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AL SB84
Bill
AI Summary
SB84 Summary: Constituents' and Employees' Safe and Convenient Parking Act
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Increases maximum bond issuance by Alabama State Parking Deck Authority from existing limit to $13,000,000.00.
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Extends bond maturity date from 20 years to 32 years after bond issuance.
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Authorizes authority to lease parking facilities to private parties in addition to state agencies, with enforcement mechanisms for delinquent lease payments of 90+ days.
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Permits transfer of accumulated reserve fund amounts to State General Fund after all authority bonds are fully paid.
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Removes requirement that parking deck accommodate construction of mirror image of Persons Office Building; retains requirement for Division of Construction Management approval of plans.
Legislative Description
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.
Bonds
Last Action
Read for the first time and referred to the House of Representatives committee on Ways and Means General Fund
4/11/2017