Section 23-8-3 – Definitions.
Section 23-8-3 Definitions. Definitions. When used in this chapter, the following words and phrases shall have the following respective meanings unless the context clearly indicates otherwise: (1) ALDOT. The Alabama State Department of Transportation provided for in Section 23-1-20. (2) ATRIP-II COMMITTEE. The Alabama Transportation Rehabilitation and Improvement Program Committee-II established pursuant to this chapter. […]
Section 23-8-4 – Rebuild Alabama Fund.
Section 23-8-4 Rebuild Alabama Fund. There is hereby created the Rebuild Alabama Fund in the State Treasury. All proceeds from the revenues designated to the fund pursuant to the Rebuild Alabama Act less the cost of collection authorized by law shall be deposited into the fund to be expended only as provided in the Rebuild […]
Section 23-8-5 – Program Purposes; Annual Report.
Section 23-8-5 Program purposes; annual report. (a) The net tax proceeds allocated to ALDOT in subsection (c) of Section 40-17-371 shall be used for the following program purposes, and ALDOT shall annually report the results of the programs and itemize the specific projects to the Permanent Joint Transportation Committee of the Alabama Legislature in compliance […]
Section 23-8-6 – Approved Contractors and Suppliers; Bidding.
Section 23-8-6 Approved contractors and suppliers; bidding. (a) All county and municipal projects let to contract shall utilize contractors and material suppliers listed on the ALDOT’s list of approved contractors and suppliers. ALDOT’s list of approved contractors and material suppliers shall include the ALDOT’s Certified Disadvantaged Business Enterprise List. Beginning October 1, 2020, and October […]
Section 23-8-7 – Alabama Transportation Rehabilitation and Improvement Program-Ii Committee.
Section 23-8-7 Alabama Transportation Rehabilitation and Improvement Program-II Committee. (a) There is hereby created the Alabama Transportation Rehabilitation and Improvement Program-II (ATRIP-II) Committee. The appointing authorities shall coordinate their appointments to assure the committee membership is inclusive and reflects the racial, gender, geographic, urban, rural, and economic diversity of the state. All members of the […]
Section 23-8-8 – Deposit and Use of Funds; Audit; Annual Plan.
Section 23-8-8 Deposit and use of funds; audit; annual plan. (a) The monies paid to counties or municipalities pursuant to Section 40-17-371 shall be deposited into a separate fund maintained by the county or municipality and expended only for one or more of the following: (1) The maintenance, improvement, replacement, and construction of roads and […]
Section 23-7-24 – Validity of Signatures on Bonds.
Section 23-7-24 Validity of signatures on bonds. If any of the members or officers of the bank cease to be members before the delivery of any bonds signed by them, their signatures or authorized facsimile signatures are nevertheless valid and sufficient for all purposes as if they had remained in office until the delivery of […]
Section 23-7-25 – Limitation on Amendments.
Section 23-7-25 Limitation on amendments. Subsequent amendments to this chapter may not limit the rights vested in the bank with respect to any agreements made with, or remedies available to, the holders of bonds issued under this chapter before the enactment of the amendments until the bonds, with all premiums and interest on them, and […]
Section 23-7-26 – Taxation of Bonds and Income.
Section 23-7-26 Taxation of bonds and income. Any bonds issued by the bank, the transfer of bonds, and the income from them, are free from taxation and assessment of every kind by the state and by the local governments and other political subdivisions of the state. (Act 2015-50, §26.)
Section 23-7-27 – Construction and Use of Bonds.
Section 23-7-27 Construction and use of bonds. (a) The bonds issued by the bank are legal investments in which all public officers or public bodies of the state, its political subdivisions, all municipalities and political subdivisions, all insurance companies and associations and other persons carrying on insurance business, all banks, bankers, banking associations, trust companies, […]