ALABAMA CONSTITUTION
ARTICLE XI
TAXATION
§211 | PROPERTY TAXES TO BE ASSESSED IN EXACT PROPORTION TO VALUE OF PROPERTY
§211.01 | INCOME TAXES
§211.02 | DISPOSITION OF INCOME TAX; EXEMPTION OF HOMESTEADS FROM STATE AD VALOREM TAX
Section A.
The entire proceeds of the income tax in the treasury of the state of Alabama on September 30, 1947, including cash and investments and the interest thereon, shall be used for the following purposes and in the following manner: 1st. The sum of $12,249,860.00 shall be and is hereby set aside and shall be and is hereby constituted an irrevocable trust fund for the purpose of paying the principal of and interest on the bonds issued by the state of Alabama commonly known as “income tax bonds,” being the warrant refunding bonds issued to fund the floating debt existing October 1, 1932, which bonds were issued under the authority of Act No. 14 approved February 5, 1935 [Acts 1935, p. 27], and Act No. 50 approved February 8, 1935 [Acts 1935, p. 118]. 2nd. An amount (approximately $6,700,000.00) which, when added to the sinking fund (approximately $1,857,000.00) heretofore created to pay the bonds issued by the state of Alabama, commonly known as the “old bonded debt” and as “carpet bag bonds” together with the interest on said sinking fund accrued on September 30, 1947, shall equal the principal of said bonds in the sum of $8,557,000.00, shall be and is hereby set aside, and together with said sinking fund and the interest thereon, shall be and is hereby constituted an irrevocable trust fund for the purpose of paying the principal of said bonds upon their maturity, said bonds being the class A renewal bonds, class C renewal bonds and funding renewal bonds. That both of the irrevocable trust funds herein created shall be invested in United States government securities by the treasurer of the state of Alabama with the approval of the governor. 3rd. The residue shall be paid over to the building commission created by Act 128 of 1945 General Acts [p. 116] to be expended by said building commission for capital outlay only for educational purposes, provided, however, that not more than twelve per centum of such amount shall be allocated to the institutions of higher learning including the state teachers colleges, and not less than eighty-eight per centum shall be allocated to county and city boards of education on an actual teacher unit basis in accordance with the minimum school program.Section B.
Beginning October 1, 1947, and thereafter, all net proceeds of such tax, plus the earnings from investment of the trust funds, must be used only in the manner and in the order following: (1) To replace the revenue lost to the several funds of the state by reason of the exemption of homesteads from the state ad valorem tax. All homesteads in Alabama are hereby declared to be exempt from all state ad valorem tax to the extent of at least $2,000.00 in assessed value and a sufficient amount is hereby appropriated from the proceeds of the income tax in each fiscal year to replace the revenue lost to the several funds of the state by reason of the homestead exemption herein declared; (2) The residue shall be placed in the state treasury to the credit of the Alabama special education trust fund to be used for the payment of public school teachers salaries only.Section C.
This amendment supersedes the provisions of amendment XXV [25] (article XXII) [Article XI, § 211.01] relating to the disposition of the income tax proceeds insofar as the same are in conflict herewith. All laws relating to the income tax, not in conflict herewith and valid on the date of the ratification of this amendment, are hereby validated and confirmed. The provisions hereof with respect to the creation of funds and the use thereof are declared to be self-executing.§211.03 | STATE TAX ON NET INCOME OF CORPORATIONS
§211.04 | DEDUCTION OF FEDERAL INCOME TAX FROM GROSS INCOME WHEN COMPUTING STATE INCOME TAX
§212 | POWER TO LEVY TAXES NOT TO BE DELEGATED
§213 | CREATION OF STATE DEBT AFTER RATIFICATION OF CONSTITUTION; TEMPORARY LOANS; REFUNDING BONDS FOR EXISTING INDEBTEDNESS; PAYMENT OF INTEREST ON CERTAIN OUTSTANDING AND UNPAID STATE WARRANTS; SINKING FUND FOR PAYMENT OF FLOATING INDEBTEDNESS; WARRANTS NOT TO BE DRAWN ON STATE TREASURY UNLESS MONEY AVAILABLE FOR PAYMENT; UNPAID APPROPRIATIONS FOR WHICH MONEY UNAVAILABLE AT END OF FISCAL YEAR
§213.01 | STATE WORKS OF INTERNAL IMPROVEMENT ALONG NAVIGABLE WATERWAYS AND INDEBTEDNESS THEREFOR
§213.02 | BONDS FOR STATE DOCKS FACILITIES
The proceeds from the sale of any such bonds shall, after payment of the reasonable and necessary expenses of their issuance, be set aside in a special fund in the state treasury and shall be paid out of the Alabama state docks department upon authorization by the governor and shall be held by the said department in a special trust fund designated “state docks bond fund” and therefrom be disbursed as follows:
Alabama state docks department is hereby vested with full authority, except as limited herein, to prescribe the terms of the bonds and to provide for the issuance and sale thereof. The bonds may be sold, executed and delivered at any time and from time to time, may be in such forms, denominations, series and numbers, may be of such tenor and maturities, may bear such date or dates, may be in registered or bearer form either as to principal or interest or both, with rights of conversion into another form, may be payable in such installments and at such place or places, may bear interest at such rate or rates, payable and evidenced in such manner, and may contain provisions for redemption at the option of the state to be exercised by the state docks department at such date or dates prior to their maturity and upon payment of such redemption price or prices, all as shall be provided by the said department in the order or orders under which the bonds are issued. The principal of each series of bonds shall mature in annual installments in such amounts as shall be specified in the authorizing order or orders, the first of which installments shall mature not later than one year after the date of the bonds of such series and the last of which installments shall mature not later than twenty years after the date of the bonds of the same series. The largest installment of principal and interest maturing on each series of the bonds in any one year shall not exceed twice the preceding smallest installment of principal and interest maturing thereon in any prior year. None of the bonds shall be sold for less than face value plus accrued interest thereon to the date of delivery. The bonds shall be sold only at public sale or sales, either on sealed bids or at auction, after such advertisement as may be prescribed by the said department to the bidder whose bid reflects the lowest net interest cost to the state computed to the respective maturities of the bonds sold; provided, that if no bid deemed acceptable by the said department is received all bids may be rejected.
The bonds shall be signed in the name of the state by the governor and countersigned by the state docks director, and the great seal of the state of Alabama or a facsimile thereof shall be impressed, printed or otherwise reproduced thereon and shall be attested by the signature of the secretary of state; provided, that facsimile signatures of any one or any two (but not all) of said officers may be reproduced on any of such bonds in lieu of being manually signed thereon. Coupons attached to the bonds and representing installments of interest thereon shall be signed with the facsimile signature of the state treasurer, which facsimile signature shall constitute due and sufficient authentication of said coupons.
All bonds issued under the provisions of this amendment, together with the interest income thereon, shall forever be exempt from taxation in this state.
The authorization to incur debt and issue bonds contained in this amendment shall supersede and take the place of any authorization for Alabama state docks department to issue revenue bonds granted by act of the legislature on the effective date of this amendment.
The provisions of this amendment shall be self-executing and authorization from or other action by the legislature shall not be a prerequisite to the issuance of bonds hereunder.
(b) Not exceeding $7,000,000 may be used to refund and provide for the retirement of all or such part of the outstanding revenue bonds heretofore issued by said department as the director thereof, with the approval of the governor, shall deem advantageous, including payment of any redemption premiums required under the terms of said outstanding bonds to be paid in order to effect redemption thereof prior to their maturities; provided, that pending any redemption date or dates on which the outstanding bonds so refunded can be redeemed under their terms, any part of said $7,000,000 and any other funds of the said department may be invested in securities that are direct obligations of the United States of America, and such securities may be deposited by said department under irrevocable trust agreements, which said department is hereby authorized to enter into with any corporate trustee, and used to pay principal, interest and redemption premiums on said outstanding bonds.
§213.03 | BONDS FOR STATE DOCKS FACILITIES
The Alabama state docks department is hereby vested with full authority, subject to the provisions of the bond order relating to the sale of $10,000,000 principal amount of general obligation seaport facilities bonds of the state of Alabama dated March 1, 1964, and except as limited herein, to prescribe the terms of the bonds and to provide for the issuance and sale thereof. The bonds may be sold, executed and delivered at any time and from time to time, may be in such forms, denominations, series and numbers, may be of such tenor and maturities, may bear such date or dates, may be in registered or bearer form either as to principal or interest or both, with rights of conversion into another form, may be payable in such installments and at such place or places, may bear interest at such rate or rates, payable and evidenced in such manner, and may contain provisions for redemption at the option of the state to be exercised by the state docks department at such date or dates prior to their maturity and upon payment of such redemption price or prices, all as shall be provided by the said department in the order or orders under which the bonds are issued. The principal of each series of bonds shall mature in annual installments in such amount as shall be specified in the authorizing order or orders, the first of which installments shall mature not later than one year after the date of the bonds of such series and the last of which installments shall mature not later than twenty years after the date of the bonds of the same series. The largest installment of principal and interest maturing on each series of the bonds in any one year shall not exceed twice the preceding smallest installment of principal and interest maturing thereon in any prior year. None of the bonds shall be sold for less than face value plus accrued interest thereon to the date of delivery. The bonds shall be sold only at public sale or sales, either on sealed bids or at auction, after such advertisement as may be prescribed by the said department to the bidder whose bid reflects the lowest net interest cost to the state computed to the respective maturities of the bonds sold; provided, that if no bid deemed acceptable by the said department is received all bids may be rejected.
The bonds shall be signed in the name of the state by the governor and countersigned by the state docks director, and the great seal of the state of Alabama or a facsimile thereof shall be impressed, printed or otherwise reproduced thereon and shall be attested by the signature of the secretary of state; provided, that facsimile signatures of any one or any two (but not all) of said officers may be reproduced on any of such bonds in lieu of being manually signed thereon. Coupons attached to the bonds and representing installments of interest thereon shall be signed with the facsimile signature of the state treasurer, which facsimile signature shall constitute due and sufficient authentication of said coupons.
All bonds issued under the provisions of this amendment, together with the interest income thereon, shall forever be exempt from taxation in this state.
The authorization to incur debt and issue bonds contained in this amendment shall supersede and take the place of any authorization for Alabama state docks department to issue revenue bonds granted by act of the legislature in effect on the effective date of this amendment.
The provisions of this amendment shall be self-executing and authorization from or other action by the legislature shall not be a prerequisite to the issuance of bonds hereunder.
§213.04 | NAVIGABLE WATERWAY BETWEEN DEMOPOLIS AND TENNESSEE RIVER AND FLOOD CONTROL PROJECTS ON TRIBUTARY STREAMS OF TOMBIGBEE RIVER
The legislature may by appropriate laws authorize the state to become indebted and, in evidence of such indebtedness, to sell and issue its interest-bearing bonds, in an aggregate principal amount not exceeding $10,000,000, for the purpose of enabling the state to discharge obligations at any time authorized by the legislature to be undertaken in connection with the waterway and the flood control project; provided, that the expenses incurred in connection with the sale and issuance of the bonds may also be paid from the proceeds thereof. Bonds evidencing the herein provided for indebtedness may be issued as direct general obligations of the state, and the state may pledge its full faith and credit to the prompt payment of the principal of the bonds and the interest thereon. The herein provided for indebtedness shall not be construed to prohibit or limit appropriations from the general fund of the state which from time to time may be made for the purpose of enabling the state to discharge obligations at any time authorized by the legislature to be undertaken in connection with the waterway and the flood control projects.
The legislature may by appropriate laws establish a public corporation and may confer upon it, in addition to all other necessary powers, full power to undertake the obligations that the state is permitted under the foregoing provisions of this amendment to undertake in connection with the waterway and the flood control projects. The legislature may from time to time appropriate money from the general fund of the state to be expended by such public corporation and may also authorize the herein provided for general obligation bonds of the state to be sold from time to time under the supervision of such public corporation; provided, that all moneys received by such public corporation from the state, whether as appropriations from the state's general fund or as proceeds of the sale of the state's bonds, shall be expended, except for reasonable administrative expenses, in discharging obligations that the state is permitted under the foregoing provisions of this amendment to undertake in connection with the waterway and the flood control projects and shall have directed such public corporation to undertake in its stead.
§213.05 | BONDS FOR STATE DOCKS FACILITIES
The Alabama state docks department (which term as used herein shall be construed to include any other agency of the state that may succeed to said department's functions) shall, subject to the provisions of the bond order relating to the sale of $10,000,000 principal amount of general obligation seaport facilities bonds of the state of Alabama dated March 1, 1964, pledge and use so much of the revenues derived from its seaport facilities as may be necessary to pay at their maturities the principal of and interest on the bonds herein authorized, and may pledge, agree to use, and use so much of said revenues as the said department with the approval of the governor may determine shall be necessary or desirable to build up and maintain reserves for the payment of said principal and interest and for the maintenance, replacement and improvement of its seaport facilities. The proceeds from the sale of any such bonds shall, after payment of the reasonable and necessary expense of their issuance, be set aside in a special fund in the state treasury and shall be paid out to the Alabama state docks department upon authorization by the governor and shall be held by the said department in a special trust fund designated “Alabama state docks capital extension bond fund” and therefrom be disbursed to pay the reasonable and necessary costs of constructing, dredging of approaches thereto and equipment of works of internal improvement for use and operation as a part of additional state docks facilities; provided that, if said department shall have issued any notes in anticipation of the sale of bonds for any of said purposes, then so much as may be necessary, not exceeding $2,000,000, shall be used to retire or fund said notes.
The Alabama state docks department is hereby vested with full authority, subject to the provisions of the bond order relating to the sale of $10,000,000 principal amount of general obligation seaport facilities bonds of the state of Alabama dated March 1, 1964, and except as limited herein, to prescribe the terms of the bonds and to provide for the issuance and sale thereof. The bonds may be sold, executed and delivered at any time and from time to time, may be in such forms, denominations, series and numbers, may be of such tenor and maturities, may bear such date or dates, may be in registered or bearer form either as to principal or interest or both, with rights of conversion into another form, may be payable in such installments and at such place or places, may bear interest at such rate or rates, payable and evidenced in such manner, and may contain provisions for redemption at the option of the state to be exercised by the state docks department at such date or dates prior to their maturity and upon payment of such redemption price or prices, all as shall be provided by the said department in the order or orders under which the bonds are issued. The principal of each series of bonds shall mature in annual installments in such amount as shall be specified in the authorizing order or orders, the first of which installments shall mature not later than one year after the date of the bonds of such series and the last of which installments shall mature not later than twenty years after the date of the bonds of the same series. The largest installment of principal and interest maturing on each series of the bonds in any one year shall not exceed twice the preceding smallest installment of principal and interest maturing thereon in any prior year. None of the bonds shall be sold for less than face value plus accrued interest thereon to the date of delivery. The bonds shall be sold only at public sale or sales, either on sealed bids or at auction, after such advertisement as may be prescribed by the said department to the bidder whose bid reflects the lowest net interest cost to the state computed to the respective maturities of the bonds sold; provided, that if no bid deemed acceptable by the said department is received all bids may be rejected.
The bonds shall be signed in the name of the state by the governor and countersigned by the state docks director, and the great seal of the state of Alabama or a facsimile thereof shall be impressed, printed or otherwise reproduced thereon and shall be attested by the signature of the secretary of state; provided, that facsimile signatures of any one or any two (but not all) of said officers may be reproduced on any of such bonds in lieu of being manually signed thereon. Coupons attached to the bonds and representing installments of interest thereon shall be signed with the facsimile signature of the state treasurer, which facsimile signature shall constitute due and sufficient authentication of said coupons.
All bonds issued under the provisions of this amendment, together with the interest income thereon, shall forever be exempt from taxation in this state.
The authorization to incur debt and issue bonds contained in this amendment shall supersede and take the place of any authorization for Alabama state docks department to issue revenue bonds granted by act of the legislature in effect on the effective date of this amendment.
The provisions of this amendment shall be self-executing and authorization from or other action by the legislature shall not be a prerequisite to the issuance of bonds hereunder.
§213.06 | WORKS OF INTERNAL IMPROVEMENT ALONG NAVIGABLE WATERWAYS
§213.07 | BONDS FOR THEODORE SHIP CHANNEL PROJECT IN MOBILE HARBOR
The Alabama state docks department (which term as used herein shall be construed to include any other agency of the state that may succeed to said department's functions) shall, subject to the provisions of the bond order relating to the sale of the $10,000,000 principal amount of general obligation seaport facilities bonds of the state of Alabama dated March 1, 1964, pledge and use so much of the revenues derived from its seaport facilities as may be necessary to pay at their maturities the principal of and interest on said bonds, and may pledge, agree to use, and use so much of said revenues as the said department with the approval of the governor may determine shall be necessary or desirable to build up and maintain reserves for the payment of said principal and interest for the maintenance, replacement and improvement of its seaport facilities. The proceeds from the sale of any such bonds shall, after payment of the reasonable and necessary expense of their issuance, be set aside in a special fund in the state treasury and shall be paid out to the Alabama state docks department upon authorization by the governor and shall be held by the said department in a special trust fund and therefrom disbursed to pay the reasonable and necessary costs required of the Alabama state docks as the local sponsoring agency for the improvement in Mobile harbor, Alabama, known as the Theodore ship channel project or to pay the reasonable and necessary costs of constructing, dredging of approaches thereto and equipment of works of internal improvement for use and operation as a part of additional state docks facilities; provided that, if said department shall have issued any notes in anticipation of the sale of bonds for any of said purposes, then so much as may be necessary, not exceeding $2,000,000, shall be used to retire or fund said notes.
The Alabama state docks department is hereby vested with full authority, subject to the provisions of the bond order relating to the sale of $10,000,000 principal amount of general obligation seaport facilities bonds of the state of Alabama dated March 1, 1964, and except as limited herein, to prescribe the terms of the bonds and to provide for the issuance and sale thereof. The bonds may be sold, executed and delivered at any time and from time to time, may be in such forms, denominations, series and numbers, may be of such tenor and maturities, may bear such date or dates, may be in registered or bearer form either as to principal or interest or both, with rights of conversion into another form, may be payable in such installments and at such place or places, may bear interest at such rate or rates, payable and evidenced in such manner, and may contain provisions for redemption at the option of the state to be exercised by the state docks department at such date or dates prior to their maturity and upon payment of such redemption price or prices, all as shall be provided by the said department in the order or orders under which the bonds are issued. The principal of each series of bonds shall mature in annual installments in such amount as shall be specified in the authorizing order or orders, the first of which installments shall mature not later than one year after the date of the bonds of such series and the last of which installments shall mature not later than twenty years after the date of the bonds of the same series. The largest installment of principal and interest maturing on each series of the bonds in any one year shall not exceed twice the preceding smallest installment of principal and interest maturing thereon in any prior year. None of the bonds shall be sold for less than face value plus accrued interest thereon to the date of delivery. The bonds shall be sold only at public sale or sales, either on sealed bids or at auction, after such advertisement as may be prescribed by the said department to the bidder whose bid reflects the lowest net interest cost to the state computed to the respective maturities of the bonds sold; provided, that if no bid deemed acceptable by the said department is received all bids may be rejected.
The bonds shall be signed in the name of the state by the governor and countersigned by the state docks director, and the great seal of the state of Alabama or a facsimile thereof shall be impressed, printed or otherwise reproduced thereon and shall be attested by the signature of the secretary of state; provided, that facsimile signatures of any one or any two (but not all) of said officers may be reproduced on any of such bonds in lieu of being manually signed thereon. Coupons attached to the bonds and representing installments of interest thereon shall be signed with the facsimile signature of the state treasurer, which facsimile signature shall constitute due and sufficient authentication of said coupons.
All bonds issued under the provisions of this amendment, together with the interest income thereon, shall forever be exempt from taxation in this state.
The authorization to incur debt and issue bonds contained in this amendment shall supersede and take the place of any authorization for Alabama state docks department to issue revenue bonds granted by act of the legislature in effect on the effective date of this amendment.
The provisions of this amendment shall be self-executing and authorization from or other action by the legislature shall not be a prerequisite to the issuance of bonds hereunder.
§213.08 | NAVIGABLE WATERWAY BETWEEN MONTGOMERY AND GADSDEN AND TO THE ALABAMA-GEORGIA BOUNDARY
The legislature may by appropriate laws authorize the state to become indebted, and in evidence of such indebtedness, to sell and issue its interest-bearing bonds, in an aggregate principal amount not exceeding $10,000,000, for the purpose of enabling the state to discharge obligations at any time authorized by the legislature to be undertaken in connection with the waterway project; provided, that the expenses incurred in connection with the sale and issuance of the bonds may also be paid from the proceeds thereof. Bonds evidencing the herein provided for indebtedness may be issued as direct general obligations of the state, and the state may pledge its full faith and credit to the prompt payment of the principal of the bonds and the interest thereon. The herein provided for indebtedness shall not be construed to prohibit or limit appropriations from the general fund of the state which from time to time may be made for the purpose of enabling the state to discharge obligations at any time authorized by the legislature to be undertaken in connection with the waterway project.
The legislature may by appropriate laws establish a public corporation and may confer upon it, in addition to all other necessary powers, full power to undertake the obligations that the state is permitted under the foregoing provisions of this amendment to undertake in connection with the waterway project. The legislature may from time to time appropriate money from the general fund of the state to be expended by such public corporation and may also authorize the herein provided for general obligation bonds of the state to be sold from time to time under the supervision of such public corporation; provided, that all moneys received by such public corporation from the state, whether as appropriations from the state's general fund or as proceeds of the sale of the state's bonds, shall be expended, except for reasonable administrative expenses, in discharging obligations that the state is permitted under the foregoing provisions of this amendment to undertake in connection with the waterway project, and shall have directed such public corporation to undertake in its stead.
Nothing herein shall authorize the legislature to establish any such public corporation to acquire by purchase, license, lease, condemnation or otherwise a hydroelectric project (or any part thereof) heretofore or hereafter licensed by the federal power commission under the Federal Power Act of June 10, 1920, Public Law No. 280, 66th Congress, 2nd Session, and amendments thereto, or any such project.
§213.09 | WORKS OF INTERNAL IMPROVEMENT ALONG NAVIGABLE WATERWAYS
§213.10 | DEVELOPMENT, IMPROVEMENT, ETC., OF STATE DOCKS FACILITIES AT PORT OF MOBILE
The legislature may by appropriate laws authorize the state to become indebted and, in evidence of such indebtedness, to sell and issue its interest bearing general obligation bonds, in an aggregate principal amount not exceeding forty-five million dollars ($45,000,000), for the purpose of paying costs of the development, construction, improvement, expansion and modernization of the state docks facilities at the Port of Mobile, as the said facilities may at any time exist. The full faith, credit, and taxing powers of the state are hereby pledged to the prompt and faithful payment at their respective maturities of the principal of and interest on the bonds. The said bonds may be additionally secured by any special pledges that may be provided for by the legislature.
The legislature may, by appropriate laws, provide for the organization of a public corporation with power to act for the state in the authorization, sale, issuance and approval of disbursement of proceeds of the said bonds and any bonds that may hereafter be issued for the purpose of refunding them. The said public corporation shall consist of the governor, the director of finance, one member of the senate, appointed by the president of the senate, one member of the house of representatives, appointed by the speaker and the director of the state docks department, each of whom shall be members of its board of directors.
The legislature shall implement the provisions of this amendment by appropriate legislation.
§213.11 | BONDS, ETC., FOR NAVIGABLE WATERWAY BETWEEN DEMOPOLIS AND TENNESSEE RIVER AND TOMBIGBEE VALLEY PROJECTS
The legislature may by appropriate laws authorize the state to become indebted and, in evidence of such indebtedness, to sell and issue its interest-bearing bonds, in an aggregate principal amount not exceeding $25,000,000, for the purpose of enabling the state to discharge obligations at any time authorized by the legislature to be undertaken in connection with the waterway and the projects; provided, that the expenses incurred in connection with the sale and issuance of the bonds may also be paid from the proceeds thereof. Bonds evidencing the herein provided for indebtedness may be issued as direct general obligations of the state, and the state may pledge its full faith and credit to the prompt payment of the principal of the bonds and the interest thereon. The herein provided for indebtedness shall not be construed to prohibit or limit appropriations from the general fund of the state which from time to time may be made for the purpose of enabling the state to discharge obligations at any time authorized by the legislature to be undertaken in connection with the waterway and the projects.
The legislature may from time to time appropriate money from the general fund of the state to be expended by the Tombigbee valley development authority, a public corporation and agency of the state, and may also authorize the herein provided for general obligation bonds of the state to be sold from time to time under the supervision of said authority; provided, that all moneys received by said authority from the state, whether as appropriations from the state's general fund or as proceeds of the sale of the state's bonds, shall be expended, except for reasonable administrative expenses to be paid from said appropriations and expenses of the sale of said bonds to be paid from said bond proceeds, in discharging obligations that the state is permitted under the foregoing provisions of this amendment to undertake in connection with the waterway and the projects and shall have directed said authority to undertake in its stead. The bonds authorized by this amendment shall be in addition to those authorized by that amendment to said constitution proposed by Act No. 248 adopted at the 1967 regular session of the legislature and ratified by the electors of the state on December 5, 1967.
§213.12 | BONDS OF ALABAMA STATE DOCKS DEPARTMENT NOT DEBT OF STATE
§213.13 | DEEPENING, WIDENING AND EXTENDING OF FEDERAL CHANNEL AT BAYOU LA BATRE AND ACQUISITION, DEVELOPMENT, ETC., OF CARGO HANDLING FACILITIES OF STATE DOCKS AT PORT OF MOBILE
The legislature may by appropriate laws authorize the state to become indebted and, in evidence of such indebtedness, to sell and issue its interest-bearing bonds, in an aggregate principal amount not exceeding $20,000,000, for the purpose of enabling the state to discharge obligations at any time authorized by the legislature to be undertaken in connection with the channel deepening project and the state docks projects. The expenses incurred in connection with the sale and issuance of the bonds may also be paid from the proceeds thereof. The bonds may be sold by the bond commission authorized herein at public or private sale, with or without competitive bidding, at such price or prices and on such terms and conditions as the bond commission shall determine to be in the best interest of the state. Bonds evidencing the herein provided for indebtedness may be issued as direct general obligations of the state, and the state may pledge its full faith and credit to the prompt payment of the principal of the bonds and the interest and redemption premium (if any) thereon. The said bonds may be additionally secured by any special pledges that may be provided for by the legislature. The herein provided for indebtedness shall not be construed to prohibit or limit appropriations from the general fund of the state which from time to time may be made for the purpose of enabling the state to discharge obligations at any time authorized by the legislature to be undertaken in connection with the channel deepening project and the state docks projects.
The legislature may by appropriate laws establish a bond commission and may confer upon it, in addition to all other necessary powers, full power to determine the terms and conditions of the bonds and to provide for the sale and issuance thereof. The legislature may authorize the herein provided for general obligation bonds of the state to be sold from time to time under the supervision of such bond commission. All monies received as proceeds of the sale of the state's bonds, shall be expended, except for reasonable issuance costs and administrative expenses, in discharging obligations that the state is permitted under the foregoing provisions of this amendment to undertake in connection with the channel deepening project and the state docks projects. The legislature shall enact appropriate enabling legislation to carry out the intent and purpose of this amendment.
§213.14 | BONDS FOR CONSTRUCTION AND IMPROVEMENT PURPOSES AT ALABAMA INSTITUTE FOR DEAF AND BLIND
§213.15 | BONDS FOR CONSTRUCTION AND IMPROVEMENT PURPOSES AT UNIVERSITY OF ALABAMA MEDICAL CENTER
The board of trustees of the University of Alabama is hereby vested with full authority, except as limited herein, to provide the terms of the bonds and to provide for the sale and issuance thereof. The bonds may be sold, executed and delivered at any time and from time to time, may be in such forms, denominations, series and numbers, may be of such tenor and maturities, may bear such date or dates, may be in registered or bearer form either as to principal or interest or both with rights of conversion into another form, may be payable in such installments and at such place or places, may bear interest at such rate or rates payable and evidenced in such manner, and may contain provisions for redemption at the option of the state to be exercised by said board at such date or dates prior to their maturity and upon payment of such redemption price or prices, all as shall be provided by the said board in the resolution or resolutions whereunder the bonds are issued. The principal of each series of bonds shall mature in annual installments in such amounts as shall be specified in the resolution or resolutions of the said board under which they are issued, the first of which installments shall mature not later than one year after the date of the bonds of such series and the last of which installments shall mature not later than twenty years after the date of the bonds of the same series. When each series of bonds is issued, the maturities of the bonds of that series shall, to such extent as may be practicable, be so arranged that during each then succeeding fiscal year of the state the aggregate installments of principal and interest that will mature on all bonds that will be outstanding hereunder, immediately following the issuance of the bonds of that series, will be substantially equal; provided, that the determination by the said board that the requirements of this sentence have been complied with shall be conclusive of such compliance and the purchasers of the bonds with respect to which such determination is made and all subsequent holders thereof shall be fully protected thereby. None of the bonds shall be sold for less than face value plus accrued interest thereon to the date of delivery, and all of the bonds shall be sold only at public sale or sales, either on sealed bids or at public auction, after such advertisement as may be prescribed by the said board, to the bidder whose bid reflects the lowest net interest cost to the state computed to the respective maturities of the bonds sold; provided, that if no bid deemed acceptable by the said board is received all bids may be rejected.
The bonds shall be signed in the name of the state by the governor and countersigned by the president pro tempore of the board of trustees of the University of Alabama and the great seal of the state of Alabama or a facsimile thereof shall be impressed, printed or otherwise reproduced thereon and shall be attested by the signature of the secretary of state; provided that facsimile signatures of any one or any two (but not all) of said officers may be reproduced on such bonds in lieu of their manually signing the same. Coupons attached to the bonds and representing installments of interest thereon shall be signed with the facsimile signature of the state treasurer, which facsimile signature is hereby adopted as due and sufficient authentication of said coupons.
All bonds issued under the provisions of this amendment, together with the interest income thereon, shall forever be exempt from taxation in this state.
The proceeds from the sale of bonds hereby authorized, after the payment of all expenses of the sale thereof shall be set apart in a special trust fund in the state treasury to be designated The University of Alabama Medical Center Bond Fund; and such proceeds shall be used solely for the purposes, hereinabove enumerated, for which the bonds are authorized to be issued; provided that the plans and specifications for any building constructed with moneys from said special fund shall be approved by the Alabama building commission or any agency designated by the legislature as its successor.
The provisions of this amendment shall be self-executing and no further authorization from the legislature shall be a prerequisite to the validity of any bonds issued hereunder.
§213.16 | BONDS FOR CONSTRUCTION AND IMPROVEMENT PURPOSES AT THE ALABAMA POLYTECHNIC INSTITUTE
The board of trustees of The Alabama Polytechnic Institute is hereby vested with full authority, except as limited herein, to provide the terms of the bonds and to provide for the sale and issuance thereof. The bonds may be sold, executed and delivered at any time and from time to time, may be in such forms, denominations, series and numbers, may be of such tenor and maturities, may bear such date or dates, may be in registered or bearer form either as to principal or interest or both with rights of conversion into another form, may be payable in such installments and at such place or places, may bear interest at such rate or rates payable and evidenced in such manner, and may contain provisions for redemption at the option of the state to be exercised by said board at such date or dates prior to their maturity and upon payment of such redemption price or prices, all as shall be provided by the said board in the resolution or resolutions whereunder the bonds are issued. The principal of each series of bonds shall mature in annual installments in such amounts as shall be specified in the resolution or resolutions of the said board under which they are issued, the first of which installments shall mature not later than one year after the date of the bonds of such series and the last of which installments shall mature not later than twenty years after the date of the bonds of the same series. When each series of bonds is issued, the maturities of the bonds of that series shall, to such extent as may be practicable, be so arranged that during each then succeeding fiscal year of the state the aggregate installments of principal and interest that will mature on all bonds that will be outstanding hereunder, immediately following the issuance of the bonds of that series, will be substantially equal; provided, that the determination by the said board that the requirements of this sentence have been complied with shall be conclusive of such compliance and the purchasers of the bonds with respect to which such determination is made and all subsequent holders thereof shall be fully protected by such determination. None of the bonds shall be sold for less than face value plus accrued interest thereon to the date of delivery, and all of the bonds shall be sold only at public sale or sales, either on sealed bids or at public auction, after such advertisement as may be prescribed by the said board, to the bidder whose bid reflects the lowest net interest cost to the state computed to the respective maturities of the bonds sold; provided, that if no bid deemed acceptable by the said board is received all bids may be rejected.
The bonds shall be signed in the name of the state by the governor and countersigned by the president pro tempore of the board of trustees of The Alabama Polytechnic Institute, and the great seal of the state of Alabama or a facsimile thereof shall be impressed, printed or otherwise reproduced thereon and shall be attested by the signature of the secretary of state; provided, that facsimile signatures of any one or any two (but not all) of said officers may be reproduced on any of such bonds in lieu of being manually signed thereon. Coupons attached to the bonds and representing installments of interest thereon shall be signed with the facsimile signature of the state treasurer, which facsimile signature shall constitute due and sufficient authentication of said coupons.
All bonds issued under the provisions of this amendment, together with the interest income thereon, shall forever be exempt from taxation in this state.
The provisions of this amendment shall be self-executing and authorization from or other action of the legislature shall not be a prerequisite to the issuance of bonds hereunder.
§213.17 | BONDS FOR CONSTRUCTION AND IMPROVEMENT PURPOSES AT UNIVERSITY OF ALABAMA RESEARCH INSTITUTE
The board of trustees of the University of Alabama is hereby vested with full authority, except as limited herein, to provide the terms of the bonds and to provide for the sale and issuance thereof. The bonds may be sold, executed and delivered at any time and from time to time, may be in such forms, denominations, series and numbers, may be of such tenor and maturities, may bear such date or dates, may be in registered or bearer form either as principal or interest or both with rights of conversion into another form, may be payable in such installments and at such place or places, may bear interest at such rate or rates payable and evidenced in such manner, and may contain provisions for redemption at the option of the state to be exercised by said board at such date or dates prior to their maturity and upon payment of such redemption price or prices, all as shall be provided by the said board in the resolution or resolutions whereunder the bonds are issued. The principal of each series of bonds shall mature in annual installments in such amounts as shall be specified in the resolution or resolutions of the said board under which they are issued, the first of which installments shall mature not later than one year after the date of the bonds of such series and the last of which installments shall mature not later than twenty years after the date of the bonds of the same series. When each series of bonds is issued, the maturities of the bonds of that series shall, to such extent as may be practicable, be so arranged that during each then succeeding fiscal year of the state the aggregate installments of principal and interest that will mature on all bonds that will be outstanding hereunder, immediately following the issuance of the bonds of that series, will be substantially equal; provided that the determination by the said board that the requirements of this sentence have been complied with shall be conclusive of such compliance and the purchasers of the bonds with respect to which such determination is made and all subsequent holders thereof shall be fully protected thereby. None of the bonds shall be sold for less than face value plus accrued interest thereon to the date of delivery, and all of the bonds shall be sold only at public sale or sales, either on sealed bids or at public auction, after such advertisement as may be prescribed by the said board, to the bidder whose bid reflects the lowest net interest cost to the state computed to the respective maturities of the bonds sold; provided, that if no bid deemed acceptable by the said board is received all bids may be rejected.
The bonds shall be signed in the name of the state by the governor and countersigned by the president pro tempore of the board of trustees of the University of Alabama and the great seal of the state of Alabama or a facsimile thereof shall be impressed, printed or otherwise reproduced thereon and shall be attested by the signature of the secretary of state; provided that facsimile signatures of any one or any two (but not all) of said officers may be reproduced on such bonds in lieu of their manually signing the same. Coupons attached to the bonds and representing installments of interest thereon shall be signed with the facsimile signature of the state treasurer, which facsimile signature is hereby adopted as due and sufficient authentication of said coupons.
All bonds issued under the provisions of this amendment, together with the interest income thereon, shall forever be exempt from taxation in this state.
The proceeds from the sale of bonds hereby authorized, after the payment of all expenses of the sale thereof shall be set apart in a special trust fund in the state treasury to be designated the University of Alabama Research Institute bond fund; and such proceeds shall be used solely for the purposes, hereinabove enumerated, for which the bonds are authorized to be issued; provided that the plans and specifications for any building constructed with moneys from said special fund shall be approved by the Alabama building commission or any agency designated by the legislature as its successor.
The provisions of this amendment shall be self-executing and no further authorization from the legislature shall be a prerequisite to the validity of any bonds issued hereunder.
§213.18 | ISSUANCE OF REVENUE SECURITIES BY INSTITUTIONS OF LEARNING
§213.19 | INDEBTEDNESS BY STATE FOR TEXTILE TECHNOLOGY AND EDUCATION FACILITIES
The State of Alabama is further authorized to become indebted and in evidence thereof to sell and issue one or more series of bonds to refund all or any of the bonds hereinabove authorized by this amendment in such principal amount or amounts (which may exceed the principal amount of the bonds being refunded) and in such manner as may be provided by law duly enacted by the Legislature.
The aforesaid authority is hereby vested with the power and authority to provide for the sale and terms of the bonds hereby authorized and the issuance thereof, subject to the approval of the Governor. The bonds may be sold, executed, and delivered at any time and from time to time, may be in such forms, denominations, series, and numbers, may be of such tenor and maturities, may bear such date or dates, may be payable in such installments and at such place or places, may bear interest at such rate or rates payable and evidenced in such manner, and may contain provisions for redemption at the option of the state to be exercised by said authority at such date or dates prior to their maturity and upon payment of such redemption price or prices, all as shall be provided by the said authority in the resolution or resolutions whereunder the bonds hereby authorized are issued. The principal of each series of bonds shall mature on such date in such amounts as shall be specified in the resolution or resolutions of the board of directors of the said authority under which they are issued, the last of which installments shall mature not later than twenty-one years after the date of the bonds of the same series. All of the bonds (including refunding bonds) shall be sold only at public sale or sales, either on sealed bids or at public auction, after such advertisement as may be prescribed by the said authority, to the bidder whose bid reflects the lowest true interest cost to the state computed to the respective maturities of the bonds sold; provided, that if no bid deemed acceptable by the said authority is received, all bids may be rejected.
The bonds shall be signed in the name of the state by the Governor and countersigned by the chairman of the said authority and the Great Seal of the State of Alabama or a facsimile thereof shall be impressed, printed or otherwise reproduced thereon and shall be attested by the signature of the Secretary of State; provided that facsimile signatures of any or all of said officers may be reproduced on such bonds in lieu of their manually signing the same.
All bonds issued under the provisions of this amendment, together with the interest income thereon, shall forever be exempt from all taxation in the state, except inheritance, estate and gift taxes.
The proceeds from the sale of those bonds hereby authorized (other than refunding bonds), after the payment of all expenses of the sale thereof, shall be set apart in a special fund in the State Treasury to be designated “The Alabama Textile Technology Facilities Improvement Fund,” and such proceeds shall be temporarily invested until needed and disbursed, together with income derived from the investment and reinvestment thereof, on order of the aforesaid authority solely for the purposes, hereinabove described, for which said bonds are authorized to be issued. Proceeds and said income so disbursed may be combined with moneys derived from other sources or otherwise provided by state institutions in accomplishing said purposes in such manner as said authority shall direct, but the provision or existence of matching funds from the federal government or other entities or persons shall not be a prerequisite to the issuance of any bonds hereunder or to the disbursements of any proceeds thereof or any income earned on such proceeds.
No further authorization from the Legislature shall be a prerequisite to the validity of any bonds issued hereunder. However, the Legislature shall enact appropriate legislation implementing the provisions hereof, including provisions for the issuance of refunding bonds as hereinabove authorized.
§213.20 | INDEBTEDNESS BY STATE FOR ANIMAL AND LIVESTOCK DIAGNOSTIC SERVICES AND EDUCATION FACILITIES
The State of Alabama is further authorized to become indebted and in evidence thereof to sell and issue one or more series of bonds to refund all or any of the bonds hereinabove authorized by this amendment in such principal amount or amounts (which may exceed the principal amount of the bonds being refunded) and in such manner as may be provided by law duly enacted by the legislature.
The aforesaid Authority is hereby vested with the power and authority to provide for the sale and terms of the bonds hereby authorized and the issuance thereof, subject to the approval of the Governor. The bonds may be sold, executed and delivered at any time and from time to time, may be in such forms, denominations, series and numbers, may be of such tenor and maturities, may bear such date or dates, may be payable in such installments and at such place or places, may bear interest at such rate or rates payable and evidenced in such manner, and may contain provisions for redemption at the option of the State to be exercised by said Authority at such date or dates prior to their maturity and upon payment of such redemption price or prices, all as shall be provided by the said Authority in the resolution or resolutions whereunder the bonds hereby authorized are issued. The principal of each series of bonds shall mature on such date in such amounts as shall be specified in the resolution or resolutions of the board of directors of the said Authority under which they are issued, the last of which installments shall mature not later than twenty-one years after the date of the bonds of the same series. All of the bonds (including refunding bonds) shall be sold only at public sale or sales, either on sealed bids or at public auction, after such advertisement as may be prescribed by the said Authority, to the bidder whose bid reflects the lowest true interest cost to the State computed to the respective maturities of the bonds sold; provided, that if no bid deemed acceptable by the said Authority is received all bids may be rejected.
The bonds shall be signed in the name of the State by the Governor and countersigned by the chairman of the said Authority and the Great Seal of the State of Alabama or a facsimile thereof shall be impressed, printed or otherwise reproduced thereon and shall be attested by the signature of the Secretary of State; provided that facsimile signatures of any or all of said officers may be reproduced on such bonds in lieu of their manually signing the same.
All bonds issued under the provisions of this amendment, together with the interest income thereon, shall forever be exempt from all taxation in the State, except inheritance, estate and gift taxes.
The proceeds from the sale of those bonds hereby authorized (other than refunding bonds), after the payment of all expenses of the sale thereof, shall be set apart in a special fund in the state Treasury to be designated “The Alabama Agricultural, Forestry and Veterinary Medicine Facilities Improvement Fund,” and such proceeds shall be temporarily invested until needed and disbursed, together with income derived from the investment and reinvestment thereof, on order of the aforesaid Authority solely for the purposes, hereinabove described, for which said bonds are authorized to be issued. Proceeds and said income so disbursed may be combined with monies derived from other sources or otherwise provided by State institutions in accomplishing said purposes in such manner as said Authority shall direct, but the provision or existence of matching funds from the federal government or other entities or persons shall not be a prerequisite to the issuance of any bonds hereunder or to the disbursement of any proceeds thereof or any income earned on such proceeds.
No further authorizations from the legislature shall be a prerequisite to the validity of any bonds issued hereunder. However, the legislature shall enact appropriate legislation implementing the provisions hereof, including provisions for the issuance of refunding bonds as hereinabove authorized.
§213.21 | INDEBTEDNESS BY STATE FOR FORENSIC SCIENCES LABORATORIES AND EDUCATION FACILITIES
The State of Alabama is further authorized to become indebted and in evidence thereof to sell and issue one or more series of bonds to refund all or any of the bonds hereinabove authorized by this amendment in such principal amount or amounts (which may exceed the principal amount of the bonds being refunded) and in such manner as may be provided by law duly enacted by the legislature.
The aforesaid Authority is hereby vested with the power and authority to provide for the sale and terms of the bonds hereby authorized and the issuance thereof, subject to the approval Governor. The bonds may be sold, executed and delivered at any time and from time to time, may be in such forms, denominations, series and numbers, may be of such tenor and maturities, may bear such date or dates, may be payable in such installments and at such place or places, may bear interest at such rate or rates payable and evidenced in such manner, and may contain provisions for redemption at the option of the State to be exercised by said Authority at such date or dates prior to their maturity and upon payment of such redemption price or prices, all as shall be provided by the said Authority in the resolution or resolutions whereunder the bonds hereby authorized are issued. The principal of each series of bonds shall mature on such date in such amounts as shall be specified in the resolution or resolutions of the board of directors of the said Authority under which they are issued, the last of which installments shall mature not later than twenty-one years after the date of the bonds of the same series. All of the bonds (including refunding bonds) shall be sold only at public sale or sales, either on sealed bids or at public auction, after such advertisement as may be prescribed by the said Authority, to the bidder whose bid reflects the lowest true interest cost to the State computed to the respective maturities of the bonds sold; provided, that if no bid deemed acceptable by the said Authority is received all bids may be rejected.
The bonds shall be signed in the name of the State by the Governor and countersigned by the chairman of the said Authority and the Great Seal of the State of Alabama or a facsimile thereof shall be impressed, printed or otherwise reproduced thereon and shall be attested by the signature of the Secretary of State; provided that facsimile signatures of any or all of said officers may be reproduced on such bonds in lieu of their manually signing the same.
All bonds issued under the provisions of this amendment, together with the interest income thereon, shall forever be exempt from all taxation in the State, except inheritance, estate and gift taxes.
The proceeds from the sale of those bonds hereby authorized (other than refunding bonds), after the payment of all expenses of the sale thereof, shall be set apart in a special fund in the state Treasury to be designated “The Forensic Sciences Facilities Improvement Fund,” and such proceeds shall be temporarily invested until needed and disbursed, together with income derived from the investment and reinvestment thereof, on order of the aforesaid Authority solely for the purposes, hereinabove described, for which said bonds are authorized to be issued. Proceeds and said income so disbursed may be combined with monies derived from other sources or otherwise provided by State institutions in accomplishing said purposes in such manner as said Authority shall direct, but the provision or existence of matching funds from the federal government or other entities or persons shall not be a prerequisite to the issuance of any bonds hereunder or to the disbursement of any proceeds thereof or any income earned on such proceeds.
The Alabama Forensic Sciences Bond Authority shall, to the extent possible and practical, utilize businesses and companies in all aspects of the bond and construction portions of this amendment that reflect the racial and ethnic diversity of the state.
No further authorizations from the legislature shall be a prerequisite to the validity of any bonds issued hereunder. However, the legislature shall enact appropriate legislation implementing the provisions hereof, including provisions for the issuance of refunding bonds as hereinabove authorized.
§213.22 | BONDS FOR STATE BOARD OF HEALTH HOSPITALS AND DISTRICT TUBERCULOSIS SANITORIA
The proceeds from the sale of such bonds are hereby appropriated and shall be used solely for the construction of hospitals and hospital facilities pursuant to Act No. 211, S. 107, approved July 7, 1945 (General Acts of Alabama, 1945, page 330), or any act supplemental thereto or amendatory thereof; provided, that the funds appropriated hereby shall be used only for the construction of hospitals, clinics, or health centers under contracts which have been or are let on or after May 1, 1949, and that the funds shall be used to match federal funds available for hospital, clinic or health center purposes, and that the local governments in the area where each hospital, clinic or health center is to be built shall contribute at least as much money for the construction as does the state; and provided further that the state shall not contribute more than three hundred fifty thousand dollars ($350,000) to the construction of any one hospital, clinic or health center.
In determining where a hospital, clinic or health center to be constructed with the funds appropriated herein shall be located, first consideration shall be given to communities which have no hospital, clinic or health center facilities. Each county having no hospital, clinic or health center facilities shall be entitled to an allotment of not less than sixty thousand dollars ($60,000) for such facilities if application is made therefore before January 1 of each year. Any funds available for hospital, clinic or health center facilities remaining on January 1 of each year after allotments have been made to those counties having no such facilities and having not already received an allotment and which have made application therefor may be allotted to those counties having such facilities which have made application therefor. However, counties receiving prior allotments hereunder shall not be precluded from receiving a larger allotment or an additional allotment at the discretion of the state board of health.
District tuberculosis sanitoria in the districts set up in Act No. 287, S. 22, approved July 7, 1945 [Acts 1945, p. 474], shall be eligible for construction under the provisions of this amendment, and 25 percent of the proceeds from the sale of bonds authorized by this amendment shall be reserved for the construction of tuberculosis sanitoria; provided, at the end of each calendar year funds not obligated for either general or tuberculosis hospital construction may be used during the next year for either type construction; and provided further, that the local governments or authorities in the area where the sanitorium is to be built shall contribute at least as much money as does the state. A sum not to exceed forty thousand dollars ($40,000) may be used by the state board of health for hospital administration for each of the two (2) years ending in 1950, and 1951; this appropriation shall be cumulative.
(b) All bonds issued hereunder and interest thereon shall be payable from any funds in the state treasury not otherwise appropriated. The bonds shall be payable in substantially equal installments of principal and interest beginning in the next fiscal year after their date; they shall bear interest at a rate not exceeding two percent per annum payable semi-annually; and they shall contain a provision for their call for payment at such a time or times prior to maturity, and at such a premium, if any, as the governor may prescribe. All bonds issued hereunder shall be sold to the highest bidder at a duly advertised public sale, on sealed bids or at auction, and shall not be sold for less than par and accrued interest; provided, bidders may be invited to name the rate of interest which the bonds are to bear, in which case the bonds shall not be sold at a price which would yield more than two percent according to standard bond tables, taking into account the discount and call privilege.
§213.23 | BOND ISSUE FOR BUILDING CONSTRUCTION AND IMPROVEMENT PURPOSE AT ALABAMA STATE HOSPITALS AND PARTLOW STATE SCHOOL FOR MENTAL DEFICIENTS
All bonds issued hereunder and the interest thereon shall be payable from any funds in the state treasury not otherwise appropriated. The bonds shall be payable in substantially equal installments of principal and interest beginning in the next fiscal year after their date. They shall bear interest at a rate not to exceed three percent, and they shall contain a provision for their call for payment at such a time or times prior to maturity, and at such a premium, if any, as may be prescribed in the notice of sale. All bonds issued hereunder shall be sold to the best bidder at a duly advertised public sale, upon sealed bids or at auction, and shall not be sold for less than par and accrued interest; provided, however, that bidders may be invited to name the rate or rates of interest which the bonds are to bear. The right to reject any or all bids shall be reserved. Bonds issued hereunder shall mature within twenty years from the date of issuance.
The legislature shall adopt appropriate enabling legislation to carry out the intent and purpose of this amendment to the Constitution.
§213.24 | INCREASING RATE OF INTEREST AND OTHER MATTERS RELATING TO BONDS AUTHORIZED UNDER SECTION 213.23
§213.25 | BOND ISSUE TO ASSIST IN CONSTRUCTION AND EQUIPMENT OF HOSPITALS, ETC
The proceeds from the sale of such bonds are hereby appropriated and shall be used solely for the construction and equipping of hospitals, health centers, tuberculosis hospitals or sanatoria, and related medical facilities pursuant to Act No. 211, General Acts of Alabama 1945, page 330, approved July 7, 1945; and Act 287, General Acts of Alabama 1945, page 474, approved July 7, 1945; and Act No. 46, General and Local Acts 1949, page 68, approved June 2, 1949; as said acts are now or may hereafter be amended; and such facilities established and operated by the corporate authorities of a city or town, or a county governing body under the provision of Title 22, section 189, Code of Alabama 1940, as same is now or may hereafter be amended; or any act supplemental thereto or amendatory thereof. The funds provided hereby shall be used only for construction and equipping facilities under contracts which have been or are let on or after July 1, 1955; shall be used to match federal funds available for hospital health center, and related medical facilities provided under Public Law 725, 79th Congress and Public Law 482, 83rd Congress, as said Public Laws are now or may hereafter be amended; and the local governments in the area where each hospital, health center, tuberculosis hospitals or sanatoria, or related medical facility is to be constructed or equipped shall contribute at least as much money for the construction and equipping as does the state; and provided further that the state shall not contribute more than two hundred and fifty thousand dollars ($250,000) to the construction and equipping of any tuberculosis hospital or sanatoria and one hundred thousand dollars ($100,000) for any other facility included within the scope of this amendment.
In determining where a hospital, health center, tuberculosis hospitals or sanatoria, or related medical facility to be constructed with funds appropriated herein shall be located, consideration shall be given to the communities on the basis of relative need. Each county having no hospital, health center, tuberculosis hospitals or sanatoria, or related medical facility shall have first priority. Counties receiving prior allotments hereunder shall not be precluded from receiving an additional allotment for other facilities at the discretion of the state board of health. A sum not to exceed forty thousand dollars ($40,000) may be used by the state board of health from the proceeds of the sale of said bonds for administering the provision of this amendment.
(b) All bonds issued hereunder and the interest thereon shall be payable from any funds in the state treasury not otherwise appropriated. The bonds shall be payable in substantially equal installments of principal and interest beginning in the next fiscal year after their date; they shall bear interest at a rate not to exceed 2 % and they shall contain a provision for their call for payment at such a time or times prior to maturity, and at such a premium, if any, as the governor may prescribe in the notice of sale. All bonds issued hereunder shall be sold to the best bidder at a duly advertised public sale, on sealed bids or at auction, and shall not be sold for less than par and accrued interest; provided, bidders may be invited to name the rate or rates of interest, which the bonds are to bear. The right to reject any or all bids shall be reserved.
§213.26 | INCREASING RATE OF INTEREST AND OTHER MATTERS RELATING TO BONDS ISSUED UNDER SECTION 213.25
§213.27 | BOND ISSUE FOR MENTAL HOSPITAL AT UNIVERSITY OF ALABAMA MEDICAL CENTER
§213.28 | BOND ISSUE TO ASSIST IN CONSTRUCTION AND EQUIPMENT OF HOSPITALS, ETC
The proceeds from the sale of such bonds are hereby appropriated and shall be used solely for the construction and equipping of hospitals, health centers, and related facilities pursuant to Act No. 211, General Acts of Alabama 1945, page 330, and approved July 7, 1945; and Act 287, General Acts of Alabama 1945, page 474, approved July 7, 1945; and Act No. 46, General and Local Acts 1949, page 68, approved June 2, 1949; as said acts are now or may hereafter be amended; and such facilities established and operated by the corporate authorities of a city or town, or a county governing body under the provision of Code of Alabama, Title 22, section 189 [§ 22-21-1], as same is now or may hereafter be amended; or any act supplemental thereto or amendatory thereof. The funds provided hereby shall be used for construction and equipping facilities under contracts which have been or are let on or after July 1, 1961; shall be used to match federal funds available for hospital, health center, and related medical facilities provided under Public Law 725, 79th Congress and Public Law 482, 83rd Congress, as said public laws are now or may hereafter be amended; and that the local governments in the area where each hospital, health center, or related medical facility is to be constructed or equipped shall contribute at least as much money for the construction and equipping as does the state; and provided further that the state shall not contribute more than one hundred thousand dollars ($100,000) for any facility included within the scope of this amendment.
In determining where a hospital, health center, or related medical facility to be constructed with funds appropriated herein shall be located, consideration shall be given to the communities on the basis of relative need. Counties receiving prior allotments hereunder shall not be precluded from receiving an additional allotment for other facilities at the discretion of the state board of health. A sum not to exceed sixty thousand dollars ($60,000) may be used by the state board of health from the proceeds of the sale of said bonds for administering the provision of this amendment.
(b) All bonds hereunder and the interest thereon shall be payable from any funds in the state treasury not otherwise appropriated. The bonds may be executed and delivered from time to time in such forms, denominations, series and numbers, may be of such tenor and maturities, may bear such date or dates, may be in registered or bearer form either as to principal and interest or both with rights of conversion into another form, may contain provisions for redemption at the option of the state at such date or dates prior to their maturity and upon payment of such redemption price or prices, and may contain such other terms and conditions not inconsistent with the provisions hereof, all as may be provided in the order of the governor providing for the issuance thereof which shall be made at the time of each sale of any of said bonds. The principal of each series of said bonds shall mature in annual installments in such amounts as shall be specified in the order under which they are issued, the first of which installments shall mature not later than one year after the date of the bonds of such series and the last of which installments shall mature not later than ten years after the date of the bonds of the same series. When each series of said bonds is issued, the maturities of the bonds of that series shall, to the extent as may be practicable, be so arranged that during any then succeeding fiscal year of the state the aggregate installments of principal and interest that will mature of all of the said bonds that will be outstanding hereunder, immediately following the issuance of the bonds of that series, will be substantially equal; provided, that the determination in the order under which the bonds of such series are issued that the requirements of this sentence have been complied with shall be conclusive of such compliance and the purchasers of the bonds with respect to which such determination is made and all subsequent holders thereof shall be fully protected thereby. None of said bonds shall be sold for less than face value plus accrued interest to the date of delivery, and all of said bonds shall be sold at public sale or sales, either sealed bids or at public auction, after advertisement in a financial journal published in New York at least one time not less than ten days prior to the date fixed for the sale, to the bidder whose bid reflects the lowest net interest cost to the state computed to the respective maturities of the bonds sold; provided, that if no bid deemed acceptable by the governor is received all bids may be rejected.
§213.29 | BOND ISSUE FOR ACQUISITION, IMPROVEMENT, ETC., OF MENTAL HEALTH FACILITIES
§213.30 | BONDS FOR ACQUISITION, CONSTRUCTION, ETC., OF MENTAL HEALTH FACILITIES
§213.31 | BOND ISSUE TO ACQUIRE, DEVELOP, ETC., STATE PARKS AND PARK FACILITIES
The governor, the director of finance, and the director of conservation are hereby constituted a bond commission with full authority, except as herein specified or limited, to provide the terms of the bonds and to provide for the sale and issuance thereof. The governor shall be the chairman of the commission, which shall meet at his call; its proceedings shall be signed by its members and filed with the secretary of state. The bonds may be sold, executed and delivered at any time and from time to time, may be in such forms, denominations, series and numbers, may be of such tenor and maturities, may bear such date or dates, may be in registered or bearer form either as to principal or interest or both, with rights of conversion into another form, may be payable in such installments and at such place or places, may bear interest at such rate or rates, payable and evidenced in such manner, and may contain provisions for redemption at the option of the state at such date or dates prior to their maturity and upon payment of such redemption price or prices, all as shall be provided by the said commission in the order or orders under which the bonds are issued. The principal of each series of bonds shall mature in annual installments in such amounts as shall be specified in the authorizing order or orders; provided, that the first such installment shall mature not later than one year after the date of the bonds of such series, and the last such installment shall mature not later than twenty years after the date of the bonds of the same series; and provided further, that at the time of the issuance of each series of bonds, the maturities of the bonds of that series shall, to such extent as may be practicable, be so arranged that during each then succeeding fiscal year of the state the aggregate installments of principal and interest that will mature on all bonds that will be outstanding hereunder, immediately following the issuance of the bonds of that series, will be substantially equal. The determination by the commission that the requirements of the last proviso of the preceding sentence have been complied with shall be conclusive of such compliance.
The bonds shall be signed in the name of the state by the governor and countersigned by the director of finance and the great seal of the state of Alabama or a facsimile thereof shall be impressed, printed or otherwise reproduced thereon and shall be attested by the signature of the secretary of state; provided, that the facsimile signatures of any one or any two (but not all) of said officers may be reproduced on any of such bonds in lieu of being manually signed thereon. Coupons attached to the bonds and representing installments of interest thereon shall be signed with the facsimile signature of the state treasurer, which facsimile signature shall constitute due and sufficient authentication of said coupons.
All bonds issued under the provisions of this amendment, together with the interest income thereon, shall forever be exempt from taxation in this state.
The provisions of this amendment shall be self-executing and authorization from or other action by the legislature shall not be a prerequisite to the issuance of bonds hereunder.
§213.32 | INDEBTEDNESS BY STATE FOR STATE PARKS SYSTEM AND HISTORICAL SITES
The State of Alabama is further authorized to become indebted and in evidence thereof to sell and issue one or more series of bonds to refund all or any of the bonds hereinabove authorized by this amendment in such principal amount or amounts, which may exceed the principal amount of the bonds being refunded, and in such manner as may be provided by law duly enacted by the Legislature.
The aforesaid corporations are hereby vested with the power and authority to provide for the sale and terms of the bonds hereby authorized and the issuance thereof, subject to the approval of the Governor. The bonds may be sold, executed, and delivered at any time and from time to time, may be in such forms, denominations, series, and numbers, may be of such tenor and maturities, may bear such date or dates, may be payable in such installments and at such place or places, may bear interest at such rate or rates payable and evidenced in such manner, and may contain provisions for redemption at the option of the state to be exercised by the corporations at such date or dates prior to their maturity and upon payment of such redemption price or prices, all as shall be provided by the corporations in the resolution or resolutions whereunder the bonds hereby authorized are issued. The principal of each series of bonds shall mature on such date and in such amounts as shall be specified in the resolution or resolutions of the board of directors of the corporations under which they are issued, the last of which installments shall mature not later than 20 years after the date of the bonds of the same series. All of the bonds, including refunding bonds, shall be sold only at public sale or sales, either on sealed bids or at public auction, after such advertisement as may be prescribed by the corporations, to the bidder whose bid reflects the lowest true interest cost to the state computed to the respective maturities of the bonds sold; provided, that if no bid deemed acceptable by the corporation is received, all bids may be rejected.
The bonds shall be signed in the name of the state by the Governor of the State of Alabama and the Great Seal of the State of Alabama or a facsimile thereof shall be impressed, printed or otherwise reproduced thereon and shall be attested by the signature of the Secretary of State of the State of Alabama; provided that facsimile signatures of either or both of the officers may be reproduced on such bonds in lieu of their manually signing the same.
All bonds issued under the provisions of this amendment, together with the interest income thereon, shall forever be exempt from all taxation in the state, except inheritance, estate and gift taxes.
The proceeds from the sale of the bonds by the Alabama State Parks System Improvement Corporation hereby authorized, other than refunding bonds, after the payment of all expenses of the sale thereof, shall be set apart in a special fund in the State Treasury to be designated “The Alabama State Parks System Improvement Fund,” and such proceeds, together with income derived from the investment and reinvestment thereof, shall be temporarily invested until needed and disbursed, on order of the aforesaid corporation solely for the purposes, hereinabove described, for which the bonds are authorized to be issued.
The proceeds from the sale of the bonds by the Alabama Public Historical Sites and Parks Improvement Corporation hereby authorized, other than refunding bonds, after the payment of all expenses of the sale thereof, shall be set apart in a special fund in the State Treasury to be designated “The Alabama Public Historical Sites and Parks Improvement Fund,” and such proceeds, together with income derived from the investment and reinvestment thereof, shall be temporarily invested until needed and disbursed, on order of the aforesaid corporation solely for the purposes, hereinabove described, for which the bonds are authorized to be issued.
No further authorization from the Legislature shall be a prerequisite to the validity of any bonds issued hereunder. However, the Legislature shall enact appropriate legislation implementing the provisions hereof, including provisions for the issuance of refunding bonds as hereinabove authorized.
The Alabama State Parks System Improvement Corporation and the Alabama Public Historical Sites and Parks Improvement Corporation authorized in this constitutional amendment are strongly encouraged to utilize businesses and companies in all aspects of the bond and construction portions of this amendment that reflect the racial and ethnic diversity of the state.
§213.321 | BONDS FOR STATE PARKS, PUBLIC HISTORICAL SITES, AND PUBLIC HISTORICAL PARKS
(2) The bonds shall be direct general obligations of the state, and the full faith and credit and taxing power of the state are hereby pledged to the prompt and faithful payment of the principal thereof and the interest thereon. All of the bonds shall be issued for the state by the Alabama State Parks Enhancement Authority, created by this amendment and further provided for by general law, pursuant to the appropriate resolutions adopted by the board of directors of the authority, and the proceeds thereof shall be appropriated and used exclusively for the purpose of paying the expenses incurred in the sale and issuance of the bonds. Eighty million dollars ($80,000,000) of the bonds shall be used for payment of the costs of the improvement, renovation, acquisition, provision, construction, equipping, and maintenance of Alabama state parks under the jurisdiction of the Department of Conservation and Natural Resources. Five million dollars ($5,000,000) of the bonds shall be used for the costs of the improvement, renovation, acquisition, provision, construction, equipping, and maintenance of public historical sites and public historical parks under the jurisdiction of the Alabama Historical Commission.
(3) The Alabama Historical Commission shall not use bond proceeds from this amendment for the improvement, acquisition, provision, construction, equipping, or maintenance of Confederate Memorial Park in Marbury.
(4) The improvement, renovation, equipping, acquisition, provision, construction, and maintenance of Alabama state parks under the jurisdiction of the Department of Conservation and Natural Resources shall be completed in accordance with plans developed by the Department of Conservation and Natural Resources. Upon completion, all improvements, renovations, fixtures, equipment, and real or personal property shall become property of the Department of Conservation and Natural Resources.
(5) The improvement, renovation, equipping, acquisition, provision, construction, and maintenance of public historical parks and public historical sites under the jurisdiction of the Alabama Historical Commission shall be completed in accordance with plans developed by the Alabama Historical Commission. Upon completion, all improvements, renovations, fixtures, equipment, and real or personal property shall become property of the Alabama Historical Commission.
(6) If the bond proceeds exceed eighty-five million dollars ($85,000,000) due to receipt of original issue premium in connection with the sale of bonds or due to any other reason, any bond proceeds in excess of eighty-five million dollars ($85,000,000) plus expenses related to the issuance of the bonds shall be allocated to the Alabama Forestry Commission for capital improvement, renovation, acquisition, provision, construction, equipping, and maintenance of state forests.
(c) The authority is hereby vested with the power and authority to provide for the sale and terms of the bonds authorized and the issuance thereof, subject to the approval of the Governor. The bonds may be sold, executed, and delivered at any time and from time to time, may be in such forms, denominations, series, and numbers, may be of such tenor and maturities, may bear such date or dates, may be payable in such installments and at such place or places, may bear interest at such rate or rates payable and evidenced in such manner, and may contain provisions for redemption at the option of the state to be exercised by the authority at such date or dates prior to their maturity and upon payment of such redemption price or prices, all as shall be provided by the authority in the resolution or resolutions under which the bonds are issued. The principal of each series of bonds shall mature on such date and in such amounts as shall be specified in the resolution or resolutions of the board of directors of the authority, the last of which installments shall mature not later than 20 years after the date of the bonds of the same series. Bonds of the authority, including refunding bonds, may be sold either at public sale or private sale. Bonds sold by competitive bid must be sold, whether on sealed bids or at public auction, after advertisement as may be prescribed by the authority, to the bidder whose bid reflects the lowest true interest cost to the state computed to the respective maturities of the bonds sold; provided, that if no bid deemed acceptable by the authority is received, all bids may be rejected.
(d) The bonds shall be signed in the name of the state by the Governor, and the Great Seal of the State of Alabama or a facsimile thereof shall be impressed, printed, or otherwise reproduced thereon and shall be attested by the signature of the Secretary of State; provided, that facsimile or electronic signatures of either or both of the officers may be reproduced on the bonds in lieu of manual signatures.
(e) All bonds issued under this amendment, together with the interest income thereon, shall forever be exempt from all taxation in the state, except inheritance, estate, and gift taxes.
(f) The proceeds from the sale of the bonds by the Alabama State Parks Enhancement Authority authorized by this amendment, other than refunding bonds, after the payment of all expenses of the sale thereof, shall be set apart in a special fund in the State Treasury to be designated the Alabama State Parks Enhancement Fund, and the proceeds, together with income derived from the investment and reinvestment thereof, shall be temporarily invested until needed and disbursed, on order of the authority solely for the purposes, hereinabove described, for which the bonds are authorized to be issued.
(g) No further authorization from the Legislature shall be a prerequisite to the validity of any bonds issued under this amendment. However, the Legislature shall enact appropriate legislation implementing this amendment, including provisions for the issuance of refunding bonds as authorized by this amendment.
(h) The Alabama State Parks Enhancement Authority, to the extent practiced, shall strive to use businesses and companies in all aspects of the bond and construction portions authorized by this amendment that reflect the racial and ethnic diversity of the state.
§213.325 | USE OF PARKS FUNDING
Notwithstanding, in the event that guest revenues to the State Parks Revolving Fund exceed the threshold of $50 million (as annually adjusted based on increases in the consumer price index) in a fiscal year, the sales and use and cigarette tax revenue distributed to benefit the State Parks System shall be reduced in the following fiscal year. The amount of the reduction shall correspond to the amount of guest revenue to the State Parks Revolving Fund exceeding the threshold. The amount of tax revenue not distributed to benefit the State Parks System shall be distributed to the General Fund.
§213.33 | BONDS FOR PENAL AND CORRECTIONAL FACILITIES
§213.34 | ISSUANCE OF INTEREST BEARING BONDS FOR SPECIFIED PURPOSES
The legislature shall enact appropriate implementing laws to provide for the sale and issuance of the bonds authorized by this amendment, to appropriate and allocate the proceeds thereof, together with the investment income derived from said proceeds, among the hereinbefore described purposes, and otherwise to carry out the intent and purpose of this amendment.
The state of Alabama is also authorized to become indebted and to sell and issue one or more series of bonds to refund all or any of the bonds authorized by this amendment in such principal amount or amounts (which may exceed the principal amount of the bonds being refunded) and in such manner as may be provided by law duly enacted by the legislature.
All bonds issued pursuant to this amendment (including refunding bonds) may be sold at public or private sale, with or without competitive bidding, to such person or persons, at such price or prices and upon such terms as the governor, the director of finance and the state treasurer shall determine to be in the best interests of the state. All such bonds (including refunding bonds) shall be direct, general obligations of the state, and the full faith and credit of the state are hereby irrevocably pledged for the prompt and faithful payment of the principal of said bonds and the interest and premium (if any) thereon.
§213.35 | ALABAMA MUSIC HALL OF FAME AUTHORITY
As used in this amendment, the following words and phrases shall have the following respective meanings:
“Board” means (i) the Alabama music hall of fame board created and established by sections 41-9-680, et seq., of the Code of Alabama 1975, as amended, or (ii) such other agency of the state which performs substantially the same functions as said board and which is declared by the legislature to be a successor thereto or a replacement thereof.
“State” means the state of Alabama.
The proceeds of said bonds remaining after payment of the expenses of selling and issuing the same, together with the investment income derived from said proceeds, shall be used for the purpose of providing funds for the acquisition, construction, installation and equipping of buildings and other facilities consisting of any one or more of the following to be located in Colbert county, Alabama: (i) a music hall of fame and exhibition facility for the display of busts, statutes, plaques, books, papers, pictures, computerized figures, memorabilia, records, films, audio tapes, video tapes, compact disks, recordings, pictures and other exhibits relating to music and musicians, (ii) a library, research and educational center for the collection and documentation of music and for music education and enrichment programs, (iii) an audio visual auditorium/theatre, (iv) a recording studio, or (v) other facilities necessary or useful in connection with the use of any of the aforesaid facilities, including the acquisition of sites and equipment for any of the aforesaid facilities. Said proceeds may also be used to pay any costs and expenses incidental to the aforesaid purposes for which the bonds are authorized, which may include but shall not be limited to interest on such bonds prior to and during construction of the aforesaid facilities to be constructed with said proceeds and for not exceeding one year after completion of construction. The authority is hereby fully authorized and empowered, except as herein specified or limited, to determine which of the aforesaid facilities shall be acquired, constructed, installed or equipped by the authority using the aforesaid proceeds. The plans and specifications for any building or other facility acquired, constructed, installed or equipped with proceeds of said bonds shall be approved solely by the authority.
The authority is also authorized and empowered to sell and issue one or more series of its bonds, which shall be and constitute general obligations of the state, to refund all or any of the bonds authorized by this amendment in such principal amount or amounts (which may exceed the principal amount of the bonds being refunded) and in such manner as may be provided by resolution duly adopted by the authority. The authority is also hereby fully authorized and empowered, except as herein specified or limited, to determine the terms and conditions of such refunding bonds and to provide for the sale and issuance thereof. Upon issuance of said bonds by the authority, the state is authorized to and shall become indebted, in addition to all other indebtedness of the state, in the aggregate principal amount of such refunding bonds issued pursuant to this amendment. The full faith and credit of the state are hereby irrevocably pledged for the prompt and faithful payment of the principal of said refunding bonds and the interest and premium (if any) thereon.
All of said bonds issued by the authority (including refunding bonds) may be sold only at public sale, with competitive bidding, to such person or persons, at such price or prices and upon such terms as the authority shall determine to be in the best interest of the authority and the state. Neither a public hearing nor consent of the state (including any officer, official, department or other agency of the state) shall be a prerequisite to issuance of any bonds by the authority.
Nothing in this amendment or in any other provision of the Constitution of Alabama of 1901, as amended, shall prevent the authority from selling and issuing one or more additional series of its bonds which shall be solely revenue obligations of the authority and which shall not create general obligations or debts of the state.
There is hereby created and established a state agency to be known as the Alabama music hall of fame authority which shall be a public body corporate with all the powers and privileges of a corporation, for the purpose of providing for and participating in the management and control of the aforesaid facilities.
The members of the board, and their respective successors as members thereof shall constitute ex officio all the members of the authority. The chairman, vice chairman, secretary and treasurer of the board shall constitute ex officio the chairman, vice chairman, secretary and treasurer respectively of the authority. The authority, at its option, may appoint an assistant secretary who need not be a member of the authority. The members of the authority shall constitute the governing body of the authority. The presence of any four members of the authority shall constitute a quorum for the transaction of business. No vacancy in the membership of the authority or the voluntary disqualification or abstention of any member thereof shall impair the right of a quorum of the authority to act. Should any member of the authority cease to be a member or officer of the board by reason of death, resignation, expiration of his term of office, or for any other reason, then his successor as a member or officer of the board shall take his place as a member or officer, as the case may be, of the authority.
The authority may adopt such rules, regulations and bylaws as it may determine to be necessary or desirable for the conduct of its duties, powers or functions. The authority is authorized and empowered to use the moneys, services, facilities and employees of the board in carrying out its functions or in furthering the objects or purposes of this amendment. Reasonable compensation and expense allowances for members or officers of the authority may from time to time be altered or provided for by legislative act. No member, officer or employee of the authority or the board shall be personally liable for any debt, obligation or liability of the authority, the board or the state.
The authority shall be authorized:
In view of the unique character and complexity of the duties and responsibilities imposed on the authority by this amendment, it is hereby specifically provided that the authority shall have, in addition to the power and the authority enumerated in part III of this amendment, the right, power and authority to:
b. To acquire by rent or lease agreement or otherwise the necessary housing facilities and to establish, improve and enlarge any available facility, including providing it with necessary equipment, furnishings, landscaping and related facilities, including parking areas and ramps, roadways, sewers, curbs and gutters;
c. To enter into such contracts and cooperative agreements with the local, state and federal governments, with agencies of such governments, including the Tennessee valley authority, with private individuals, corporations, associations and other organizations as it may deem necessary or convenient to carry out the purposes of this amendment, such contracts and agreements to include leases to private industry;
d. To borrow money from private sources or such other source as may be acceptable to the authority under such terms and conditions as may be provided by resolution duly adopted by the authority and, in order to provide security for the repayment of any such private loans, to pledge such future revenues from admissions and any other sources as may, from time to time, be necessary or desirable;
e. To issue and sell at any time, and from time to time, its revenue bonds for the purpose of providing funds to acquire, enlarge, improve, equip and maintain any facility and for the payment of obligations incurred for such purposes. The principal and interest on any such revenue bonds shall be payable out of the revenues derived from such facility and as otherwise herein provided;
f. To make such contracts in the issuance of its bonds as may seem necessary or desirable to assure their marketability and to provide for their retirement by a pledge of all or any revenue which may come to the authority from the investment of the proceeds of the sale of such bonds or from any other source whatsoever;
g. To accept public or private gifts, grants and donations;
h. To acquire property by purchase, lease, gift or license;
i. To allocate and expend funds from all donations, income and revenue from any source whatsoever coming into its treasury for the fulfillment and accomplishment of its duties and responsibilities in such manner as may be necessary and appropriate for the perfection of the purposes of this amendment, or to transfer funds from the board to the authority or from the authority to the board;
j. To sell, convey, transfer, lease or donate any property, franchise, grant, easement, license or lease or interest therein which it may own and to transfer, assign, sell, convey or donate any right, title or interest which it may have in any lease, contract, agreement, license or property;
k. To perform such other acts necessary or incidental to the accomplishment of the purposes of this amendment, whether or not specifically authorized in this amendment, and not otherwise prohibited by law.
b. Purchase and acquire items of tangible or intangible personal property;
c. Operate itself or, in its discretion enter into lease agreement with a person or agency of its choosing to operate, all concessions located in or on the grounds and facilities operated by the authority, any such lease agreement to be designated so as to provide maximum services and convenience to the patrons of the exhibit center and to provide reasonable revenue return to the authority.
The authority and the board are arms of the state, existing to carry forth important functions of the state government, and as such they constitute part of the state for purposes of Article I, Section 14 of the Constitution of 1901, as amended, and the members and officers of the authority and the board are state officers for purposes of said Section 14 of the Constitution whose duties and functions are discretionary in nature. No proceeding, notice or approval shall be required for 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 the authority.
Any bonds of the authority may be sold, executed and delivered at any time and from time to time, may be in such forms, denominations, series and numbers, may be such tenor and maturities, may bear such date or dates, may be payable in such installments and at such place or places, may bear interest at such rate or rates payable and evidenced in such manner, and may contain provisions for redemption at the option of the authority at such date or dates prior to their maturity and upon payment of such redemption price or prices, all as shall be provided by the authority in the resolution or resolutions whereunder the bonds are issued. The principal of each series of bonds shall mature in annual installments in such amounts as shall be specified in the resolution or resolutions of the said board under which they are issued, the first of which installments shall mature not later than three years after the date of the bonds of such series and the last of which installments shall mature not later than 30 years after the date of the bonds of the same series.
The bonds shall be signed in the name of the authority by its chairman and the great seal of the state of Alabama, or a facsimile thereof, shall be impressed, printed or otherwise reproduced thereon and shall be attested by the signature of the secretary of the authority; provided that facsimile signatures of said officers may be reproduced on such bonds in lieu of their manually signing the same.
The provisions of this amendment shall be self-executing and no further authorization from the legislature shall be a prerequisite to the validity of any bonds issued hereunder, although the legislature may enact appropriate implementing laws, whether before or after the effective date of this amendment, which are not in conflict herewith. Act No. 87-613, Acts of Alabama 1987, is such an implementing law and shall become effective upon the ratification of this amendment by the qualified electors of this state.
The state is authorized to pay from any of its revenues of whatsoever nature and make available to the authority at any time and from time to time such sums as the authority determines are necessary for the prompt and faithful payment of the principal, the interest and premium (if any) on the bonds of e authority in the event the authority determines that appropriations by the legislature and other revenues of the authority (including bond proceeds) remaining after the payment of operating and other expenses are insufficient for the payment of said principal, interest and premium.
The provisions of this amendment shall be construed liberally, it being the purpose to provide in this state appropriate housing facilities for displaying to the general public exhibits of the authority and the board and for the management and control of displays by such means as may be determined to be feasible and agreed upon by the authority and the board.
§213.36 | BONDS FOR DISPLAY OF CERTAIN EXHIBITS IN MADISON COUNTY
The Alabama Space Science Exhibit Commission or any instrumentality of the state created and established for the purpose of providing for such facility, its management or control, is hereby vested with the authority to provide for the sale and terms of the bonds and the issuance thereof, subject to the approval of the governor. The bonds may be sold, executed and delivered at any time and from time to time, may be in such forms, denominations, series and numbers, may be of such tenor and maturities, may bear such date or dates, may be in registered or bearer form either as to principal or interest or both with rights of conversion into another form, may be payable in such installments and at such place or places, may bear interest at such rate or rates payable and evidenced in such manner, and may contain provisions for redemption at the option of the state to be exercised by said commission at such date or dates prior to their maturity and upon payment of such redemption price or prices, all as shall be provided by the said commission in the resolution or resolutions whereunder the bonds are issued. The principal of each series of bonds shall mature in annual installments in such an amount as shall be specified in the resolution or resolutions of the said commission under which they are issued, the first of which installments shall mature not later than two years after the date of the bonds of such series and the last of which installments shall mature not later than twenty-one years after the date of the bonds of the same series. When each series of bonds is issued, the maturities of the bonds of that series shall, to such extent as may be practicable, be so arranged that during each then succeeding fiscal year of the state the aggregate installments of principal and interest that will mature on all bonds that will be outstanding hereunder, immediately following the issuance of the bonds of that series, will be substantially equal; provided, that the determination by the said commission that the requirements of this sentence have been complied with shall be conclusive of such compliance and the purchasers of the bonds with respect to which such determination is made and all subsequent holders thereof shall be fully protected thereby. None of the bonds shall be sold for less than face value plus accrued interest thereon to the date of delivery, and all of the bonds shall be sold only at public sale or sales, either on sealed bids or at public auction, after such advertisement as may be prescribed by the said commission, to the bidder whose bid reflects the lowest net interest cost to the state computed to the respective maturities of the bonds sold; provided, that if no bid deemed acceptable by the said commission is received all bids may be rejected.
The bonds shall be signed in the name of the state by the governor and countersigned by the chairman of the commission and the great seal of the state of Alabama or a facsimile thereof shall be impressed, printed or otherwise reproduced thereon and shall be attested by the signature of the secretary of state; provided that facsimile signatures of any one or any two (but not all) of said officers may be reproduced on such bonds in lieu of their manually signing the same. Coupons attached to the bonds and representing installments of interest thereon shall be signed with the facsimile signature of the state treasurer, which facsimile signature is hereby adopted as due and sufficient authentication of said coupons.
All bonds issued under the provisions of this amendment, together with the interest income thereon, shall forever be exempt from taxation in this state.
The proceeds from the sale of bonds hereby authorized, after the payment of all expenses of the sale thereof shall be set apart in a special fund in the state treasury to be designated The Alabama Space Science Exhibit Commission Fund; and such proceeds shall be used solely for the purposes, hereinabove enumerated, for which the bonds are authorized to be issued.
The provisions of this amendment shall be self-executing and no further authorization from the legislature shall be a prerequisite to the validity of any bonds issued hereunder. However, the legislature may enact appropriate legislation implementing its provisions.
§213.37 | APPROPRIATION OF CELLULAR RADIO TELECOMMUNICATION SERVICE TAX FUNDS FOR PAYMENT ON OUTSTANDING BONDS OF ALABAMA REVOLVING LOAN FUND AUTHORITY
§213.38 | ROAD BOND ISSUE AMENDMENT
Section 1.
The state is authorized to engage in the construction, improvement, repair and maintenance of public roads, highways, and bridges in the state of Alabama. To this end, and for this purpose, the state is authorized to appropriate funds; and also to issue and sell interest-bearing negotiable state bonds, in an amount not to exceed the sum of twenty-five million dollars ($25,000,000.00) to be issued in such denominations, numbers, and series, and maturing at such time, as may be provided by law; but such bonds shall bear a rate of interest not greater than six per centum per annum, payable semi-annually, and shall be sold at a price not less than the par value thereof. Provided, that no bonds shall be issued or sold under this provision to such an amount that the interest thereon will exceed the net amount of vehicle license tax collected for the year preceding the issuance of same, and which is set apart for the payment of interest on said bonds. The state highway commission or highway department shall locate, construct, and maintain highways and state trunk roads so as to connect each county seat with the county seat of the adjoining county by the most direct or most feasible route, or by a permanent road, having due regard to the public welfare, and to connect the county seats of the several border counties at or near the state line with a public road in the border states. Provided, that in counties which are divided into two or more judicial divisions in each of which regular terms of circuit court are held; the places where said terms of court are held shall likewise be connected with each other. It shall be the duty of said highway commission or highway department to equitably apportion among the several counties the expenditure of both money and labor and the time or times of making such investments. Not less than one-quarter of a million dollars of the proceeds of these bonds shall be set aside and expended by the state highway commission in each county in the state. To create a sinking fund for the prompt and faithful payment of the principal and interest on these bonds and for the construction, maintenance, and improvement of such public highways, roads, and bridges, the legislature shall levy a special annual license or privilege tax on all automobiles, and on all motor driven vehicles which may be used on the public roads and highways of this state. Such bonds when issued shall be a direct obligation of the state, and for the prompt and faithful payment of the principal and interest thereon the full faith and credit of the state is hereby irrevocably pledged, and such bonds shall be exempt forever from all taxes of every kind.§213.39 | STATE ROADS, HIGHWAYS AND BRIDGES - BOND ISSUE
§213.40 | BONDS TO PAY OR RETIRE ALABAMA BRIDGE COMMISSION BONDS
§213.41 | BOND ISSUE FOR ACQUIRING, ETC., PUBLIC ROADS, HIGHWAYS AND BRIDGES IN CONJUNCTION WITH UNITED STATES
§214 | LIMITATION ON STATE PROPERTY TAX RATE
§37-11.40 | LIEN FOR FAILURE TO PAY FEE
§215 | LIMITATION ON COUNTY PROPERTY TAX RATES; SPECIAL COUNTY TAXES FOR PUBLIC BUILDINGS, BRIDGES OR ROADS; DISPOSITION OF REVENUE FROM SPECIAL TAX
§215.01 | ADDITIONAL COUNTY TAXES FOR COUNTY HOSPITALS
§215.02 | SPECIAL TAX FOR HOSPITAL AND PUBLIC HEALTH PURPOSES IN COUNTIES EXCEPT MOBILE, MONTGOMERY AND JEFFERSON
§215.03 | SPECIAL COUNTY TAX FOR PUBLIC HOSPITAL PURPOSES
If a majority of the qualified electors of any county in the state, except Mobile and Jefferson counties, who participate in an election held therein pursuant to the provisions of any amendment to the Constitution heretofore adopted shall vote at such election in favor of the levy and collection of a special county tax, within the limitations provided in such amendment, for any one or more of the purposes included within the meaning of the term public hospital purposes, the proceeds derived from the tax authorized at such election may be applied for any one or more of the purposes for which said tax may be so voted. Whenever the tax shall be voted the governing body of the county may anticipate the proceeds therefrom for any one or more of the purposes for which the tax shall be voted by issuing, without further election, interest bearing tax anticipation bonds, warrants, or certificates of indebtedness of said county payable solely from and secured by a pledge of not exceeding 75% of the annual proceeds from said tax received by the county.
The governing body of each county in which the said tax may be voted shall have the further power to designate as the agency of the county to acquire, construct, equip, operate and maintain public hospital facilities any public corporation heretofore or hereafter organized for hospital purposes in the county under any general law heretofore or hereafter enacted by the legislature. When a public corporation shall be so designated, the proceeds of said tax thereafter collected shall be paid over to it and shall be used by it for any one or more of the purposes for which the tax shall have been voted; provided, that payment of the proceeds of said tax to said public corporation shall be made only to such extent as will not result in the impairment of the obligation of any contract theretofore made with respect to said tax. Said public corporation may anticipate the proceeds from said tax so required to be paid to it by issuing, for any one or more of the purposes for which the tax shall have been voted, the bonds, warrants, or certificates of indebtedness of said public corporation, and may pledge for the payment of the principal thereof and interest thereon not exceeding 75% of the annual proceeds from said tax so paid to it.
Each county in which the tax shall be voted, and in the event a public corporation shall have been designated as the agency of such county pursuant to the provisions hereof then said public corporation, shall have the power to contract with any other county or similar public corporation with respect to the acquisition by purchase, lease, or otherwise, and the construction, equipment, operation, and maintenance of public hospital facilities outside of the county and within any zone or region of which the county may be a part, and which may have heretofore been established or may hereafter be established for public hospital purposes by the legislature or by any agency designated by it, the obligations of such contract to be payable solely out of the proceeds of said tax; provided, that the proceeds of said tax shall not be used outside of the county for any purpose for which the proceeds could not be used in the county, and shall not be used with respect to public hospital facilities located outside of the county if the tax is voted specifically for public hospital facilities located in the county.
No securities issued or contracts made by a county under the authority of this amendment, which are payable solely out of the proceeds of said tax, and no securities issued or contracts made by any such public corporation, whether or not issued or made under the authority of this amendment, shall be construed to be bonds of the county or of a political subdivision thereof within the meaning of section 222 of the Constitution, or construed to create or constitute an indebtedness of the county within the meaning of section 224 of the Constitution. Said securities shall be construed to be negotiable instruments notwithstanding the fact that they may be payable solely from a limited source. All pledges of said tax and all contracts made with respect thereto pursuant to the provisions of this amendment shall take precedence in the order in which they are made and shall create a charge on the proceeds of said tax prior to the expenses of operating and maintaining any public hospital facilities.
In each instance in which a special county tax for any one or more of the purposes included within the meaning of the term “public hospital purposes” has heretofore been authorized at an election held in a county pursuant to the provisions of any amendment to the Constitution heretofore adopted, all provisions of this amendment shall be applicable in said county to the same extent as if said election had been held after the adoption of this amendment.
This amendment shall be self-executing.
§215.04 | USE OF CERTAIN SPECIAL COUNTY TAXES FOR HOSPITAL CARE AND TREATMENT OF INDIGENT RESIDENTS
§215.05 | SPECIAL PROPERTY TAX BY COUNTIES OR MUNICIPALITIES FOR LIBRARY PURPOSES
§216 | LIMITATION ON PROPERTY TAX RATES OF MUNICIPAL CORPORATIONS
§216.01 | MUNICIPAL TAX AMENDMENT
§216.02 | TAX RATES IN CERTAIN MUNICIPALITIES
§216.03 | TAX RATES IN JASPER, CORDOVA, DORA, OXFORD, TALLADEGA, CITRONELLE, GIRARD, ALBANY AND TUSCALOOSA
§216.04 | ADDITIONAL MUNICIPAL TAXES
§216.05 | MUNICIPAL TAXATION FOR CAPITAL IMPROVEMENTS
§217 | CLASSIFICATION OF TAXABLE PROPERTY FOR PURPOSES OF AD VALOREM TAXATION; TAXABLE PROPERTY TO BE TAXED BY STATE, COUNTIES, MUNICIPALITIES, ETC., AT SAME RATE; ASSESSMENT RATIOS FOR PURPOSES OF AD VALOREM TAXATION; INCREASE OR DECREASE OF ASSESSMENT RATIOS BY COUNTIES, MUNICIPALITIES, ETC.; INCREASE OR DECREASE OF AD VALOREM TAX RATES BY COUNTIES, MUNICIPALITIES, ETC.; MAXIMUM AMOUNT OF AD VALOREM TAX; CERTAIN PROPERTY TO BE ASSESSED AT CURRENT USE VALUE AND NOT MARKET VALUE; EXEMPTION OF CERTAIN PROPERTY FROM AD VALOREM TAXATION; INTERPRETATION OF AUTHORITY FOR COUNTIES, MUNICIPALITIES, ETC., TO LEVY TAXES, BORROW MONEY, ETC., IN RELATION TO ASSESSMENT OF PROPERTY; COUNTIES, MUNICIPALITIES, ETC., AUTHORIZED TO LEVY ADDITIONAL AD VALOREM TAX FOR COSTS OF CERTAIN STATEWIDE REAPPRAISAL OF PROPERTY
Class II. All property not otherwise classified.
Class III. All agricultural, forest and single-family owner-occupied residential property, and historic buildings and sites.
Class IV. All private passenger automobiles and motor trucks of the type commonly known as “pickups” or “pickup trucks” owned and operated by an individual for personal or private use and not for hire, rent or compensation.
Class II. 20 per centum.
Class III. 10 per centum.
Class IV. 15 per centum.
(d) With respect to ad valorem taxes levied by the state or by any county, municipality or other taxing authority, no class of taxable property shall have an assessment ratio of less than five per centum nor more than 35 per centum.
(e) A county, municipality or other taxing authority may decrease any ad valorem tax rate at any time, provided such decrease shall not jeopardize the payment of any bonded indebtedness secured by such tax. For the ad valorem tax year beginning October 1, 1978, when the tax assessor of each county shall complete the assembly of the assessment book for his county for that ad valorem tax year and the computation of ad valorem taxes that will be paid upon such assessment, he shall certify to each authority within his county that levies an ad valorem tax the amount of ad valorem tax that will be produced by every levy in that ad valorem tax year but excluding for this purpose any assessment of new taxable property not previously subject to taxation (except “escaped” property as defined by law) added to the tax rolls of such county for the ad valorem tax year in which such certification is made that was not included on the tax rolls for the next preceding ad valorem tax year. Any county, municipality or other taxing authority, at any time not later than September 30, 1979, may increase the rate at which any ad valorem tax is levied by or with respect to that taxing authority above the limit otherwise provided in this Constitution, provided that the amount of the above-described certification of anticipated tax receipts with respect to such tax is less than 120 percent of the actual receipts from such tax for the ad valorem tax year beginning October 1, 1977, such increase to be effective for ad valorem tax years beginning on and after October 1, 1978; provided, that any such millage increase shall not exceed in mills the total of (i) the number of additional mills that is necessary, when added to the millage rate imposed with respect to such tax on each dollar of taxable property situated in the taxing authority for the ad valorem tax year beginning October 1, 1977, to produce revenue that is not less than and that is substantially equal to that received by the taxing authority with respect to such tax during such immediately preceding ad valorem tax year, plus (ii) a number of additional mills equal to 20 percent of the total mills imposed by that taxing authority with respect to such tax on each dollar of taxable property situated in the taxing authority for the ad valorem tax year beginning October 1, 1977. If, for the ad valorem tax year beginning October 1, 1978, the receipts from any ad valorem tax with respect to which any millage rate has been increased pursuant to the immediately preceding sentence are less than 95 percent of the receipts from such ad valorem tax for the ad valorem tax year beginning October 1, 1977, then at any time not later than September 30, 1980, the taxing authority may increase any millage rate with respect to such ad valorem tax in the manner provided in the immediately preceding sentence, such increase to be effective for ad valorem tax years beginning on and after October 1, 1979. It is further provided that all millage adjustments shall be made in increments of not less than one tenth () mill.
(f) On and after October 1, 1979, any county, municipality or other taxing authority may at any time increase the rate at which any ad valorem tax is levied above the limit otherwise provided in this Constitution; provided, that the proposed increase to be made pursuant to this subsection shall have been (1) proposed by the governing body of the taxing authority after a public hearing on such proposal, (2) thereafter approved by an act of the legislature, and (3) subsequently approved by a majority vote of the qualified electors residing in the taxing authority who vote on the proposal at a special election called and held in accordance with the law governing special elections. Any adjustments or other actions authorized to be made or taken pursuant to this subsection and subsection (e) hereof shall be made or taken by resolution of the governing body of such taxing authority, or if there is no such governing body and in the case of a taxing authority other than a municipality, by resolution of the governing body of the county in which such taxing authority is located acting on behalf of such taxing authority. The provisions of subsections (c), (e) and (f) of this section shall not apply to ad valorem taxes levied by the state.
(g) The legislature is authorized to enact legislation to implement the provisions of this section and may provide for exemptions from taxation; provided, that unless otherwise expressly provided, no amendment to this section shall be construed to repeal any statutory exemption existing on the effective date of any such amendment hereto.
(h) Wherever any constitutional provision or statute provides for, limits or measures the power or authority of any county, municipality or other taxing authority to levy taxes, borrow money or incur indebtedness in relation to the assessment of property therein for state taxes or for state and county taxes, such provision shall mean as assessed for county or municipal taxes, as the case may be.
(i) Except as otherwise provided in this Constitution, including any amendment thereto whenever adopted with respect to taxable property located in the city of Mountain Brook, the city of Vestavia Hills, or the city of Huntsville, the amount of ad valorem taxes payable to the state and to all counties, municipalities and other taxing authorities with respect to any item of taxable property described as Class I property shall never exceed 2 percent of the fair and reasonable market value of such taxable property in any one ad valorem tax year, such amount with respect to any item of Class II property shall never exceed 1 percent of the fair and reasonable market value of such taxable property in any one ad valorem tax year, such amount with respect to any item of Class IV property shall never exceed 1 percent of the fair and reasonable market value of such taxable property in any one ad valorem tax year, and such amount with respect to any item of Class III property shall never exceed 1 percent of the fair and reasonable market value of such taxable property in any one ad valorem tax year. Whenever the total amount of ad valorem property taxes otherwise payable by any taxpayer with respect to any item of taxable property shall exceed in any one ad valorem tax year the maximum amount of such taxes permitted by this section, such amount of taxes shall be reduced by subtracting that amount of tax due that is in excess of the amount of tax otherwise permissible under the Constitution. In connection with the taxation of any item of taxable property, the amount of tax to be subtracted with respect to each authority levying and collecting any ad valorem property tax shall be in the same proportion to the total amount of tax to be subtracted that the total number of mills on each dollar of taxable property situated in the taxing authority levied by such taxing authority bears to the total number of mills on each dollar of taxable property situated in the taxing authority levied by all taxing authorities with respect to such item of taxable property. Before sending to any taxpayer any notice relating to the collection of ad valorem taxes, the tax collector in each county shall determine whether any portion of the amount of ad valorem property tax otherwise due with respect to any item of taxable property shall be subtracted pursuant to the provisions of this subsection and shall apportion the amount to be subtracted in accordance with the provisions of this subsection.
(j) Notwithstanding any other provision of this section, on and after October 1, 1978, taxable property defined in subsection (a) hereof as Class III property shall, upon application by the owner of such property, be assessed at the ratio of assessed value to the current use value of such taxable property and not the fair and reasonable market value of such property. The legislature may enact laws uniformly applicable to the state and all counties, municipalities and other taxing authorities establishing criteria and procedures for the determination of the current use value of any eligible taxable property and procedures for qualifying such property for assessment at its current use value. The legislature may also enact laws uniformly applicable to the state and all counties, municipalities and other taxing authorities providing for the ad valorem taxation of any taxable property ceasing to qualify for current use valuation; provided, however, that any additional tax on taxable property ceasing to qualify for current use valuation shall not apply to more than the three ad valorem tax years immediately preceding such cessation of qualification (including as one such year the year in which cessation of qualification occurs).
(k) The following property shall be exempt from all ad valorem taxation: the real and personal property of the state, counties and municipalities and property devoted exclusively to religious, educational or charitable purposes, household and kitchen furniture, all farm tractors, all farming implements when used exclusively in connection with agricultural property and all stocks of goods, wares and merchandise.
(l) Notwithstanding the other provisions of this section, with respect to the costs of reappraisal incident to the state-wide reappraisal of property heretofore authorized by the legislature, each county, municipality or other taxing authority for ad valorem tax years beginning on and after October 1, 1978, may impose and levy an additional ad valorem tax of not more than two mills on all taxable property located in the taxing authority in order to reimburse itself for its payment of such costs of reappraisal or to pay any unpaid costs or its pro rata share of such unpaid costs of reappraisal. The taxes provided for in this subsection, or any pro rata part thereof, shall terminate at the end of the ad valorem tax year in which sufficient funds are received from the taxes to pay in full the said reappraisal costs and any receipts from such taxes that are received during the ad valorem tax year of their termination that are not needed for the purposes specified herein may be used by the taxing authority levying the tax for general purposes of the taxing authority. The taxes authorized in this subsection shall not exceed in the aggregate, with respect to any item of taxable property located in the taxing authority, a total of two mills for all such taxes levied by all taxing authorities in a county and not two mills for each taxing authority in a county. If more than one such taxing authority in a county has paid or owes all or a portion of its reappraisal costs, such two mills shall be prorated among such taxing authorities in the county as they may agree, or if they cannot agree, in the percentage which each such taxing authority’s costs of reappraisal bear to the total costs of reappraisal of all taxing authorities in the county. The provisions of this subsection shall apply only to the costs incurred by a taxing authority incident to the statewide reappraisal of property heretofore authorized by the legislature, the amount of which costs shall be certified by the department of revenue, and shall not be applicable to any future reappraisals that may be required by law.
(m) If any portion of this section should be declared invalid by any court of competent jurisdiction, such invalidity shall not affect the validity of any of the remaining portions of this section, which shall continue effective.
§218 | COUNTIES AND MUNICIPAL CORPORATIONS EXEMPT FROM PAYMENT OF CHARGES PAYABLE FROM STATE TREASURY
§219 | ESTATE TAXES
§219.01 | GAME AND FISH FUND
No funds accruing to the game and fish fund of the state of Alabama from any source whatsoever shall be expended for any other purpose than the payment of administrative costs of the game and fish activities of the department of conservation and for the protection, propagation, preservation, investigation of game and fish and public use of the game and fish resources of this state.
b. All monies derived from the levying or imposition upon any person, firm or corporation of any tax, license, permit, certificate, fee or any other charge, by whatsoever name called, pursuant to the game and fish laws of this state or rules and regulations promulgated thereunder;
c. All monies paid, derived, received or arising from fines, penalties and forfeitures pursuant to the game and fish laws of this state and the rules and regulations promulgated thereunder;
d. All monies derived from the administration and enforcement of the game and fish laws of this state or rules and regulations promulgated thereunder;
e. All monies derived from the sale of hunting and fishing licenses or permits;
f. All monies derived from the sale of lands, timber or other natural resources owned by the game and fish division of the department of conservation;
g. All monies accruing to the game and fish fund from any other source whatsoever.
§219.02 | ALABAMA TRUST FUND
Section 1.
For the continuing benefit of the state of Alabama and the citizens thereof, there is hereby created an irrevocable, permanent trust fund named “the Alabama trust fund” which shall be funded and administered in accordance with the provisions of this amendment.Section 2.
As used in this amendment, the following words and phrases shall have the following respective meanings:- Board
- ”means the board of trustees of the trust fund.”
- Eligible investments
- ”means any of the following:”
(1) Demand deposits (interest bearing) in federally insured banks and interest bearing deposits (whether or not evidenced by certificates of deposit) in federally insured banks; provided, however, that said deposits plus interest shall be fully secured by obligations described in subdivisions (2) and (3) of this definition, to the extent that said deposits plus interest exceed insurance available from the Federal Deposit Insurance Corporation or from any agency of the United States of America that may succeed to the functions of the Federal Deposit Insurance Corporation;
(2) Bonds, notes and other evidences of indebtedness that are direct obligations of the United States of America or that are unconditionally guaranteed as to both principal and interest by the United States of America;
(3) Bonds, debentures, notes or other evidences of indebtedness issued or guaranteed by any federal agencies or government-sponsored enterprises authorized to issue their own debt instruments, including, without limitation to, the following: Federal Farm Credit Bank, Federal Intermediate Credit Banks, the Export-Import Bank of the United States, Federal Land Banks, the Federal National Mortgage Association, the Tennessee Valley Authority, the Governmental National Mortgage Association, the Federal Financing Bank, Federal Banks for Cooperatives, Federal Home Loan Banks, Federal Home and Loan Mortgage Association or the Farmers Home Administration;
(4) Repurchase agreements with federally insured banks or with government bond dealers reporting to and trading with the Federal Reserve Bank of New York, provided that such repurchase agreements are secured by obligations described in subdivisions (2) and (3) of this definition; and
(5) Interest bearing time deposits (whether or not evidenced by certificates of deposit) in savings and loan associations (a) the deposits of which are insured to the maximum extent possible by the Federal Savings and Loan Insurance Corporation or any agency of the United States of America that may succeed to its functions and (b) the principal office of which is located in the state; provided, however, that said deposits plus interest shall be secured by obligations described in subdivisions (2) and (3) of this definition, to the extent that said deposits plus interest exceed insurance available from the Federal Savings and Loan Insurance Corporation or from any agency of the United States of America that may succeed to the functions of the Federal Savings and Loan Insurance Corporation;
(6) Corporate securities, provided, however, that no more than a maximum of 25 percent of the trust capital may be invested in such securities by the Board at any time and provided further that no more than a maximum of one percent of the 25 percent may be invested in any one corporation. The legislature may provide authorization to the Board to invest up to a maximum of 40 percent in corporate securities by a three-fifths vote of the membership of both the house of representatives and the senate. All corporate securities shall at the time of purchase by the Board carry a rating of “A” or better by Moody's and/or Standard and Poors; provided, however, that if neither Moody's nor Standard and Poors is in existence or ceases to issue bond ratings, then, in that event, otherwise eligible corporate securities must carry one of the three highest grade or quality ratings issued by the securities rating firm that, in the opinion of the Board, is recognized as the most reputable. - Federally insured bank
- ”means any bank which has its principal office located in Alabama, whether organized under the laws of the United States of America or the laws of this state, and which is a member of the Federal Deposit Insurance Corporation or which obtains deposit insurance to the maximum extent possible from any agency of the United States of America that may succeed to the functions of the Federal Deposit Insurance Corporation.”
- Fiscal year
- ”means the fiscal year of the state as may from time to time be provided by law.”
- Oil and gas capital payment
- ”means any payment (including any royalty payment) received after August 1, 1984, by the state or any agency or instrumentality thereof as all or part of the consideration for the sale, leasing or other disposition by the state or any agency or instrumentality thereof of any right to explore and drill for or to produce oil, gas or other hydrocarbon minerals in any area on the water side of the high water mark of Mobile Bay or in any other offshore area and shall include any revenue by the state from federal oil and gas leases off the coast of Alabama. Any royalty or other payment, with the exception of any taxes heretofore or hereafter levied that is based upon or determined with respect to, the production of oil, gas or other hydrocarbon minerals and that is paid to the state or any agency or instrumentality thereof regardless of the time of such payment shall be considered an oil and gas capital payment.”
- State
- ”means the state of Alabama.”
- Trust capital
- ”means all assets of the trust fund other than trust income.”
- Trust fund
- ”means “the Alabama trust fund” created by this amendment.”
- Trust income
- ”means the net income received by the state, subsequent to the transfer of the initial trust capital by the state treasurer to the board, from the investment and reinvestment of all assets of the trust fund, determined in accordance with the provisions of this amendment.”
- Trustee
- ”means a member of the board of trustees of the trust fund.”
Section 3.
(b) If at any time there shall be a vacancy among the appointed trustees, a successor trustee shall be appointed to serve for the unexpired term applicable to such vacancy. The appointment of each appointed trustee (other than those initially appointed), whether for a full six-year term or to complete an unexpired term, shall be made by the same officer of the state who appointed the trustee whose term shall have expired or is to expire or in whose position on the board a vacancy otherwise exists and shall be made not earlier than 30 days prior to the date on which such trustee is to take office as such. Each appointed trustee shall hold office from the effective date of his or her appointment by and with the consent of the senate and shall hold office until his or her successor is appointed as provided for herein. Trustees shall be eligible for reappointment without limit as to the number of terms previously served.
(c) At the beginning of each session of the legislature the governor shall certify to the senate for confirmation the names of all who shall have been appointed as trustees since the commencement of the last session of the legislature.
(d) Each appointed trustee shall, at the time of his or her appointment and at all times during his or her term of office, be a qualified elector of the state, and a failure by any trustee to remain so qualified during such term shall cause a vacancy of the office of such trustee. Each appointed trustee shall have recognized competence and experience in the evaluation and management of investments. Any appointed trustee may be impeached and removed from office as a trustee in the same manner and on the same grounds provided in section 174 of the Constitution of Alabama of 1901, or successor provision thereof, and the general laws of the state for impeachment and removal of the officers of the state subject to said section 174 or successor provision thereof. The governor, the state treasurer and the director of finance may not be impeached and removed from office as trustees apart from their impeachment and removal from the respective offices by virtue of which, ex officio, they serve as trustees.
(e) The governor, the state treasurer and the director of finance shall be entitled to vote, and shall perform the duties of trustees, ex officio, without any compensation other than that to which they are respectively entitled as governor, state treasurer and director of finance. Appointed trustees shall be entitled to such compensation for their services as may from time to time be provided by law duly enacted by the legislature, but the power to provide compensation of appointed trustees shall be discretionary with the legislature and nothing in this amendment shall be construed to confer upon such trustees an absolute right to any compensation for their services. Each trustee shall be reimbursed for expenses actually incurred in the performance of his or her duties as a trustee.
(f) A majority of the trustees shall constitute a quorum for the transaction of business by the board, and decisions shall be made on the basis of a majority of the quorum then present and voting, with each trustee to have a single vote. No vacancy in the membership of the board or the voluntary disqualification or abstention of any trustee shall impair the right of a quorum to exercise all of the powers and duties of the board. The governor shall be the chairman and presiding officer of the board. The director of finance shall be vice chairman, and the state treasurer shall serve as secretary. The board may appoint such other officers to perform such duties, not inconsistent with the provisions of this amendment or applicable law, as the board shall deem necessary or appropriate. In addition to such regular meetings of the board as may be provided by law or by bylaws or rules duly adopted by the board, special meetings of the board may be called by the governor acting alone or by any three other trustees acting in concert, in each case upon two days' notice to each trustee given in person or by registered letter or telegram; provided, however, that such notice to each trustee may be waived by such trustee, either before or after the meeting with respect to which such notice would otherwise be required. Any meeting held by the board for any purpose shall be open to the public, except that executive sessions may be held by the board when the character or good name of a person is involved. All proceedings of the board, except executive sessions, shall be reduced to writing on behalf of the board and maintained in the permanent records of the board, a copy of which shall be filed in the principal office of the board and shall be open for public inspection there during regular business hours. The principal office of the board shall be the principal office of the director of finance.
(g) No trustee shall vote on or participate in the discussion or consideration of any matter coming before the board in which such trustee, personally or through family connections or business associations, has any direct or indirect pecuniary interest, including, but without limitation thereto, decisions of the board concerning the investment of moneys constituting part of the trust fund in any deposit or obligation of any bank or corporation in which such trustee may have such an interest. If there shall be brought before the board any matter in which a trustee shall have any interest which may conflict with his or her duties as a trustee, he or she shall immediately make a complete disclosure to the board of such interest and shall thereafter withdraw from participation in any deliberation and decision of the board with respect to such matter.
(h) The board shall have all of the powers necessary to carry out and effectuate the purposes and provisions of this amendment, including, without limiting the generality of the foregoing, the following powers:
(2) To make, enter into and execute contracts, agreements and other instruments and to take such other actions as may be necessary or convenient to accomplish any purpose for which the trust fund was created or to exercise any power expressly, or by reasonable implication, granted by this amendment;
(3) To enter into contracts with, to accept aid and grants from, to cooperate with and to do any and all things that may be necessary in order to avail itself of the aid and cooperation of the United States of America, the state or any agency, instrumentality or political subdivision of either thereof in furtherance of the purposes of this amendment; and
(4) To appoint, employ and contract with such employees, agents, advisors and consultants, including, but not limited to, attorneys, accountants, financial experts and such other advisors, consultants and agents as may in its judgment be necessary or desirable, and to fix their compensation; provided, however, that any obligation created or assumed by the board shall not create any pecuniary obligation or liability of the state or the trust fund other than such as shall be payable out of moneys appropriated by the legislature to defray the expenses of the board in carrying out the purposes of this amendment. No lien or charge against any assets of the trust fund for any purpose whatsoever shall be created by or result from any law enacted by the legislature or any action taken by the board or any other department, agency or instrumentality of the state.
Section 4.
Promptly following the effective date of this amendment, the state treasurer shall take all actions necessary to transfer to the board the possession, control and management of the initial trust capital. If at the time of such transfer into the trust fund all or part of the initial trust capital is invested in certificates of deposit or other investments which cannot be converted into cash prior to the maturity thereof without loss of interest or other penalty, the state treasurer shall directly transfer such certificates of deposit or other investments to the board as part of the initial trust capital without first converting the same into cash. In the event that any certificates of deposit or other investments shall be transferred into the trust fund, the initial trust capital shall not include the income or profit from such certificates of deposit or other investments that has been received by the state on or before such transfer or that constitutes accrued interest, amortized discount or other amounts which in accordance with generally accepted accounting principles, should be considered as having been earned by the state as of the date of such transfer. Any such income or profits from such certificates of deposit or other investments that has been received by the state on or before such transfer shall remain in the general fund subject to appropriation by the legislature. To the extent that any income or profit derived from such certificates of deposits or other investments is referable to any period after the transfer thereof into the trust fund, such income or profit shall not constitute trust capital nor trust income but shall remain in the general fund subject to appropriation by the legislature.
(b) The trust capital shall be augmented by (i) such other moneys or assets as the legislature may by law appropriate and transfer to the trust fund as a permanent part thereof; (ii) such other moneys or assets as may be contributed to the trust fund from any source; and (iii) all proceeds of any oil and gas capital payments as defined in this amendment subsequent to August 14, 1984; provided, however, that the division of lands of the department of conservation and natural resources shall be entitled to one percent of all proceeds of any oil and gas capital payments as defined in this amendment subsequent to August 14, 1984, which sum shall be carried in the state treasury to the credit of the state lands fund. In addition, within 90 days after September 1, 2001, the board of trustees of the Alabama heritage trust fund shall transfer the trust capital of the Alabama heritage trust fund to the Alabama trust fund and shall transfer the trust income of the Alabama heritage trust fund to the state general fund. The trust capital received by the Alabama trust fund from the Alabama heritage trust fund shall thereafter be trust capital of the Alabama trust fund. The Alabama heritage trust fund, the board of trustees of the Alabama heritage trust fund, and all other aspects of the Alabama heritage trust fund shall terminate and dissolve 90 days after September 1, 2001.
(c) Provided, however, beginning with state fiscal year 1989-90, one percent of the income from the Alabama trust fund shall be reinvested in the Alabama trust fund; two percent of such income shall be reinvested in the following year; and one additional percent of such income each subsequent year shall be reinvested until a total of 10 percent of such income from the Alabama trust fund each year shall be reinvested in the Alabama trust fund.
Section 5.
(b) To the extent practicable, the board shall keep all moneys at any time held in the trust fund invested in such eligible investments as shall, in its sole and uncontrolled judgment, produce the greatest trust income over the term of such investments while preserving the trust capital. In making any investment of moneys held in the trust fund, the board shall exercise the judgment and care, under the circumstances prevailing at the time of such investment, which an institutional investor of the highest standard of prudence, intelligence and financial expertise would exercise in the management and investment of large assets entrusted to it not for the purpose of speculative profit but for the permanent generation and disposition of funds, considering the probable safety of capital as well as the expected amount and frequency of income. The board shall have full power and authority to select the eligible investments in which moneys held in the trust fund shall at any time be invested, and, to the extent not inconsistent with any express provision of this amendment, the eligible investments so selected shall be acquired from such issuers, underwriters, brokers or other sellers on such terms and conditions; shall be acquired for purchase prices reflecting such discount below or premium above the par or face amount thereof; shall bear such dates and be in such form, denominations and series; shall mature or be subject to mandatory redemption on such dates; shall bear interest at such rate or rates payable at such intervals or, alternatively, shall provide income to the holder thereof in such manner (including, without limitation thereto, the purchase of such investments at a discount which represents all or part of the income or profit derived therefrom); shall be unsecured or secured in such manner and subject to the provisions of Section 2, paragraphs 2 and 3; shall contain such provisions for prepayment or redemption at the option of the issuer or obligor; and shall contain or be subject to such other provisions as shall, in all of the foregoing respects, be determined by the board in exercise of its sole and uncontrolled judgment. The board shall have full power and authority to invest the trust capital in any eligible investments producing trust income in accordance with such schedule as the board shall, in the exercise of its sole and uncontrolled judgment, determine to be in the best interests of the state, and in determining such schedule the board may emphasize future benefits in preference to near-term needs. The board shall have complete and uncontrolled discretion in making decisions as to when moneys in the trust fund shall be invested, as to the purchase price or other acquisition cost to be paid or incurred in acquiring investments for the trust fund, as to when investments constituting part of the trust fund shall be sold, liquidated or otherwise disposed of, and, as to the amount and nature of the price or other consideration to be received by the trust fund upon the sale, liquidation or other disposition of investments constituting part of the trust fund. No law shall be enacted nor any action taken by the executive department of the state which impairs or interferes with the power, authority and discretion conferred upon the board by this amendment with respect to the acquisition, management, control and disposition of investments at any time constituting part of the trust fund.
(b) To the extent appropriate and not at the time prohibited by law, the board shall use the facilities of the state treasurer in the administration of the trust fund, including, but without limitation thereto, the keeping of records, the management of bank accounts, the transfer of funds and the safekeeping of securities evidencing investments.
(c) The board shall cause an annual audit of the trust fund to be performed for each fiscal year by the state examiners of public accounts or, in the discretion of the board, by an independent certified public accounting firm and shall cause a report of such audit to be prepared in accordance with applicable accounting principles. The board shall cause to be prepared and publicized such financial and other information concerning the trust fund as may from time to time be provided by law duly enacted by the legislature, but in the absence of any law directing the preparation and publication of different reports, the board shall cause to be prepared and made public, within 30 days after the end of each quarterly period in each fiscal year, a report containing (i) a statement of the trust capital then held in the trust fund showing any changes thereto since the last quarterly report, (ii) a statement of the trust income received during the quarterly period in question, (iii) a statement of the investments then held in the trust fund including descriptions thereof and the respective values thereof, (iv) a statement of the trust income received to date during the current fiscal year, and (v) any other information determined by the board to reflect a full and complete disclosure of the financial operations of the fund.
Section 6.
An individual trustee shall not in any way be personally liable for any liability, loss or expense suffered by the trust fund unless such liability, loss or expense arises out of or results from the willful misconduct or wrongdoing of such trustee.Section 7.
This amendment shall be self-executing, but the legislature shall have the right and power to enact laws supplemental to this amendment and in furtherance of the purposes and objectives thereof, provided that such laws are not inconsistent with the express provisions of this amendment.§219.03 | INVESTMENT OF CAPITAL AND INCOME FROM ALABAMA HERITAGE TRUST FUND OR ALABAMA TRUST FUND
Any provision of this Constitution to the contrary notwithstanding, any capital gains realized from the sale of any investments forming a part of either the Alabama heritage trust fund or the Alabama trust fund shall become a part of the trust capital of the fund in which such investments were held and shall be subject to all restrictions applicable to the preservation of such trust capital.
§219.04 | COUNTY AND MUNICIPAL GOVERNMENT CAPITAL IMPROVEMENT TRUST FUND; ALABAMA CAPITAL IMPROVEMENT TRUST FUND
Section I.
The Legislature finds that the capital improvements and technology required by many governmental programs could be more efficiently funded through the establishment of a special trust fund dedicated to funding such improvements. Additionally, municipal and county governments require assistance in the funding of capital improvements. In order to meet these requirements, it is necessary and prudent to redistribute a portion of the Oil and Gas Capital Payments now being paid into the Alabama Trust Fund under Amendment No. 450 to the Constitution of Alabama of 1901 [§ 219.02]. Accordingly, this amendment establishes the County and Municipal Government Capital Improvement Fund and the Alabama Capital Improvement Trust Fund to be administered in accordance with the provisions of this amendment. Finally, the Legislature finds that it is necessary and desirable to issue general obligations bonds for the purposes of (i) making substantial capital improvements to the state dock facilities at the Port of Mobile, (ii) promoting economic development and industrial recruitment in the state, (iii) providing local government match monies required to issue federal grant revenue bonds for road and bridge improvements and (iv) providing funds to municipal governments for infrastructure improvements.Section II.
As used in this amendment, the following words and phrases shall have the following respective meanings:- “Alabama Trust Fund”
- means the irrevocable, permanent trust fund created by Amendment No. 450 to the Constitution of Alabama of 1901 [§ 219.02].
- “Alabama Capital Improvement Trust Fund”
- means one of the special trust funds created by this amendment.
- “Capital Improvements”
- means capital outlay projects that include the planning, designing, inspection, purchasing, construction, reconstruction, improvement, repair or renovation of permanent buildings, docks, structures and sites therefor for the executive, legislative or judicial branches of state government. The term “Capital Improvement” shall also mean the construction or improvement of roads and bridges in the highway system; payment of debt service on the bonded indebtedness issued by the State of Alabama or any public corporation or authority of the State of Alabama; funding economic development and industrial recruitment activities; and the procurement of technical equipment, including computer and telecommunications equipment, required for the operation of any governmental entity.
- “County and Municipal Capital Improvement Trust Fund”
- means one of the special trust funds created by this amendment.
- “Docks Improvements”
- means the acquisition, development, construction, improvement, expansion and modernization of the state docks facilities (including, without limitation, cargo handling facilities) at the Port of Mobile.
- “Docks Improvement Costs”
- means all costs and expenses incurred in connection with the Capital Improvements, including, without limitation, the following:
- “Economic Development Costs”
- means the costs and expenses incurred or to be incurred by the state in connection with economic development projects and the recruitment of industrial prospects to the state including, without limitation, site preparation and infrastructure improvements, the costs of training and educating workers in the state and acquiring and constructing training facilities in the state, together with the costs, expenses and fees incurred in connection with the issuance of General Obligation Bonds for such purposes and the costs for obtaining bond insurance and other forms of credit enhancement on General Obligation Bonds issued for such purposes, and the reimbursement to any person of any of the foregoing costs incurred by such person either for its own account or for the account of the State of Alabama, its agencies or authorities.
- “Fiscal Year”
- means the period beginning October 1 and ending September 30 of the following calendar year.
- “General Fund”
- means the general fund in the State Treasury of the State of Alabama.
- “General Obligation Bonds”
- means bonds, including refunding bonds, to be issued by the State of Alabama for the purpose of financing Docks Improvements Costs, Economic Development Costs, Local Government Match Funds and Municipal Infrastructure Costs, as provided in this amendment.
- “Local Government Match Funds”
- means the monies required to be provided by the State of Alabama as a condition to the issuance of federal grant revenue bonds for road and bridge improvements, together with the costs, expenses and fees incurred in connection with the issuance of General Obligation Bonds for such purposes and the costs of obtaining bond insurance and other forms of credit enhancement on General Obligation Bonds for such purposes.
- “Municipal Infrastructure Costs”
- means the cost of acquiring and constructing municipal infrastructure improvements through the Alabama Department of Transportation, together with the costs, expenses and fees incurred in connection with the issuance of General Obligation Bonds for such purposes and the costs of obtaining bond insurance and other forms of credit enhancement on General Obligation Bonds for such purposes.
- “Oil and Gas Capital Payment”
- means any payment (including any royalty payment) received by the state or any agency or instrumentality thereof as all or part of the consideration for the sale, leasing or other disposition by the state or any agency or instrumentality thereof of any right to explore and drill for or to produce oil, gas or other hydrocarbon minerals in any area on the water side of the high water mark of Mobile Bay or in any other offshore area and shall include any revenue by the state from federal oil and gas leases off the coast of Alabama. Any royalty or other payment, with the exception of any taxes heretofore or hereafter levied, that is based upon or determined with respect to, the production of oil, gas or other hydrocarbon minerals and that is paid to the state or any agency or instrumentality thereof regardless of the time of such payment shall be considered an oil and gas capital payment.
- “Realized Capital Gains”
- means gains from the sale or exchange of assets of the Alabama Trust Fund, other than fixed income assets, to the extent they exceed losses from the sale of such assets. The amount of gain or loss on the sale of an asset shall be determined by subtracting from the proceeds of selling the asset its fair market value as of the end of the immediately preceding fiscal year, or, in the case of the fiscal year in which this amendment is ratified, its fair market value as of the first business day following ratification of this amendment.
- “Trust Income”
- means the Trust Income as defined in Amendment Numbers 450 and 488 to the Constitution of Alabama of 1901 [§§ 219.02 and 219.03].
- “Unrealized Capital Gains”
- means the excess of the fair market value of the Alabama Trust Fund on the last day of the fiscal year over the fair market value of the Trust Fund on the last day of the immediately preceding fiscal year. The fair market value of the Trust Fund on the last day of a fiscal year shall be determined without including the Trust Income for the fiscal year; realized capital gains for the fiscal year; or the fair market value of fixed income assets. For the fiscal year beginning October 1, 2001, the fair market value of the assets on September 30, 2002, shall be determined without regard to the fair market value on the date of transfer of the assets transferred from the Alabama Heritage Trust Fund.
Section III.
Distributions of Trust Income and capital gains earned by the Alabama Trust Fund shall be made annually in accordance with the following:Section IV.
Beginning on October 1 immediately following the ratification of this amendment, 35% of all Oil and Gas Capital Payments paid into the Alabama Trust Fund in any fiscal year shall be transferred by the State Treasurer to the special trust funds created by this amendment in the following manner: (a) an amount equal to seven percent (7%) of all Oil and Gas Capital Payments received by the Alabama Trust Fund during the preceding fiscal year shall be paid into the County and Municipal Government Capital Improvement Trust Fund; and (b) an amount equal to twenty-eight percent (28%) of all Oil and Gas Capital Payments received by the Alabama Trust Fund during the preceding fiscal year shall be paid into the Alabama Capital Improvement Trust Fund.Section VI.
On April 1 of each year, the State Comptroller shall distribute one-half of all Trust Income earned during the preceding fiscal year from the investment of funds contained in the County and Municipal Government Capital Improvement Trust Fund to the Municipal Government Capital Improvement Fund created by Section 11-66-4, Code of Alabama 1975, and one-half of said Trust Income to the County Government Capital Improvement Fund created by Section 11-29-4, Code of Alabama 1975. Distributions of Trust Income to the Municipal Government Capital Improvement Fund shall be administered in accordance with Section 11-66-6, Code of Alabama 1975. Distributions of Trust Income to the County Government Capital Improvement Fund shall be administered in accordance with Section 11-29-6, Code of Alabama 1975.Section VII.
Funds in the Alabama Capital Improvement Trust Fund may be appropriated for Capital Improvements only upon the certification of the Governor, based upon the recommendation of the Director of Finance, that funds are needed for particular Capital Improvements. The Governor's certification for such Capital Improvements shall be contained in his or her budgets for the operation of state government submitted annually to the Legislature. Legislative appropriations from this Fund that are in excess of those contained in the Governor's certification must be accompanied by legislative findings of fact explaining the appropriations that differ from or are in excess of those certified by the Governor. The foregoing notwithstanding, the Legislature may appropriate funds from this trust fund for Capital Improvements upon a recorded majority vote of each house.Section VIII.
The State of Alabama is authorized to become indebted and to sell and issue its interest-bearing General Obligation Bonds, in addition to all other bonds of the state, in an aggregate principal amount not exceeding $350 million. The General Obligation Bonds issued pursuant to this amendment shall be general obligations of the State, and the full faith and credit of the State are hereby irrevocably pledged for the prompt and faithful payment of the principal, interest and redemption premium (if any) on the General Obligation Bonds.Section IX.
The Governor, the Director of Finance, the Commissioner of Revenue, the Chairman of the Senate Finance and Taxation General Fund Committee and the Chairman of the House Ways and Means General Fund Committee are hereby constituted a Bond Commission with full authority, except as herein specified or limited, to determine the terms and conditions of the General Obligation Bonds and to provide for the sale and issuance thereof. No member of the Bond Commission shall receive compensation in any form for any services performed by him or her in and about his or her duties as a member or officer of the Bond Commission. The Bond Commission shall meet at the call of the Governor, who is hereby designated its chairman. Three members of the Bond Commission (at least one of which shall be the Chairman of the Senate Finance and Taxation-General Fund Committee or the Chairman of the Ways and Means-General Fund Committee) shall constitute a quorum for the transaction of business, and all proceedings of the Bond Commission shall be reduced to writing, recorded in a substantial record book and filed with the Director of Finance, who is hereby designated as the Secretary of the Bond Commission and who shall keep the records of the proceedings of the Bond Commission.Section X.
The proceeds of the General Obligation Bonds shall be paid into the State Treasury, shall be kept continually invested pending the expenditure thereof, and shall, together with the income derived from the investment and reinvestment thereof (including income derived from the investment and reinvestment of previously derived income), be retained in one or more separate accounts of the State Treasury until expended for the purposes authorized in this amendment and in the manner provided by law. The proceeds of such General Obligation Bonds, together with the investment income derived from said proceeds, shall be used solely for the purpose of paying Docks Improvement Costs, Economic Development Costs, Local Government Match Funds and/or Municipal Infrastructure Costs. Not more than $50 million of the proceeds of such General Obligation Bonds shall be spent for local government match funds and not more than $15 million of such proceeds shall be spent for municipal infrastructure costs.Section XI.
There is hereby appropriated for the payment of the General Obligation Bonds such monies out of the Alabama Capital Improvement Fund as are necessary to pay principal of, interest on and redemption premium (if any) on the General Obligation Bonds. Monies in the Alabama Capital Improvement Trust Fund are also hereby appropriated for the payment of principal of, interest on and redemption premium (if any) on bonds authorized to be issued pursuant to Amendments Nos. 618, 619 and 620 of the Constitution of Alabama of 1901 [§§ 213.20, 213.19 and 213.21].(b) The costs of acquiring land or rights in land and any costs incidental thereto, including recording fees.
(c) The costs of contract bonds and of insurance of all kinds that may be required or necessary during the acquisition, construction or installation of Docks Improvements.
(d) The costs of architectural and engineering services, including test borings, surveys, environmental mitigation, supervision of construction and the like with respect to Docks Improvements.
(e) The costs of acquiring and installing fixtures and equipment, excavation, removal and demolition of structures, and provisions for drainage, stormwater retention, installation of utilities, and similar facilities, and paving.
(f) Interest accruing with respect to General Obligation Bonds for a period of up to two years after the issuance of such General Obligation Bonds.
(g) All costs, expenses and fees incurred in connection with the issuance of General Obligation Bonds, including, without limitation, all legal, accounting, financial, printing, recording, filing and other fees and expenses.
(h) The costs for obtaining bond insurance, letters of credit, or other forms of credit enhancement or liquidity facilities.
(i) All other costs of a nature comparable to or required in connection with those described.
(j) Reimbursement to any person of any of the foregoing costs incurred by such person either for its own account, or for the account of the State of Alabama and without regard to when incurred.
(a) In any fiscal year in which the Trust Income exceeds $60,000,000, ten percent (10%) of the Trust Income shall be distributed to the Municipal Government Capital Improvement Fund created in Section 11-66-4, Code of Alabama 1975, and ten percent (10%) of the Trust Income shall be distributed to the County Government Capital Improvement Fund created in Section 11-29-4, Code of Alabama 1975. The Director of Finance shall certify such amounts to the State Comptroller, who shall make the required distributions not later than April 15 of the following fiscal year. The distributions provided for in this section shall be in lieu of and not in addition to the distributions required by Sections 11-29-5 and 11-66-5, Code of Alabama 1975. The remainder of the Trust Income shall be paid into the General Fund, except as provided by Amendment 543 to the Constitution of Alabama of 1901. Provided, however, the fiscal year following the first fiscal year that the Forever Wild Land Trust receives fifteen million dollars ($15,000,000) from the trust income of the Alabama Trust Fund, one-fourth () of one percent of the trust income earned from the Alabama Trust Fund shall be allocated to the Alabama Senior Services Trust Fund. This allocation shall increase each fiscal year by one-fourth () of one percent of the trust income earned from the Alabama Trust Fund; provided, however, that in no event shall such trust income paid to the Alabama Senior Services Trust Fund exceed five million dollars ($5,000,000) in any one fiscal year.
(b) Notwithstanding any other provision of this constitution, within 30 days following the end of each fiscal year, the Board of Trustees of the Alabama Trust Fund may transfer up to seventy-five percent (75%) of the realized capital gains for such fiscal year. The amount distributed shall be divided as follows: ten percent (10%) to the County Government Capital Improvement Fund created in Section 11-29-4, Code of Alabama 1975, and ten percent (10%) to the Municipal Government Capital Improvement Fund created in Section 11-66-4, Code of Alabama 1975, and the remainder of such realized capital gains shall be paid into the General Fund, except that a portion of such realized capital gains shall be distributed in the same manner as and deemed to be a part of trust income for purposes of the distributions required under Sections 7 and 13 of Amendment 543 to the Constitution of Alabama of 1901 [§ 219.07].
(c) Notwithstanding any other provision of this constitution, within 30 days following the end of each fiscal year, the Board of Trustees of the Alabama Trust Fund may transfer up to seventy-five percent (75%) of the unrealized capital gains for such fiscal year. The amount distributed shall be divided as follows: ten percent (10%) to the County Government Capital Improvement Fund created in Section 11-29-4, Code of Alabama 1975, and ten percent (10%) to the Municipal Government Capital Improvement Fund created in Section 11-66-4, Code of Alabama 1975, and the remainder of such unrealized capital gains shall be paid into the General Fund except that a portion of such unrealized capital gains shall be distributed in the same manner as and deemed to be a part of trust income for purposes of the distributions required under Sections 7 and 13 of Amendment 543 to the Constitution of Alabama of 1901 [§ 219.07].
Section V.
(b) Funds in the County and Municipal Government Capital Improvement Trust Fund shall be invested by the Board of Trustees in such kinds of investments as are authorized for the investment of the Alabama Trust Fund. All income of such fund (determined in the same manner as Trust Income of the Alabama Trust Fund) shall be deposited into the County and Municipal Government Capital Improvement Trust Fund subject to distribution pursuant to Section VI.
(c) The Board of Trustees shall determine from time to time the asset allocation of investments in the Alabama Trust Fund and shall determine the annual amount of Realized and Unrealized Capital Gains to be transferred to the General Fund. The Secretary-Treasurer of The Retirement Systems of Alabama shall be the initial manager of 50 percent of the assets, and financial institutions and other corporate entities with general trust powers shall be the initial manager or managers of 50 percent of the assets in the Alabama Trust Fund, subject to guidelines provided by the Board of Trustees. The Board of Trustees shall have the power to appoint another person or persons to manage all or any portion of the assets in the Alabama Trust Fund upon a two-thirds vote of the Board of Trustees.
§219.041 | INCREASE IN BONDING AUTHORITY; COMPETITIVE BIDDING
(b) All of the bonds shall be sold only at public sale or sales, either on sealed bids or at public auction, after such advertisement as may be prescribed by the Bond Commission, to the bidder whose bid reflects the lowest true interest cost to the State computed to the respective maturities of the bonds sold; provided, that if no bid deemed acceptable by the commission is received all bids may be rejected.
(c) Relative to issuance expenses, contracts and appointments incurred in connection with the issuance of bonds, the Bond Commission created in Section IX of Amendment 666 to the Constitution of 1901, [§ 219.04] shall contract with businesses or individuals which reflect the racial and ethnic diversity of the state.
(d) In all other respects, the terms and provisions of Amendment 666 to the Constitution of Alabama of 1901, as amended, [§ 219.04] will be unchanged and remain in full force and effect.
§219.042 | MAXIMUM AGGREGATE PRINCIPAL LIMITATIONS ON GENERAL OBLIGATION BONDS
(b) General obligation refunding bonds may be issued by the State from time to time pursuant to the authority contained in Amendment No. 666 to the Constitution of Alabama of 1901, as amended [Section 219.04], in aggregate principal amounts (which may exceed the principal amount of general obligation bonds being refunded) determined by the Bond Commission established pursuant to Section IX of Amendment No. 666 to the Constitution of Alabama of 1901, as amended [Section 219.04]; provided, however, that no such general obligation refunding bonds shall be issued unless (i) the present value of all debt service on such general obligation refunding bonds (computed with a discount rate equal to the true interest rate of such general obligation refunding bonds and taking into account all underwriting discount and other issuance expenses) shall not be greater than 97 percent of the present value of all debt service on the general obligation bonds to be refunded (computed using the same discount rate and taking into account the underwriting discount and other issuance expenses originally applicable to such general obligation bonds to be refunded) determined as if such general obligation bonds to be refunded were paid and retired in accordance with the schedule of maturities (considering mandatory redemption as a scheduled maturity) provided at the time of their issuance; and (ii) the average maturity of such general obligation refunding bonds, as measured from the date of issuance of such general obligation refunding bonds, shall not exceed by more than three years the average maturity of the general obligation bonds to be refunded, as also measured from such date of issuance, with the average maturity of any principal amount of general obligation bonds to be determined by multiplying the principal of each maturity by the number of years (including any fractional part of a year) intervening between such date of issuance and each such maturity, taking the sum of all such products, and then dividing such sum by the aggregate principal amount of general obligation bonds for which the average maturity is to be determined.
(c) The principal amount of general obligation bonds for which provision for payment has been made with proceeds of general obligation refunding bonds (including anticipated investment earnings thereon), shall not be deemed outstanding for purposes hereof.
(d) Except to the extent modified hereunder, the terms and provisions of Amendment No. 666 to the Constitution of Alabama of 1901, as amended [Section 219.04], and Amendment No. 796 to the Constitution of Alabama of 1901, as amended [Section 219.041], shall remain in full force and effect.
§219.043 | DISTRIBUTIONS FROM ALABAMA TRUST FUND FOR ADDITIONAL PAYMENTS TO FUND BONDS
(b) All of the bonds shall be sold only at public sale or sales, either on sealed bids or at public auction, after such advertisement as may be prescribed by the Bond Commission, to the bidder whose bid reflects the lowest true interest cost to the state computed to the respective maturities of the bonds sold; provided, that if no bid deemed acceptable by the commission is received all bids may be rejected.
(c) Relative to issuance expenses, contracts, and appointments incurred in connection with the issuance of bonds, the Bond Commission created in Section IX of Amendment 666 to the Constitution of 1901, shall contract with businesses or individuals which reflect the racial and ethnic diversity of the state.
(d) Bonds issued pursuant to this amendment shall be issued for a maturity of 20 years or less.
(e) All of the proceeds from the bonds shall be distributed to the Armory Commission of Alabama for plans, construction, and maintenance of Alabama National Guard armories.
(f) In addition to any Oil and Gas Capital Payments received by the Alabama Trust Fund paid into the Alabama Capital Improvement Trust Fund pursuant to Amendment 666, so much as shall be necessary of all Oil and Gas Capital Payments received by the Alabama Trust Fund during any fiscal year shall be paid into the Alabama Capital Improvement Trust Fund to pay the principal and interest on the bonds authorized by this amendment.
(g) In all other respects regarding the Alabama Trust Fund, the terms and provisions of Amendment 666 and Amendment 856 to the Constitution of Alabama of 1901, as amended, are unchanged and remain in full force and effect.
§219.05 | DISTRIBUTION OF ALABAMA TRUST FUND INCOME
- Fiscal Year.
- 1. The fiscal year of the state as may from time to time be provided by law.
- County Government Capital Improvement Fund.
- 2. The fund created in Section 11-29-4, Code of Alabama 1975.
- Municipal Government Capital Improvement Fund.
- 3. The fund created in Section 11-66-4, Code of Alabama 1975.
- The Alabama Trust Fund or Trust Fund.
- 4. The fund created by Amendment 450 of the Constitution of Alabama of 1901 [§ 219.02].
- Trust Income.
- 5. The net income received by the state, subsequent to the transfer of the initial trust capital by the State Treasurer to the board of trustees of the trust fund, from the investment and reinvestment of all assets of the trust fund, determined in accordance with the provisions of Amendment 450 of the Constitution of Alabama of 1901 [§ 219.02]. Trust income does not include income which become part of the trust capital of the trust fund, but for the purpose of this amendment shall include the amounts allocated to the Forever Wild Land Trust Fund as provided in Section 7(d) of Amendment 543 of the Constitution of Alabama of 1901 [§ 219.07].
(c) The county government capital improvement fund appropriation shall be distributed to the several counties of the state and shall be paid on April 15 of the fiscal year for which each annual appropriation is made as follows:
(2) The residue of the portion to be paid to the incorporated municipalities in the state shall be distributed among the incorporated municipalities in the state on the basis of the ratio of the population of each municipality incorporated to the total population of all the incorporated municipalities in the state according to the then next preceding federal decennial census.
(f) The State Comptroller shall make all allocations of funds and shall make the distribution and payments thereof pursuant to the allocations provided for in this amendment. All funds allocated to the county government capital improvement fund and to the municipal government capital improvement fund shall only be expended for any purposes as are now or hereafter authorized by general act of the Legislature.
§219.06 | PENNY TRUST FUND ESTABLISHED FOR PROMOTION OF PUBLIC HEALTH AND PUBLIC SCHOOLS
(b) Earnings, including accrued interest and dividends, shall be retained in the penny trust fund, not subject to appropriation until the state treasurer certifies that sufficient moneys exist in the Fund or until the fiscal year which begins in 2000, whichever comes first; then and afterward, only 90 percent of the prior fiscal year's earnings to be subject to appropriation. Capital gains taken on the sale of any securities shall revert to the principal of the penny trust fund.
(c) Funds in the penny trust fund are to be managed and invested by the state treasurer who may receive funds from any source not prohibited by law.
(d) Fifty percent of the earnings subject to appropriation shall be dedicated to the programs and projects which promote the public health, and 50 percent dedicated to the public schools.
(e) The legislature shall have power to implement this amendment by appropriate legislation.
§219.07 | ACQUISITION, MAINTENANCE AND PROTECTION OF UNIQUE LANDS AND WATER AREAS
Section 1. Declaration of Purpose.
The Legislature of Alabama finds that Alabama is endowed with a rich diversity of natural areas having unique ecological systems, plant and animal life, geological formations, wildlife habitats, recreational values and scenic beauty. As a part of the continuing growth of the population and the economic development of the state, it is necessary and desirable that certain lands and waters be set aside, managed and preserved for use as state parks, nature preserves, recreation areas, and wildlife management areas. In order to meet the State's outdoor recreation needs and to protect the natural heritage of Alabama for the benefit of present and future generations, it is the policy of the state to:(b) Protect, to the fullest extent practicable, recreational lands and areas of unique ecological, biological and geological importance; and
(c) Promote a proper balance among population growth, economic development, environmental protection, and ecological diversity. Accordingly, there is hereby established the Alabama Forever Wild Land Trust for the purpose of identifying, acquiring, managing, protecting and preserving natural lands and waters that are of environmental or recreational importance.
Section 2. Definitions.
(2) “Alabama Trust Fund Board” means the board of trustees of the Alabama Trust Fund as established by Amendment 450 to the Alabama Constitution of 1901 [§ 219.02].
(3) “Appraised Value” means that price estimated in terms of money at which the property would change hands between a willing and financially able buyer and a willing seller, neither being under any compulsion to buy or sell.
(4) “Board” means the Board of Trustees of the Alabama Forever Wild Land Trust, as established by Section 4 of this Amendment.
(5) “Commissioner” means the Commissioner of the Alabama Department of Conservation and Natural Resources or any other officer of the state who, by law, shall succeed to his responsibilities.
(6) “Conservation Easement” means a right, whether or not stated in the form of restriction, easement, covenant or condition, in any deed, will, or other instrument executed by or on behalf of the owner of land providing for the retention of properties predominantly in their natural, scenic, open or wooded condition, or as suitable habitat for fish and wildlife, or as recreational lands.
(7) “Dedication” means the transfer to the state of an estate, interest, or right in a natural area to fulfill the purposes of this Amendment.
(8) “Department” means the Alabama Department of Conservation and Natural Resources or any other department or agency of the state that, by law, shall succeed to its functions and responsibilities.
(9) “Final Approval Committee” means a Committee, as established by Section 6 of this Amendment, to be composed of the Governor, the Lieutenant Governor and the Speaker of the House of Representatives.
(10) “Forever Wild Land Trust” means the Alabama Forever Wild Land Trust created by this Amendment.
(11) “Instrument of Dedication” means any written document by which an estate, interest, or right in a natural area is formally dedicated as a natural area preserve.
(12) “Land” or “lands” means real property and any interests therein, including, but not limited to, fee simple titles, ownership interests less than fee simple, leases, easements, licenses, restrictions and use agreements. Such property and interests therein shall also include wetlands, estuarine areas and submerged lands and the waters thereon.
(13) “Natural Area” means any property, whether publicly or privately owned, (a) that retains or has generally reestablished its natural character, though it need not be completely natural and undisturbed, or (b) which is important in preserving rare or vanishing flora and fauna, native ecological systems, fish and wildlife habitats, geological, natural, scenic or similar features of scientific, recreational, or educational value benefitting the citizens of the state.
(14) “Natural Area Preserve” means a natural area that has been dedicated pursuant to Section 12 of this Amendment.
(15) “State” means the State of Alabama.
(16) “Stewardship” means the maintenance, protection, operation, enhancement, and management of lands acquired for the Forever Wild Land Trust.
(17) “Trustee” means a member of the Board of Trustees of the Forever Wild Land Trust.
(18) “Trust income” means the net income received by the state from the investment and reinvestment of all assets of the Alabama Trust Fund, determined in accordance with the provisions of Amendment Number 450 of the Constitution of Alabama of 1901 [§ 219.02].
(19) In dividing the State into geographical regions:
(b) “Northern District” means those counties in the geographical region of the state north of the Central District, as defined above.
(c) “Southern District” means those counties in the geographical region of the state south of the Central District, as defined above.
Section 3. Establishment of Forever Wild Land Trust, Lead Management Agency, and Categories of Lands to be Acquired.
(b) In order to protect the natural heritage and diversity of Alabama for future generations, the state, acting through the Forever Wild Land Trust, will acquire lands, the title of which shall be held in the Alabama Trust Fund, to ensure their protection and use for conservational, educational, recreational or aesthetic purposes. These lands may include, but shall not be limited to, the following: Wetlands, river corridors, lakes and streams, and the banks and shores thereof, springs, riverine, montane, plain, coastal, and other kinds of terrain, geological systems, areas supporting threatened or endangered species, sensitive and ecologically important lands, unusual habitat types, forests and woodlands, fish and wildlife habitats, wilderness areas, unusual assemblages of wildflowers, natural lands, waters or wetlands that will provide public hunting and fishing, lands having other distinctive natural or recreational characteristics, and lands that will constitute suitable additions to the state's system of parks and fish and wildlife management areas.
(c) Property purchased with Forever Wild Land Trust moneys or which become part of the trust property through dedication or by some other means shall be subject to the condemnation of easements, rights-of-way and other necessary rights and estates in property by or on behalf of corporations that construct, own or operate railroads, pipelines for the transportation of oil, gas, fuel or water, hydroelectric or other electric generating facilities and electric lines, telephone transmission lines and other communication facilities, or any other public utility or method of transportation which serves, or is intended to serve, the public convenience and necessity to the same extent and under the same conditions that such lands, if owned by private persons, would be subject to condemnation by such corporations under federal or state law now in effect or hereafter enacted. No use of any such lands as determined by the Board shall constitute a use thereof for public purposes that will require proof of actual necessity by any corporation seeking to condemn such lands.
(d) Notwithstanding any other provision of this Amendment, no property shall be acquired for the Alabama Trust Fund or with moneys from the Forever Wild Land Trust through condemnation or the use of eminent domain.
(e) No funds or assets of the Forever Wild Land Trust derived from any source shall be expended or used to construct or improve buildings, structures or facilities used for human lodging, feeding or entertainment, including, without limitation thereto, hotels and other lodging facilities, restaurants, convention centers and meeting halls, golf courses, dancing or meeting pavilions, tennis courts, recreational dams, exhibition halls, and similar facilities that have a principal purpose not related to the stewardship of properties of the Forever Wild Land Trust, the title of which is held in the Alabama Trust Fund, in their natural state; provided, however, that nothing herein contained shall be construed to prohibit the expenditure of funds allocated to the Stewardship Account for the construction and maintenance of roads, bridges, culverts, drainage facilities, hiking trails, boat launching ramps and other improvements located on Trust Lands to provide reasonable public access thereto, for the construction and maintenance of visitors' centers and facilities, interpretive displays and other facilities for the guidance and education of visitors, for the construction and maintenance of facilities and the acquisition of equipment necessary or appropriate in connection with the performance of stewardship responsibilities (including housing for custodial personnel), or for any other purpose reasonably related to the stewardship responsibilities of the Board.
Section 4. Establishment of Board of Trustees of the Alabama Forever Wild Land Trust.
Section 5. Rights, Powers, and Duties of the Board.
(2) One member shall be the State Forester.
(3) Three members which shall be appointed by the Alabama Commission on Higher Education from Departments of Biology, Zoology, Environmental Sciences and Wildlife Science from eligible four-year institutions of higher education in Alabama. An eligible institution shall consist of a public or private four-year college or university, offering a degree in biology or one of its divisions, and having an enrollment of at least 1500 undergraduate students. There shall be one professional biologist appointed to the Board from eligible institutions in the Northern District of the state, one from such institutions in the Central District of the state, and one from such institutions in the Southern District of the state, as said districts are defined in Section 2 hereof. Each eligible institution in the appropriate geographical region shall be entitled to submit one nomination to the Alabama Commission on Higher Education for the professional biologist trustee from that region on the Board.
(4) One member shall be the Executive Director of the Marine Environmental Sciences Consortium.
(5) There shall be three members from each of the three geographical regions of the state as defined in Section 2 of this Amendment, as follows. Provided, however, at least one appointee by the Governor, at least one appointee by the Lieutenant Governor and at least one appointee by the Speaker of the House of Representatives shall be black. If none of the recommending groups recommend a black to the appointing authority, said appointing authority shall appoint a black on his or her own initiative.
(B) One member from the Central District shall be appointed by the Lieutenant Governor from a list of names presented by Group C and shall serve an initial term of six years. One member from the Central District shall be appointed by the Speaker of the House of Representatives from a list of names presented by Group A and shall serve an initial term of four years. One member from the Central District shall be appointed by the Governor from a list of names presented by Group B and shall serve an initial term of two years.
(C) One member from the Southern District shall be appointed by the Speaker of the House of Representatives from a list of names presented by Group B and shall serve an initial term of six years. One member from the Southern District shall be appointed by the Governor from a list of names presented by Group C and shall serve an initial term of four years. One member from the Southern District shall be appointed by the Lieutenant Governor from a list of names presented by Group A and shall serve an initial term of two years.
(D) Any successor appointments and appointments to vacancies shall be made in the same manner as described in subparagraphs (A), (B) and (C) above, and members appointed after the initial term of that office has expired shall serve for six-year terms, except that no member shall serve consecutive six-year terms.
(E) It is the intent of this Amendment that the eastern and western areas of the three geographical regions of the state shall be represented on the Board of Trustees.
The recommending groups are composed as follows:
(B) “Group B” shall consist of business, industry, trade associations and professional organizations, each having its principal programs extending generally throughout the state, and having a demonstrated concern for balancing economic growth with protection for the environment and increased recreational opportunities, including, but not limited to, the Business Council of Alabama, the Alabama Forestry Association, Alabama Forest Resources Center, the Alabama Farmers Federation, the Petroleum Council of Alabama, the Association of County Commissions of Alabama, and their respective successor organizations.
(C) “Group C” shall consist of non-profit organizations, each having its principal programs extending generally throughout the state, whose demonstrated primary purposes are to promote hunting, fishing, camping or other compatible recreational activities or conservation for such purposes, and whose membership exceeds 750 individual residents of Alabama, including, but not limited to, the Alabama Wildlife Federation, the Alabama State Advisory Council of Ducks Unlimited, Bowhunters of Alabama Inc., the Coastal Land Trust, Inc., the Gulf Coast Conservation Association, the Tennessee Valley Waterfowl Association, the Alabama Rifle and Pistol Association, the Alabama Chapter of the Safari Club International (whether or not those named organizations meet the membership requirement), and their respective successor organizations.
(D) In order to qualify as a recommending organization, each organization not specifically listed in this section must file with the Secretary of State and with the named organizations within the same “group”, by January 1 preceding the date of expiration of term of office of Trustees hereunder, a written statement of intent to nominate persons to serve on the Board. This statement must include a request for designation of the “group” within which the organization plans to nominate Trustees and information demonstrating that the organization qualifies to make such nominations. It shall also include a copy of the organization's charter, stating its purpose. Should the Secretary of State or any of the named organizations within the same group oppose in writing the eligibility of the new organization to nominate members of the Board or the designation of the “group” within which it proposes to nominate members, then the Secretary of State shall determine the eligibility of the applying organization to submit nominations for membership on the Board and, if determined eligible, the “group” within which it shall submit nominations. In making this decision, the Secretary of State shall give due consideration to the views submitted to him by the organizations in the “group” within which the new organization proposes to submit nominations. An organization, together with its affiliates, cannot recommend names to the appointing officials as a member of more than one “group”.
Each organization submitting nominations may submit, to the appropriate appointing official for that position on the Board, the names of not more than two of its members who have the qualifications to serve in the position for which they are being nominated. In the event that no organization within a group recommends names to the appointing official, then that official may appoint a Trustee from that group solely of his own choice.
(E) Terms of office of the initial Trustees shall begin on the January 1 following ratification of this Amendment, or on the first day of the third month following said ratification, whichever shall first occur. Terms of office of successor Trustees shall begin and end on anniversaries of that date. In the case of the initial appointments of Trustees, nominations shall be made to the appropriate appointing officials not later than one month after ratification of this Amendment, and appointments by said officials shall be made by the date of beginning of the initial Trustees' terms of office. Nominations of successor Trustees shall be made to the appropriate appointing officials not later than two months prior to the expiration of the Trustees' terms of office, and said officials shall appoint new Trustees within 30 calendar days after the expiration of said terms. In the event a Trustee resigns or dies, or otherwise vacates his office, the Commissioner or the Secretary of State shall promptly notify the appropriate nominating organizations and shall publish notice of such vacancy once a week for three successive weeks in three newspapers of regional circulation in this state with a request for new nominations from any group that may qualify to do so under the provisions of this Amendment. Nominations for a replacement Trustee shall be made to the appointing official during the 30 calendar days following such death, resignation or other vacation of office, and the appointing official shall appoint a replacement Trustee not later than the end of the next succeeding 30 calendar days thereafter. In the event the appropriate appointing official fails to make an initial appointment or an appointment within said 30-day periods for appointment after expiration of term of office or after death, resignation or other vacation of office, the right to make an appointment to fill that vacancy shall fall to the next appointing official in line of rotation of the Governor to the Lieutenant Governor to the Speaker of the House (with the Governor then to follow the Speaker); and, if that successor appointing official fails to make such appointment within 30 days, then the right to make the appointment shall fall to the next succeeding appointing official, all to the end that there will, as nearly as possible, always be a full complement of Trustees on the Board. Trustees appointed to fill a vacancy other than by reason of expiration of term of office shall serve the remainder of the unexpired term of the Trustee being replaced.
(b) In addition to the site-specific management and allowable use guidelines referred to in Section 9, the Board may recommend to the Department rules, regulations and management criteria, which the Board feels would be beneficial to carrying out the goals and purposes of this Amendment.
(c) The Board shall assist the Department in developing and maintaining an inventory of areas and sites which through acquisition become state natural and/or recreational areas and shall make public as desirable information regarding their location, management, regulation, and permissible public uses.
(d) The Board shall prepare and submit to the Governor and the state Legislature, on or before February 1 of each year, a report which shall describe and account for all expenditures and acquisitions by the Forever Wild Land Trust for the preceding fiscal year, as well as plans for the current fiscal year. The Board shall present this annual report to the public at a public meeting to be held within ten days after February 1 of each year. The public meeting shall be an informal process to present information on the Forever Wild Land Trust to the public and give the public an opportunity to have a dialogue with the Board regarding its future plans and operations.
(e) Before purchasing or acquiring any interest in lands with moneys from the Forever Wild Land Trust, the Board, acting through the Commissioner, or the Commissioner on his own initiative, shall obtain at least two appraisals from certified real estate appraisers. In no event shall the Board expend more than the “appraised value”, as defined in Section 2 of this Amendment, in purchasing such lands; provided, however, that by affirmative vote of at least three-fourths () of the members of the Board, the Board may expend up to 125 percent of the appraised value for such purchase where such action is necessary to accomplish the purposes and goals of this Amendment.
(f) The Board may assume indebtedness on behalf of the Forever Wild Land Trust that may be owed with respect to real or personal property given, donated, contributed or devised to the Forever Wild Land Trust, or that may be secured by a mortgage, deed of trust or security interest covering such property, and to agree to pay such indebtedness from current assets or future revenues of the Forever Wild Land Trust; provided that the present value of all installments of principal and of interest on such indebtedness at the time of the assumption thereof, determined in accordance with accepted principles and using a discount rate equal to the rate of interest payable on such indebtedness, shall be less than 80% of the fair market value of such property as determined by an active public market for such property or an appraisal performed by an independent, professionally qualified appraiser.
(g) The Board may contract for the purchase of tracts or parcels of land in which the purchase price shall be payable in future installments, together with such rate of interest on the unpaid balance of such purchase price as the Board shall determine to be reasonable, and to secure the payment of such installments, together with the interest thereon, by purchase money mortgages on the land so acquired and by a pledge of future revenues committed to the Forever Wild Land Trust, including, without limitation thereto, any portion of the trust income allocated to said trust by Section 7 of this Amendment; provided that such installments shall in no event exceed 80% of the fair market value of such property determined as set forth in the preceding subsection and provided further that the total cumulative indebtedness assumed each year under the preceding sub-section (f) together with the total cumulative indebtedness incurred each year by purchase money mortgages as provided in this sub-section (g) shall be limited to no more than 25% of the trust income allocated to said trust for the preceding year.
(h) The Board may enter into contracts with any person, nonprofit organization, corporation, governmental entity or other entity concerning tracts or parcels of land that constitute desirable acquisitions for the Forever Wild Land Trust pursuant to which such person, nonprofit organization, corporation, governmental entity or other entity will agree to acquire and hold such land, or to hold such land if theretofore acquired by such person, nonprofit organization, corporation, governmental entity or other entity and to sell or donate such land to the Forever Wild Land Trust at some future date, in the interim preserving and managing such land in its natural state subject to such conditions, including the reimbursement of expenses, as the Board shall deem advantageous for the ultimate acquisition and preservation of such land.
(i) The Board may sell, lease or exchange specific properties or interests therein acquired or held by the Alabama Trust Fund for the Forever Wild Land Trust. Any such sale or exchange shall be made at not less than the “appraised value”, as defined in Section 2 of this Amendment; provided, however, that by affirmative vote of at least three-fourths () of the members of the Board, the Board may authorize and direct the Commissioner to sell or exchange property of said trust for not less than 85 percent of the appraised value where such action is necessary to accomplish the purposes and goals of the Amendment. All moneys received from any such sale or lease shall be paid into the Forever Wild Land Trust.
(j) The Board shall establish a technical advisory committee, consisting of the State Forester, the President of the Alabama Chapter of the Wildlife Society, the State Geologist, and any other person whom the Board may desire to appoint, for the purpose of obtaining advice and assistance in performing the Board's functions and duties under this Amendment.
(k) In addition, the Board is authorized at its discretion:
(2) to cooperate or contract with any federal, state or local government agency, private organization, or individual to accomplish any of the purposes and goals of this Amendment, paying any reasonable fees or expenses in connection with such cooperation or contracts from moneys held under or within the Forever Wild Land Trust;
(3) to recommend that moneys paid into the Forever Wild Land Trust be allowed to accumulate, with only the income thereon being spent, or that the corpus or principal of the Forever Wild Land Trust be expended in whole or in part;
(4) to do any and all things necessary to take advantage of federal, state, or local government or private funds donated or obtainable through the use of the Forever Wild Land Trust; and
(5) to adopt, alter and repeal bylaws, regulations and rules in accordance with the provisions of the Administrative Procedure Act for the regulation and conduct of its affairs and business in accordance with the provisions of the Alabama Administrative Procedures Act.
(m) The Commissioner and the Department are hereby specifically authorized and empowered to carry out all directions and recommendations of the Board made hereunder to accomplish the purposes of the Forever Wild Land Trust and this Amendment.
Section 6. Final Approval Committee.
There is hereby established a Final Approval Committee to be composed of the Governor, the Lieutenant Governor and the Speaker of the House of Representatives.Before purchasing or leasing any property, or acquiring any interest therein, with any funds from the Forever Wild Land Trust or selling any properties previously purchased from the Forever Wild Land Trust, the Board shall submit to the Final Approval Committee a written proposal of the purchase, lease, sale or acquisition of any other interest in property. Said proposal shall include a legal description of the property to be purchased, leased or sold; the proposed purchase, lease or sale price; and any additional terms of the sale, purchase, lease or other interest therein. The Final Approval Committee shall approve or disapprove the proposal by a majority vote of the full membership of said Committee within 30 days after the date of submission of the proposal. Failure of the Committee to act within 30 days of submission shall constitute approval of said proposal.
Section 7. Source of Funds.
(2) For the 1993-1994 fiscal year, five percent (5%) of the trust income earned from the Alabama Trust Fund.
(3) For the 1994-1995 fiscal year, six percent (6%) of the trust income earned from the Alabama Trust Fund.
(4) For the 1995-1996 fiscal year, seven percent (7%) of the trust income earned from the Alabama Trust Fund.
(5) For the 1996-1997 fiscal year, eight percent (8%) of the trust income earned from the Alabama Trust Fund.
(6) For the 1997-1998 fiscal year, nine percent (9%) of the trust income earned from the Alabama Trust Fund.
(7) Thereafter, ten percent (10%) of the trust income earned from the Alabama Trust Fund; provided, however, that in no event shall such trust income paid to the Forever Wild Land Trust exceed $15 million in any one fiscal year.
(c) Title to the property acquired from funds in the Forever Wild Land Trust shall be held in the Alabama Trust Fund for the State of Alabama. Provided, however, the Alabama Trust Fund Board shall not have any responsibility for nor any control over the approving or disapproving of the acquisition, disposition or use of any such property. Nothing in this Section or § 219.02 shall be construed so as to require the Alabama Trust Fund Board to have a fiduciary responsibility for the investment of Forever Wild Land Trust funds or the production of income from property acquired by the Board of Trustees of the Forever Wild Land Trust.
(d) The amounts allocated to the Forever Wild Land Trust shall be included in determining whether the trust income received by the state from the Alabama Trust Fund equals or exceeds $60,000,000 for the purposes of the County Government Capital Improvement Act (codified at Sections 11-29-1 through 11-29-7 of the Code of Alabama, 1975, as amended) and the Municipal Government Capital Improvement Act (codified at Sections 11-66-1 through 11-66-7 of the Code of Alabama, 1975, as amended). In no event shall any provision hereof serve to decrease the amount of income from the Alabama Trust Fund which is to be appropriated to the Municipal Government Capital Improvement Fund and the County Government Capital Improvement Fund under the above-referenced acts.
Section 8. Donations of Property.
Any person making a donation of any property or any interest therein, to the state for the purposes of this Amendment, shall receive, irrespective of any other provisions of the income tax laws of the state, twice the ordinary deduction for state income tax purposes for the taxable year in which the property or interest is donated. Provided, however, the value of any such property or interest therein, subject to this double deduction, shall be limited to the actual value of the property, or any interest therein, donated to the state which shall not include any indebtedness, encumbrances or liens assumed by the Forever Wild Land Trust or the value of any interests or rights retained by the donor.For the purposes of this section, the “actual value” of property shall be the appraised value for ad valorem taxation purposes, averaged over the preceding five years.
Section 9. Stewardship Account.
The Alabama Trust Fund Board shall establish a separate account within the Alabama Trust Fund to be known as the Forever Wild Land Trust Stewardship Account. When the Forever Wild Land Trust acquires property or an interest in property pursuant to this Amendment, the Board of Trustees of the Forever Wild Land Trust shall set aside an amount from the Forever Wild Land Trust equal to fifteen percent (15%) of the appraised value of the land acquired, or the land affected if less than a fee interest was acquired. The Alabama Trust Fund Board shall provide for the investment of the Stewardship Account. The Board of Trustees of the Alabama Forever Wild Land Trust may authorize the Department to expend any interest income generated from the investment of funds within the Stewardship Account by the Alabama Trust Fund Board. Provided, however, the Commissioner shall notify the Board of Trustees in writing if he determines that the interest income projected to be generated from the Forever Wild Land Trust Stewardship Account for the next fiscal year will be insufficient to properly manage property acquired by the Forever Wild Land Trust. The Board may authorize by a three-fifths () vote that funds within the corpus of the Forever Wild Land Trust Stewardship Account be expended by the Department for management purposes for the next fiscal year, provided that funds from the Stewardship Account may not be expended to purchase additional property or interests therein. Within one year after the Forever Wild Land Trust acquires any properties pursuant to this Amendment, the Board of Trustees of the Forever Wild Land Trust shall develop management and allowable use guidelines which shall be followed by the Department in the administration and stewardship of that piece of property. The Lands Division of the Department shall, in accordance with such general directions as may be given by the Board of Trustees, coordinate management of properties acquired pursuant to this Amendment and expenditures from the Stewardship Account. All lands will be managed under the multiple-use management principle; to insure that all resource values including recreation, hunting, fishing, boating, hiking, aesthetics, soil, water, forest management and minerals are protected or enhanced. No use will be allowed that is not compatible with the primary purpose for acquiring the land. In coordinating such management within the Department, the Game and Fish Division of the Department shall manage wildlife and fisheries programs; the State Parks Division of the Department shall manage parks programs; the Lands Division of the Department shall manage natural areas programs through its Natural Heritage Program; and the Lands Division of the Department shall manage other activities and programs relating to Forever Wild Land Trust properties. The Forestry Commission shall serve as consultant to the Department for the purpose of managing the forest and forestry resources programs. Any income that may be generated from the property or from any use of said property acquired through the Forever Wild Land Trust shall be treated as interest income of the Alabama Trust Fund and shall accrue to the credit of the general fund of the State of Alabama.The right of the public to hunt and fish on the lands and easements acquired under the provisions of this act shall not be abridged or restricted, subject to such rules, regulations, seasons and limits as are established by the Department of Conservation and Natural Resources.
Section 10. Enforceability of Conservation Restrictions; Recordation; Acquisition and Disposal of Interests.
Such conservation restrictions are interests in land and may be acquired by any governmental body which has power to acquire interests in land, in the same manner as it may acquire other interests in land. Such a restriction or easement may be enforced by injunction or proceeding in equity, and shall entitle the holder of it to enter the land in a reasonable manner and at reasonable times to assure compliance. Such a restriction or easement may be released in whole or in part, by the holder for such consideration, if any, as the holder may determine, in the same manner as the holder may dispose of land or other interest in land, subject to such conditions as may have been imposed at the time of creation of the restriction.
This section shall not be construed to imply that any restriction, easement, covenant or condition which does not have the benefit of this section shall, on account of any provision hereof, be unenforceable. Nothing in this Amendment shall diminish the powers granted by any law to acquire by purchase, gift, eminent domain or otherwise as restricting the use of an existing or future easement, express or implied, in favor of any utility or other holder of an easement for public purpose. The existence of conservation easements or restrictions shall not of itself be proof of value as a measure of damages in any eminent domain proceedings.
(b) When a conservation restriction or easement is held by public body under the program established by this Amendment, the real property subject thereto shall be assessed for taxation purposes on the basis of the true cash value of the property or as otherwise provided by law, less such reduction in value as may result from the granting of the conservation restriction or easement. The value of the interest held by the public body shall be exempt from property taxation to the same extent as other public property.
Section 11. Alabama Natural Heritage Program.
(b) For purposes of this program, the Department, subject to approval by the Board, shall:
Section 12. Dedication of Natural Area Preserves.
(2) Maintain a natural heritage data bank of inventory data and other relevant information for ecologically significant sites supporting natural heritage resources. Information from this data bank may be made available to public agencies and to private institutions or individuals for environmental assessment and land management purposes.
(3) Develop a Natural Heritage Plan which suggests priorities for the protection, acquisition and management of dedicated natural area preserves.
(4) Establish procedures relating to the confidentiality of data and inquiries for information in order to protect natural resources and encourage use by public agencies and private organizations and individuals in planning or conducting their activities.
(b) Dedication of a natural area preserve shall become effective only upon acceptance of the instrument of dedication by the Board and the Commissioner.
(c) The instrument of dedication may:
(2) Define, consistent with the purposes of this Amendment, the respective rights and duties of the owner and of the state and provide procedures to be followed in case of violations of the restrictions;
(3) Recognize and create reversionary rights, transfers upon condition or with limitations, and gifts over; and
(4) Vary in provisions from one natural area preserve to another in accordance with differences in the characteristics and conditions of the several areas.
(e) The Board may enter into amendments to the instrument of dedication upon finding that such amendments will not permit an impairment, disturbance, use, or development of the area inconsistent with the provisions of this Amendment. If the fee simple estate in the natural area preserve is not held by the state under this article, no amendment may be made without the written consent of the owner of the other interests therein.
Section 13. Sunset Provision.
Beginning with the state's 2012-2013 fiscal year and each succeeding fiscal year, all moneys to be paid into the Forever Wild Land Trust shall be paid to the Alabama Trust Fund in the event the Legislature has not provided for the continuation of payments into the Forever Wild Land Trust Fund as provided for in this section, provided that 2.5% of the trust income earned from the investment of funds in the Alabama Trust Fund shall continue to be paid to the Forever Wild Stewardship Account established in Section 9 of this Amendment until such time as the Legislature, by legislative act, determines that interest income earned from the investment of funds within the corpus of the Stewardship Account is sufficient for the proper administration and stewardship of properties acquired from the Forever Wild Land Trust. And provided further, that the Legislature, by legislative act, or by the enactment of a constitutional amendment may continue payment of the revenues provided in Section 7 hereof, or at any time provide for the payment of other revenues, into the Forever Wild Land Trust. At such time as the payment of trust income into the Forever Wild Land Trust shall cease, the percentage of trust income accruing to said trust fund shall be paid into the Alabama Trust Fund each year to become a part of the corpus of the Alabama Trust Fund.Section 14. Amendment Self-Executing.
This Amendment shall be self-executing, but the Legislature shall have the right and power to enact laws supplemental hereto and in furtherance of the purposes and objectives hereof, provided that such laws are not inconsistent with the provisions of this Amendment.Section 15. Severability.
If any provision of this Amendment, or the application of any provision to any entity, person, or circumstance is for any reason adjudged by a court of competent jurisdiction to be invalid, the remainder of this Amendment and its application shall not be affected.§219.08 | FOREVER WILD LAND TRUST
§219.09 | DISTRIBUTIONS FROM ALABAMA TRUST FUND; DISTRIBUTIONS FROM COUNTY AND MUNICIPAL GOVERNMENT CAPITAL IMPROVEMENT TRUST FUND
Section 1.
b. Ten percent (10%) of the amount distributed shall be paid to the Municipal Government Capital Improvement Fund and shall be distributed pursuant to Section 11-66-6, Code of Alabama 1975, as amended.
c. If the constitutional amendment proposed by Act 2011-315 is ratified, then ten percent (10%) of the amount distributed, but not more than fifteen million dollars ($15,000,000) in any one fiscal year, shall be paid to the Forever Wild Land Trust. This distribution shall continue through the fiscal year ending September 30, 2032, and shall not be made after the end of that fiscal year. If the constitutional amendment proposed by Act 2011-315 is not ratified, then one percent (1%) of the amount distributed, but not more than one million dollars ($1,000,000) in any one fiscal year, shall be paid to the Forever Wild Land Trust Stewardship Account.
d. One percent (1%) of the amount distributed, but not more than five million dollars ($5,000,000) in any one fiscal year, shall be paid to the Alabama Senior Services Trust Fund.
e. The remainder of the amount distributed shall be paid to the State General Fund.
(2) Fifty percent (50%) of the amount distributed shall be paid to the Municipal Government Capital Improvement Fund and shall be distributed pursuant to Section 11-66-6, Code of Alabama 1975, as amended.
(d) For purposes of this amendment, “invested assets” means all assets which are invested in accordance with the investment policy statement adopted by the Board of Trustees of the Alabama Trust Fund. Invested assets shall not include investments in land or properties acquired for the Forever Wild Land Trust and vested in the Alabama Trust Fund and shall not include any outstanding and unpaid amounts due to the Education Trust Fund Rainy Day Account or to the General Fund Rainy Day Account.
Section 2.
A County and Municipal Government Capital Improvement Trust Fund Advisory Committee is created. The Committee shall be composed of three members appointed by the Alabama League of Municipalities and three members appointed by the Association of County Commissions of Alabama. The Committee shall serve in an advisory role, and the Board of Trustees of the Alabama Trust Fund shall define the duties of the Committee.Section 3.
Beginning with the state's 2012-2013 fiscal year, whenever funds are withdrawn from the Education Trust Fund Rainy Day Account or the General Fund Rainy Day Account, there shall not be any additional transfer of funds into the County and Municipal Government Capital Improvement Trust Fund, and investment income earned on amounts repaid to the Education Trust Fund Rainy Day Account and the General Fund Rainy Day Account shall not be distributed to the State General Fund.Section 4.
Beginning with the state's 2012-2013 fiscal year and continuing through the state's 2014-2015 fiscal year, there is hereby transferred $145,796,943 annually to the State General Fund from the Alabama Trust Fund.Section 5.
All laws or parts of laws in conflict with this amendment are repealed, including, but not limited to: Those portions of Amendments 450, 543, and 666 to the Constitution of Alabama of 1901, relating to the distribution of trust income, realized capital gains, and unrealized capital gains; Amendment 668 to the Constitution of Alabama of 1901, relating to the distribution of trust income; those portions of Amendment 803 to the Constitution of Alabama of 1901, relating to additional transfers to the County and Municipal Government Capital Improvement Fund and the distribution of investment income on repayments to the Education Trust Fund and State General Fund Rainy Day Accounts; and Sections 11-66-5 and 11-29-5 of the Code of Alabama 1975, as amended, relating to appropriations of trust income to the County and Municipal Government Capital Improvement Trust Funds.This material might help you recover from the damages that lawbreaking judges/lawyers/agencies/organizations have inflicted upon you [and/or the public] (see this example of a Florida judge who outright committed perjury).
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