2017 Code of Alabama
Title 23 - HIGHWAYS, ROADS, BRIDGES AND FERRIES.
Chapter 7 - ALABAMA TRANSPORTATION INFRASTRUCTURE BANK ACT.
Section 23-7-6 - Funding.

(a) The following sources may be used to capitalize the bank and for the bank to carry out its purposes:

(1) An annual contribution, as determined by the Director of the Department of Transportation and approved by the Governor, of an amount not to exceed revenues produced by one cent ($.01) a gallon of the tax on gasoline imposed pursuant to Act 2011-565, 2011 Regular Session. Any funds contributed pursuant to this subdivision shall be derived from the gasoline tax proceeds remaining in the Public Road and Bridge Fund after distributions of the tax to the cities and counties. Any contributions which are to provide funds for debt service on bonds issued by the bank shall continue until the bonds have been fully repaid.

(2) An annual contribution, as determined by the Director of the Department of Transportation and approved by the Governor, of an amount of the revenues collected pursuant to Section 40-12-248, not to exceed the balance remaining in the Public Road and Bridge Fund pursuant to Section 40-12-270(d)(3), after the distributions required pursuant to Sections 40-12-270(d)(1) and 40-12-270(d)(2). Any contributions which are to provide funds for debt service on bonds issued by the bank shall continue until the bonds have been fully repaid.

(3) Federal funds made available to the state.

(4) Federal funds made available to the state for the bank.

(5) Contributions and donations from government units, and any other source as may become available to the bank including, but not limited to, appropriations from the Legislature.

(6) All monies paid or credited to the bank, by contract or otherwise, payments of principal and interest on loans or other financial assistance made from the bank, and interest earnings which may accrue from the investment or reinvestment of the bank's monies.

(7) Proceeds from the issuance of bonds as provided in this chapter.

(8) Other lawful sources as determined appropriate by the board.

(9) Loans from the department to the bank to be repaid from revenues committed to the bank for the following year.