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143 chapters · 3,669 sections in this title.
Ala. Code § 11-59-1 Definitions
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Wherever used in this chapter, unless a different meaning clearly appears in the context, the following terms shall be given the following respective meanings: (1) CORPORATION. Any corporation organized pursuant to the provisions of this chapter. (2) MUNICIPALITY. Any incorporate…
Ala. Code § 11-59-10 Bonds - Security for Payment of Principal and Interest; Remedies Upon Default
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The principal of and interest on any bonds issued by the corporation shall be secured by a pledge of the revenues out of which the same shall be made payable and may be secured by a mortgage or deed of trust covering all or any part of the facilities from which the revenues so pl…
Ala. Code § 11-59-11 Liability of Municipalities Upon Bonds, Obligations, Agreements, Etc., of Corporations
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The municipality shall not in any event be liable for the payment of the principal of or interest on any bonds of the corporation or for the performance of any pledge, mortgage, obligation or agreement of any kind whatsoever which may be undertaken by the corporation, and none of…
Ala. Code § 11-59-12 Conveyances of Properties to Corporations by Municipalities
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The municipality is hereby authorized and empowered to transfer and convey to the corporation any properties which, at the time of such transfer and conveyance, may have been acquired by such municipality as a site for or which may then be used as a facility, together with such i…