Bonds issued by the authority under the provisions of this article are hereby made securities in which the state and all political subdivisions of this state, their officers, boards, commissioners, departments or other agencies; all banks, bankers, savings banks, trust companies, savings and loan associations, investment companies and other persons carrying on a banking business; all insurance companies, insurance associations and other persons carrying on an insurance business; and all administrators, executors, guardians, trustees and other fiduciaries; and all other persons whatsoever who now are or may hereafter be authorized to invest in bonds or other obligations of the state may properly and legally invest any funds, including capital belonging to them or within their control. The bonds or other securities or obligations are hereby made securities which properly and legally may be deposited with and received by any state or municipal officer or agency of the state for any purpose for which the deposit of bonds or other obligations of the state is now or hereafter may be authorized by law.
Structure Code of Alabama
Title 23 - Highways, Roads, Bridges and Ferries.
Chapter 2 - Toll Roads, Bridges and Ferries.
Article 5 - Alabama Toll Road, Bridge and Tunnel Authority.
Section 23-2-140 - Short Title.
Section 23-2-141 - Intent and Purpose of Article.
Section 23-2-142 - Definitions.
Section 23-2-143 - Authority Established; Composition; Meetings; Fidelity Bonds; Compensation.
Section 23-2-144 - Powers of the Authority.
Section 23-2-147 - Bonds; Issuance; Forms; Procedures, Etc.
Section 23-2-148 - Refunding Bonds; Purposes.
Section 23-2-151 - Revenues Deemed Trust Funds; Depository Deemed Trustee.
Section 23-2-152 - Bondholder's and Trustee's Rights of Enforcement; Scope of Rights.
Section 23-2-155 - Authority to Maintain Own Toll Roads, Bridges, and Tunnels.
Section 23-2-157 - Lease, Grant, etc., of County, City, etc., Property to Authority.
Section 23-2-158 - Annual Report to Legislature; Contents; Annual Audit; Expense.
Section 23-2-159 - Conflict of Interest; Penalty.
Section 23-2-160 - Transfer of Projects to State Highway System.
Section 23-2-161 - Study of Proposed Projects; Reimbursement of Funds; Indebtedness.
Section 23-2-162 - Advertisement of Plans; Public Hearing.
Section 23-2-163 - Applicability to Existing Roadway Capacity.