HB63 Alabama 2019 Session

Summary

Primary Sponsor

Steve McMillan

Republican

Session

Regular Session 2019

Title

County housing authorities, bonds, electronic posting of notices to potential purchasers of bonds, eliminate bids from being advertised for three weeks, Secs. 24-1-71, 24-1-83, 41-4-16 am'd.

Description

Under existing law, the bonds of a county housing authority may be sold at a public sale after notice has been published in a newspaper circulating in the county and in a financial newspaper published in the City of New York, New York, or in the City of New Orleans, Louisiana.

Under existing law, a county housing authority is prohibited from entering into any contract for the construction of any house or building or purchase of materials for the construction of any house or building costing more than $100 without three weeks' advertising for bids and a public letting to the lowest responsible bidder.

Under existing law, no bonds of any housing authority may be issued or sold without prior written consent of the Department of Finance.

This bill would add the option of electronic posting of the notice to potential purchasers of the bonds.

This bill would eliminate the requirement for bids to be advertised for three weeks and publicly let to the lowest responsible bidder.

This bill would also exclude municipal, county, and regional housing authorities from the requirement of obtaining prior written consent of the Department of Finance to issue and sell bonds.

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Subjects

Housing Authorities