Title 11 — Title 11
0 chapters · 2,499 sections in this title.
Ala. Code § 11-10-1 Authorized; Issuance of Certificates Evidencing Loans; Pledge of
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Uncollected Taxes to Secure Repayment. County commissions, for and in behalf of their respective counties, may make temporary loans in anticipation of the collection of taxes for the year in which such loans are made, and may issue certificates covering such loans and may pledge …
Ala. Code § 11-10-2 Amount of Loans; Interest, Maturity, Renewal, Etc.; Disposition of
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Proceeds. Such loans shall not be in an amount greater than $400,000.00 per year and may bear interest not to exceed 12 percent per annum. All such loans shall mature not later than February 1 of the year following that in which the loan is made and may be renewed only upon payme…
Ala. Code § 11-10-3 Registration and Payment of Certificates
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All certificates evidencing loans made under the authority of this chapter shall be registered by the county treasurer in the order of their issue and the said treasurer shall retain out of the taxes collected for the year and paid over to him a sufficient amount to pay said cert…
Ala. Code § 11-10-4 Cancellation of Certificates
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All such certificates when paid by the treasurer shall be cancelled and such cancellation and payment shall be noted on the register and it shall be unlawful thereafter to reissue such certificates. History: (Acts 1915, No. 53, p. 105; Code 1923, §242; Code 1940, T. 12, §127.)
Ala. Code § 11-10-5 Certificates Exempt from Taxation
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All certificates issued under the authority of this chapter shall be exempt from taxation. History: (Acts 1915, No. 53, p. 105; Code 1923, §243; Code 1940, T. 12, §128.)
Ala. Code § 11-10-6 State and Local Fiscal Assistance Act of 1972
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(a) The governing bodies of the counties in this state are hereby authorized, for and on behalf of their respective counties, to make temporary loans in anticipation of the receipt of payments from the United States under the State and Local Fiscal Assistance Act of 1972 (31 U.S.…