Title 37 — Title 37
0 chapters · 612 sections in this title.
Ala. Code § 37-5-1 Definitions
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Unless the context otherwise requires, the following terms, when used in this chapter, shall have the meanings respectively ascribed to them by this section: (1) MUNICIPAL POWER DISTRICT, POWER DISTRICT or DISTRICT. A municipal power district organized under this chapter, either …
Ala. Code § 37-5-2 Creation; Alteration; Consolidation; Dissolution
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A municipal power district may be created as provided in this chapter and, when so created, shall be considered a municipal corporation and may exercise the powers granted in this chapter. The governing body of every municipality proposed to be included in a district shall pass a…
Ala. Code § 37-5-3 Purpose and General Powers
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A district shall be created for the purpose of conducting and operating a utility and, to carry out such purpose, shall have power and authority to acquire, construct, reconstruct, operate, maintain, extend or improve any utility within or without the district and to furnish, del…
Ala. Code § 37-5-4 Board of Directors - Appointment; Terms; Oath; Vacancies;
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Compensation and Expenses. The government of the district shall be vested in a board of three directors, to be appointed by the Governor within 10 days after the creation and incorporation of the district. The regular term of directors of the district after the first term shall b…
Ala. Code § 37-5-5 Board of Directors - Powers
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The board of directors of any district shall have power and authority: (1) To exercise by vote, ordinance or resolution all of the general powers of the district. (2) To make all needful rules, regulations and bylaws for the management and the conduct of the affairs of the distri…
Ala. Code § 37-5-6 Bonds - Authorization to Issue; Manner of Issuance; Repurchase;
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Interim Receipts, Etc. Each district shall have power and is authorized from time to time to issue its negotiable bonds in anticipation of the revenues from an enterprise. Said bonds may be issued for any corporate purpose or purposes of such district. Said bonds shall be authori…
Ala. Code § 37-5-7 Bonds - Consent of Department of Finance
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No bonds or other evidence of indebtedness of a district created under this chapter shall be issued or sold until consent to the issuance and sale thereof shall have been given by the Department of Finance. Such consent shall be granted only after a public hearing and after a pet…
Ala. Code § 37-5-8 Bonds - Rights and Remedies of Bondholders
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In addition to all other remedies, any holder of a bond of any district incorporated under this chapter, including a trustee for bondholders, shall have the right, subject to any contractual limitations binding upon such bondholders or trustee and subject to the prior or superior…
Ala. Code § 37-5-9 Municipal Aid
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Any municipality situated within the territorial limits of a district may advance funds to such district to pay the preliminary organization and administration expenses thereof, on such terms of repayment as the governing body of such municipality shall determine. Notwithstanding…