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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11-101A-20
Section 11-101A-20 Investments. (a) To the extent permitted by the contracts of the authority
with the holders of its securities and if not otherwise specifically prohibited by any other
provision of this chapter, the authority may invest any portion of the principal proceeds
derived from the sale of any of its securities which is not then needed for any of the purposes
for which the securities were authorized to be issued, the moneys held in any special fund
created pursuant to any resolution or indenture authorizing or securing any of its securities,
and any other moneys of the authority not then needed by it, in any of the following: (1)
Federal securities. (2) Any debt securities that are direct obligations of any agency of the
United States of America. (3) Interest-bearing bank time deposits and interest-bearing bank
certificates of deposit. (4) Money market funds whose investments are restricted to federal
securities. (5) Repurchase agreements with respect to federal securities....
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16-8-15
Section 16-8-15 Consolidation of schools - In two counties - Control. The government and control
of any school in the consolidated territory lying within two counties formed in accordance
with the resolution of the boards shall be vested in the county board of education of the
county in which the school building is located or is to be located, unless otherwise provided
by agreement between the boards of education of the counties concerned. (School Code 1927,
§103; Code 1940, T. 52, §79.)...
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16-8-42
Section 16-8-42 Insurance on schools. The county board of education is charged with the duty
of seeing that every school building whose title is vested in the state, county or school
district is insured for its insurable value and to this end may use a part of the proceeds
of incidental fees, district tax levies or such other funds as may be specifically set apart
for such purpose by the county board of education. (School Code 1927, §134; Code 1940, T.
52, §101.)...
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41-1-9
Section 41-1-9 Issuance of interest bearing securities, etc. In any instance where any bond,
warrant, note, certificate of indebtedness or other securities howsoever designated is authorized
to be issued by the state, or by any county, municipality, board of education, political subdivision,
public instrumentality, public corporation or other public entity howsoever identified; any
such security may bear one or more rates of interest, or no interest, or interest may be payable
through one or more payments which reflect compound interest computed at specified intervals
on accrued but unpaid interest, or through a discount in the sales price for such security
equivalent to compound interest on such security for all or part of the term thereof, or through
any combination of the foregoing methods of providing for the payment of interest, and any
such amounts shall be payable at such time or times as may be provided in the proceedings
authorizing any such security, regardless of the...
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22-21-332
Section 22-21-332 Investment of funds. (a) To the extent permitted by the contracts of the
authority with the holders of its securities and if not otherwise specifically prohibited
by any other provision of this article, the authority may invest any portion of the principal
proceeds derived from the sale of any of its securities which is not then needed for any of
the purposes for which such securities were authorized to be issued, the moneys held in any
special fund created pursuant to any resolution or indenture authorizing or securing any of
its securities, and any other moneys of the authority not then needed by it, in any of the
following: (1) Federal securities; (2) Any debt securities that are direct obligations of
any agency of the United States of America; (3) Interest-bearing bank time deposits and interest-bearing
bank certificates of deposit; and (4) Interest-bearing time deposits and interest-bearing
certificates of deposit of any federally-chartered savings and loan...
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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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41-1-8
Section 41-1-8 Issuance of securities with facsimile signatures of officers and facsimile of
corporate seal. (a) In any instance where any bond, warrant, note, certificate of indebtedness
or other security howsoever designated is authorized to be issued by the state, or by any
county, municipality, board of education, political subdivision, public instrumentality, public
corporation or other public entity howsoever identified and is required or permitted to be
executed, attested, registered other than as to ownership or authenticated by one or more
of its officers or other persons, a facsimile of the signature of any one or more of the officers
or persons executing, attesting, registering or authenticating the same may be imprinted or
reproduced on such security if such security is required to be authenticated by the manual
signature of the duly designated registrar of such securities, or an authorized officer of
such registrar. Any seal required or permitted to be affixed or impressed...
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45-4-244.48
Section 45-4-244.48 Disposition of funds. The proceeds from all taxes collected under this
subpart shall be remitted to Bibb County and deposited in the Bibb County General Fund. Eighty
percent of the net proceeds after the cost of collection shall be distributed to the Bibb
County Board of Education to be used for the acquisition, construction, maintenance, equipping,
and operation of public school facilities, and the board's share of the net proceeds may be
pledged as security for the payment of principal and interest on any indebtedness heretofore
or hereafter issued to provide public school facilities in the county. The remaining 20 percent
of the net proceeds shall be retained by the county and used only for road and bridge construction
and maintenance and public safety purposes. (Act 2019-332, §9.)...
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16-3-30
Section 16-3-30 Administration of gifts and donations. Whenever any property, money or thing
of value is donated to be used for the benefit of the public schools of this state, the State
Board of Education shall have power to administer such trusts as it deems to the best interest
of the school or schools for the benefit of which the donation or gift is made. The board
of education is given complete control of such property and may sell, lease or otherwise dispose
of the property as it deems to the best interest of the school or schools for the benefit
of which such property is donated; or the board of education may convert the same into securities
for handling the property or proceeds therefrom as in its discretion will best promote the
purpose of the trust. (School Code 1927, §627; Code 1940, T. 52, §39.)...
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