Alabama Code 25-4-57. Payment of interest on moneys advanced by federal government – Assessment to discontinue when all interest paid; payment of interest on money advanced after previously borrowed funds repaid
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Alabama Code 25-4-57
- following: means next after. See Alabama Code 1-1-1
- State: as used in this chapter , includes, in addition to the states of the United States, the District of Columbia, the Virgin Islands, Puerto Rico, and Canada. See Alabama Code 25-4-14
- year: means a calendar year; but, whenever the word "year" is used in reference to any appropriations for the payment of money out of the treasury, it shall mean fiscal year. See Alabama Code 1-1-1
Payment of any assessment as provided under Section 25-4-55 shall be discontinued for the calendar year next following the calendar year during which all interest due to be paid on all advances has been paid. If it becomes necessary to borrow money from the federal government under the provisions of State; application; certification; limitation” class=”unlinked-ref” datatype=”S” statecd=”US” title=”42″>42 U.S.C. § 1321 subsequent to the calendar year in which all previously borrowed advances are repaid, assessments shall be made under the provisions prescribed in Section 25-4-55.