Out of the revenues appropriated and pledged in Section 16-16-1, the State Treasurer is hereby authorized and directed to pay the principal of and interest on the bonds issued by the authority under the provisions of this chapter, as such principal and interest shall respectively mature, and the State Treasurer is further authorized and directed to set up and maintain appropriate records pertaining thereto.
Structure Code of Alabama
Chapter 16 - Alabama Public School and College Authority.
Section 16-16-1 - Definitions.
Section 16-16-3 - Incorporation Authorized.
Section 16-16-4 - Application for Incorporation.
Section 16-16-5 - Issuance and Recording of Certificate of Incorporation; No Fees to Be Paid.
Section 16-16-7 - Powers Generally.
Section 16-16-10 - Disposition of Proceeds of Bonds.
Section 16-16-11 - Pledge of Revenues for Payment of Bonds.
Section 16-16-12 - Payment of Principal and Interest on Bonds.
Section 16-16-13 - Dissolution of Authority.
Section 16-16-14 - Use of Bond Proceeds for Loans to Local Boards of Education.
Section 16-16-14.1 - Sale of Bonds and Other Details of Bonds.
Section 16-16-14.2 - Legislative Intent.
Section 16-16-15 - Incentive Fund and Council.