2016 Code of Alabama
Title 16 - EDUCATION.
Chapter 60 - TRADE SCHOOLS AND JUNIOR COLLEGES.
Article 5 - Management and Control of Trade Schools and Junior Colleges.
Section 16-60-113 - Authority to borrow in anticipation of current revenues if funds not sufficient to pay teachers' salaries.
THIS SECTION WAS AMENDED BY ACT 2015-125 IN THE 2015 REGULAR SESSION, EFFECTIVE MAY 12, 2015.
THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.
Any community or technical college , during any fiscal year upon the approval of the Chancellor, may borrow money in anticipation of the current revenues for that fiscal year and pledge the current revenues for that fiscal year for payment of such loan or loans if funds on hand are not sufficient to pay the salaries of teachers for any given month. Any amount borrowed may not exceed one month's allotment and may not exceed the amount of the state appropriation minus the amount disbursed from the annual allotment to the college.
(Acts 1969, No. 1153, p. 2159; Acts 1982, No. 82-486, p. 805, §12; Act 2015-125, §6.)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.
