(a) Within 40 days following the adoption of the authorizing resolution the applicants shall proceed to incorporate the authority by filing for record in the office of the Judge of Probate of Calhoun County a certificate of incorporation which shall comply in form and substance with the requirements of this section and which shall be in the form and executed in the manner herein provided.
(b) The certificate of incorporation of the authority shall state:
(1) The names of the persons forming the authority, and that each of them is a duly qualified elector of the city;
(2) The name of the authority, which shall be "The Oxford Downtown Development Authority";
(3) The period for the duration of the authority (if the duration is to be perpetual, subject to the provisions of Section 45-8A-111.19, that fact shall be stated);
(4) The name of the city together with the date on which the governing body thereof adopted the authorizing resolution;
(5) The location of the principal office of the authority, which shall be within the corporate limits of the city;
(6) That the authority is organized pursuant to the provisions of this part; and
(7) Any other matters relating to the authority that the incorporators may choose to insert and that are not inconsistent with this part or with the laws of the state.
(c) The certificate of incorporation shall be signed and acknowledged by the incorporators before an officer authorized by the laws of the state to take acknowledgments to deeds. When the certificate of incorporation is filed for record, there shall be attached to it (1) a copy of the application as filed with the governing body of the city in accordance with the provisions of Section 45-8A-111.03, and (2) a certified copy of the authorizing resolution adopted by the governing body of the city. Upon the filing for record of the certificate of incorporation and the documents required by the preceding sentence to be attached thereto, the authority shall come into existence and shall constitute a public corporation under the name set forth in the certificate of incorporation. The judge of probate shall thereupon send a notice to the Secretary of State that the certificate of incorporation of the authority has been filed for record.
Structure Code of Alabama
Chapter 8A - Calhoun County Municipalities.
Section 45-8A-111 - Legislative Intent.
Section 45-8A-111.01 - Definitions.
Section 45-8A-111.02 - Use of Phrases.
Section 45-8A-111.05 - Amendments to Certificate of Incorporation.
Section 45-8A-111.06 - Board of Directors.
Section 45-8A-111.07 - Officers of the Authority.
Section 45-8A-111.08 - Powers of Authority.
Section 45-8A-111.09 - Bonds of Authority.
Section 45-8A-111.10 - Proceeds From the Sale of Bonds.
Section 45-8A-111.11 - Refunding Bonds.
Section 45-8A-111.12 - Notice of Bond Resolution.
Section 45-8A-111.13 - Exemption From Taxation.
Section 45-8A-111.14 - Liability of City.
Section 45-8A-111.15 - Exemption From Usury and Interest Laws.
Section 45-8A-111.16 - Exemption From Competitive Bid Laws.
Section 45-8A-111.17 - Freedom of Authority From State Supervision and Control.
Section 45-8A-111.18 - Earnings of the Authority.
Section 45-8A-111.19 - Dissolution of the Corporation and Vesting of Title to Property in the City.
Section 45-8A-111.20 - Existence of the Authority to Prevent Incorporation of Another by the City.