Alabama § 11-86A-21 Dissolution of Authority; Title to Property of Authority to Vest in County of Incorporation Upon Dissolution of Authority Unless Otherwise Provided

Alabama Statutes

§ 11-86A-21 — Dissolution of Authority; Title to Property of Authority to Vest in County of Incorporation Upon Dissolution of Authority Unless Otherwise Provided

Alabama·Title 11 Counties and Municipal Corporations·Ch. 86A Public Park and Recreation Authorities

(a)At any time when no bonds of an authority are outstanding, the authority may be dissolved by the adoption of a resolution by the board of directors recommending dissolution and by the approval of the dissolution by the governing body of the county of incorporation and each participating municipality and the adoption of a resolution to the effect that the county and each participating municipality concur. The resolution need not be published or posted and need not be offered for more than one reading. Upon the dissolution the chair and secretary of the dissolved authority shall execute articles of dissolution reciting that the resolutions have been adopted and that the authority has been dissolved. The articles of dissolution shall be filed with the probate judge, who shall record the d

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(a) At any time when no bonds of an authority are outstanding, the authority may be dissolved by the adoption of a resolution by the board of directors recommending dissolution and by the approval of the dissolution by the governing body of the county of incorporation and each participating municipality and the adoption of a resolution to the effect that the county and each participating municipality concur. The resolution need not be published or posted and need not be offered for more than one reading. Upon the dissolution the chair and secretary of the dissolved authority shall execute articles of dissolution reciting that the resolutions have been adopted and that the authority has been dissolved. The articles of dissolution shall be filed with the probate judge, who shall record the dissolution.
(b) Upon dissolution of an authority, title to all its property shall be vested in the public persons in its articles, or if no specification exists, in the county of incorporation.

Alabama § 11-86A-21 (Dissolution of Authority; Title to Property of Authority to Vest in County of Incorporation Upon Dissolution of Authority Unless Otherwise Provided) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.