There is a newer version
of
this Section
2017 Code of Alabama
Title 16 - EDUCATION.
Chapter 65 - ALABAMA HIGHER EDUCATION EQUIPMENT LOAN AUTHORITY.
Section 16-65-2 - Legislative intent.
Universal Citation: AL Code § 16-65-2 (2017)
Section 16-65-2Legislative intent.
(a) It is the intent of the Legislature by passage of this chapter to enable the state, acting by and through the authority, to aid educational institutions in the financing of capital equipment on a tax-exempt basis. To this end, the Legislature intends to authorize the authority to issue bonds for the purpose of providing funds to enable the authority to make equipment loans to educational institutions to pay equipment costs; and to provide that educational institutions shall secure the payment of such equipment loans out of a dedicated source of revenue not appropriated by the state.
(b) This chapter shall be liberally construed in conformity with the intentions of the Legislature expressed above.
(Acts 1997, No. 97-388, p. 632, §2.)
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.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
