SB242 Alabama 2020 Session

Summary

Primary Sponsor

Arthur Orr Senator

Republican

Session

Regular Session 2020

Title

Public School and College Authority, one billion dollars in bonds authorized to be issued for capital improvement for public schools, community colleges, and other colleges

Description

This bill authorizes the Alabama Public School and College Authority to sell and issue $1,000,000,000 in aggregate principal amount of additional bonds for capital improvements for the support of public education and provides for the distribution of bond proceeds to public schools, community colleges, and public institutions of higher education. This bill provides for the details of the bonds, for the duties of the Authority in issuing and administering the bonds, and for refunding bonds under certain conditions.

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Subjects

Bonds