Alabama § 16-16B-10 (Implementation Conditioned on Separate Legislative Enactment.) Disposition of Funds

Alabama Statutes

§ 16-16B-10 — (Implementation Conditioned on Separate Legislative Enactment.) Disposition of Funds

Alabama·Title 16 Education·Ch. 16B Alabama Ahead Act

Notwithstanding any of the foregoing and in addition to all powers heretofore granted to the Authority, the Authority is hereby expressly authorized to use the proceeds derived from the sale of Bonds and income on Permitted Investments in accordance with the provisions of this chapter. The Authority is hereby expressly permitted to pay to the Department of Finance and the State Treasurer’s Office, from time to time and from any funds available to the Authority, amounts to offset costs incurred in the administration of the business of the Authority. The cost of such compensation shall be prorated among the recipients of proceeds of the Bonds in the same manner as the expenses of issuance of the Bonds are required hereby to be prorated.

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Notwithstanding any of the foregoing and in addition to all powers heretofore granted to the Authority, the Authority is hereby expressly authorized to use the proceeds derived from the sale of Bonds and income on Permitted Investments in accordance with the provisions of this chapter. The Authority is hereby expressly permitted to pay to the Department of Finance and the State Treasurer’s Office, from time to time and from any funds available to the Authority, amounts to offset costs incurred in the administration of the business of the Authority. The cost of such compensation shall be prorated among the recipients of proceeds of the Bonds in the same manner as the expenses of issuance of the Bonds are required hereby to be prorated.

Alabama § 16-16B-10 ((Implementation Conditioned on Separate Legislative Enactment.) Disposition of Funds) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.