Alabama Charter School Finance Authority, bonding authority established, legislative findings, board membership, powers, contracts, investments

SB 267 establishes the Alabama Charter School Finance Authority, a new public entity designed to assist public state charter educational institutions. This Authority is empowered to issue bonds to raise funds. These funds will then be used to provide financing loans to charter schools for "project costs," which include expenses like facility construction, acquisition, and equipment. Charter schools that receive these loans must secure their repayment from a dedicated source of revenue.