GroundRules
Ala. Code § 11-88-103: Procedure Where Special Fund Used by Authority in Taking Up Bonds or Coupons Representing Principal at Maturity.
Where this section sits in the code
- Title 11 Counties and Municipal Corporations.
- Title 3 Provisions Applicable to Counties and Municipal Corporations.
- Chapter 88 Water, Sewer and Fire Protection Authorities.
- Article 2 Construction of Sewage Treatment or Disposal Plants, Etc., in Resort Areas by Authorities.
Where the authority has used any part of any other special fund for the purpose of taking up at maturity bonds or coupons representing a portion of the principal of bonds which had heretofore been issued for improvements and which had fallen due, the provisions of Section 11-88-102 shall be construed to permit either the issuance of refunding bonds to the authority’s treasurer as custodian of such fund or the sale of such bonds for the purpose of replacing in such fund all moneys of such fund so used.
Collected 2026-09-03T14:01:52Z. Source file · JSON