The governing body is authorized in its discretion to invest in bonds of the corporation any idle or surplus money held in the treasury of the municipality which is not otherwise earmarked or pledged.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 2 - Provisions Applicable to Municipal Corporations Only.
Chapter 56 - Public Building Authorities.
Section 11-56-1 - Definitions.
Section 11-56-2 - Legislative Intent; Construction of Chapter Generally.
Section 11-56-4 - Certificate of Incorporation - Contents; Approval by Governing Body.
Section 11-56-5 - Certificate of Incorporation - Execution, Acknowledgment, Filing, and Recordation.
Section 11-56-6 - Board of Directors; Record of Proceedings of Board.
Section 11-56-8 - Powers Generally.
Section 11-56-9 - Leasing of Projects.
Section 11-56-12 - Bonds - Execution and Delivery.
Section 11-56-14 - Bonds - Disposition of Proceeds From Sale.
Section 11-56-15 - Bonds - Remedies Upon Default in Payment of Principal or Interest on Bonds.
Section 11-56-16 - Refunding Bonds.
Section 11-56-17 - Investment in Bonds - by Municipalities.
Section 11-56-18 - Investment in Bonds - by Executors, Savings Banks, Insurance Companies, Etc.
Section 11-56-19 - Conveyances of Property to Corporations by Municipalities.
Section 11-56-21 - Exemption From Taxation of Projects, Bonds, Etc.