Code of Alabama
Chapter 16B - Alabama Ahead Act.
Section 16-16B-11 - (Implementation Conditioned on Separate Legislative enactment.) Tax Exemption.

The Authority shall have the power to make such payments to the United States of America as the board of directors of the Authority deems necessary to cause the interest on any bonds of the Authority, including the Bonds, to be and remain exempt from, or excludible from gross income for purposes of, federal income taxation. The Authority shall have the power to make such agreements respecting the investment of funds of the Authority as the Authority shall deem necessary in order that the interest income on bonds of the Authority be and remain exempt from, or excludible from gross income for purposes of, federal income taxation.

Structure Code of Alabama

Code of Alabama

Title 16 - Education.

Chapter 16B - Alabama Ahead Act.

Section 16-16B-1 - Short Title; Electronic Textbooks; Wireless Electronic Devices; Rule Making Authority; Implementation Plan; Alabama Ahead Oversight Committee.

Section 16-16B-2 - Definitions.

Section 16-16B-2.1 - Wireless Infrastructure and Mobile Digital Computing Devices; Application for Funds; Implementation Plan.

Section 16-16B-3 - (Implementation Conditioned on Separate Legislative enactment.) Authorization to Issue Additional Bonds and Purposes Thereof.

Section 16-16B-4 - (Implementation Conditioned on Separate Legislative enactment.) Execution and Other Details of the Bonds.

Section 16-16B-5 - (Implementation Conditioned on Separate Legislative enactment.) Sale of the Bonds.

Section 16-16B-6 - (Implementation Conditioned on Separate Legislative enactment.) Appropriation of Revenues to the Authority; Pledge Thereof For.

Section 16-16B-7 - (Implementation Conditioned on Separate Legislative enactment.) Bonds to Be Payable Solely Out of the Revenues Appropriated; Authorization for Authority to Pledge Such Revenues for the Bonds.

Section 16-16B-8 - (Implementation Conditioned on Separate Legislative enactment.) Refunding Bonds.

Section 16-16B-9 - (Implementation Conditioned on Separate Legislative enactment.) Use of Bond Proceeds.

Section 16-16B-10 - (Implementation Conditioned on Separate Legislative enactment.) Disposition of Funds.

Section 16-16B-11 - (Implementation Conditioned on Separate Legislative enactment.) Tax Exemption.

Section 16-16B-12 - (Implementation Conditioned on Separate Legislative enactment.) Issuance Expenses; Contracts and Appointments.