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

(a) The authority is hereby authorized from time to time to sell and issue its bonds, not exceeding $116,000,000.00 in aggregate principal amount, for the purpose of providing funds for construction, reconstruction, alteration and improvement of buildings and other facilities for public educational purposes in the state, including the procurement of sites and equipment therefor, and for payment of obligations incurred for any such purpose. The cost of construction, reconstruction, alteration and improvement of any such buildings or other facilities shall be deemed to include fees for services rendered by architects and building inspectors in connection therewith.
(b) All contracts involving the expenditure of any funds derived by a county or city board of education under this chapter shall be let on competitive bids in the same manner and according to the same procedure as prescribed for the award of contracts for public works in Sections 39-2-1 through 39-2-13 and 39-5-1 through 39-5-6.
(c) All contracts involving the use of such funds for the purchase of supplies, materials or equipment by county or city boards of education shall be on the basis of competitive bidding, to be conducted in the same manner and according to the same procedure as provided for state purchases in Sections 41-16-20 through 41-16-32.

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.