Code of Alabama
Chapter 16 - Alabama Public School and College Authority.
Section 16-16-6 - Members, Officers and Directors; Quorum for Transacting Business; Effect of Death, Resignation or Expiration of Term; Salary; Record of Proceedings; Copies of Proceedings as Evidence.

The applicants named in the application and their respective successors in office shall constitute the members of the authority. The Governor shall be the president of the authority, the State Superintendent of Education shall be the vice-president thereof and the Director of Finance shall be the secretary thereof. The State Treasurer shall be treasurer thereof, shall act as custodian of its funds and shall pay the principal of and interest on the bonds of the authority out of the funds hereinafter provided for. The members of the authority shall constitute all the members of the board of directors of the authority, and any two members of the said board of directors shall constitute a quorum for the transaction of business. Should any person holding any state office named in this section cease to hold such office by reasons of death, resignation, expiration of his term of office or for any other reason, then his successor in office shall take his place as a member, officer or director, as the case may be, of the authority. No member, officer or director of the authority shall draw any salary in addition to that now authorized by law for any service he may render or for any duty he may perform in connection with the authority. All proceedings had and done by the board of directors shall be reduced to writing by the secretary of the authority, shall be signed by at least two members of the authority and shall be recorded in a substantially bound book and filed in the office of the secretary. Copies of such proceedings, when certified by the secretary of the authority, under the seal of the authority, shall be received in all courts as prima facie evidence of the matters and things therein certified.

Structure Code of Alabama

Code of Alabama

Title 16 - Education.

Chapter 16 - Alabama Public School and College Authority.

Section 16-16-1 - Definitions.

Section 16-16-2 - Legislative Findings of Fact and Declaration of Intent; Liberal Construction of Chapter.

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 16-16-6 - Members, Officers and Directors; Quorum for Transacting Business; Effect of Death, Resignation or Expiration of Term; Salary; Record of Proceedings; Copies of Proceedings as Evidence.

Section 16-16-7 - Powers Generally.

Section 16-16-8 - Authority Empowered to Sell and Issue Bonds for Construction, etc., of Facilities for Public Educational Purposes; Procedure for Letting Contracts.

Section 16-16-9 - Execution, Form, Terms and Conditions of Bonds; Sale; Refunding Bonds; Bonds to Be Limited Obligations; Security for Payment; Bonds as Negotiable Instruments; Exemption From Taxation; Bonds as Security for Deposits and for Investmen...

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.

Section 16-16-16 - Racial and Ethnic Diversity.

Section 16-16-17 - Swap Agreements.