Alabama § 11-62-12 Establishment and Maintenance of Special Debt Service Reserve Funds, Etc

Alabama Statutes

§ 11-62-12 — Establishment and Maintenance of Special Debt Service Reserve Funds, Etc

Alabama § 11-62-12

Title 11Counties and Municipal Corporations

Ch. 62Municipal Special Health Care Facility Authorities

This text of Alabama § 11-62-12 (Establishment and Maintenance of Special Debt Service Reserve Funds, 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 § 11-62-12 (2026).

Text

Any authority may establish and maintain one or more special debt service reserve funds and such other special fund or funds as may be necessary or desirable for its corporate purposes and may pay into each such fund any moneys contributed or granted to such authority for the purpose of such fund by any governmental or public entity or any private party, any proceeds from the sale of bonds or notes to the extent provided in the resolution adopted by the board of such authority authorizing the issuance of such bonds or notes and any other moneys which may be made available to such authority for the purpose of such fund from any other source or sources.

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

Any authority may establish and maintain one or more special debt service reserve funds and such other special fund or funds as may be necessary or desirable for its corporate purposes and may pay into each such fund any moneys contributed or granted to such authority for the purpose of such fund by any governmental or public entity or any private party, any proceeds from the sale of bonds or notes to the extent provided in the resolution adopted by the board of such authority authorizing the issuance of such bonds or notes and any other moneys which may be made available to such authority for the purpose of such fund from any other source or sources.