§ 11-99B-11 — Rates, Fees, Charges, Etc., for Services or Facilities Provided by District; Use of Funds

Alabama § 11-99B-11

• Jurisdiction: Alabama
• Title 11: Counties and Municipal Corporations
• Ch. 99B: Capital Improvement Cooperative Districts

Text

Rates, fees, charges, rentals, and licenses for services rendered by the district or facilities provided by the district from any of its projects shall be so fixed and, from time to time, revised as at all times to provide funds at least sufficient, taking into account other sources for the payment thereof, to:
(1) Pay the cost of constructing, operating, maintaining, repairing, replacing, extending, and improving the project or projects of the district and to pay the cost of any new or additional projects.
(2) Pay the principal of and the interest on all bonds issued and obligations assumed by the district that are payable out of the revenues derived from operation of the project or projects of the district as the principal and interest become due and payable.
(3) Create and maintain reserves for the foregoing purposes as may be provided in any trust indenture executed by the district under this chapter or in any resolutions of the board authorizing the issuance of bonds, the assumption of any obligation, or the acquisition of any project.
(4) Make annual payments, if any, to the United States of America or any agency or instrumentality thereof, the state, municipalities, counties, departments, authorities, agencies, and political subdivisions of the state, and any public corporations organized under the laws of the state as the district may have contracted to make.

Legislative History

(Act 2000-781, p. 1825, §11; Act 2024-452, §1.)