§ 6-12A-4 — State treasurer certification

Whenever the state treasurer deems it necessary to issue anticipation notes pursuant to the Short-Term Cash Management Act, the state treasurer shall certify that: A. the issuance of anticipation notes is necessary to regulate cash flow in the general fund; B. the issuance of anticipation notes will not have an adverse impact on the general fund; C. the issuance of anticipation notes is in the best interest of the state; D. the amount of anticipation notes proposed for issuance is reasonable under existing and anticipated market conditions and complies with the requirements of the Internal Revenue Code of 1986, as amended, to the extent applicable; and E. the payment of all interest and principal on anticipation notes can be made on a timely basis.

Legislative History

Laws 1997, ch. 111, § 4.