Freedom of authority from state supervision and control.

This chapter is intended to aid the state through the furtherance of the purposes of this chapter by providing an appropriate and independent instrumentality of the state with full and adequate powers to fulfill its functions. Except as expressly provided in this chapter, no proceeding, notice, or approval shall be required for the incorporation of the authority or the amendment of its certificate of incorporation, the issuance of any bonds, the execution of any mortgage and deed of trust or trust indenture, or the exercise of any other of its powers. Neither a public hearing nor the consent of Alabama State Department of Finance shall be a prerequisite to the issuance of bonds by the authority.

(Act 2020-72, §18.)