Alabama § 45-57A-63.139 Borrowing in Anticipation of Other Revenues

Alabama Statutes

§ 45-57A-63.139 — Borrowing in Anticipation of Other Revenues

Alabama § 45-57A-63.139

JurisdictionAlabama

Title 45Local Laws

Ch. 57ARussell County Municipalities

Art. 6Phenix City

Part 4Government

Subpart 6Department of Finance

This text of Alabama § 45-57A-63.139 (Borrowing in Anticipation of Other Revenues) 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-63.139 (2026).

Text

In any budget year, in anticipation of the collection or receipt of other revenues of that budget year, the council may by resolution authorize the borrowing of money by the issuance of negotiable notes of the city, each of which shall be designated ‘‘special revenue note for the year 2___’’ (stating the budget year). The notes may be renewed from time to time; but all such notes, together with the renewals thereof, shall mature and be paid not later than the end of the fiscal year after the budget year in which the original notes shall have been issued.

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In any budget year, in anticipation of the collection or receipt of other revenues of that budget year, the council may by resolution authorize the borrowing of money by the issuance of negotiable notes of the city, each of which shall be designated ‘‘special revenue note for the year 2___’’ (stating the budget year). The notes may be renewed from time to time; but all such notes, together with the renewals thereof, shall mature and be paid not later than the end of the fiscal year after the budget year in which the original notes shall have been issued.