Alabama § 11-54-187 Freedom of Authority from State Supervision and Control

Alabama Statutes

§ 11-54-187 — Freedom of Authority from State Supervision and Control

Alabama·Title 11 Counties and Municipal Corporations·Ch. 54 Promotion of Industry, Trade, Commerce and Pollution Control·Art. 6 Commercial Development Authorities

This article is intended to aid the state through the furtherance of the purposes of the article by providing appropriate and independent instrumentalities of the state with full and adequate powers to fulfill their functions. Except as expressly provided in this article, no proceeding, notice, or approval shall be required for the incorporation of any authority or the amendment of its certificate of incorporation, the issuance of any bonds, the execution of any mortgage and deed of trust or trust indenture, or the exercise of any other of its powers by an authority. Neither a public hearing nor the consent of the State Department of Finance shall be prerequisite to the issuance of bonds by an authority.

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This article is intended to aid the state through the furtherance of the purposes of the article by providing appropriate and independent instrumentalities of the state with full and adequate powers to fulfill their functions. Except as expressly provided in this article, no proceeding, notice, or approval shall be required for the incorporation of any authority or the amendment of its certificate of incorporation, the issuance of any bonds, the execution of any mortgage and deed of trust or trust indenture, or the exercise of any other of its powers by an authority. Neither a public hearing nor the consent of the State Department of Finance shall be prerequisite to the issuance of bonds by an authority.

Alabama § 11-54-187 (Freedom of Authority from State Supervision and Control) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.