Code of Alabama
Article 1 - General Provisions.
Section 41-4-11 - Use of Funds in Sinking Fund - Sale of Bonds; Reinvestment of Funds; Cancellation of Paid Bonds.

With the consent of the Governor, said bonds so purchased and held in trust may be sold from time to time by the Department of Finance, if it is deemed for the best interest of the sinking fund that said transactions be had, and the proceeds held or reinvested from time to time, provided always said fund be kept intact and be used at the maturity of the said bonds for the retirement of the same. Bonds in said sinking fund on maturity dates shall be cancelled and destroyed as other bond obligations of the state are handled when paid at maturity.

Structure Code of Alabama

Code of Alabama

Title 41 - State Government.

Chapter 4 - Department of Finance.

Article 1 - General Provisions.

Section 41-4-1 - Definitions.

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 41-4-11 - Use of Funds in Sinking Fund - Sale of Bonds; Reinvestment of Funds; Cancellation of Paid Bonds.

Section 41-4-12 - Use of Funds in Sinking Fund - Purchase of State Bonds in Lieu of Use of Sinking Fund; Cancellation and Destruction of Bonds Purchased.

Section 41-4-13 - Use of Funds in Sinking Fund - Deposit of Funds in Savings Banks.

Section 41-4-14 - Use of Funds in Sinking Fund - Books to Be Kept Showing Full Entries as to Sinking Fund.

Section 41-4-15 - Use of Funds in Sinking Fund - Sinking Fund Not to Be Diverted From Its Object.

Section 41-4-16 - Consent of Department Prerequisite to Issuance of Securities by State Commissions, Authorities, etc.; Exceptions.

Section 41-4-17 - Rent Charged for Use of State Buildings in Capitol Complex; Fund for Operation, Maintenance, Etc.

Section 41-4-18 - Inventory of Facilities and Lands Owned, Leased, Rented, etc., by Certain State Entities.