All moneys derived from the sale of any bonds issued by the authority shall be used solely for the purpose or purposes for which the same are authorized, including, but without limitation to, the use of bond proceeds to establish reserve funds as security for the payment of the principal of (and premium, if any) and interest on the bonds, and any costs and expenses incidental thereto. Such costs and expenses may include but shall not be limited to (1) the fiscal, engineering, legal, and other expenses incurred in connection with the issuance of the bonds, and (2) except in the case of refunding bonds, interest to accrue on such bonds for a period ending not later than two years from their date.
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.