reglab/housing_qa huggingface dataset:
AL Code § 16-13-37 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 13 - School Finances Generally.|Article 2 - Apportionment and Disbursement of Public School Funds.|Section 16-13-37 - Use of County Sales and Use Tax Funds for General Educational Purposes.

Section 16-13-37Use of county sales and use tax funds for general educational purposes. (a) When approved at a referendum election held for such purposes in the manner hereinafter prescribed, any local board of education may divert any earmarked revenue derived by it from county sales and use taxes heretofore levied and imposed by local laws enacted by the Legislature of Alabama which exclusively earmarked such county sales and use taxes for capital outlay, construction and maintenance of public schools and use or spend the same for general educational purposes, including payment of teachers' salaries, other current school expenses, and costs of school transportation, the provisions of any general, special or local law to the contrary notwithstanding. (b) Upon the written request of the local board of education to the county commission, the referendum elections referred to in subsection (a) of this section may be called, held and conducted as nearly as may be in accordance with state law. In counties which apportion such sales and use taxes between county boards of education and city boards of education under local laws or by agreement between said county and city boards of education, upon the joint written request of such county and city boards of education to the county commission, such referendum elections may be consolidated into one countywide vote, and the result of such consolidated election shall govern the permissive use of such earmarked revenue thereafter by both the county and city boards of education. (c) This section shall not be construed so as to permit or allow the diversion or use for general educational purposes of any earmarked or dedicated school revenue derived by any local board of education from county sales and use taxes which have heretofore been pledged by such local board of education or other governing body to the amortization, payment or retirement of any school bond issue, school loan or school contract of any kind which calls or provides for the payment thereof from said earmarked school revenues. (Acts 1961, Ex. Sess., No. 69, p. 1944, §§1-3; Acts 1995, No. 95-314, p. 634, §22.)
AL Code § 16-13-71 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 13 - School Finances Generally.|Article 4 - Tax Anticipation Warrants in Cities and Counties.|Section 16-13-71 - Terms and Conditions; Sale; Use of Proceeds.

Section 16-13-71Terms and conditions; sale; use of proceeds. (a) Warrants issued pursuant to the provisions of this article may bear such rate or rates of interest, not exceeding 12 percent per annum, payable semiannually (provided that the first interest payment date may be at any time not later than nine months after the date of such warrants), may be in such denomination or denominations, may have such maturity or maturities not exceeding 30 years from their date (provided that warrants payable, as to both principal and interest, out of the proceeds of any privilege, license or excise tax or taxes, may have a maturity or maturities not exceeding 40 years from their date), may be made redeemable prior to maturity at the option of the issuing board of education at such redemption price or prices and on such terms and conditions, may be payable at such place or places within or without this state, may be executed in such manner and may contain such terms and details not in conflict with the provisions of this article, all as the board of education issuing such warrants may provide in the proceedings wherein such warrants are authorized to be issued. (b) All warrants issued pursuant to the provisions of this article shall be sold in the manner required by the provisions of Section 16-13-96, for the sale of capital outlay warrants; provided, that the notice of public sale with respect to the sale of warrants issued hereunder that are not payable out of the proceeds of a county or district ad valorem tax shall, in lieu of stating whether a county or district tax is to be pledged therefor, briefly describe the tax to be pledged for payment of such warrants. No warrants issued pursuant to the provisions of this article may be sold for less than 95 percent of their face value plus accrued interest on such warrants from their date to the date of their delivery, nor shall any warrants issued pursuant to the provisions of this article be sold at a price which would yield more than 12 percent according to standard bond tables taking into account any premium or discount reflected in the sale price. (c) The principal proceeds derived from the sale of any such warrants shall be used solely for the purpose for which they were authorized to be issued, including the payment of any expenses incurred in connection with the issuance thereof. (Acts 1959, 2nd Ex. Sess., No. 57, p. 224, §2; Acts 1971, 1st Ex. Sess., No. 119, p. 200, §1; Acts 1981, No. 81-826, p. 1471, §1.)
AL Code § 16-13-72 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 13 - School Finances Generally.|Article 4 - Tax Anticipation Warrants in Cities and Counties.|Section 16-13-72 - Refunding Warrants.

Section 16-13-72Refunding warrants. Any county board of education and any city board of education may from time to time sell and issue refunding warrants for the purpose of refunding the principal of warrants then outstanding that were issued by the said board of education under the provisions of either this article or any other act or statute, and the interest accrued on the warrants to be refunded, whether or not the principal of the said outstanding warrants shall have matured at the time of the issuance of the refunding warrants and regardless of the date on which the warrants to be refunded shall have a stated maturity or shall be subject to redemption or cancellation. Any premium necessary to redeem or retire the warrants to be so refunded may be paid out of the proceeds from the refunding warrants; and the total principal amount of the refunding warrants shall not exceed the sum of (i) the principal of the warrants to be refunded, (ii) the interest accrued and unpaid thereon plus the interest to mature thereon until the date on which they are to be redeemed or paid and (iii) the amount of any such redemption premium. Except for the fact that refunding warrants are issued for refunding purposes rather than any of the purposes referred to in Section 16-13-70, all the provisions of this article relating to warrants generally shall be applicable to refunding warrants issued hereunder. (Acts 1959, 2nd Ex. Sess., No. 57, p. 224, §3; Acts 1963, 2nd Ex. Sess., No. 148, p. 336, §2; Acts 1986, Ex. Sess., No. 86-652, p. 35.)
AL Code § 16-13-74 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 13 - School Finances Generally.|Article 4 - Tax Anticipation Warrants in Cities and Counties.|Section 16-13-74 - Warrants Legal Investments for Fiduciaries.

Section 16-13-74Warrants legal investments for fiduciaries. Warrants issued pursuant to the provisions of this article shall be legal investments for executors, administrators, trustees and other fiduciaries. (Acts 1959, 2nd Ex. Sess., No. 57, p. 224, §5.)
AL Code § 16-13-75 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 13 - School Finances Generally.|Article 4 - Tax Anticipation Warrants in Cities and Counties.|Section 16-13-75 - Exemption From Taxation.

Section 16-13-75Exemption from taxation. All warrants and interest coupons issued pursuant to the provisions of this article and all income derived therefrom shall forever be exempt from all state, county, municipal and other taxation under the laws of Alabama. (Acts 1959, 2nd Ex. Sess., No. 57, p. 224, §6.)
AL Code § 16-13-76 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 13 - School Finances Generally.|Article 4 - Tax Anticipation Warrants in Cities and Counties.|Section 16-13-76 - Moneys Allocated Under Article or Chapter Not to Be Pledged.

Section 16-13-76Moneys allocated under article or chapter not to be pledged. Nothing herein contained shall be construed to authorize any local board of education to pledge, for the benefit of any warrants issued hereunder, any portion of the Foundation Program Fund moneys paid, apportioned or allocated to it under the provisions of this chapter, nor any portion of public school fund moneys paid, apportioned or allocated to it under the provisions of this article. (Acts 1959, 2nd Ex. Sess., No. 57, p. 224, §7; Acts 1995, No. 95-314, p. 634, §24.)
AL Code § 16-13-77 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 13 - School Finances Generally.|Article 4 - Tax Anticipation Warrants in Cities and Counties.|Section 16-13-77 - Effect of Article on Existing Powers of Boards of Education.

Section 16-13-77Effect of article on existing powers of boards of education. The provisions of this article shall not be deemed to restrict, abridge or revoke any power which any county or city board of education had prior to the adoption of this article. Without in any way limiting the generality of the foregoing, it is hereby declared that all county and city boards of education shall continue to have, in addition to the powers granted by this article, all the powers granted them by the provisions of Article 5 of this chapter; provided, that the provisions of Section 16-13-107 shall not be applicable to any board of education exercising the powers granted in this article. (Acts 1959, 2nd Ex. Sess., No. 57, p. 224, §8.)
AL Code § 16-13-90 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 13 - School Finances Generally.|Article 5 - Warrants for Special County and District Taxes.|Section 16-13-90 - Purposes for Which Warrants Issued.

Section 16-13-90Purposes for which warrants issued. In any county in which a special county tax shall have been voted under the constitution for such purpose or for school purposes generally, and in any school district in which a special district tax shall have been voted under the constitution for such purpose or for school purposes generally, the county board of education or the city board of education, as the case may be, with the approval of the State Superintendent of Education may issue and sell capital outlay warrants for the purposes of erecting, purchasing, altering, enlarging, improving, repairing and equipping school buildings and school playgrounds, and buildings for housing and repairing school buses, including sites for any such buildings and playgrounds; and for the purpose of purchasing school buses; and for the purpose of acquiring a school building already erected by another government body, which building is being transferred to the use and jurisdiction of the board issuing the warrants; or for any one or more of such purposes; issue and sell or exchange refunding warrants for the purpose of refunding any valid warrants heretofore or hereafter issued and constituting a preferred claim against the said tax, or, in the case of refunding warrants payable from the tax of a special school district which consists of a consolidation of two or more smaller special school districts, constituting a preferred claim against the tax of any of such smaller districts; provided, that the refunding warrants shall not be issued in an aggregate principal amount exceeding the sum of (i) the outstanding principal of such warrants being refunded, (ii) the interest accrued and unpaid thereon plus the interest to mature thereon until the date on which they are to be redeemed or paid, and (iii) the amount of any redemption premium required to be paid. Proceedings authorizing the issuance of refunding warrants under the provisions of this article shall identify the warrants being refunded, but no purchaser or holder of any such refunding warrant shall thereby be put upon inquiry or charged with notice of the nonexistence or invalidity of such refunded warrants, and the validity of such refunding warrants shall not be affected thereby. Warrants shall never be issued hereunder to an amount of principal and interest maturing in any fiscal year which, when added to the amount of principal and interest of all warrants then outstanding and constituting preferred claims against the said tax and maturing in said fiscal year, would exceed 80 percent of the annual proceeds of said tax, computed upon the basis of the last assessed valuation on which taxes were due and payable, of the county or of the district, as the case may be, as certified by the county tax assessor. (Acts 1939, No. 186, p. 334, § 1; Code 1940, T. 52, §216; Acts 1986, Ex. Sess., No. 86-650, p. 33.)
AL Code § 16-13-92 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 13 - School Finances Generally.|Article 5 - Warrants for Special County and District Taxes.|Section 16-13-92 - Execution.

Section 16-13-92Execution. All warrants issued hereunder shall be executed in the name of the issuing county or city board of education, as the case may be, by the president of such board, shall be sealed with the seal of such board and attested by the secretary of the board. Coupons attached to such warrants shall be executed with either the manual or the facsimile signature of the president of such board. All warrants and coupons attached thereto issued hereunder bearing the signatures of officers in office on the date of the signing thereof shall be valid and binding obligations notwithstanding that before the delivery and payment thereof such officers whose signatures appear thereon shall have ceased to be officers of such board. (Acts 1939, No. 186, p. 334, §12; Code 1940, T. 52, §227.)
AL Code § 16-13-94 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 13 - School Finances Generally.|Article 5 - Warrants for Special County and District Taxes.|Section 16-13-94 - Maturity; Payment Generally.

Section 16-13-94Maturity; payment generally. Capital outlay warrants issued hereunder shall be payable within the period of usefulness of the improvement or property for which the warrants are issued as estimated by the county or city board of education, which estimate shall be conclusive. In no event shall any warrant issued hereunder be made payable on or after the first of October upon which the special tax pledged for the payment of the warrants last becomes due and payable. All warrants issued hereunder shall be made payable in substantially equal annual instalments of principal and interest beginning in the next fiscal year after their date; provided, that if other warrants issued hereunder or any other law shall be then outstanding constituting a preferred claim against the same tax, all or any part of the maturities of such outstanding warrants may be taken together with the maturities of the new warrants to provide substantially equal instalments of principal and interest; and provided further, that the requirements contained in this sentence shall be directory only and shall not affect the validity of any warrants issued under this article. (Acts 1939, No. 186, p. 334, §4; Code 1940, T. 52, §219.)
AL Code § 16-13-95 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 13 - School Finances Generally.|Article 5 - Warrants for Special County and District Taxes.|Section 16-13-95 - Interest Rate.

Section 16-13-95Interest rate. All warrants issued hereunder shall bear interest at not exceeding eight percent per annum payable semiannually; provided, that the first interest payment date may be at any time not later than nine months after the date of issue. If the principal of or interest on any warrant at any time issued hereunder shall not be paid when due, the same shall bear interest after maturity until paid at the rate of eight percent per annum until paid; provided, that at any time after such principal or interest shall have become past due, the board of education may give notice of its intention to pay the same in whole or in part with interest at a specified time and place by publication at least once at least 10 days before the date fixed for such payment in a newspaper published or circulated in the county and also in a daily newspaper published in Montgomery or Birmingham. If such notice shall be duly given and if money to make such payment shall be duly provided, interest on such overdue principal or interest (or the part thereof for payment of which money is so provided) shall cease to accrue on the date fixed for such payment. (Acts 1939, No. 186, p. 334, §6; Code 1940, T. 52, §221; Acts 1969, No. 593, p. 1080, §2.)
AL Code § 16-13-97 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 13 - School Finances Generally.|Article 5 - Warrants for Special County and District Taxes.|Section 16-13-97 - Sale - Price.

Section 16-13-97Sale - Price. Warrants issued hereunder may be sold at such price or prices as the issuing board of education may deem advisable; provided, that no series of warrants issued hereunder shall be sold at a price resulting in an average annual net interest cost to the issuing board greater than eight percent computed from the date of the warrants to their respective maturities and taking into account any premium or discount reflected in the sale price. (Acts 1939, No. 186, p. 334, §9; Code 1940, T. 52, §224; Acts 1969, No. 593, p. 1080, §3.)
AL Code § 16-13-99 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 13 - School Finances Generally.|Article 5 - Warrants for Special County and District Taxes.|Section 16-13-99 - Place and Method of Payment.

Section 16-13-99Place and method of payment. All warrants issued hereunder may be made payable as to principal and interest at such banks within or without the State of Alabama as the issuing board of education may designate. The county or city superintendent of education and the custodian or treasurer of school funds, as the case may be, shall deposit sufficient funds in such bank designated by the issuing board, as the bank at which its warrants are payable to meet all maturing installments of principal of and interest on its warrants promptly as the same shall fall due. The amounts due on principal and interest of school warrants issued heretofore and hereunder shall be remitted by said banks at par, including any premium due on called warrants, and without the deduction of exchange, handling, or collection costs from the amount due the holders of said warrants. Each issuing board of education shall be authorized to compensate any paying agent bank in an amount deemed reasonable by the board of education for the services to be rendered and the expenses to be incurred by the paying agent bank. (Acts 1939, No. 186, p. 334, § 7; Code 1940, T. 52, §222; Acts 1951, No. 867, p. 1502, § 1; Acts 1987, No. 87-825p. 1673, § 1.)
AL Code § 16-13-100 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 13 - School Finances Generally.|Article 5 - Warrants for Special County and District Taxes.|Section 16-13-100 - Payment of Incidental Costs.

Section 16-13-100Payment of incidental costs. The board of education issuing any warrants hereunder may pay the cost of printing the warrants, the cost of advertising the sale, the attorneys' fees for preparing proceedings, the attorneys' fees for furnishing an opinion as to legality acceptable to the purchaser and other expenses incidental to the issue of the warrants, but only the actual cost thereof shall be paid and all such payments shall be made to those actually rendering such services and not to the purchaser of the warrants, in a lump sum or otherwise; provided, that the board of education may employ any bank or banks and person or persons to assist in making arrangements relating to the issue of refunding warrants hereunder and the sale or exchange thereof and may pay them for such services subject to the approval of the State Superintendent of Education. This section shall not authorize the payment of a commission or other compensation for procuring a purchaser of capital outlay warrants issued hereunder. (Acts 1939, No. 186, p. 334, §13; Code 1940, T. 52, §228.)
AL Code § 16-13-101 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 13 - School Finances Generally.|Article 5 - Warrants for Special County and District Taxes.|Section 16-13-101 - Redemption of Warrants Prior to Maturity.

Section 16-13-101Redemption of warrants prior to maturity. Any board of education issuing warrants hereunder may, if such action shall be deemed advisable by the issuing board, retain in the proceedings authorizing the issuance of such warrants an option to redeem prior to maturity all or any part thereof, as may be specified in such proceedings, at such price or prices and after such notice or notices and on such terms and conditions as may be set forth in such proceedings and as may be briefly recited in the face of such warrants; provided, that the redemption price for any warrant redeemed prior to maturity shall not exceed the par value of that warrant plus accrued interest thereon to the date fixed for redemption and plus a premium not exceeding 12 months' interest on such warrant computed at the rate it would by its terms bear on the date fixed for redemption if it had not been called for redemption. Notice of the call for redemption prior to maturity of any warrant issued hereunder shall be given by publication at least once, at least 30 days before the date fixed for redemption, in a newspaper published or circulated in the county and also in a daily newspaper published in Montgomery or Birmingham. (Acts 1939, No. 186, p. 334, §5; Code 1940, T. 52, §220; Acts 1969, No. 593, p. 1080, §1.)
AL Code § 16-13-102 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 13 - School Finances Generally.|Article 5 - Warrants for Special County and District Taxes.|Section 16-13-102 - Exchange and Delivery of Refunding Warrants.

Section 16-13-102Exchange and delivery of refunding warrants. Notwithstanding the provisions of Sections 16-13-96 and 16-13-97, refunding warrants issued hereunder may without advertisement be exchanged for a like amount of the warrants being refunded. If part of an authorized issue is so exchanged, the officers authorized to effect such exchange may select from the total authorized issue the particular refunding warrants to be so delivered, and the maturities of the refunding warrants at any time outstanding need not meet the requirements of this article as to equal annual instalments of principal and interest. Refunding warrants may be delivered to a bank designated by the issuing board to be held in escrow pending delivery pursuant to an order of the issuing board for the delivery or exchange of such refunding warrants, all or any part of which warrants held in escrow may be issued and sold or exchanged as other refunding warrants issued under the terms of this article. (Acts 1939, No. 186, p. 334, §10; Code 1940, T. 52, §225.)
AL Code § 16-13-103 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 13 - School Finances Generally.|Article 5 - Warrants for Special County and District Taxes.|Section 16-13-103 - Validity of Warrants.

Section 16-13-103Validity of warrants. Warrants reciting that they are issued pursuant to the terms of this article shall in any action or proceeding involving their validity be conclusively deemed to be fully authorized thereby and to have been issued, sold, executed and delivered in conformity therewith and with all other provisions of law applicable thereto and shall be incontestable, anything herein or in other statutes to the contrary notwithstanding, unless such action or proceeding is begun before or within 30 days after the day upon which the warrants are delivered and paid for, and no irregularity in the proceedings to authorize the issue of warrants hereunder nor the omission or neglect of any officer charged with the execution of any duties imposed by this article shall affect the validity of any warrants issued hereunder; provided, that the issuance of such warrants shall have been approved by the State Superintendent of Education. (Acts 1939, No. 186, p. 334, § 14; Code 1940, T. 52, §229.)