If any of the members or officers of the bank cease to be members before the delivery of any bonds signed by them, their signatures or authorized facsimile signatures are nevertheless valid and sufficient for all purposes as if they had remained in office until the delivery of the bonds.
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.