Alabama § 11-50-150 Execution of Sale, Lease, Etc., by Governing Body and Terms Thereof

Alabama Statutes

§ 11-50-150 — Execution of Sale, Lease, Etc., by Governing Body and Terms Thereof

Alabama § 11-50-150

Title 11Counties and Municipal Corporations

Ch. 50Public Utilities

Art. 4Sale, Lease, Etc., of Electric, Gas or Waterworks Plants by Municipalities

This text of Alabama § 11-50-150 (Execution of Sale, Lease, Etc., by Governing Body and Terms Thereof) 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 § 11-50-150 (2026).

Text

If the result of such election shall be in favor of a sale, lease, or disposition of the plant, the board of aldermen or other governing body of the city or town may proceed to sell, lease, or dispose of the electric light plant, gas plant, or waterworks plant owned by such city or town at a price not less than the minimum price fixed as provided in Section 11-50-142, and upon such terms and time of payment as to the said board of aldermen or governing body may seem best, but if there are deferred payments, the same must be secured by a lien on the plant sold or disposed of.

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If the result of such election shall be in favor of a sale, lease, or disposition of the plant, the board of aldermen or other governing body of the city or town may proceed to sell, lease, or dispose of the electric light plant, gas plant, or waterworks plant owned by such city or town at a price not less than the minimum price fixed as provided in Section 11-50-142, and upon such terms and time of payment as to the said board of aldermen or governing body may seem best, but if there are deferred payments, the same must be secured by a lien on the plant sold or disposed of.