(a) There is created a public corporation to be known as the Alabama Transportation Infrastructure Bank.
(b) The bank is governed by a board of directors as provided in this chapter.
(c) The corporate purpose of the bank is to select and assist in financing major qualified projects by providing loans and other financial assistance to government units for constructing and improving highway and transportation facilities necessary for public purposes including economic development.
(d) The bank shall establish and maintain at least the following accounts:
(1) State highway account.
(2) Federal highway account.
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.