Alabama § 11-81-171 Revenue Bonds - Redemption

Alabama Statutes

§ 11-81-171 — Revenue Bonds - Redemption

Alabama § 11-81-171

Title 11Counties and Municipal Corporations

Ch. 81Municipal and County Bonds

Art. 5Revenue Bonds for Waterworks, Gas, Sewer or Electric Systems

This text of Alabama § 11-81-171 (Revenue Bonds - Redemption) 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 § 11-81-171 (2026).

Text

The governing body of the borrower authorizing bonds under the provisions of this article may make provision for any of such bonds to be called for payment on any interest payment date before maturity, with or without a premium, upon such terms and conditions as the governing body may prescribe; provided, however, that the amount of premium on any bonds shall not cause the yield to be more than six percent per annum from the date of the sale of such bonds to the date of their redemption.

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The governing body of the borrower authorizing bonds under the provisions of this article may make provision for any of such bonds to be called for payment on any interest payment date before maturity, with or without a premium, upon such terms and conditions as the governing body may prescribe; provided, however, that the amount of premium on any bonds shall not cause the yield to be more than six percent per annum from the date of the sale of such bonds to the date of their redemption.