Alabama § 45-57A-63.105 Down Payments on Capital Projects

Alabama Statutes

§ 45-57A-63.105 — Down Payments on Capital Projects

Alabama § 45-57A-63.105

JurisdictionAlabama

Title 45Local Laws

Ch. 57ARussell County Municipalities

Art. 6Phenix City

Part 4Government

Subpart 5Budget

This text of Alabama § 45-57A-63.105 (Down Payments on Capital Projects) 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 § 45-57A-63.105 (2026).

Text

In the budget and budget proposal under the special caption of down payments on capital projects, as provided in subdivision (12) of Section 45–57A–63.103, there shall be separately stated as to each capital project for which it is expected that bonds will be authorized during the budget year, a sum which is not less than five percent of the amount of bonds to be authorized for that project. For purposes of the down payment, all street improvements expected to be partly financed by the issuance of bonds during the budget year may be considered a single project; so also may all proposed extensions of the water system, and likewise all extensions of the sewer system. Such an appropriation for a down payment shall not be required before the issuance of bonds to finance any capital expenditure

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In the budget and budget proposal under the special caption of down payments on capital projects, as provided in subdivision (12) of Section 45–57A–63.103, there shall be separately stated as to each capital project for which it is expected that bonds will be authorized during the budget year, a sum which is not less than five percent of the amount of bonds to be authorized for that project. For purposes of the down payment, all street improvements expected to be partly financed by the issuance of bonds during the budget year may be considered a single project; so also may all proposed extensions of the water system, and likewise all extensions of the sewer system. Such an appropriation for a down payment shall not be required before the issuance of bonds to finance any capital expenditure which is the result of fire, flood, or other disaster, or which is for a city owned, or operated, utility or other public service enterprise, or which is to be met in part, in cash, labor, or materials, by any agency of the government of the United States of America, or of this state.