All bonds, including refunding bonds, issued pursuant hereto, and the income therefrom, including the interest income thereon, shall be free from all taxation by the state or any county, municipality, or other political subdivision or instrumentality of the state, excepting inheritance, estate, and gift taxes. Any bonds issued by the corporations may be used by the holder thereof as security for any funds belonging to the state or to any instrumentality or agency of the state in any instance where security for such deposits may be required by law. Unless otherwise directed by the court having jurisdiction thereof, or by the document that is the source of authority, a trustee, executor, administrator, guardian, or one acting in any other fiduciary capacity may, in addition to any other investment powers conferred by law and with the exercise of reasonable business prudence, invest trust and other fiduciary funds in bonds of the corporations.
Structure Code of Alabama
Title 9 - Conservation and Natural Resources.
Chapter 14A - Alabama Public Recreational and Historical Facilities Improvement Act.
Section 9-14A-1 - Short Title.
Section 9-14A-2 - Legislative Findings.
Section 9-14A-3 - Definitions.
Section 9-14A-4 - Alabama State Parks System Improvement Corporation.
Section 9-14A-5 - Alabama Public Historical Sites and Parks Improvement Corporation.
Section 9-14A-7 - Additional Powers of Alabama State Parks System Improvement Corporation.
Section 9-14A-9 - Bonds - Generally.
Section 9-14A-10 - Bonds - Payment; Records.
Section 9-14A-11 - Bonds - Redemption.
Section 9-14A-12 - Bonds - Sale and Execution.
Section 9-14A-13 - Bonds - Proceeds - Alabama State Parks System Improvement Fund.
Section 9-14A-14 - Bonds - Proceeds - Alabama Public Historical Sites and Parks Improvement Fund.
Section 9-14A-15 - Bonds - Proceeds - Disposition.
Section 9-14A-16 - Refunding Bonds.
Section 9-14A-17 - Use of Bonds.
Section 9-14A-19 - Bonds - Proceeds - Alabama State Parks System Maintenance Fund.
Section 9-14A-20 - Bonds - Proceeds - Appropriations.
Section 9-14A-21 - Joint Legislative Committee on State Parks.