SB84 Alabama 2017 Session

Updated Feb 27, 2026

Notable

Summary

Primary Sponsor: Gerald O. Dial
Republican
Session: Regular Session 2017
Title: State Parking Deck Authority, maturity date for bonds further provided for, specifications of state parking deck altered, transfer to General Fund from Authority's reserve fund, Secs. 41-10-490, 41-10-497, 41-10-500, 41-10-502, 41-10-513, 41-10-516 am'd.
Summary: SB84 updates the Alabama State Parking Deck Authority by extending bond maturity, expanding parking deck specs and leasing options, enabling reserve-fund transfers to the General Fund, and increasing the bond cap.
What This Bill Does
The bill allows bonds to mature up to 32 years after issue. It expands the Authority's leasing power to include private parties in addition to state agencies. It creates a process for collecting delinquent lease payments (90 days or more late) via warrants ordered by the Director of Finance and paid by the State Comptroller. It also permits transferring funds from the reserve fund to the State General Fund after all bonds are paid, increases the maximum bond amount, requires planning for a mirror image of the Persons Office Building, and repeals a prior section.

Who It Affects
The Alabama State Parking Deck Authority and any private parties that may lease facilities, as they gain extended bond terms, broader leasing options, and new financial mechanics.
State financial offices (Director of Finance and State Comptroller) and the State General Fund, as they become involved in delinquent lease collection and potential reserve-fund transfers.

Key Provisions
Bond maturity extended to up to 32 years after issue date.
Authority may lease facilities to private parties in addition to state agencies.
Delinquent lease payments (90+ days in arrears) may be collected via warrants directed by the Director of Finance and paid by the State Comptroller.
Reserve fund money may be transferred to the State General Fund after all bonds are paid.
Maximum amount of bonds the Authority may issue is increased.
Parking deck design must accommodate a mirror image of the Persons Office Building and be approved by the Authority and the Building Commission.
Section 41-10-515 is repealed.

AI-generated summary using openai/gpt-5-nano on Feb 24, 2026. May contain errors — refer to the official bill text for accuracy.
Subjects: Bonds