Alabama § 45-29-90.16 - Disposition of Funds.
Full text of Alabama Code of Alabama § 45-29-90.16 — Disposition of Funds., with citation guidance and answers to common questions.
§ 45-29-90.16. Disposition of Funds.
All moneys derived from the sale of any bonds issued by the authority shall be used solely for the purpose or purposes for which the same are authorized and any costs and expenses incidental thereto. Such costs and expenses may include, but shall not be limited to:
(1) The fiscal, engineering, legal, and other expenses incurred in connection with the issuance of the bonds.
(2) In the case of bonds issued to pay costs of construction, interest on such bonds, or if a part only of any series of bonds is issued for construction purposes, interest on that portion of the bonds of that series that is issued to pay construction costs, prior to and during such construction and for not exceeding one year after completion of such construction.
(3) In the case of bonds issued for the purpose of refunding principal and interest, or either, with respect to bonds issued or obligations assumed by the authority, any premium that it may be necessary to pay in order to redeem or retire the bonds or other obligations to be refunded.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 45-29-90.16
What does Code of Alabama § 45-29-90.16 cover?
Section 45-29-90.16 ("Disposition of Funds.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 45-29-90.16?
A common citation format is "Code of Alabama § 45-29-90.16" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 45-29-90.16 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.