The authority is authorized to sell and issue its bonds in the aggregate principal amount of twenty-four million dollars ($24,000,000) for the purpose of making grants to the twelve regional planning and development commissions, which shall be utilized by the grantees as revolving loan funds.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 3 - Provisions Applicable to Counties and Municipal Corporations.
Chapter 85 - Regional Planning and Development.
Article 6 - Alabama Revolving Loan Fund Authority.
Section 11-85-100 - Definitions.
Section 11-85-101 - Incorporation of Authority.
Section 11-85-102 - Application for Incorporation.
Section 11-85-103 - Certificate of Incorporation; Fees.
Section 11-85-104 - Members; Officers; Quorum; Vacancies; Salaries; Record of Proceedings.
Section 11-85-105 - Powers of the Authority.
Section 11-85-106 - Bonds - Issuance and Sale.
Section 11-85-108 - Appropriation and Pledge of Funds for Authority Obligations.
Section 11-85-109 - Administrative and Recordkeeping Functions of Authority.