SB79 Summary

• Authorizes electronic posting of bond sale notices on websites or Internet services as an alternative to financial newspaper publication, with at least 10 days' notice required before sale.

• Eliminates the three-week advertising requirement and public bidding process for construction contracts and material purchases costing more than $100.

• Exempts municipal, county, and regional housing authorities from the requirement to obtain prior written consent from the Department of Finance before issuing and selling bonds.

• Applies to county housing authorities' bond issuance procedures under Alabama Code Sections 24-1-71, 24-1-83, and 41-4-16.

• Becomes effective on the first day of the third month following passage and approval by the Governor.