Article 11 - Alabama Mental Health Finance Authority.

Article 11 - Alabama Mental Health Finance Authority.

Section 41-10-350 - Legislative findings and purpose.
Section 41-10-351 - Definitions.
Section 41-10-352 - Authority for incorporation of Alabama Mental Health Finance Authority; members.
Section 41-10-353 - Application for authority to incorporate.
Section 41-10-354 - Certificate of incorporation; no fee or compensation to Secretary of State.
Section 41-10-355 - Members of authority; officers; payment of bonds of authority; quorum; vacancies; compensation; record of proceedings and use thereof as evidence; meetings.
Section 41-10-356 - Powers of authority.
Section 41-10-357 - Authorization to issue bonds; limitation on use of proceeds.
Section 41-10-358 - Form, terms, denominations, etc., of bonds; limitation on maturity date, redemption.
Section 41-10-359 - Execution and delivery of bonds; designation of bonds for community facilities.
Section 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.
Section 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.
Section 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.
Section 41-10-363 - Refunding bonds; proceeds of sale of refunding bonds.
Section 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 remaining.
Section 41-10-365 - Sinking fund for payment of principal and interest on bonds of authority.
Section 41-10-366 - Contracts, etc., do not create obligations of state.
Section 41-10-367 - Investment of surplus proceeds from sale of bonds; disbursement of income derived from such investments.
Section 41-10-368 - Authority is nonprofit corporation.
Section 41-10-369 - Dissolution of authority; disposition of property upon dissolution of authority.
Section 41-10-370 - Payment of principal and interest on bonds and maintenance of records pertaining thereto by State Treasurer.
Section 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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