Establishes the Alabama Charter School Finance Authority to issue bonds for financing loans to public charter schools.
The Alabama Charter School Finance Authority Act creates a public body to issue bonds for financing loans to public charter schools in Alabama. The authority can secure these loans with dedicated revenue sources. The authority is empowered to issue bonds, enter into contracts, and make investments. The authority's bonds are not general obligations of the state and are payable solely from specified sources. The authority's legal residence is in Montgomery County, and any legal actions must be brought there. The act becomes effective on October 1, 2026.
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