The Legislature finds that the Real Estate Commission has acquired certain real property in Montgomery, Alabama, title to which is in the name of the State of Alabama, for the purpose of erecting a building to house the offices of the Real Estate Commission. The Real Estate Commission has also received authority from the Legislature to expend certain of its funds in the construction of such a facility. The Legislature further finds that the Real Estate Commission is unable to complete this building project without additional funding provided through temporary financing arrangements. Therefore, it is in the best interest of the State of Alabama and Real Estate Commission to establish a public corporation with the powers and authority necessary to construct and lease to the commission a facility adequate to serve the needs of the commission.
Structure Code of Alabama
Article 13 - Real Estate Commission Building Authority.
Section 41-10-420 - Legislative Intent.
Section 41-10-421 - Real Estate Commission Building Authority Established; Composition; Powers.
Section 41-10-422 - Commission to Become Public Corporation.
Section 41-10-423 - Certificate of Incorporation.
Section 41-10-424 - Board of Directors.
Section 41-10-425 - Powers of the Authority.
Section 41-10-426 - Notes of the Authority.
Section 41-10-429 - Properties, etc., Forever Exempt From Any and All Taxation.
Section 41-10-430 - Contracts and Obligations Not Debts of State.