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
Chapter 3 - Airport Authorities.
Article 1 - General Provisions.
Section 4-3-2 - Procedure for Incorporation.
Section 4-3-3 - Contents of Certificate of Incorporation.
Section 4-3-4 - Execution and Recordation of Certificate of Incorporation.
Section 4-3-5 - Board of Directors of Authority.
Section 4-3-6 - Officers of Authority.
Section 4-3-7 - Immunity of Authority and Directors From Liability for Negligence.
Section 4-3-11 - Powers of Authority Generally.
Section 4-3-12 - Federal and State Aid.
Section 4-3-13 - Assistance and Cooperation by Counties, Municipalities, Etc.
Section 4-3-16 - Execution and Delivery of Bonds.
Section 4-3-17 - Security for Bonds.
Section 4-3-18 - Use of Proceeds From Sale of Bonds.
Section 4-3-19 - Refunding Bonds.
Section 4-3-20 - Investment of County, Municipal, etc., Funds in Bonds.
Section 4-3-22 - Procedure for Dissolution of Authority.
Section 4-3-23 - Certain Contracts or Legal Actions Validated.