Unless the context plainly indicates otherwise, the following words and terms have the meanings ascribed to them:
(1) AUTHORITY. A public corporation organized under this chapter.
(2) BOARD. The board of directors of an authority organized under this chapter.
(3) BOND. Any bond authorized to be issued under this chapter.
(4) COUPON. Any interest coupon evidencing an installment of interest payable with respect to a bond.
(5) DIRECTOR. A member of a board.
(6) GOVERNING BODY. The body in which the general legislative powers of the municipality are vested.
(7) INDENTURE. A mortgage, an indenture of mortgage, deed of trust, trust agreement, or trust indenture executed by an authority as security for its bonds.
(8) MUNICIPALITY. A Class 2 municipality subject to this chapter.
(9) PARKING FACILITY. Any building, structure, land, right-of-way, equipment, or instrumentality used or useful in either of the following ways:
a. In connection with the construction, enlargement, development, maintenance, or operation of an area or building for off-street or on-street parking of motor vehicles.
b. In connection with the exercise of any power of the authority.
(10) STATE. The State of Alabama.
Last modified: May 3, 2021