceeds From Sale of Bonds and Refunding Bonds.

Section 41-10-61 - Exemption From Taxation of Bonds, Properties, Income, etc., of Authority; Use of Bonds as Security for Deposits of State Funds; Investment of Trust Funds in Bonds.

Section 41-10-62 - Liability Upon Bonds, Debts, Agreements, etc., of Authority.

Section 41-10-63 - Authority and Procedure for Pledge of Revenues of Authority and Creation of Statutory Lien Upon Facilities and Properties Thereof for Payment of Principal and Interest on Bonds; Remedies Upon Default in Payment of Principal or Inte...

Section 41-10-64 - Special and Continuing Trust Fund for Payment of Principal and Interest on Bonds of Authority and Maintenance, etc., of Facilities Thereof.

Section 41-10-65 - Payment of Principal and Interest on Bonds and Maintenance of Records Pertaining Thereto by State Treasurer.

Section 41-10-66 - Annual Audit of Books and Accounts of Authority; Disposition of Reports Thereof.

Section 41-10-67 - Awarding, etc., of Contracts for Construction of Facilities, Buildings and Structures; Supervision, etc., of Construction; Payments to Contractors; Agreement of Authority and Building Commission as to Construction Cost Estimate.

Section 41-10-68 - Leasing of Buildings, Facilities and Structures.

Section 41-10-69 - Conveyance of Lands, Buildings, Properties, etc., of Authority to State Upon Payment in Full of Bonds, etc.; Dissolution of Authority.