Alabama § 11-88-104 Consolidation of Outstanding Bond Issues for Refunding; Disposition of Assessments Collected for Improvements Financed by Said Outstanding Issues Generally

Alabama Statutes

§ 11-88-104 — Consolidation of Outstanding Bond Issues for Refunding; Disposition of Assessments Collected for Improvements Financed by Said Outstanding Issues Generally

Alabama·Title 11 Counties and Municipal Corporations·Ch. 88 Water, Sewer and Fire Protection Authorities·Art. 2 Construction of Sewage Treatment or Disposal Plants, Etc., in Resort Areas by Authorities

In exercising the powers conferred by Sections 11-88-102 and 11-88-103, 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 11-88-102 and 11-88-103, 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 § 11-88-104 (Consolidation of Outstanding Bond Issues for Refunding; Disposition of Assessments Collected for Improvements Financed by Said Outstanding Issues Generally) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.