The bank, subject to agreements with bondholders as may then exist, may purchase outstanding bonds of the bank with any available funds, at any reasonable price. If the bonds are then redeemable, the price shall not exceed the redemption price then applicable plus accrued interest to the next interest payment date.
Structure Code of Alabama
Title 23 - Highways, Roads, Bridges and Ferries.
Chapter 7 - Alabama Transportation Infrastructure Bank Act.
Section 23-7-3 - Creation; Purpose; Accounts.
Section 23-7-4 - Board of Directors.
Section 23-7-5 - Powers and Functions.
Section 23-7-6 - Funding; Pledge of Revenues.
Section 23-7-7 - Administration and Operations of Bank.
Section 23-7-8 - Loans and Financial Assistance; Eligible and Qualified Projects.
Section 23-7-9 - Financing Agreements; Other Authorized Financing; Security Interests.
Section 23-7-10 - Essential Governmental Function of Bank; Taxation.
Section 23-7-11 - Failure to Collect or Remit Funds Due; Withholding of Funds.
Section 23-7-12 - Liability Under Chapter.
Section 23-7-13 - Notice, Publication, etc., Referenda.
Section 23-7-14 - Investment of Funds.
Section 23-7-15 - Annual Report; Audit.
Section 23-7-16 - Construction of Chapter.
Section 23-7-17 - Bonds Authorized.
Section 23-7-18 - Liability for Bonds.
Section 23-7-19 - Requirements for Bonds.
Section 23-7-20 - Securing of Bonds - Trust Indenture.
Section 23-7-21 - Securing of Bonds - Pledge.
Section 23-7-22 - Purchase of Outstanding Bonds.
Section 23-7-23 - Form and Execution of Bonds.
Section 23-7-24 - Validity of Signatures on Bonds.
Section 23-7-25 - Limitation on Amendments.
Section 23-7-26 - Taxation of Bonds and Income.
Section 23-7-27 - Construction and Use of Bonds.
Section 23-7-28 - Performance of Contracts by Legal Residents of Alabama.