Alabama § 11-81-121 Consolidation of Separate Outstanding Issues for Issuance of Refunding Bonds

Alabama Statutes

§ 11-81-121 — Consolidation of Separate Outstanding Issues for Issuance of Refunding Bonds

Alabama·Title 11 Counties and Municipal Corporations·Ch. 81 Municipal and County Bonds·Art. 4 Public Improvement Bonds·Div. 1 Bonds for Street and Sidewalk Improvements, Sewer Systems or Other Improvements Generally

In exercising the powers conferred by Sections 11-81-119 and 11-81-120, it shall not be necessary to make a separate issue of refunding bonds with respect to each outstanding issue, but two or more of such outstanding issues or portions thereof may be grouped together in a single refunding issue, in which event all assessments thereafter collected with respect to any of the improvements financed by the separate issues or the proper proportionate part thereof shall be applicable to the payment of such refunding bonds.

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

In exercising the powers conferred by Sections 11-81-119 and 11-81-120, it shall not be necessary to make a separate issue of refunding bonds with respect to each outstanding issue, but two or more of such outstanding issues or portions thereof may be grouped together in a single refunding issue, in which event all assessments thereafter collected with respect to any of the improvements financed by the separate issues or the proper proportionate part thereof shall be applicable to the payment of such refunding bonds.

Alabama § 11-81-121 (Consolidation of Separate Outstanding Issues for Issuance of Refunding Bonds) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.