Alabama § 16-60-93 Deposit of and Disbursements from Proceeds of Bonds

Alabama Statutes

§ 16-60-93 — Deposit of and Disbursements from Proceeds of Bonds

Alabama § 16-60-93

Title 16Education

Ch. 60Trade Schools and Junior Colleges

Art. 4Alabama Trade School and Junior College Authority Act

This text of Alabama § 16-60-93 (Deposit of and Disbursements from Proceeds of Bonds) 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 § 16-60-93 (2026).

Text

The proceeds of all bonds, other than refunding bonds, issued by the authority remaining after paying expenses of their issuance shall be deposited in the State Treasury and shall be carried in the State Treasury in a special or separate account. Such funds shall be subject to be drawn upon by the authority and shall be used solely for the purposes for which the bonds were issued as authorized in this article.

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The proceeds of all bonds, other than refunding bonds, issued by the authority remaining after paying expenses of their issuance shall be deposited in the State Treasury and shall be carried in the State Treasury in a special or separate account. Such funds shall be subject to be drawn upon by the authority and shall be used solely for the purposes for which the bonds were issued as authorized in this article.