With the consent of the Governor, the funds in the sinking fund for retiring old bonded debt may be used from time to time by the Department of Finance for the purpose of purchasing and holding in trust in said fund bonds of the State of Alabama. It shall be the duty of the Department of Finance to see that the funds coming into any sinking fund are applied in satisfaction of the bonds against which said sinking fund was created.
Structure Code of Alabama
Chapter 4 - Department of Finance.
Article 1 - General Provisions.
Section 41-4-2 - General Purpose of Department; Seal.
Section 41-4-3 - Duties of Department Generally.
Section 41-4-3.1 - Monthly Reports on Condition of General Fund and Education Trust Fund.
Section 41-4-4 - Certain Appropriations to Be Expended by Department.
Section 41-4-5 - Appointment of Employees; Officers and Employees Subject to Merit System.
Section 41-4-6 - Oath of Office and Full-Time Service of Officers and Chiefs of Divisions.
Section 41-4-7 - Bonds of Comptroller, Purchasing Agent, Chiefs of Divisions of Department, Etc.
Section 41-4-9 - Grants Received From the Federal Government.
Section 41-4-8 - Powers and Duties of Department as to Educational and Eleemosynary Institutions.
Section 41-4-10 - Use of Funds in Sinking Fund - Purchase and Holding in Trust of State Bonds.
Section 41-4-13 - Use of Funds in Sinking Fund - Deposit of Funds in Savings Banks.
Section 41-4-15 - Use of Funds in Sinking Fund - Sinking Fund Not to Be Diverted From Its Object.