Home/Alabama/Statutes/Title 23: Highways, Roads, Bridges and Ferries/Ch. 1: Alabama Highways/Art. 10: Federal Aid Highway Finance Authority/§ 23-1-315
Alabama Statutes

§ 23-1-315 — Investment of Funds; Pledge of Interest from Investments

Alabama § 23-1-315
JurisdictionAlabama
Title 23Highways, Roads, Bridges and Ferries
Ch. 1Alabama Highways
Art. 10Federal Aid Highway Finance Authority

This text of Alabama § 23-1-315 (Investment of Funds; Pledge of Interest from Investments) 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 § 23-1-315 (2026).

Text

Any funds held as the proceeds of obligations issued by the authority under this article and any funds held by the State Treasurer in the sinking fund provided for the payment of such obligations shall be invested in obligations of the United States of America or in certificates of deposit secured by a deposit of obligations of the United States of America to the full amount of such certificates of deposit, and in investment agreements, repurchase agreements, or other investment arrangements fully collateralized by any of the foregoing, and the interest to be earned on such investment of funds may be pledged by the authority to the payment of the principal of and interest on the obligations issued by the authority under this article.

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Legislative History

(Acts 1976, No. 565, p. 764, §16; Act 2014-105, p. 169, §1.)

Nearby Sections

15
§ 23-1-1
Contracts and Regulations Relative to Federal Assistance
§ 23-1-10
“Blue Reflective Markers” and “Fire/Water Hydrant” Defined; Purpose and Installation of Blue Reflective Markers
§ 23-1-100
“Captive County” Defined
§ 23-1-101
Powers and Duties of County Commissions of Captive Counties as to Construction, Repair, and Maintenance of County Roads and Bridges Generally
§ 23-1-102
Transfer to Counties of Unexpended Funds Maintained by State Department of Transportation; Payment to Counties of Tax Proceeds, Federal Aid Accruals, Etc
§ 23-1-103
Transfer to Counties by State Department of Transportation of Facilities and Properties for Construction, Repair, and Maintenance of Roads; Resolution of Disputes as to Transfers
§ 23-1-104
Furnishing of Counties with Lists of Persons Employed by State Department of Transportation Therein; Employment by Counties of Persons on Lists; Employment Status of Other Persons Employed by Department in Counties; Liability for Accumulated Obligations Due and Payable to Present Employees of Department; Payment by Department of Accumulated Sick Leave of Transferred Employee
§ 23-1-105
Effect of Article Upon Contracts for Construction, Repair and Maintenance of County Roads and Bridges Entered into by State Department of Transportation
§ 23-1-106
Effect of Article Upon Outstanding Financial Obligations Incurred by Counties; Disposition of Funds Received by State from Counties for Road and Bridge Work Therein
§ 23-1-107
Effective Date
§ 23-1-110
Purpose of Article
§ 23-1-111
Designation
§ 23-1-112
Maintenance and Repair - Responsibility
§ 23-1-113
Maintenance and Repair - Stipulations and Conditions
§ 23-1-130
Establishment
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Bluebook (online)
Alabama § 23-1-315, Counsel Stack Legal Research, https://law.counselstack.com/statute/al/23-1-315.