§ 41-10-350 Legislative findings and purpose
§ 41-10-351 Definitions
§ 41-10-352 Authority for incorporation of Alabama Mental Health Finance Authority; members
§ 41-10-353 Application for authority to incorporate
§ 41-10-354 Certificate of incorporation; no fee or compensation to Secretary of State
§ 41-10-355 Members of authority; officers; payment of bonds of authority; quorum; vacancies; compensation; record of proceedings and use thereof as evidence; meetings
§ 41-10-356 Powers of authority
§ 41-10-357 Authorization to issue bonds; limitation on use of proceeds
§ 41-10-358 Form, terms, denominations, etc., of bonds; limitation on maturity date, redemption
§ 41-10-359 Execution and delivery of bonds; designation of bonds for community facilities
§ 41-10-360 Sale of bonds at public auction; rejection of bids; notice of sale; terms and conditions of sale; expenses, fees, etc.; recital that bonds issued pursuant to article
§ 41-10-361 Liability upon bonds of authority; authorization of authority to pledge for payment of principal and interest of bonds; bonds deemed negotiable instruments
§ 41-10-362 Exemption from taxation of bonds and income of authority; use of bonds as security for deposits of state funds; investment of trust funds in bonds
§ 41-10-363 Refunding bonds; proceeds of sale of refunding bonds
§ 41-10-364 Proceeds of bonds, other than refunding bonds; special fund to pay costs of acquisition, construction, etc., of mental health facilities; such work supervised by Building Commission; such work subject to competitive bidding; disposition of moneys remainin
§ 41-10-365 Sinking fund for payment of principal and interest on bonds of authority
§ 41-10-366 Contracts, etc., do not create obligations of state
§ 41-10-367 Investment of surplus proceeds from sale of bonds; disbursement of income derived from such investments
§ 41-10-368 Authority is nonprofit corporation
§ 41-10-369 Dissolution of authority; disposition of property upon dissolution of authority
§ 41-10-370 Payment of principal and interest on bonds and maintenance of records pertaining thereto by State Treasurer
§ 41-10-371 Power of authority to pay and make agreements with the United States to exempt interest of bonds from federal income tax
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Terms Used In Alabama Code > Title 41 > Chapter 10 > Article 11 - Alabama Mental Health Finance Authority

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Devise: To gift property by will.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Executor: A male person named in a will to carry out the decedent
  • Fiduciary: A trustee, executor, or administrator.
  • following: means next after. See Alabama Code 1-1-1
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • person: includes a corporation as well as a natural person. See Alabama Code 1-1-1
  • property: includes both real and personal property. See Alabama Code 1-1-1
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Quorum: The number of legislators that must be present to do business.
  • state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
  • Trustee: A person or institution holding and administering property in trust.
  • United States: includes the territories thereof and the District of Columbia. See Alabama Code 1-1-1
  • writing: includes typewriting and printing on paper. See Alabama Code 1-1-1