Any portion of the principal proceeds derived from the sale of the bonds which the board of directors of the corporation may determine is not then needed for any of the purposes for which the bonds are authorized to be issued shall be invested in permitted investments. Any such securities, at any time and from time to time on order of the corporation, may be sold or otherwise converted into cash. The income derived from any investments shall be disbursed on order of the corporation for any purpose for which the corporation may lawfully expend funds.
Structure Code of Alabama
Chapter 6 - Agricultural Center.
Article 5 - Garrett Coliseum Redevelopment Act.
Section 2-6-100 - Short Title.
Section 2-6-101 - Definitions.
Section 2-6-102 - Public Corporation - Formation Authorized.
Section 2-6-103 - Public Corporation - Application for Formation; Certificate of Incorporation.
Section 2-6-104 - Public Corporation - Board of Directors.
Section 2-6-105 - Public Corporation - Powers.
Section 2-6-106 - Deed to Coliseum.
Section 2-6-107 - Lease of Project.
Section 2-6-108 - Design, Rehabilitation, Renovation, etc., of Coliseum.
Section 2-6-109 - Eminent Domain.
Section 2-6-111 - Refunding Bonds.
Section 2-6-112 - Execution, Authentication, and Delivery of Bonds.
Section 2-6-113 - Sale of Bonds.
Section 2-6-114 - Form and Contents of Bonds; Redemption.
Section 2-6-115 - Investment of Proceeds.
Section 2-6-116 - Disposition of Bond Proceeds.
Section 2-6-117 - Disposition of Refunding Bond Proceeds.
Section 2-6-120 - Payment of Principal and Interest on Bonds; Recordkeeping.
Section 2-6-121 - Resolutions Authorizing Bonds.
Section 2-6-122 - Acts Authorized to Support Objectives.
Section 2-6-123 - Federal Income Taxation.
Section 2-6-124 - Investments.
Section 2-6-125 - Corporate Obligations.