The proceeds from all taxes collected under this subpart shall be remitted to Bibb County and deposited in the Bibb County General Fund. Eighty percent of the net proceeds after the cost of collection shall be distributed to the Bibb County Board of Education to be used for the acquisition, construction, maintenance, equipping, and operation of public school facilities, and the board's share of the net proceeds may be pledged as security for the payment of principal and interest on any indebtedness heretofore or hereafter issued to provide public school facilities in the county. The remaining 20 percent of the net proceeds shall be retained by the county and used only for road and bridge construction and maintenance and public safety purposes.
Structure Code of Alabama
Section 45-4-244.40 - Legislative Findings.
Section 45-4-244.41 - Definitions.
Section 45-4-244.42 - Levy of Tax.
Section 45-4-244.43 - Collection of Tax.
Section 45-4-244.44 - Addition of Tax to Sales Price.
Section 45-4-244.45 - Collection and Enforcement.
Section 45-4-244.46 - Application of State Statutes.