The authority shall have the power to make such payments to the United States of America as the directors deem necessary to cause the interest on any bonds of the authority to be and remain exempt from federal income taxation. The authority shall have the power to make agreements respecting the investment of funds of the authority necessary in order that the interest income on bonds of the authority be and remain exempt from federal income taxation.
Structure Code of Alabama
Article 15 - Alabama State Parking Deck Authority.
Section 41-10-490 - Definitions.
Section 41-10-491 - Purpose of Article and Construction.
Section 41-10-492 - Authority as Public Corporation.
Section 41-10-493 - Application for Certificate of Incorporation.
Section 41-10-494 - Certificate of Incorporation.
Section 41-10-495 - Members; Directors; Quorum; Vacancies; Salaries; Officers.
Section 41-10-496 - Resolutions and Proceedings of Board of Directors.
Section 41-10-497 - Powers Generally.
Section 41-10-498 - Temporary Loans in Anticipation of Issuance of Bonds.
Section 41-10-499 - Execution of Bonds and Notes.
Section 41-10-500 - Bonds Authorization.
Section 41-10-501 - Sale and Issuance of Refunding Bonds.
Section 41-10-502 - Specifications and Priority of Bonds.
Section 41-10-503 - Sale of Bonds.
Section 41-10-504 - Bonds of Authority Eligible for Investment of Trust Funds.
Section 41-10-505 - Security for Deposit of Governmental Funds.
Section 41-10-506 - Disposition of Proceeds of Bonds.
Section 41-10-507 - Investment of Proceeds.
Section 41-10-509 - Enforcement Upon Default.
Section 41-10-510 - Bonds and Coupons Deemed Negotiable Instruments.
Section 41-10-511 - Obligations, Bonds and Notes Not Debt of State.
Section 41-10-512 - Conveyance of Land to Corporation; Conveyance of Improvements Back to State.
Section 41-10-513 - Facilities - Construction.
Section 41-10-514 - Leasing to State Agencies.
Section 41-10-515 - Leasing to County, Municipal Corporation, Agency of Federal Government, Etc.
Section 41-10-516 - Special Funds.
Section 41-10-517 - Exemption From Taxation.
Section 41-10-518 - Venue for Actions.
Section 41-10-519 - Fees of Secretary of State.
Section 41-10-520 - Interest on Bonds Exempt From Federal Income Tax.
Section 41-10-521 - Dissolution.
Section 41-10-522 - Exemption of Leases of Facilities From Competitive Bid Laws.