Chapter 1 - Alabama Forensic Sciences Bond Authority
- Section 16-18B-1 Legislative findings
The Legislature hereby finds and declares that it is necessary, desirable, and in the public interest that the state provide adequate forensic sciences laboratories ...
- Section 16-18B-2 Definitions
Where used in this article the following words and terms shall be given the following respective meanings unless the context hereof clearly indicates otherwise: ...
- Section 16-18B-3 Authorization and procedure for incorporations; application
The Governor, the Lieutenant Governor, the Speaker of the House of Representatives, the State Treasurer, and the Director of Finance of the state may ...
- Section 16-18B-4 Certificate of incorporation
When the application has been made, filed and recorded, as herein provided, the applicants shall constitute a public corporation under the name proposed in ...
- Section 16-18B-5 Members; officers; quorum; vacancies; salaries; record of proceedings
The applicants named in the application and their respective successors in office shall constitute the members of the corporation. The Governor shall be the ...
- Section 16-18B-6 Powers of authority
The corporation shall have the following powers: (1) To have succession by its corporate name without time limit; (2) To sue and be sued ...
- Section 16-18B-7 Bonds - Issuance and sale
The bonds issued pursuant to this article shall not be obligations of said corporation but shall be general obligations of the state with the ...
- Section 16-18B-8 Bonds - Payment of principal, premium, and interest; records
The State Treasurer is authorized and directed to pay the principal of, premium, if any, and interest on the bonds issued under the provisions ...
- Section 16-18B-9 Bonds - Redemption
The bonds of each series issued pursuant to this article may be issued as serial bonds payable in annual installments or as term bonds ...
- Section 16-18B-10 Bonds - Execution; facsimiles; validity
The bonds of each series thereof issued pursuant to this article shall be sold by said corporation at public sale as provided in the ...
- Section 16-18B-11 Alabama Forensic Sciences Bond Fund
The proceeds derived from the sale of each series of the bonds issued pursuant to this article other than refunding bonds shall be paid ...
- Section 16-18B-12 Use of proceeds from bonds
Upon order of the board of directors of the corporation, all expenses incurred in connection with the authorization, preparation, sale, and issuance of bonds ...
- Section 16-18B-13 Refunding bonds
Pursuant to the provisions of the aforesaid amendment and this article, the corporation may, at any time and from time to time, issue for ...
- Section 16-18B-14 Exemption from taxes; use of bonds as security; investment of funds
All bonds (including refunding bonds) issued pursuant hereto, and the income therefrom (including the interest income thereon) shall be free from all taxation by ...
- Section 16-18B-15 Contracts to be in writing
All contracts for the acquisition, provision, construction, improvement, renovation, equipping and maintenance of forensic sciences laboratories and educational facilities for the provision of instruction ...
- Section 16-18B-16 Appropriation and allocation of funds
There is hereby appropriated so much of the bond proceeds and interest income thereon as may be necessary for the acquisition, provision, construction, improvement, ...
- Section 16-18B-17 Dissolution of corporation
At any time when no bonds of the corporation are outstanding the corporation may be dissolved upon the filing with the Secretary of State ...
- Section 16-18B-18 Diversity of corporation
The Alabama Forensic Sciences Bond Authority shall, to the extent possible and practical, utilize businesses and companies in all aspects of the bond and ...
- Section 16-18B-19 Exemption from federal income taxation
The corporation on behalf of the state shall have the power to provide for such payments to the United States of America as the ...
