41-10-593
Section 41-10-593 Use of bond proceeds. The proceeds derived from the sale of bonds
issued by the authority to finance Y2K expenditures shall be deposited in the State Treasury
and shall be carried in a separate fund therein for the account of the authority, which shall
pay therefrom the expenses of issuance thereof. The proceeds from the sale of bonds remaining
after payment of the expenses of issuance thereof shall be retained in the fund and, until
they are paid out, shall be invested by the State Treasurer at the direction of the authority
in eligible investments which mature at such time or times as the state Finance Director shall
direct. Monies in the fund, whether original proceeds from the sale of bonds or the proceeds
of or earnings on the eligible investments, shall be paid out from time to time for the purposes
of this division in orders or warrants issued by or on the direction of the state Finance
Director. After the Finance Director has certified to the State Treasurer...
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16-16-14
Section 16-16-14 Use of bond proceeds for loans to local boards of education. The proceeds
derived from the sale of any bonds issued pursuant to subsection (b) of Section 3 of
Act 98-373 shall be deposited in the State Treasury and shall be carried in a separate fund
therein for the account of the authority, which shall pay therefrom the expenses of issuance
thereof. The proceeds from the sale of the bonds remaining after payment of the expenses of
issuance thereof shall be retained in such fund and, until they are paid out, shall be invested
by the State Treasurer at the direction of the authority in permitted investments which mature
at such time or times as the authority shall direct. Monies in the fund (whether original
proceeds from the sale of the bonds or principal proceeds of matured permitted investments)
shall be available for loan by the authority. The authority is hereby authorized to loan,
and each local board of education is hereby authorized to borrow, such monies under...
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16-16B-9
Section 16-16B-9 (Implementation Conditioned on Separate Legislative Enactment.) Use
of bond proceeds. (a) The proceeds derived from each sale of the Bonds issued pursuant to
this chapter shall be deposited in the State Treasury and shall be carried in a separate fund
therein for the account of the Authority, which shall pay the expenses of issuance therefrom.
The expenses of issuance of the Bonds shall be prorated among the recipients of the proceeds
from the sale of the Bonds in proportions they receive allocations of the proceeds thereunder.
The proceeds from the sale of the Bonds remaining after payment of the expenses of issuance
thereof shall be retained in said fund and, until they are paid out, shall be invested by
the State Treasurer at the direction of the Authority in Permitted Investments maturing at
such time or times as the Authority shall direct. (b) Proceeds from the sale of the Bonds
and the earnings thereon shall be paid out from time to time on orders or warrants...
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41-10-656
Section 41-10-656 Use of bond proceeds. (a) The proceeds derived from the sale of the
bonds shall be deposited in the State Treasury and shall be carried in a separate fund therein
for the account of the authority. The proceeds from the sale of the bonds remaining after
payment of the expenses of issuance thereof shall be retained in such fund and, until they
are paid out, shall be invested by the State Treasurer at the direction of the authority,
in investments that constitute permitted investments, as defined in Division 1. Monies in
such fund, whether original proceeds from the sale of the bonds or principal proceeds of matured
investments, shall be paid out from time to time in orders or warrants issued by or on the
direction of the authority for any one or more of the purposes specified in Section
41-10-654 that may be deemed by the authority to be necessary to comply with any and all commitments
made by the state to the company. (b) Notwithstanding subsection (a), the authority...
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41-10-676
Section 41-10-676 Use of bond proceeds. (a) The proceeds derived from the sale of the
bonds shall be deposited in the State Treasury and shall be carried in a separate fund therein
for the account of the authority. The proceeds from the sale of the bonds remaining after
payment of the expenses of issuance thereof shall be retained in such fund and, until they
are paid out, shall be invested by the State Treasurer at the direction of the authority,
in investments that constitute permitted investments, as defined in the Enabling Act. Monies
in such fund, whether original proceeds from the sale of the bonds or earnings on such proceeds,
shall be paid out from time to time in orders or warrants issued by or on the direction of
the authority for any one or more of the purposes specified in Section 41-10-674 that
may be deemed by the authority to be necessary to comply with any and all commitments made
by the state to any company. (b) Notwithstanding subsection (a), the authority may use...

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41-10-469
Section 41-10-469 Use of proceeds of refunding bonds. The proceeds of refunding bonds
shall be applied, together with any other moneys legally available therefor, to the payment
of the expenses authorized by this article and to the payment of the principal of, premium,
if any, and interest due and to become due on any outstanding bonds to be refunded thereby
and, if so required by resolution of the authority, shall be deposited in the State Treasury
in an interest account to pay interest on refunding bonds, and in the State Treasury in a
reserve account to further secure the payment of the principal of, premium, if any, and interest
on any refunding bonds. The expenses authorized by this article shall include, in addition
to expenses authorized by other sections hereof, all expenses that the board of directors
may deem necessary or advantageous in connection with the sale and issuance of such refunding
bonds, including without limitation, the expenses of selling and issuing such...
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16-16A-9
Section 16-16A-9 Disposition of funds. (a) The proceeds derived from each sale of the
Bonds issued pursuant to this chapter shall be deposited in the State Treasury and shall be
carried in a separate fund therein for the account of the Authority, which shall pay the expenses
of issuance therefrom. The expenses of issuance of the Bonds shall be prorated among the recipients
of the proceeds from the sale of the Bonds in proportions they receive allocations of the
proceeds thereunder. The proceeds from the sale of the Bonds remaining after payment of the
expenses of issuance thereof shall be retained in said fund and, until they are paid out,
shall be invested by the State Treasurer at the direction of the Authority in Permitted Investments
maturing at such time or times as the Authority shall direct. (b) Proceeds from the sale of
the Bonds and the earnings thereon shall be paid out from time to time on orders or warrants
issued by or at the direction of the Authority for any one or more...
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11-85-107
Section 11-85-107 Bonds - Authentication; redemption; sale; refunding; use of proceeds;
security; investment of funds. The bonds of the authority shall be signed by its president
and attested by its secretary and the seal of the authority shall be affixed thereto or a
facsimile of such seal shall be printed or otherwise reproduced thereon; provided, that a
facsimile of the signature of one, but not both, of said officers may be printed or otherwise
reproduced on any such bonds in lieu of being manually subscribed thereon and a facsimile
of the signatures of both of the officers may be printed or otherwise reproduced on such bonds
in lieu of being manually affixed thereof if the authority, in its proceedings with respect
to issuance of the bonds, provides for manual authentication of such bonds. The State Treasurer
shall be registrar, transfer agent, and paying agent for the bonds. The State Treasurer may
designate named individuals who are employees of the state and who are assigned to...
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23-6-9
Section 23-6-9 Disposition of bond proceeds; industrial access road and bridge construction
account; refunding bonds; contracts for construction, etc., of roads and bridges; performance
of work done without contract; property acquired by corporation; roads and bridges constructed
to be part of public highway system; appropriation for road and bridge construction. The proceeds
of all bonds, other than refunding bonds, issued by the corporation, remaining after paying
the expenses of their issuance, shall be turned into the treasury, shall be carried in a special
industrial access road and bridge construction account, and shall be available to be drawn
upon by the corporation, upon the approval of the State Department of Transportation and the
Governor, but solely for the purpose of constructing, reconstructing, and relocating industrial
access roads and bridges and work incidental or related thereto, including the acquisition
of property necessary therefor. Moneys on deposit in the...
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16-16A-7
Section 16-16A-7 Additional findings; bonds authorized; procedures. (a) The Legislature
finds that the number of students attending the several school systems located in those areas
of North Alabama that will be directly impacted by the 2005 BRAC and Subsequent BRAC Actions
will collectively increase by an estimated 9,000 students. As a result, there will be a need
for the construction of additional school facilities as well as the renovation of existing
school facilities. The Legislature also finds that the 2005 BRAC and Subsequent BRAC Actions
will have a positive impact on future receipts to the Education Trust Fund, as the significant
population growth in North Alabama will increase sales, income, and other tax collections.
Thus, it is an efficient use of state funds to allow such revenue growth to help pay for capital
improvement costs associated with BRAC-related school construction. (b) The Alabama Public
School and College Authority is hereby authorized to sell and issue its...
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