2013 Code of Alabama
Title 16 - EDUCATION.
Chapter 13 - SCHOOL FINANCES GENERALLY.
Section 16-13-97 - Sale - 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.)Disclaimer: These codes may not be the most recent version. Alabama may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
