The corporations on behalf of the state shall have the power to provide for such payments to the United States of America as the directors deem necessary to cause the interest on any bonds to be and remain exempt from federal income taxation. The corporations shall have the power to make agreements respecting the investment of the proceeds of the bonds or other funds of the corporation necessary in order that the interest income on bonds of the corporations be and remain exempt from federal income taxation.
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.