Warrants issued hereunder may be sold at such price or prices as the issuing board of education may deem advisable; provided, that no series of warrants issued hereunder shall be sold at a price resulting in an average annual net interest cost to the issuing board greater than eight percent computed from the date of the warrants to their respective maturities and taking into account any premium or discount reflected in the sale price.
Structure Code of Alabama
Chapter 13 - School Finances Generally.
Article 5 - Warrants for Special County and District Taxes.
Section 16-13-90 - Purposes for Which Warrants Issued.
Section 16-13-91 - Approval of Issuance.
Section 16-13-94 - Maturity; Payment Generally.
Section 16-13-95 - Interest Rate.
Section 16-13-96 - Sale - Generally.
Section 16-13-97 - Sale - Price.
Section 16-13-98 - Preference and Payment of Warrants and Care of Fund.
Section 16-13-99 - Place and Method of Payment.
Section 16-13-100 - Payment of Incidental Costs.
Section 16-13-101 - Redemption of Warrants Prior to Maturity.
Section 16-13-102 - Exchange and Delivery of Refunding Warrants.
Section 16-13-103 - Validity of Warrants.
Section 16-13-104 - Exemption From Taxation.
Section 16-13-105 - Warrants May Be Validated.
Section 16-13-107 - Exclusiveness of Article.
Section 16-13-108 - Elections.
Section 16-13-109 - Investment of Unused Proceeds in Government Securities.