Ala. Code § 41-1-40
Current with legislation from 2024 effective through May 13, 2024.
The Legislature finds and declares that the making and managing of investments or the borrowing of money by governmental entities involves a variety of interest rate, investment, payment, and similar risks. A number of financial instruments are available to hedge against those risks. Many governmental entities lack express statutory authority to take advantage of those instruments, and it is desirable that they have the authority.
Ala. Code § 41-1-40 (1975)