2. To lease, sell for cash or on credit, exchange or give and convey any such property described in subdivision 1 above, to any person, firm, association or corporation.
3. To promote local industrial, commercial, or agricultural development and the location of new industries or businesses therein.
4. To become a stockholder in any corporation, association or company.
5. To lend its credit or to grant public moneys and things of value in aid of, or to, any individual, firm, association, or corporation whatsoever.
6. To become indebted and to issue and sell interest-bearing bonds, warrants (which may be payable from funds to be realized in future years), notes or other obligations or evidences of indebtedness, to a principal amount not exceeding fifty percent of the assessed value of taxable property therein as determined for state taxation, in order to secure funds for the purchase, construction, lease or acquisition of any of the property described in subdivision 1 above or to be used in furtherance of any of the other powers or authorities granted in this amendment. Such obligations or evidences of indebtedness may (in addition to any pledge or pledges authorized by subdivision 8 of this amendment) be issued upon the full faith and credit of the county or municipality or may be limited as to the source of their payment.
7. To levy and collect, in addition to all other taxes now authorized or permitted, a special county or municipal privilege license tax or taxes of not exceeding one percent paralleling the state sales and use taxes imposed by chapter 20 of Title 51, Code of Alabama 1940 as amended.
8. To pledge to the payment of any bonds, warrants, notes or other obligations or evidences of indebtedness the annual proceeds from any such special tax or taxes and to obligate itself irrevocably to continue to levy and collect such taxes annually until such obligations or evidences of indebtedness are paid in full and to pledge thereto any rental or sales proceeds of property leased or sold by it.
9. To create a public authority or corporation having such powers, managed and governed by such board or governing body and subject to such limitations as the governing body of Lawrence county or any municipality may impose, by approving and filing a certificate to that effect in the office of the judge of probate or the secretary of state, or their respective successors in function, and to delegate to such public authority or corporation and its board or governing body and all powers and authority conferred in this amendment upon the county and municipalities.
This amendment shall be self-executing; but the legislature shall have the power by general, special or local act to adopt laws supplemental to this amendment or in furtherance of the purposes and objectives hereinabove set forth.
