Out of the revenues appropriated and pledged in Section 41-10-365 of this article, the State Treasurer is authorized and directed to pay the principal of and interest on the bonds at the respective maturities of the said principal and interest, and he is further authorized and directed to set up and maintain appropriate records pertaining thereto. In the event that the State Treasurer designates any bank as the paying agent with respect to any bonds, the State Treasurer shall make available to such bank, not later than one business day prior to the date on which any principal of or interest on such bonds is due and payable, funds sufficient to pay such principal and interest due on such date.
Structure Code of Alabama
Article 11 - Alabama Mental Health Finance Authority.
Section 41-10-350 - Legislative Findings and Purpose.
Section 41-10-351 - Definitions.
Section 41-10-352 - Authority for Incorporation of Alabama Mental Health Finance Authority; Members.
Section 41-10-353 - Application for Authority to Incorporate.
Section 41-10-354 - Certificate of Incorporation; No Fee or Compensation to Secretary of State.
Section 41-10-356 - Powers of Authority.
Section 41-10-357 - Authorization to Issue Bonds; Limitation on Use of Proceeds.
Section 41-10-359 - Execution and Delivery of Bonds; Designation of Bonds for Community Facilities.
Section 41-10-363 - Refunding Bonds; Proceeds of Sale of Refunding Bonds.
Section 41-10-365 - Sinking Fund for Payment of Principal and Interest on Bonds of Authority.
Section 41-10-366 - Contracts, etc., Do Not Create Obligations of State.
Section 41-10-368 - Authority Is Nonprofit Corporation.
Section 41-10-369 - Dissolution of Authority; Disposition of Property Upon Dissolution of Authority.