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 § 11-81-121

JurisdictionAlabama

Title 11Counties and Municipal Corporations

Ch. 81Municipal and County Bonds

Art. 4Public Improvement Bonds

Div. 1Bonds for Street and Sidewalk Improvements, Sewer Systems or Other Improvements Generally

This text of Alabama § 11-81-121 (Consolidation of Separate Outstanding Issues for Issuance of Refunding Bonds) 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 § 11-81-121 (2026).

Text

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.

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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.