Alabama § 14-2-8.1 Powers-Actions to Be Taken Upon Payment of All Bonds Issued by the Authority; Correctional Facilities Maintenance Fund

Alabama Statutes

§ 14-2-8.1 — Powers-Actions to Be Taken Upon Payment of All Bonds Issued by the Authority; Correctional Facilities Maintenance Fund

Alabama § 14-2-8.1

Title 14Criminal Correctional and Detention Facilities

Ch. 2Alabama Corrections Institution Finance Authority

This text of Alabama § 14-2-8.1 (Powers-Actions to Be Taken Upon Payment of All Bonds Issued by the Authority; Correctional Facilities Maintenance Fund) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 14-2-8.1 (2026).

Text

(a)Separate and apart from the power granted to the authority in regard to the Kilby property in Sections 14-2-26 and 14-2-27, and in addition to those powers, the authority shall have the power to sell, convey, and lease all or any part of any real and personal property now or hereafter owned by it, together with the improvements thereon and ancillary thereto, that is not being used by the department as a facility, and the sale of which will not impair the outstanding obligations of the authority, and as an aid to the sale or lease, to cause to be prepared by competent real estate experts a land use map and plan. The authority may lease or sell lands and property owned by it without going through the Lands Division or in any other way complying with the provisions of Title 9, Chapter 15,

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(a) Separate and apart from the power granted to the authority in regard to the Kilby property in Sections 14-2-26 and 14-2-27, and in addition to those powers, the authority shall have the power to sell, convey, and lease all or any part of any real and personal property now or hereafter owned by it, together with the improvements thereon and ancillary thereto, that is not being used by the department as a facility, and the sale of which will not impair the outstanding obligations of the authority, and as an aid to the sale or lease, to cause to be prepared by competent real estate experts a land use map and plan. The authority may lease or sell lands and property owned by it without going through the Lands Division or in any other way complying with the provisions of Title 9, Chapter 15, Article 3. The authority must have duly adopted written policies and procedures governing the sale or lease of the property which invoke open competition and produce the best price, to include obtaining an appraisal, advertising the sale or lease, and conducting the sale by public auction or publicly sought sealed bid. The sale or lease shall be made at public sale or private sale as the authority shall determine to be necessary or desirable.
(b) The award of any property offered for public sale or lease shall be made to the highest responsible bidder unless all bids shall be rejected as inadequate and other public offering shall be made upon notice republished as prescribed above. Any sale shall be for all cash. Each deed or lease to effectuate any sale or lease shall be signed in the name of the authority by its president, to which the seal of the authority shall be affixed and attested by its secretary.
(c) The proceeds of each sale or lease of any such property shall be used first to pay the reasonable and necessary expenses of the sale or lease, and the balance remaining shall be deposited into the Correctional Facilities Maintenance Fund.
(d) The department shall maintain all facilities not being used for the purposes designated in Section 14-2-1(7), and designated for sale, lease, demolition, or other disposition, so long as title thereto is held by the authority, to enable the authority to achieve the best possible price or other result upon the sale, lease, or other disposition thereof.
(e) Upon request of the authority, the department shall convey to the authority any real and personal property to which the department holds title and acquired with proceeds of the authority’s bonds or income thereon.