Alabama § 11-92C-20 Dissolution of Authority and Vesting of Title to Property

Alabama Statutes

§ 11-92C-20 — Dissolution of Authority and Vesting of Title to Property

Alabama·Title 11 Counties and Municipal Corporations·Ch. 92C Local Redevelopment Authorities

At any time when an authority has no bonds or other obligations outstanding, its board may adopt a resolution, which shall be duly entered upon its minutes, declaring that the authority shall be dissolved. Upon filing for record of a certified copy of the resolution in the office of the judge of probate of the county in which the authority was formed pursuant to Section 11-92C-4, the authority shall stand dissolved and in the event it owned any property at the time of its dissolution, the title to all its properties shall thereupon pass to the authorizing subdivision or private user as required by any agreement with any private user.

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

At any time when an authority has no bonds or other obligations outstanding, its board may adopt a resolution, which shall be duly entered upon its minutes, declaring that the authority shall be dissolved. Upon filing for record of a certified copy of the resolution in the office of the judge of probate of the county in which the authority was formed pursuant to Section 11-92C-4, the authority shall stand dissolved and in the event it owned any property at the time of its dissolution, the title to all its properties shall thereupon pass to the authorizing subdivision or private user as required by any agreement with any private user.

Alabama § 11-92C-20 (Dissolution of Authority and Vesting of Title to Property) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.