Ala. Admin. Code r. 355-2-1-.02
The rules and regulations in this chapter are prescribed for carrying into effect Code of Ala. 1975, § 41-4-16, as amended, which provides that no bonds or other evidence of indebtedness of any commission or authority created to construct or reconstruct highway bridges, approaches and appurtenances thereto, any housing authority, any state rural electrification authority, any electric membership corporation, any power district or any improvement authority shall be issued or sold until the consent to the issuance and sale thereof shall have been given by the Department of Finance. The consent of the Department of Finance is to be evidenced by the written approval of the Director of Finance. The provisions of this chapter do not apply to any bonds or other evidence of indebtedness issued by any municipality, or any agencies, bureaus or commission thereof.
Author: Department of Finance
Ala. Admin. Code r. 355-2-1-.02
Statutory Authority:Code of Ala. 1975, §§ 41-4-16, 41-4-35.