AL SB272

Authorizes the Alabama Building Renovation Finance Authority to issue bonds not to exceed $50 million for construction, renovation, reconstruction, improvement, alteration, addition, demolition, surfacing and resurfacing of land for parking, equipment, and operation and maintenance of public office building facilities including the State Capitol.

Amends Section 41-10-461 to clarify that bonds may be sold at public sale, private sale, or via negotiation as determined by the Authority to achieve the lowest effective borrowing true interest cost.

Requires Governor approval of the terms and conditions under which bonds may be issued as a prerequisite to their validity.

Repeals conflicting laws and includes severability clause providing that if any part of the act is declared invalid or unconstitutional, the remaining provisions remain in effect.

Becomes effective immediately upon passage and approval by the Governor or upon otherwise becoming law.