§ 6-20-1201 - Authority to borrow money and issue negotiable bonds.
6-20-1201. Authority to borrow money and issue negotiable bonds.
A school district may borrow money and issue negotiable bonds to repay borrowed moneys from school funds for:
(1) Building and equipping school buildings;
(2) Making additions and repairs to school buildings;
(3) Purchasing sites for school buildings;
(4) Purchasing new or used school buses;
(5) Refurbishing school buses;
(6) Providing professional development and training of teachers or other programs authorized under the federally recognized Qualified Zone Academy Bond program, 26 U.S.C. 1397E; and
(7) Paying off outstanding postdated warrants, installment contracts, revolving loans, and lease-purchase agreements, as provided by law.