Section 16-65-7 – Proceeds From the Sale of Bonds, Revenues, and Other Funds.
Section 16-65-7 Proceeds from the sale of bonds, revenues, and other funds. (a) After making adequate provision for the payment of the expenses of issuance, the authority is authorized and empowered to use the proceeds of any bonds, together with any other available funds (1) to finance equipment costs through equipment loans to educational institutions […]
Section 16-67-1 – Reciprocity Committee and Fund.
Section 16-67-1 Reciprocity committee and fund. (a) There is created the State Reciprocity Committee. The membership of the committee shall consist of the following members: (1) The Chancellor of the University of Alabama System, or his or her designee. (2) The President of Auburn University, or his or her designee. (3) The President of the […]
Section 16-65-8 – Dedicated Source of Revenue as Security for the Repayment of Equipment Loans.
Section 16-65-8 Dedicated source of revenue as security for the repayment of equipment loans. In order to provide for the funding of an equipment loan by the authority to an educational institution, such educational institution shall establish a dedicated source of revenue to secure the repayment of moneys received from the authority. Such educational institution […]
Section 16-68-1 – (Effective July 1, 2020) Legislative Findings.
Section 16-68-1 (Effective July 1, 2020) Legislative findings. The Legislature makes the following findings: (1) Article I, Section 4 of the Constitution of Alabama of 1901, recognizes that all persons may speak, write, and publish their sentiments on all subjects, and that “no law shall ever be passed to curtail or restrain the liberty of […]
Section 16-65-9 – Refunding Bonds.
Section 16-65-9 Refunding bonds. Any bonds issued by the authority may from time to time be refunded by the issuance, by sale or exchange, of refunding bonds or obligations payable from the same or different sources for the purpose of paying all or any part of the principal of the bonds to be refunded, any […]
Section 16-68-2 – (Effective July 1, 2020) Definitions.
Section 16-68-2 (Effective July 1, 2020) Definitions. For the purposes of this chapter, the following words have the following meanings: (1) BENEFIT. Recognition, registration, the use of facilities of a public institution of higher education for meetings or speaking purposes, the use of channels of communications, and funding sources that are available to student organizations […]
Section 16-65-10 – Investment in Bonds.
Section 16-65-10 Investment in bonds. The State Treasurer may invest any idle or surplus moneys of the state in bonds of the authority. The governing body of any county or municipality is authorized in its discretion to invest any idle or surplus money held in its treasury in bonds of the authority. Such bonds shall […]
Section 16-68-3 – (Effective July 1, 2020) Adoption of Free Expression Policy.
Section 16-68-3 (Effective July 1, 2020) Adoption of free expression policy. (a) On or before January 1, 2021, the board of trustees of each public institution of higher education shall adopt a policy on free expression that is consistent with this chapter. The policy, at a minimum, shall adhere to all of the following provisions: […]
Section 16-65-11 – Exemptions From Taxation, Fees, and Costs.
Section 16-65-11 Exemptions from taxation, fees, and costs. The property and income of the authority, all bonds issued by the authority, the income from such bonds or from any other sources, the interest and other profits from such bonds enuring to and received by the holders thereof, conveyances by and to the authority and leases, […]
Section 16-68-4 – (Effective July 1, 2020) Report to Governor and Legislature Regarding Implementation of Chapter Requirements.
Section 16-68-4 (Effective July 1, 2020) Report to Governor and Legislature regarding implementation of chapter requirements. The boards of trustees of each public institution of higher education shall submit to the Governor and the Legislature a report that details both of the following: (1) The course of action implemented to ensure compliance with the requirements […]