The State Superintendent of Education shall review and/or
approve each application by/for each county or city board of education for the
sale of Tax Anticipation Warrants and/or Notes in Anticipation of Warrants
and/or Warrants for Public Construction.
(1) Tax Anticipation Warrants.
(a) Tax Anticipation Warrants in Cities and
Counties proposed to be issued pursuant to Code of Ala.
1975, §§
16-13-70 through
16-13-77.
(b) Warrants for Special County and District
Taxes proposed to be issued pursuant to Code of Ala.
1975, §§
16-13-90 through
16-13-109.
(c) Warrants for Special License, Privilege
or Excise Taxes to be issued pursuant to Code of Ala.
1975, §§
16-13-120 through
16-13-122.
(2) Notes in Anticipation of Warrants.
(a) Notes in Anticipation of Warrants
proposed to be issued pursuant to Code of Ala. 1975,
§§
16-13-210 through
16-13-217.
(3) Warrants for Public Construction.
(a) Proposal for agreement pertaining to
Warrants for Public Construction pursuant to Code of Ala.
1975, Title 11, Chapter 28 for capital outlay or debt refunding
for capital outlay.
(b) Exceptions
to Alabama Administrative Code r.
290-1-2-.01.01(3)(a)
(above).
1. Proposed agreement pertaining to
warrant issues and refunding issues with a county, city, or other agency shall
not be approved when subject issue or agreement includes monies for operations,
except:
(i) in the case when there is a net
savings to the local board of education due to refunding a warrant issue;
and
(ii) the time for repayment of
the refunded warrant is not extended.
Author: Mr. William J. Rutherford
Notes
Ala. Admin. Code r.
290-1-2-.01.01
New Rule: Filed January 14,
1993 effective February 19, 1993.
Statutory Authority:
Code of Ala.
1975, §§
16-4-8;
16-13-70 through
16-13-77;
16-13-90 through
16-13-109;
16-13-120 through
16-13-122.
