Section 41-10-673 Powers and duties of the authority.
Section 41-10-673
Powers of the authority.
THIS SECTION WAS AMENDED BY ACT 2009-563 IN THE 2009 REGULAR SESSION, EFFECTIVE MAY 18, 2009. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.
The authority shall have, in addition to all powers heretofore granted to the authority pursuant to the Enabling Act, the following powers and duties:
(1) To sell and issue the bonds authorized herein for the purposes specified herein.
(2) To pledge the pledged revenues as security for the payment of the bonds.
(3) To acquire any real or personal property and to convey the same to the companies or to any local governmental entity with or without consideration.
(4) To lease any real or personal property to the companies or to any local governmental entity for use in any part of the projects.
(5) To mortgage any part of the projects as security for the bonds.
(6) To make, enter into, and execute contracts, agreements, or other instruments necessary to acquire or construct capital improvements to any part of the projects.
(7) To incur ancillary costs, projects costs, and training costs and to pay for the same out of proceeds of the bonds, subject to the provisions of Section 41-10-677.
(8) To cooperate with and provide financial assistance to local governmental entities in order to effectuate the reconstruction and improvement of the flood levees identified in subsection (a) of Section 41-10-674.
(9) To reimburse any company for the payment of training costs incurred by such company pursuant to an agreement with the authority.
(10) To incorporate the Alabama Construction Recruitment Institute pursuant to Section 41-10-640.
(11) To implement a program through the institute providing for the recruitment of, and the promotion of training programs and opportunities for, new construction craft trade workers for the benefit of businesses and industries.
(12) The authority shall dedicate all construction industry fee proceeds to the institute through its secretary.
(13) To approve all financial transactions of the institute through its secretary or other officer as authorized by the authority.
(Act 2001-691, p. 1430, §4; Act 2009-563, §1.)