Alabama § 11-50-11 Provision in Mortgages or Deeds of Trust as to Disposition of Revenues, Etc., from Plants, Rates, and Charges, Etc

Alabama Statutes

§ 11-50-11 — Provision in Mortgages or Deeds of Trust as to Disposition of Revenues, Etc., from Plants, Rates, and Charges, Etc

Alabama § 11-50-11

Title 11Counties and Municipal Corporations

Ch. 50Public Utilities

Art. 1General Provisions

This text of Alabama § 11-50-11 (Provision in Mortgages or Deeds of Trust as to Disposition of Revenues, Etc., from Plants, Rates, and Charges, Etc) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 11-50-11 (2026).

Text

Such mortgages or deeds of trust hereby authorized may provide that during the ownership of the plant or system by the municipality, its control of the service of the system or systems shall not be diminished or interfered with by the grant of any other franchise for the operation of any other plant or system for similar purposes and that such rates and charges shall be established and maintained sufficient to meet the costs of operation and maintenance; and such cities or towns may pledge all of the receipts, earnings, and revenues from the operation of any and all of such plants for the payments of the debts, bonds, or other evidences secured by such mortgages or deeds of trust.

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Such mortgages or deeds of trust hereby authorized may provide that during the ownership of the plant or system by the municipality, its control of the service of the system or systems shall not be diminished or interfered with by the grant of any other franchise for the operation of any other plant or system for similar purposes and that such rates and charges shall be established and maintained sufficient to meet the costs of operation and maintenance; and such cities or towns may pledge all of the receipts, earnings, and revenues from the operation of any and all of such plants for the payments of the debts, bonds, or other evidences secured by such mortgages or deeds of trust.