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16-13-106
Section 16-13-106 Records. The county board of education or the city board of education,
as the case may be, shall keep in its minutes a complete record of all warrants issued under
the provisions of this article, which record shall show upon what authority the warrants are
issued, the amounts in which issued, the persons to whom issued, the dates of issue, the purpose
or purposes for which issued, the rate of interest to be paid and the time and place of payment
of each installment of principal and interest. It shall be the duty of the superintendent
of education to prepare in duplicate on the first day of October in each year, and whenever
additional warrants are issued, a record showing all of the information required by this section
as to all warrants then outstanding, and he shall deliver one copy of each such record to
the custodian of county school funds or the treasurer of the city school funds, as the case
may be. (Acts 1939, No. 186, p. 334, ยง 17; Code 1940, T. 52,...
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16-13-99
Section 16-13-99 Place and method of payment. All warrants issued hereunder may be made
payable as to principal and interest at such banks within or without the State of Alabama
as the issuing board of education may designate. The county or city superintendent of education
and the custodian or treasurer of school funds, as the case may be, shall deposit sufficient
funds in such bank designated by the issuing board, as the bank at which its warrants are
payable to meet all maturing installments of principal of and interest on its warrants promptly
as the same shall fall due. The amounts due on principal and interest of school warrants issued
heretofore and hereunder shall be remitted by said banks at par, including any premium due
on called warrants, and without the deduction of exchange, handling, or collection costs from
the amount due the holders of said warrants. Each issuing board of education shall be authorized
to compensate any paying agent bank in an amount deemed reasonable by...
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16-13-93
Section 16-13-93 Form. The following form of warrant shall be valid and sufficient for
warrants issued hereunder, but any other appropriate form may be used: "No. ___ $ ____
State of Alabama county (city) board of education of the County (City) of ____. County, (City,
District No. _____) capital outlay (refunding) school warrant. The county (city) board of
education of the County (City) of ____, Alabama, is indebted to bearer in the sum of ____
dollars and hereby directs the custodian (treasurer) of the public school funds of the county
(city) to pay to bearer the said sum on ____, 2__, with interest meanwhile at the rate of
____. percent per annum payable semiannually to the bearer of the respective coupons therefor
hereto attached, both principal and interest being payable at ____ from the proceeds of a
special tax of $.30 on each $100.00 of taxable property in the said county (in the said city,
in School District No. ____ of the said county) duly authorized to be levied and...
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16-13-98
Section 16-13-98 Preference and payment of warrants and care of fund. All warrants issued
hereunder by a county or city board of education shall be payable solely from the county or
city board of education's apportioned share of the proceeds of the special tax in respect
of which they were issued, but this shall not prohibit their payment from any other funds
which may be available therefor under any other provision of law; provided, that in no event
shall such warrants be payable from such other funds if the effect thereof would be to subject
such warrants to any constitutional debt limit or to any constitutional requirement that they
be authorized by vote of the qualified voters. All warrants issued hereunder shall be preferred
claims against the county or city board of education's apportioned share of said tax as herein
provided. All valid pledges of the said tax heretofore made, whether made to secure warrants
or otherwise, shall remain valid and effective, and successive pledges...
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16-13-90
Section 16-13-90 Purposes for which warrants issued. In any county in which a special
county tax shall have been voted under the constitution for such purpose or for school purposes
generally, and in any school district in which a special district tax shall have been voted
under the constitution for such purpose or for school purposes generally, the county board
of education or the city board of education, as the case may be, with the approval of the
State Superintendent of Education may issue and sell capital outlay warrants for the purposes
of erecting, purchasing, altering, enlarging, improving, repairing and equipping school buildings
and school playgrounds, and buildings for housing and repairing school buses, including sites
for any such buildings and playgrounds; and for the purpose of purchasing school buses; and
for the purpose of acquiring a school building already erected by another government body,
which building is being transferred to the use and jurisdiction of the board...
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16-13-199
Section 16-13-199 Municipality may remain under county board of education; disposition
of tax when city assumes control of schools. When a municipality under the jurisdiction of
a county board of education attains a population of 5,000 or more, according to the last decennial
or any subsequent federal census, the schools of the municipality may remain under control
of the county board by agreement between that board and the city council of the municipality,
which agreement shall be expressed in resolutions adopted by and spread upon the minutes of
the two authorities. If the municipality does not enter into such an agreement, the control
of the school or schools of the territory within the municipality shall be vested in a city
board of education, and thereafter the district school tax collected in the city shall be
paid over to the custodian of city school funds, and the district school tax collected in
the contiguous territory shall be paid over to the custodian of county school...
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19-3-120
Section 19-3-120 Classes of authorized investments; repeal of conflicting statutes.
(a) Unless otherwise authorized or directed by the court having jurisdiction thereof, or by
the will, trust agreement or other document which is the source of authority, a trustee, executor,
administrator, guardian or one acting in any other fiduciary capacity, other than as a trustee
governed by the Alabama Uniform Trust Code, with the exercise of reasonable business prudence,
in addition to any other investments now permitted by law, may invest funds in securities
or investments which, at the time of the making or purchase thereof, are included in one or
more of the following classes: (1) Bonds or other interest-bearing obligations of the United
States of America, or payment of which the United States of America has guaranteed as to both
principal and interest. (2) Bonds issued by the Federal Land Bank, under the act of Congress
of the United States of America, designated as "the Federal Farm Loan...
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40-23-35
Section 40-23-35 Disposition of revenues from tax. (a) Such amount of money as shall
be appropriated for each fiscal year by the Legislature to the Department of Revenue with
which to pay the salaries, the cost of operation and management of the department shall be
deducted, as a first charge thereon, from the taxes collected under the provisions of this
division; provided, that the expenditure of the sum so appropriated shall be budgeted and
allotted pursuant to Article 4 of Chapter 4 of Title 41, and limited to the amount appropriated
to defray the expenses of operating the department for each fiscal year. After the payment
of the expenses, so much of the amount remaining as may be necessary, after first applying
all sums of money received by reason of the application of the surplus in the income tax as
provided by Section 40-18-58, for the replacement in the public school fund of the
three-mill constitutional levy for schools and in the General Fund of the one-mill levy for...
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16-13-109
Section 16-13-109 Investment of unused proceeds in government securities. If any county
or city board of education has issued and sold school warrants under the provisions of this
article for school building purposes and if the proceeds of such warrants cannot now be used
for school building construction due to priority regulations of the government of the United
States, such board shall have the authority to invest the proceeds of such warrant sale in
securities issued by the government of the United States of America having a fixed redemption
value at the option of the holder of not less than the amount originally invested. County
and city boards of education shall have the authority to use for debt service purposes any
interest received on securities issued by the United States government in which the proceeds
of school warrant sales are invested. When it becomes practicable for such boards of education
to construct the school buildings for which said school warrants were originally...
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16-13-70
Section 16-13-70 Issuance authorized; purposes; source of payment. (a) Any county board
of education and any city board of education may issue and sell interest-bearing tax anticipation
warrants for the purpose of paying the costs of erecting, acquiring, providing, constructing,
purchasing, altering, enlarging, improving, repairing and equipping school buildings, school
playgrounds and buildings for housing and repairing school buses, and for the purpose of purchasing
school buses, or for any one or more of such purposes. (b) Warrants issued under the provisions
of this article shall not be general obligations of the board of education issuing such warrants
but shall be payable, as to both principal and interest, solely out of one of the following:
(1) The proceeds of any ad valorem tax voted under the constitution for the purpose of paying
such warrants, or for school purposes generally, and paid, apportioned or allocated to or
for the benefit of the board of education issuing such...
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