Alabama § 11-44C-73 Revenue Notes

Alabama Statutes

§ 11-44C-73 — Revenue Notes

Alabama·Title 11 Counties and Municipal Corporations·Ch. 44C Government of Class 2 Municipalities

In any budget year, in anticipation of the collection of revenues, the council may by resolution authorize the borrowing of money by the issuance of negotiable notes of the city, each of which shall be designated “revenue note for the year _____ (stating the budget year).” Such notes may be renewed from time to time, but all such notes, together with the renewals, shall mature and be paid not later than the end of the fiscal year after the budget year in which the original notes have been issued. Such borrowing shall be subject to any limitation provided by law.

Free access — add to your briefcase to read the full text and ask questions with AI

In any budget year, in anticipation of the collection of revenues, the council may by resolution authorize the borrowing of money by the issuance of negotiable notes of the city, each of which shall be designated “revenue note for the year _____ (stating the budget year).” Such notes may be renewed from time to time, but all such notes, together with the renewals, shall mature and be paid not later than the end of the fiscal year after the budget year in which the original notes have been issued. Such borrowing shall be subject to any limitation provided by law.

Alabama § 11-44C-73 (Revenue Notes) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.