HB181 Summary

• Authorizes the Alabama Building Renovation Finance Authority to issue up to $50 million in additional bonds for construction, renovation, and improvement of public office building facilities including the State Capitol.

• Permits bond sales through public sale, private sale, or negotiation at prices determined by the Authority to achieve the lowest true interest cost.

• Allows multiple bond series to be authorized in a single board resolution with specific details specified in separate resolutions for each series.

• Requires notice of public bond sales be published in a financial journal or newspaper in New York City and in an Alabama newspaper at least 10 days before the sale date.

• Requires Governor approval of bond terms and conditions as a prerequisite to bond validity, with approval recorded in board meeting minutes.