Any community or technical college , during any fiscal year upon the approval of the Chancellor, may borrow money in anticipation of the current revenues for that fiscal year and pledge the current revenues for that fiscal year for payment of such loan or loans if funds on hand are not sufficient to pay the salaries of teachers for any given month. Any amount borrowed may not exceed one month's allotment and may not exceed the amount of the state appropriation minus the amount disbursed from the annual allotment to the college.
Structure Code of Alabama
Chapter 60 - Trade Schools and Junior Colleges.
Article 5 - Management and Control of Trade Schools and Junior Colleges.
Section 16-60-110 - Definitions.
Section 16-60-111 - Board of Trustees of the Alabama Community College System.
Section 16-60-111.1 - Chancellor - Appointment; Vacancies.
Section 16-60-111.3 - Chancellor - Compensation.
Section 16-60-111.4 - Powers of Board of Trustees.
Section 16-60-111.6 - Delegation of Decision-Making Authority to Chancellor.
Section 16-60-111.7 - Appointment of Faculty and Staff; Qualifications.
Section 16-60-111.8 - Authority of Board and Chancellor to Take Administrative Action.
Section 16-60-111.9 - Vacancy in Position of Executive Officer.
Section 16-60-111.10 - Personal and Real Property.
Section 16-60-111.11 - Additional Powers of Board.
Section 16-60-111.12 - Annual Report.
Section 16-60-111.13 - Legislative Recommendations.
Section 16-60-111.14 - Official Seal.
Section 16-60-111.15 - Administration of Oaths and Examination of Witnesses.
Section 16-60-111.16 - Donations; Assumption of Obligations.
Section 16-60-112 - Interpretation of Article.
Section 16-60-115 - Adult Education, State Approving Agency, and Private School Licensure Programs.
Section 16-60-116 - Alabama Aviation College.
Section 16-60-117 - Technical and Workforce Development Programs.
Section 16-60-117.1 - Training on Recognition, Prevention, and Reporting of Human Trafficking.