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 […]
Section 16-65-12 – Venue and Jurisdiction.
Section 16-65-12 Venue and jurisdiction. The authority’s legal situs or residence for the purpose of this chapter shall be Montgomery County. Any action to protect or enforce any rights under the provisions of this chapter shall be brought in the Circuit Court of Montgomery County, Alabama, and the court shall have exclusive original jurisdiction of […]
Section 16-68-5 – (Effective July 1, 2020) Annual Report.
Section 16-68-5 (Effective July 1, 2020) Annual report. (a) By September 1 of each year, the board of trustees of each public institution of higher education shall prepare and disseminate a report for the prior 12-month period ending July 31, that includes all of the following: (1) The date and description of each violation of […]
Section 16-65-13 – Interest of Bondholders Protected; Enforceability.
Section 16-65-13 Interest of bondholders protected; enforceability. While any of the bonds issued by the authority remain outstanding, the powers, duties, or existence of the authority or of any of its officers shall not be diminished or impaired in any manner that will affect adversely the interest and rights of the holders of such bonds. […]