Ala. Code § 45-2-42.05

Current through the 2024 Regular Session.

Section 45-2-42.05 - Powers of authority

The authority may do all of the following as they relate to the purpose of the authority:

(1) Acquire by purchase, rent, lease agreement, gift, or otherwise, necessary facilities and properties and to provide those facilities and properties with necessary equipment, furnishings, landscaping, and related facilities, including parking areas and ramps, roadways, sewers, curbs, and gutters.

(2) Finance, by loan, grant, lease, or otherwise, construct, erect, assemble, purchase, acquire, own, repair, remodel, renovate, rehabilitate, modify, maintain, extend, improve, install, sell, equip, expand, add to, operate, or manage property, and to pay the cost of any such project from the funds of the authority, or from any contributions by individuals, corporations, limited or general partnerships, or other public or private entities, all of which the authority may receive and accept and use.

(3) Execute and deliver mortgages and deeds of trust and trust indentures, or either.

(4) Enter into contracts and cooperative agreements with and accept grants from local, state, or federal governments, agencies of the government, private individuals, corporations, associations, and other organizations as the authority deems necessary or convenient to carry out the public purposes of the authority.

(5) Accept public or private gifts, grants, and donations.

(6) 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.

(7) Employ personnel as may be necessary or convenient to accomplish the public purposes of this part. Any personnel employed by the authority shall serve at the pleasure of the board of directors. The board of directors shall fix the compensation of the personnel and the compensation shall be paid from any funds of the authority. The board of directors shall designate the duties of the personnel.

(8) Perform other acts necessary or incidental to the accomplishment of the public purposes of the authority, including, but not limited to, the employment of legal and accounting assistance, whether or not the acts are specifically authorized by this part.

Ala. Code § 45-2-42.05 (1975)

Added by Act 2022-414, § 6.