Alabama § 11-54-173 Filing of Application; Contents; Authorization or Denial of Incorporation by Governing Body of Authorizing Municipality

Alabama Statutes

§ 11-54-173 — Filing of Application; Contents; Authorization or Denial of Incorporation by Governing Body of Authorizing Municipality

Alabama·Title 11 Counties and Municipal Corporations·Ch. 54 Promotion of Industry, Trade, Commerce and Pollution Control·Art. 6 Commercial Development Authorities

(a)A public corporation may be organized pursuant to the provisions of this article in any municipality. In order to incorporate such a public corporation, any number of persons shall first file a written application with the governing body of such municipality, which application shall:

(1)Contain a statement that the applicants propose to incorporate an authority pursuant to the provisions of this article.

(2)State the proposed location of the principal office of the authority, which shall be within the corporate limits of the municipality with whose governing body such application is filed.

(3)Request that the governing body of such municipality adopt a resolution declaring that it is wise, expedient, and necessary that the proposed authority be formed and authorizing the applicants

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(a) A public corporation may be organized pursuant to the provisions of this article in any municipality. In order to incorporate such a public corporation, any number of persons shall first file a written application with the governing body of such municipality, which application shall:
(1) Contain a statement that the applicants propose to incorporate an authority pursuant to the provisions of this article.
(2) State the proposed location of the principal office of the authority, which shall be within the corporate limits of the municipality with whose governing body such application is filed.
(3) Request that the governing body of such municipality adopt a resolution declaring that it is wise, expedient, and necessary that the proposed authority be formed and authorizing the applicants to proceed to form the proposed authority by the filing for record of a certificate of incorporation in accordance with the provisions of Section 11-54-174.
(b) Every such application shall be accompanied by such supporting documents or evidence as the applicants may consider appropriate. As promptly as may be practicable after the filing of the application with it in accordance with the provisions of this section, the governing body of the municipality with which the application was filed shall review the contents of the application, and shall adopt a resolution either (i) denying the application or (ii) declaring that it is wise, expedient, and necessary that the proposed authority be formed and authorizing the applicants to proceed to form the proposed authority by the filing for record of a certificate of incorporation in accordance with the provisions of Section 11-54-174. The governing body with which the application is filed shall also cause a copy of the application to be spread upon or otherwise made a part of the minutes of the meeting of such governing body at which final action upon the application is taken.

Alabama § 11-54-173 (Filing of Application; Contents; Authorization or Denial of Incorporation by Governing Body of Authorizing Municipality) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.