Any bonds issued by the authority may be used by the holders thereof as security for deposits of any funds belonging to the state or to any instrumentality, agency or political subdivision of the state in any instance where security for such deposits may be required or permitted by law. Any surplus in any state fund and any retirement or trust fund, where the investment thereof is permitted or required by law, may be invested in bonds issued by the authority. Unless otherwise directed by the court having jurisdiction thereof, or the document that is the source of authority, a trustee, executor, administrator, guardian, or one acting in any other fiduciary capacity may, in addition to any other investment powers conferred by law and with the exercise of reasonable business prudence, invest trust funds in the bonds of the authority.
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.