Alabama SB208 removes the requirement for state rural electrification authorities and electric membership corporations to obtain Department of.

Alabama SB208 amends Section 41-4-16 of the Code of Alabama 1975 to eliminate the necessity for state rural electrification authorities and electric membership corporations to seek approval from the Department of Finance before issuing bonds or other evidences of indebtedness. Previously, these entities had to obtain written approval from the Director of Finance, which required a public hearing and a petition detailing the proposed project and use of proceeds.

Alabama SB208 removes the requirement for state rural electrification authorities and electric membership corporations to obtain Department of.

Alabama SB208 amends Section 41-4-16 of the Code of Alabama 1975 to eliminate the necessity for state rural electrification authorities and electric membership corporations to seek approval from the Department of Finance before issuing bonds or other evidences of indebtedness. Previously, these entities had to obtain written approval from the Director of Finance, which required a public hearing and a petition detailing the proposed project and use of proceeds.