Chapter 1 - Agricultural Center
- Article 1 Agricultural Center Board.
- Section 2-6-1 Board established; composition; duties; vacancies; compensation; rules and regulations
There is hereby created and established an Agricultural Center Board, to consist of the Commissioner of Agriculture and Industries and four members who shall ...
- Section 2-6-3 Employees
The Agricultural Center Board is authorized, subject to the provisions of the state Merit System, to employ such persons as may be necessary for ...
- Article 2 Agricultural Center Corporation.
- Section 2-6-20 Definitions
The following words and phrases, wherever used in this article, shall have the following respective meanings unless the context clearly indicates otherwise: (1) THE ...
- Section 2-6-21 Legislative findings and intent
The Legislature has ascertained and found and hereby declares that agriculture, dairying and the raising of livestock constitute the principal sources of income of ...
- Section 2-6-22 Authority and procedure for incorporation
The Governor, the Commissioner of Agriculture and Industries and the Director of Finance may become a corporation with the powers and authority provided in ...
- Section 2-6-23 Certificate of incorporation
When the application has been made, filed and recorded as provided in this article, the applicants shall constitute a corporation under the name proposed ...
- Section 2-6-24 Governor, Commissioner of Agriculture and Industries and Director of Finance to constitute corporation; directors; officers; record of proceedings
The Governor, the Commissioner of Agriculture and Industries and the Director of Finance shall constitute a corporation under the name Alabama Agricultural Center Corporation, ...
- Section 2-6-25 Powers of corporation generally
The corporation shall have the following powers, together with all powers incidental thereto or necessary to the discharge thereof in corporate form: (1) To ...
- Section 2-6-26 Conveyance of coliseum and lands of agricultural center to corporation by state
The Governor is authorized and directed to execute and deliver, in the name of and in behalf of the state, immediately before or simultaneously ...
- Section 2-6-27 Lease of corporation's properties to board - Authorized; provisions of lease agreement
The corporation is authorized to enter into a lease agreement with the board whereunder all or any part of the properties of the corporation ...
- Section 2-6-28 Issuance and sale of bonds of corporation
The corporation is authorized to issue its interest-bearing revenue bonds, not exceeding $1,250,000.00 in aggregate principal amount, solely for the purpose of completing the ...
- Section 2-6-29 Execution of bonds
All bonds of the corporation shall be signed by its president or vice-president, and the seal of the corporation shall be affixed thereto and ...
- Section 2-6-30 Pledge for bonds
In the proceedings authorizing the issuance of its bonds, the corporation is hereby authorized and empowered to pledge the said lease agreement and the ...
- Section 2-6-31 Use of proceeds from sale of bonds
All proceeds derived from the sale of any bonds of the corporation (other than refunding bonds) shall be deposited in the State Treasury and ...
- Section 2-6-32 Construction of coliseum
The corporation shall go forward with and complete the construction and equipment of the coliseum and facilities necessary in connection therewith as soon as ...
- Section 2-6-33 Refunding bonds
All or any bonds issued by the corporation may from time to time thereafter be refunded by the issuance of refunding revenue bonds of ...
- Section 2-6-34 State Treasurer to disburse rental payments
Out of the rental payments provided to be made in the lease authorized in Section 2-6-27, the State Treasurer is authorized and directed to ...
- Section 2-6-35 Notice of bond resolution; limitation of action to contest validity of bonds, etc.; venue of actions under article
Upon the adoption by the board of directors of the corporation of any resolution providing for the issuance of the bonds under the provisions ...
- Section 2-6-36 Bonds legal investments
Bonds issued by the corporation under the provisions of this article shall be legal investments for fiduciaries investing trust funds and for investments by ...
- Section 2-6-37 Exemption from taxation
The properties of the corporation and the rentals derived from the leasing thereof, the bonds issued by the corporation and the income therefrom, all ...
- Section 2-6-38 Conveyance of properties to state; dissolution of corporation
When all bonds issued by the corporation and all obligations incurred by it under the provisions of and within the limitations contained in this ...
- Article 3 Lease of Coliseum Building and Facilities.
- Section 2-6-50 Definitions
The following words and phrases, wherever used in this article, shall, in the absence of clear implication herein otherwise, have the following respective meanings: ...
- Section 2-6-51 Lease authorized
The Agricultural Center Board is hereby authorized and empowered to enter into an agreement with the corporation under which agreement all or any part ...
- Section 2-6-52 Lease authorized - Operation of leased properties
Upon securing possession of the properties covered by the lease agreement, the board is authorized to and shall thereafter operate, manage and control the ...
- Section 2-6-53 Lease authorized - Agricultural Center Fund; appropriations for rentals and expenses
The charges made by the board pursuant to Section 2-6-51 shall be deposited monthly in the State Treasury to the credit of a special ...
- Section 2-6-54 Lease authorized - Lease not to constitute debt of state; payment of rentals
The lease agreement shall never in any event constitute or give rise to an indebtedness of the State of Alabama and no recourse shall ...
- Article 4 Alabama Agricultural Markets and Coliseum Corporation.
- Section 2-6-70 Definitions
As used in this article, the following words shall have the following meanings unless the context clearly requires otherwise: (1) AGRICULTURAL CENTER BOARD. The ...
- Section 2-6-71 Declaration of purpose and legislative findings
The Legislature has found and determined and does hereby declare that in certain areas of this state, there are inadequate market facilities available to ...
- Section 2-6-72 Authority and procedure for incorporation
The Governor, the Commissioner of Agriculture and Industries and the Director of Finance may incorporate and organize a public corporation with the powers and ...
- Section 2-6-73 Certificate of incorporation; fees
When the application has been made, filed and recorded as provided in this article, the applicants shall constitute a corporation under the name proposed ...
- Section 2-6-74 Board of directors; officers; quorum; compensation; record of proceedings
The powers of the corporation shall be vested in a board of directors consisting of the persons at any time holding the offices of ...
- Section 2-6-75 Powers of corporation - Generally
The corporation shall have the following powers, together with all powers incidental thereto or necessary or convenient to the discharge thereof in corporate form: ...
- Section 2-6-76 Powers of corporation - Issuance and sale of securities
(a) The corporation is authorized to issue and sell its interest-bearing or noninterest-bearing securities, in one or more series, not exceeding $6,000,000.00, in aggregate ...
- Section 2-6-77 Powers of corporation - Execution of securities
All securities of the corporation shall be signed by its president or vice-president, and the seal of the corporation shall be affixed thereto and ...
- Section 2-6-78 Disposition of proceeds from sale of securities
All proceeds derived from the sale of any securities of the corporation, other than refunding securities, shall be deposited in the State Treasury and ...
- Section 2-6-79 Construction of market facility
The Board of Agriculture and Industries shall proceed with the acquisition, construction and equipping of the market facility as soon as may be practicable ...
- Section 2-6-80 Renovation of coliseum
The Agricultural Center Board shall proceed with the renovation and repair of the coliseum as soon as may be practical following the sale of ...
- Section 2-6-81 Refunding securities
Any securities issued by the corporation may from time to time thereafter be refunded by the issuance of refunding securities of the corporation, but ...
- Section 2-6-82 State Treasurer to pay principal and interest
The State Treasurer is authorized and directed to pay the principal of, premium, if any, and interest on the securities of the corporation as ...
- Section 2-6-83 Notice of resolution regarding issuance of securities; limitation of actions to contest validity of securities; venue of actions under article
Upon the adoption by the board of directors of the corporation of any resolution providing for the issuance of securities under the provisions of ...
- Section 2-6-84 Securities as legal investments
Securities issued by the corporation under the provisions of this article shall be legal investments for fiduciaries investing trust funds and for investments by ...
- Section 2-6-85 Exemption of securities from taxation
All securities issued by the corporation and any redemption premium and any interest thereon, the properties of the corporation and any income realized from ...
- Section 2-6-86 Dissolution of corporation
When all securities issued by the corporation and all obligations incurred by it under the provisions of, and within the limitations contained in this ...
