There is a newer version of the Code of Alabama
2015 Code of Alabama
Title 16 - EDUCATION.
Chapter 13 - SCHOOL FINANCES GENERALLY.
Article 7 - Budget System.
Section 16-13-146 - Interest rate on current loans.
AL Code § 16-13-146 (2015) What's This?
Section 16-13-146Interest rate on current loans. County and city boards of education shall have authority to pay interest at a rate not exceeding eight percent per annum on current loans secured in accordance with the provisions of Section 16-13-145. County and city boards of education shall have the right to call upon the State Superintendent of Education for assistance in securing loans at as low an interest rate as possible.
(Code 1940, T. 52, §244; Acts 1981, No. 81-822, p. 1465, §9.)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.
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