Alabama § 16-16B-11 (Implementation Conditioned on Separate Legislative Enactment.) Tax Exemption

Alabama Statutes

§ 16-16B-11 — (Implementation Conditioned on Separate Legislative Enactment.) Tax Exemption

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

The Authority shall have the power to make such payments to the United States of America as the board of directors of the Authority deems necessary to cause the interest on any bonds of the Authority, including the Bonds, to be and remain exempt from, or excludible from gross income for purposes of, federal income taxation. The Authority shall have the power to make such agreements respecting the investment of funds of the Authority as the Authority shall deem necessary in order that the interest income on bonds of the Authority be and remain exempt from, or excludible from gross income for purposes of, federal income taxation.

Free access — add to your briefcase to read the full text and ask questions with AI

The Authority shall have the power to make such payments to the United States of America as the board of directors of the Authority deems necessary to cause the interest on any bonds of the Authority, including the Bonds, to be and remain exempt from, or excludible from gross income for purposes of, federal income taxation. The Authority shall have the power to make such agreements respecting the investment of funds of the Authority as the Authority shall deem necessary in order that the interest income on bonds of the Authority be and remain exempt from, or excludible from gross income for purposes of, federal income taxation.

Alabama § 16-16B-11 ((Implementation Conditioned on Separate Legislative Enactment.) Tax Exemption) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.