Code of Alabama - Title 23: Highways, Roads, Bridges and Ferries - Chapter 6 - Industrial Access Roads and Bridges

• Section 23-6-1 Definitions
  Where used in this chapter the following words and terms shall be given the following respective meanings unless the context hereof clearly indicates otherwise: (1)...
• Section 23-6-2 Purposes of public corporation; supervision of construction by State Department of Transportation; department's power to assign, contract, etc., construction work; construction of chapter
  It is the intention of the Legislature to authorize the incorporation of a public corporation for all of the following purposes: (1) To issue bonds...
• Section 23-6-3 Authority to incorporate
  The Director of Transportation, the State Treasurer, and the Director of Finance may become a corporation, with the powers and authorities hereinafter provided, by proceeding...
• Section 23-6-4 Proceeding to incorporate
  To become a corporation, the Director of Transportation, the State Treasurer, and the Director of Finance shall present to the Secretary of State of Alabama...
• Section 23-6-5 Certificate of incorporation; recording; no fees to be paid to Secretary of State on incorporation or dissolution
  When the application has been made, filed and recorded, as herein provided, the applicants shall constitute a public corporation under the name proposed in the...
• Section 23-6-6 Members, officers, and directors of corporation; vacancies; compensation; record of proceedings; record as evidence
  The applicants named in the application and their respective successors in office shall constitute the members of the corporation. The Director of Transportation shall be...
• Section 23-6-7 Corporate powers
  The corporation shall have the following powers: (1) To have succession by its corporate name without time limit; (2) To sue and be sued and...
• Section 23-6-8 Bonds of corporation; annual appropriation from state Public Road and Bridge Fund
  (a) The bonds of the corporation shall be signed by its president and attested by its secretary and the seal of the corporation shall be...
• Section 23-6-8.1 Annual appropriation from Public Road and Bridge Fund
  The annual appropriation from the Public Road and Bridge Fund shall remain a part of the Public Road and Bridge Fund but still be maintained...
• Section 23-6-9 Disposition of bond proceeds; industrial access road and bridge construction account; refunding bonds; contracts for construction, etc., of roads and bridges; performance of work done without contract; property acquired by corporation; roads and bridges constructed to be part of public highway system; appropriation for road and bridge construction
  The proceeds of all bonds, other than refunding bonds, issued by the corporation, remaining after paying the expenses of their issuance, shall be turned into...
• Section 23-6-10 Revenues of corporation
  For the purpose of providing funds to enable the corporation to pay the principal of, premium, if any, and interest on any bonds issued by...
• Section 23-6-11 State Treasurer to disburse funds
  Out of the revenues appropriated and pledged in Section 23-6-10, the State Treasurer is authorized and directed to pay the principal of, premium, if any,...
• Section 23-6-12 Dissolution of corporation
  At any time when no bonds of the corporation are outstanding the corporation may be dissolved upon the filing with the Secretary of State of...

Last modified: May 3, 2021