The proceeds of all bonds, other than refunding bonds, issued by the authority remaining after paying expenses of their issuance shall be deposited in the State Treasury and shall be carried in the State Treasury in a special or separate account. Such funds shall be subject to be drawn upon by the authority and shall be used solely for the purposes for which the bonds were issued as authorized in this article.
Structure Code of Alabama
Chapter 60 - Trade Schools and Junior Colleges.
Article 4 - Alabama Trade School and Junior College Authority Act.
Section 16-60-80 - Short Title.
Section 16-60-81 - Definitions.
Section 16-60-82 - Legislative Findings of Fact and Declaration of Intent.
Section 16-60-83 - Authorization to Form Public Corporation.
Section 16-60-84 - Manner of Incorporation.
Section 16-60-85 - Issuance of Certificate of Incorporation.
Section 16-60-86 - Members, Officers and Proceedings of Authority.
Section 16-60-87 - Powers of Authority.
Section 16-60-88 - Determining Location of Trade Schools and Junior Colleges; Site Must Be Donated.
Section 16-60-90 - Authorization to Issue Bonds.
Section 16-60-92 - Refunding Bonds.
Section 16-60-93 - Deposit of and Disbursements From Proceeds of Bonds.
Section 16-60-94 - Revenues of Authority.