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 23-7-8 – Loans and Financial Assistance; Eligible and Qualified Projects.
Section 23-7-8 Loans and financial assistance; eligible and qualified projects. (a) The bank may provide loans and other financial assistance to a government unit to pay for all or part of the eligible cost of a qualified project. The term of the loan or other financial assistance must not exceed the useful life of the […]
Section 23-7-9 – Financing Agreements; Other Authorized Financing; Security Interests.
Section 23-7-9 Financing agreements; other authorized financing; security interests. (a) Qualified borrowers may obtain loans or other financial assistance from the bank through financing agreements. Qualified borrowers entering into financing agreements and issuing loan obligations to the bank may perform any acts, take any action, adopt any proceedings, and make and carry out any contracts […]
Section 23-7-10 – Essential Governmental Function of Bank; Taxation.
Section 23-7-10 Essential governmental function of bank; taxation. The bank is performing an essential governmental function in the exercise of the powers conferred upon it and is not required to pay taxes or assessments upon property or upon its operations or the income from them, or taxes or assessments upon property or loan obligations acquired […]
Section 23-7-11 – Failure to Collect or Remit Funds Due; Withholding of Funds.
Section 23-7-11 Failure to collect or remit funds due; withholding of funds. (a) If a government unit fails to collect and remit in full all amounts due to the bank on the date these amounts are due under the terms of any note or other obligation of the government unit, the bank shall notify the […]