The governing body of any county, city or town within this state is authorized in its discretion to invest in bonds of the authority any idle or surplus money held in its treasury.
Structure Code of Alabama
Title 37 - Public Utilities and Public Transportation.
Chapter 13 - Incorporation of Railroad Authorities as Public Corporations.
Section 37-13-1 - Definitions.
Section 37-13-2 - Authority and Procedure to Incorporate.
Section 37-13-3 - Certificate of Incorporation - Contents.
Section 37-13-4 - Certificate of Incorporation - Execution and Recordation.
Section 37-13-5 - Board of Directors of Authority.
Section 37-13-6 - Officers of Authority.
Section 37-13-7 - Powers of Authority Generally.
Section 37-13-8 - Acceptance, etc., of Federal and State Aid Authorized.
Section 37-13-9 - Cooperation of Cities, Counties, Etc.
Section 37-13-10 - Suits Against Manager or Director of Authority.
Section 37-13-11 - Bonds of Authority - Generally.
Section 37-13-12 - Bonds of Authority - Execution.
Section 37-13-13 - Bonds of Authority - Security.
Section 37-13-14 - Bonds of Authority - Disposition of Proceeds From Sale of Bonds.
Section 37-13-15 - Bonds of Authority - Refunding Bonds.
Section 37-13-16 - Bonds of Authority - Exemption From Taxation.
Section 37-13-17 - Investment of County and Municipal Funds in Bonds of Authority.
Section 37-13-18 - Eligibility of Bonds as Investments for Trust Funds.