SB217 Alabama 2025 Session

Updated Jan 14, 2026

Senate Bill

In Committee

Current Status

2025 Regular Session

Session

Sponsor

Summary

Primary Sponsor: Arthur Orr Senator
Republican
Session: 2025 Regular Session
Title: Require bond financing agreement documents to include schedule of debt obligation of county
Description: Existing law requires a county to complete a county government bond financing review form that is prepared by the Department of Examiners of Public Accounts when executing a bond financing agreement that acknowledges that the county has considered the relevant factors important to the decision of entering into bonded indebtedness. The form must be submitted to the Department of Examiners of Public Accounts and made available for public inspection.
This bill would require the bond financing agreement documents to include a schedule of all of the debt obligations of the county for the time span of the maturity of the debt obligation at issue and would require the chair of the county commission and the authorized signatory for the bond underwriter to sign an acknowledgment that the total amount of debt obligations and a schedule of the total debt payments have been presented and explained to all members of the county commission prior to the sale of bonds.
This bill would add to the county government bond financing review form a statement acknowledging that the county commission has received from the bond underwriter a potential debt service schedule for all county debt for the time span of the maturity of the SB217 INTRODUCED debt obligation at issue and has been advised of the ability of the county to pay all of the debt obligations.
This bill would require a municipality to follow the same procedures required of a county before entering into a bond financing agreement and would require the municipality to complete a government bond financing review form developed by the Department of Examiners of Public Accounts when executing a bond financing agreement acknowledging that the municipality has considered the relevant factors important to the decision of entering into bonded indebtedness.
This bill would also require that the form be submitted to the Department of Examiners of Public Accounts and made available for public inspection.
Subjects: Counties & Municipalities