Any portion of the principal proceeds derived from the sale of the bonds which the board of directors may determine is not then needed for any of the purposes for which the bonds are authorized to be issued shall, on order of the authority, be invested by the State Treasurer in permitted investments which mature at such time or times as the authority shall direct. Any such investments may, at any time and from time to time on order of the authority, be sold or otherwise converted by the State Treasurer into cash. The income derived from any such investments shall be disbursed on order of the authority for any purpose for which it may lawfully expend funds.
Structure Code of Alabama
Article 9 - Alabama Judicial Building Authority.
Section 41-10-260 - Definitions.
Section 41-10-261 - Legislative Intent; Liberal Construction.
Section 41-10-262 - Authority to Incorporate.
Section 41-10-263 - Procedure for Incorporation.
Section 41-10-264 - Certificate of Incorporation; No Fees for Incorporation or Dissolution.
Section 41-10-266 - Meetings of Board of Directors.
Section 41-10-267 - Powers of Authority.
Section 41-10-268 - Authorization, Issuance and Sale of Bonds.
Section 41-10-268.1 - Issuance of Bonds - 2007 Authorization.
Section 41-10-269 - Execution of Bonds.
Section 41-10-270 - Use of Proceeds From Sale of Bonds.
Section 41-10-272 - Creation of Fund for Payment of Bonds.
Section 41-10-274 - State Treasurer to Disburse Funds for Payment of Bonds.
Section 41-10-275 - Terms and Conditions of Leasing by Authority.
Section 41-10-276 - Investment of Proceeds From Sale of Bonds; Disposition of Investment Income.
Section 41-10-277 - Refunding Bonds.
Section 41-10-279 - Exemption From Taxation.
Section 41-10-280 - Bonds Constitute Negotiable Instruments; Registration of Transfers.
Section 41-10-281 - Obligations Not Debt of State.