Alabama § 45-49-90.15 Sales of Parcels of Property

Alabama Statutes

§ 45-49-90.15 — Sales of Parcels of Property

Alabama § 45-49-90.15

JurisdictionAlabama

Title 45Local Laws

Ch. 49Mobile County

Art. 9Economic and Industrial Development and Tourism

Part 1Industrial Parks

This text of Alabama § 45-49-90.15 (Sales of Parcels of Property) 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 § 45-49-90.15 (2026).

Text

The sales price of any part of an industrial park shall be no less than the greater of the consideration for purchase paid by the participants plus the cost of all improvements made in the development of the property and the costs of financing the acquisition and development, other than interest on any bonds, prorated on the basis of the acreage involved, or the then fair market value of the property to be sold as determined by an appraisal by a real estate appraiser whose appraisals are accepted by local lending institutions.

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The sales price of any part of an industrial park shall be no less than the greater of the consideration for purchase paid by the participants plus the cost of all improvements made in the development of the property and the costs of financing the acquisition and development, other than interest on any bonds, prorated on the basis of the acreage involved, or the then fair market value of the property to be sold as determined by an appraisal by a real estate appraiser whose appraisals are accepted by local lending institutions.