Bonds issued under the provisions of this chapter are hereby made legal investments for savings banks and insurance companies organized under the laws of the state. Unless otherwise directed by the court having jurisdiction thereof or the document that is the source of authority, a trustee, executor, administrator, guardian or one acting in any other fiduciary capacity may, in addition to any other investment powers conferred by law and with the exercise of reasonable business prudence, invest trust funds in bonds of the authority.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 2 - Provisions Applicable to Municipal Corporations Only.
Chapter 57 - Public Library Authorities.
Section 11-57-1 - Definitions.
Section 11-57-2 - Legislative Intent; Construction of Chapter Generally.
Section 11-57-5 - Certificate of Incorporation - Filing and Recordation.
Section 11-57-6 - Board of Directors; Record of Proceedings of Board.
Section 11-57-8 - Powers - Generally.
Section 11-57-9 - Powers - Eminent Domain.
Section 11-57-10 - Leasing of Projects.
Section 11-57-13 - Bonds - Execution and Delivery.
Section 11-57-14 - Bonds - Negotiability.
Section 11-57-15 - Bonds - Security for Payment of Principal and Interest.
Section 11-57-16 - Bonds - Disposition of Proceeds From Sale.
Section 11-57-17 - Refunding Bonds.
Section 11-57-18 - Investment in Bonds - by Municipalities.
Section 11-57-19 - Investment in Bonds - by Executors, Savings Banks, Insurance Companies, Etc.
Section 11-57-20 - Remedies Upon Default on Bonds, Lease Agreements, Etc.
Section 11-57-21 - Liability of State or Municipalities on Bonds and Obligations of Authorities.
Section 11-57-22 - Investment of Funds of Authorities.
Section 11-57-23 - Conveyances of Property to Authorities by Municipalities.
Section 11-57-25 - Exemption From Taxation of Properties, Bonds, Etc.