Ala. Code § 41-10-310: Authority to Issue Bonds.

For the purpose of providing funds for the acquisition of sites, for the construction, reconstruction, alteration, and improvement of facilities, for the procurement and installation of equipment therefor, and for payment of obligations incurred and the principal of and interest on any temporary loans made for any of the said purposes, the authority is hereby authorized, from time to time, to sell and issue its bonds (other than refunding bonds) in such aggregate principal amounts as may be determined by the board of directors of the authority to be necessary for the said purposes.