Municipal Electric Authority.

  1. Law
  2. Code of Alabama
  3. Counties and Municipal Corporations.
  4. Provisions Applicable to Municipal Corporations Only.
  5. Municipal Electric Authority.

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Section
11-50A-1

Definitions.

Section
11-50A-2

Legislative Intent.

Section
11-50A-3

Purpose of Authority.

Section
11-50A-4

Application for Incorporation.

Section
11-50A-5

Issuance and Recording of Certificate of Incorporation; No Fees to Be Paid.

Section
11-50A-6

Board of Directors; Election Committee; Meetings; Officers; Compensation; Recordkeeping.

Section
11-50A-7

Tax Exemptions; Payments in Lieu of Taxes.

Section
11-50A-8

Powers of the Authority.

Section
11-50A-9

Issuance of Bonds; Prerequisites; Procedure; Provisions; Execution; Bond Resolution Covenants.

Section
11-50A-10

Validation of Bonds.

Section
11-50A-11

Validation of Contracts.

Section
11-50A-12

Bond Provisions; Destroyed Bonds; Interest; Cancellation; Paying Agents.

Section
11-50A-13

Immunity From Liability; Credit Not Pledged.

Section
11-50A-14

Right to Receivership Upon Default.

Section
11-50A-15

Negotiability of Bonds.

Section
11-50A-16

Bonds as Legal Investments.

Section
11-50A-17

Contracts for Use of Projects; Purchase of Electric Power; Payment of Charges; Indemnity; Enforcement of Performance.

Section
11-50A-18

Revenues of Authority; Rates; Assignment to Trustee; Use of Revenues.

Section
11-50A-19

Pledge of Revenues.

Section
11-50A-20

Trust Agreement.

Section
11-50A-21

Proceeds of Bonds.

Section
11-50A-22

Issuance of Bond Anticipation Notes and Notes.

Section
11-50A-23

Trust Funds.

Section
11-50A-24

Jurisdiction of Actions.

Section
11-50A-25

Public Service Commission Review and Regulation.

Section
11-50A-26

Provisions of Resolution, Agreement, Chapter, etc., as Irrevocable Contract With Holders of Bonds, Notes, Etc.

Section
11-50A-27

Dissolution of Authority.

Section
11-50A-28

Exemption From Alabama Sunset Law.

Section
11-50A-29

Exemption From Competitive Bid Laws.

Section
11-50A-30

Construction.

Section
11-50A-31

Effectiveness of Pledges and Security Interests.

Section
11-50A-32

Powers Declared Supplementary.

Section
11-50A-33

Severability.