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143 chapters · 3,669 sections in this title.
Ala. Code § 11-60-1 Definitions
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Whenever used in this chapter, unless a different meaning clearly appears in the context, the following terms, whether used in the singular or plural, shall be given the following respective meanings: (1) CORPORATION. Any corporation organized pursuant to the provisions of this c…
Ala. Code § 11-60-10 Bonds - Notice of Resolution Authorizing Issuance of Bonds; Limitation Period for Actions, Etc., as to Validity of Proceedings for Issuance of Bonds, Etc
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(a) Upon the adoption by the board of directors of any resolution providing for the issuance of bonds, the corporation may, in its discretion, cause to be published once a week for two consecutive weeks in a newspaper published in the municipality or, if there is no newspaper pub…
Ala. Code § 11-60-11 Bonds - Security for Payment of Principal or 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 and receipts out of which the same shall be made payable and may be secured by mortgage or deed of trust covering all or any part of the projects from which the reven…
Ala. Code § 11-60-12 Borrowing of Money for Temporary Use and Issuance of Temporary Revenue Bonds as Evidence Thereof
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(a) The corporation may, in addition to the other powers granted in this chapter, borrow money for temporary use for any of its corporate purposes and in evidence of such borrowing issue from time to time revenue bonds or notes maturing not later than 18 months from the date of i…