Section 16-19-1
Section 16-19-1
Definitions.
For the purposes of this chapter, the following words and phrases shall have the following respective meanings:
(1) LOCAL SUBDIVISION. Any county or municipality in the State of Alabama.
(2) STATE EDUCATIONAL INSTITUTION. Any institution of higher learning above the secondary school classification, whether under the control of a separate board of trustees or under the control of the State Board of Education.
(3) EDUCATIONAL FACILITY. Any educational building, educational center, or other structure designed for use by any state educational institution for any educational purpose.
(Acts 1959, 1st Ex. Sess., No. 79, p. 140, §1; Acts 1970, Ex. Sess., No. 45, p. 2668, §2.)Section 16-19-2
Section 16-19-2
Counties and municipalities authorized to make appropriations and donations to state educational institutions.
Any local subdivision shall have the power to make, from time to time, appropriations from any of its funds not required by law to be devoted to some other purpose, to any state educational institution for the purpose of paying all or any part of the costs of the acquisition, by construction or otherwise, of an educational facility to be owned and operated by such state educational institution; and any local subdivision shall have the power also to donate any of its properties that are not required by law to be used for some other purpose to any state educational institution for use as an educational facility to be owned and operated by such state educational institution, or as a part of such an educational facility.
(Acts 1959, 1st Ex. Sess., No. 79, p. 140, §2.)Section 16-19-3
Section 16-19-3
Issuance of warrants authorized.
Each local subdivision shall have the power from time to time to sell and issue interest-bearing warrants of such local subdivision for the purpose of raising funds to pay all or any part of the costs of the acquisition by a state educational institution, by construction or otherwise, of any educational facility. Such warrants shall be in such denomination or denominations, may have such maturity or maturities not exceeding 30 years from their date, may bear interest from their date at such rate or rates not exceeding eight percent per annum payable semiannually and evidenced in such manner, may be payable at such place or places within or without the state, may be sold at such time or times and in such manner, may be executed in such manner and may contain such terms and provisions not inconsistent with the provisions of this chapter, all as the governing body of such local subdivision may provide in the proceedings under which the warrants are authorized to be issued. Such warrants may be issued, at the option of the governing body of the local subdivision issuing such warrants, either:
(1) As general obligations of the local subdivision by which they are issued, in which event the full faith and credit of such local subdivision shall be irrevocably pledged for the payment of the principal thereof and interest thereon; or
(2) As limited obligations of such local subdivision payable solely out of the proceeds of a special tax, in which event they shall not be general obligations of the local subdivision by which they are issued and its full faith and credit shall not be pledged therefor.
The proceeds derived from the sale of any such warrants shall be used solely for the purpose for which they are authorized in said proceedings to be issued.
(Acts 1959, 1st Ex. Sess., No. 79, p. 140, §3; Acts 1970, Ex. Sess., No. 45, p. 2668, §3.)Section 16-19-4
Section 16-19-4
Pledge of revenues for payment of warrants.
As security for the payment of the principal of and interest on any warrants issued under the provisions of this chapter, the local subdivision issuing such warrants may, in the discretion of its governing body, specially pledge for payment of such principal and interest at their respective maturities the proceeds of any ad valorem, privilege, license, excise or other tax the proceeds of which are subject to the control of such local subdivision and are not required by law to be devoted to some other purpose.
(Acts 1959, 1st Ex. Sess., No. 79, p. 140, §4.)Section 16-19-5
Section 16-19-5
County general obligation warrants to constitute preferred claim; issuance deemed audit and allowance of claim.
Any general obligation warrants and the interest coupons applicable thereto issued by a county under the provisions of this chapter shall constitute preferred claims against the issuing county, having the same priority, under Section 11-12-15, as interest on bonds. The issuance hereunder of any warrants and interest coupons by a county, pursuant to the authorization by the county commission, shall be deemed to constitute an audit and allowance by such county commission of claims, in the total amount of such warrants and coupons, against such county and against any tax proceeds pledged therefor pursuant to the provisions of this chapter, and no other audit or allowance of such claims and no proof of registration thereof shall be required.
(Acts 1959, 1st Ex. Sess., No. 79, p. 140, §5; Acts 1970, Ex. Sess., No. 45, p. 2668, §4.)Section 16-19-6
Section 16-19-6
Provisions of chapter control over inconsistent legislation; Section 11-8-10 inapplicable.
Insofar as the provisions of this chapter may be inconsistent with the provisions of any other law, the provisions of this chapter shall control, it being hereby declared that the provisions of Section 11-8-10 shall not be applicable to warrants issued by any county under the provisions of this chapter.
(Acts 1959, 1st Ex. Sess., No. 79, p. 140, §6.)Section 16-19-7
Section 16-19-7
Warrants deemed issued for purpose of constructing, etc., schoolhouses.
Warrants issued by a municipality under the provisions of this chapter shall be deemed to constitute obligations issued for the purpose of acquiring, providing or constructing schoolhouses within the meaning of Section 225 of the Constitution of Alabama of 1901.
(Acts 1959, 1st Ex. Sess., No. 79, p. 140, §7.)Section 16-19-8
Section 16-19-8
Powers cumulative.
The powers conferred by this chapter shall be in addition to all powers conferred upon any local subdivision by any other law.
(Acts 1959, 1st Ex. Sess., No. 79, p. 140, §8.)
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