All moneys derived from the sale of any bonds issued by the authority shall be used solely for the purposes for which the moneys are authorized and any costs and expenses incidental thereto. The costs and expenses may include, but shall not be limited to, the following:
(1) The fiscal, engineering, legal, and other expenses incurred in connection with the issuance of the bonds.
(2) In the case of bonds issued to pay costs of acquiring or constructing all or any part of a transit system interest on the bonds or, if a part only of any series of bonds is issued for acquisition or construction purposes, interest on that portion of the bonds of that series that is issued to pay the acquisition or construction costs prior to and during the acquisition or construction and not exceeding one year after completion of the acquisition or construction.
(3) In the case of refunding bonds, any premium that it may be necessary to pay in order to redeem or retire the bonds to be refunded.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 1 - Provisions Applicable to Counties Only.
Chapter 32 - Public Transportation in Counties Having Population of 600,000 or More.
Section 11-32-1 - Legislative Findings.
Section 11-32-2 - Definitions.
Section 11-32-3 - Incorporation as a Public Corporation; Applications.
Section 11-32-4 - Certificate of Incorporation - Filing; Contents; Execution.
Section 11-32-5 - Certificate of Incorporation - Amendment.
Section 11-32-6 - Board of Directors.
Section 11-32-7 - Powers of Authority.
Section 11-32-8 - Rates and Charges.
Section 11-32-9 - Bonds - Form and Execution; Sale; Obligations; Notice.
Section 11-32-10 - Bonds - Contracts as Security for Payment.
Section 11-32-11 - Statutory Mortgage Lien.
Section 11-32-12 - Use of Bond Proceeds.
Section 11-32-13 - Powers of Localities, Agencies, Etc.
Section 11-32-14 - Exemption From Taxes, Fees, and Costs.
Section 11-32-15 - Incorporation of Subsequent Authority.
Section 11-32-16 - Exemption From Other State Supervision and Control.
Section 11-32-17 - Use of Public Roads.
Section 11-32-18 - Annual Audit.
Section 11-32-19 - Labor Unions.
Section 11-32-20 - Dissolution of Transit Authority.
Section 11-32-21 - Employee Protective Provisions.
Section 11-32-22 - Applicability to Birmingham-Jefferson County Transit Authority.
Section 11-32-23 - Funding - Annual Payments.
Section 11-32-24 - Funding - Amount Paid by Authorizing County.
Section 11-32-25 - Funding - Amount Paid by Principal Municipality.
Section 11-32-26 - Request for Service.
Section 11-32-27 - Budget Requirements.
Section 11-32-28 - Certification of Routes.
Section 11-32-29 - Costs of Operation.
Section 11-32-30 - Certification of Amounts to Be Paid to Authority.
Section 11-32-31 - Payment Schedule; Sufficiency of Funds.
Section 11-32-32 - Payments Made According to Schedule.
Section 11-32-33 - Examination and Audits of Books and Records.