Alabama § 41-10-657 Payment of Training Costs

Alabama Statutes

§ 41-10-657 — Payment of Training Costs

Alabama·Title 41 State Government·Ch. 10 Authorities·Art. 17 Alabama 21st Century Authority·Div. 2 Job Development Act of 1999

In addition to the power to finance the payment of training costs through the issuance of the bonds, the authority may, if it determines that it is in the best interests of the state to do so, pay such training costs directly out of pledged revenues in the special fund, provided that any such payment in any fiscal year, together with debt service payable on outstanding bonds in such fiscal year, shall not exceed the total amount of pledged revenues permitted to be used by Division 1 to pay debt service on the authority’s outstanding bonds in such fiscal year.

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

In addition to the power to finance the payment of training costs through the issuance of the bonds, the authority may, if it determines that it is in the best interests of the state to do so, pay such training costs directly out of pledged revenues in the special fund, provided that any such payment in any fiscal year, together with debt service payable on outstanding bonds in such fiscal year, shall not exceed the total amount of pledged revenues permitted to be used by Division 1 to pay debt service on the authority’s outstanding bonds in such fiscal year.

Alabama § 41-10-657 (Payment of Training Costs) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.