reglab/statecodes huggingface dataset:
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 4 - Public Improvement Bonds. › Division 1 - Bonds for Street and Sidewalk Improvements, Sewer Systems or Other Improvements Generally. › Section 11-81-114 - Maintenance and Disposition of Sinking Fund Account for Bond Issues; Enforcement of Maintenance of Accounts, Payment of Bonds, etc.; Disposition of Assessments Securing Bonds in Certain Cities.

Section 11-81-114
Maintenance and disposition of sinking fund account for bond issues; enforcement of maintenance of accounts, payment of bonds, etc.; disposition of assessments securing bonds in certain cities.
(a) The official charged with the duty of collecting assessments shall keep all sinking funds in some bank or banks paying interest on time deposits to be designated by the governing body of said municipality and shall provide and keep a separate sinking fund account for each bond issue. If said officer shall fail to provide and keep said separate sinking fund account for each such bond issue in said bank or banks or shall divert any of such funds to other uses or shall fail to pay any bond or bonds or the interest thereon properly payable from said funds when available, any taxpayer of the issuing municipality or any holder of bonds of the series affected by such diversion or failure, whether of bonds heretofore issued or to be hereafter issued, shall have the right to apply for a writ of mandamus requiring said official to take such action to any court of competent jurisdiction, and said court shall, on proof, issue and enforce said writ.
(b) Anything in subsection (a) of this section to the contrary notwithstanding, the official charged with the duty of collecting assessments in or for any city having a population of more than 250,000 inhabitants according to the most recent federal census may deposit in a single bank account all collections of assessments securing bonds for the payment of which the general credit or taxing power of such city is also pledged, whether such assessments secure bonds of one issue or series or bonds of several issues or series, but separate accounts shall be kept on the record of such city or the collections and disbursements from the assessments for each issue.
(Acts 1927, No. 478, p. 534; Code 1940, T. 37, §302; Acts 1953, No. 683, p. 936.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 4 - Public Improvement Bonds. › Division 1 - Bonds for Street and Sidewalk Improvements, Sewer Systems or Other Improvements Generally. › Section 11-81-115 - Bond of Officer Charged With Collection of Assessments; Liability of Officer and Members of Governing Body for Diversion, Misappropriation, etc., of Funds.

Section 11-81-115
Bond of officer charged with collection of assessments; liability of officer and members of governing body for diversion, misappropriation, etc., of funds.
(a) The official charged with the duty of collecting assessments shall be required to give bond, including the amount of any official bond which may have been required of him by law, equal to not less than five percent of the total amount in said sinking funds provided for in Section 11-81-114, and said bonds shall be increased and may be diminished from time to time in order to comply with this provision. The cost of said increased bond shall be paid by the municipality. Said official shall be liable on his official bond to any holder of the bonds authorized to be issued under this division for any loss or injury to such holder caused by the diversion by said officer of any fund or part thereof to the payment of any bonds or coupons or indebtedness of the municipality other than the bonds and interest coupons entitled and indebtedness authorized in this division to be paid out of said fund or by the use or misappropriation by said officer of any part of the funds out of which said bonds required and contemplated in this division to be paid for any other purpose than provided for in this division or for the benefit of the municipality or others.
(b) All members of the governing body or bodies of the municipality who shall, by their vote or in any other manner, cause, aid or encourage any such diversion, use or misappropriation of the funds out of which the bondholders are entitled to be paid for any other purposes than that authorized and required in this division, whereby loss or injury to the bondholders or any of them is caused, shall be jointly and severally liable to such bondholders injured to the extent of such loss or injury.
(c) Any failure by any of the officials designated in subsections (a) and (b) of this section to keep all funds collected from assessments in separate sinking funds in the bank or banks as provided in this division or to retire bonds when due out of such funds when available shall be construed as a diversion or misappropriation and any bondholder of a bond in the series affected may, at any time, institute a civil action against said official or officials in any court of competent jurisdiction for the satisfaction of such loss and injury.
(Acts 1927, No. 478, p. 534; Code, 1940, T. 37, §303.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 4 - Public Improvement Bonds. › Division 1 - Bonds for Street and Sidewalk Improvements, Sewer Systems or Other Improvements Generally. › Section 11-81-116 - Redemption of Bonds.

Section 11-81-116
Redemption of bonds.
At any time when the amount of any particular fund shall, with its accumulations, equal the amount of any one of the outstanding bonds and accrued interest entitled to payment out of such fund, the governing body of such municipality shall have authority to redeem any and all such bonds that may be presented for redemption at such times thereafter as the holders thereof may desire to present the same for redemption.
(Acts 1927, No. 478, p. 534; Code 1940, T. 37, §304.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 4 - Public Improvement Bonds. › Division 1 - Bonds for Street and Sidewalk Improvements, Sewer Systems or Other Improvements Generally. › Section 11-81-117 - Refunding of Excess Assessments - Authority and Procedure Generally.

Section 11-81-117
Refunding of excess assessments - Authority and procedure generally.
In the event the amount collected from the assessment under any improvement ordinance shall exceed the total cost and expense of the improvement, there shall be refunded to each of the parties affected by said assessment a proportionate amount of the excess upon demand made therefor by said parties within 12 months after maturity or payment of the bonds authorized by this division.
(Acts 1927, No. 478, p. 534; Code 1940, T. 37, §305.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 4 - Public Improvement Bonds. › Division 1 - Bonds for Street and Sidewalk Improvements, Sewer Systems or Other Improvements Generally. › Section 11-81-118 - Refunding of Excess Assessments - Limitation Period for Presentation of Claims; Disposition of Amounts Not Refunded.

Section 11-81-118
Refunding of excess assessments - Limitation period for presentation of claims; disposition of amounts not refunded.
If such claims are not presented within 12 months from the date of the maturity or payment of the bonds, they shall be forever barred, and such amount shall be converted to the general revenue fund of the municipality.
(Acts 1927, No. 478, p. 534; Code 1940, T. 37, §306.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 4 - Public Improvement Bonds. › Division 1 - Bonds for Street and Sidewalk Improvements, Sewer Systems or Other Improvements Generally. › Section 11-81-119 - Settlement, Adjustment or Refunding of Bonds.

Section 11-81-119
Settlement, adjustment or refunding of bonds.
The governing body of any municipality shall have the power to settle, adjust and refund any bonds of such city heretofore or hereafter issued to provide the cost of street, sidewalk or sewer improvements whereof the cost in whole or in part was assessed against the property abutting said improvements, whether such bonds have already become due and payable or are about to become due and payable or are callable according to their terms, and the said governing body deems it to the best interest of the city to call said bonds and raise funds for the payment thereof by the sale of bonds as authorized in this division; provided, however, that all sums derived from the payment of assessments and being in the hands of the city at the time of such refunding shall be first applied to the payment of the outstanding bonds, and refunding bonds shall be issued only in such amount as shall be necessary to raise the difference between the amount required for the payment of the outstanding bonds and the amount held for the payment thereof.
(Acts 1935, No. 296, p. 719; Code 1940, T. 37, §295.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 4 - Public Improvement Bonds. › Division 1 - Bonds for Street and Sidewalk Improvements, Sewer Systems or Other Improvements Generally. › Section 11-81-120 - Sale or Issuance to Custodian of Special Fund, etc., of Refunding Bonds.

Section 11-81-120
Sale or issuance to custodian of special fund, etc., of refunding bonds.
Where the municipality has used any part of its waterworks fund or other special fund of like character for the purpose of taking up at maturity bonds or coupons representing a portion of the principal of bonds which had heretofore been issued for public improvements and which had fallen due, the provisions of Section 11-81-119 shall be construed to permit either the issuance of refunding bonds to the city or town treasurer as custodian of such fund or the sale of such bonds for the purpose of replacing in such fund all moneys of such fund so used.
(Acts 1935, No. 296, p. 719; Code 1940, T. 37, §296.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 4 - Public Improvement Bonds. › Division 1 - Bonds for Street and Sidewalk Improvements, Sewer Systems or Other Improvements Generally. › Section 11-81-121 - Consolidation of Separate Outstanding Issues for Issuance of Refunding Bonds.

Section 11-81-121
Consolidation of separate outstanding issues for issuance of refunding bonds.
In exercising the powers conferred by Sections 11-81-119 and 11-81-120, it shall not be necessary to make a separate issue of refunding bonds with respect to each outstanding issue, but two or more of such outstanding issues or portions thereof may be grouped together in a single refunding issue, in which event all assessments thereafter collected with respect to any of the improvements financed by the separate issues or the proper proportionate part thereof shall be applicable to the payment of such refunding bonds.
(Acts 1935, No. 296, p. 719; Code 1940, T. 37, §297.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 4 - Public Improvement Bonds. › Division 1 - Bonds for Street and Sidewalk Improvements, Sewer Systems or Other Improvements Generally. › Section 11-81-122 - Maintenance and Disposition of Sinking Fund Accounts for Refunding Bond Issues.

Section 11-81-122
Maintenance and disposition of sinking fund accounts for refunding bond issues.
A separate sinking fund account shall be provided and kept for each refunding bond issue authorized under the provisions of Sections 11-81-119 through 11-81-121 to which shall be credited all collections made on assessments levied with respect to the improvements financed by the original issues of bonds or the proper proportionate part thereof, and such sinking fund shall be used only for the purpose of paying interest and principal on such bonds in that particular group or series as they mature.
(Acts 1935, No. 296, p. 719; Code 1940, T. 37, §298.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 4 - Public Improvement Bonds. › Division 1 - Bonds for Street and Sidewalk Improvements, Sewer Systems or Other Improvements Generally. › Section 11-81-123 - Liability, etc., Upon Bonds, etc., When Municipalities Consolidated.

Section 11-81-123
Liability, etc., upon bonds, etc., when municipalities consolidated.
When any two or more municipalities are consolidated by special act or under the general law, all assessment bonds upon property for improvements or obligations issued by such municipalities shall be the primary obligation of the municipality which continues its existence, which municipality may make all assessments and do any and all acts necessary to complete the improvements or contracts made by the municipality absorbed and shall issue its bonds for said improvements when completed as was authorized by the municipality absorbed, and such municipality shall assume and be subject to all liabilities and rights of action of such absorbed municipality.
(Acts 1927, No. 478, p. 534; Code 1940, T. 37, §307.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 4 - Public Improvement Bonds. › Division 2 - Bonds for Certain Revenue-Producing Undertakings. › Section 11-81-140 - Definitions.

Section 11-81-140
Definitions.
When used in this division, the following words and phrases shall have the following meanings, respectively, unless the context clearly indicates otherwise:
(1) UNDERTAKING. Such term shall include all of the following revenue-producing undertakings or any combination of two or more of such undertakings, whether now existing or hereafter acquired or constructed:
a. Causeways, tunnels, viaducts, bridges and other crossings, highways, parks, parkways, airports, docks, piers, wharves, seaport or river terminals, hospitals, public markets, tennis courts, swimming pools, golf courses, stadiums, armories, auditoriums and other public buildings of all kinds, incinerator plants and systems in connection with the generation, production, transmission and distribution of electric energy for lighting, heating and power for public and private uses, together with all parts of any such undertaking and all appurtenances thereto, including lands, easements, rights-of-way, contract rights, franchises, approaches, connections, dams and reservoirs.
b. Cold storage plants, cooling plants, sterilization plants, warehouses, granaries and any other plants, works, machinery or equipment useful for the preservation or preparation of agricultural products for market or use and for the conversion of agricultural products into usable and marketable condition and for the conversion of the same into usable and marketable products.
(2) MUNICIPALITY. Such term shall include any incorporated city or town in the state.
(3) GOVERNING BODY. The board or body in which the general legislative powers of a municipality or county are vested; provided, that this division shall not authorize any county, city or town to construct an undertaking provided for in paragraph (1) a of this section in any city or town or in any portion of a county which is then adequately served by a like undertaking or undertaking performing the proposed service; provided further, that nothing contained in this division shall authorize the construction or operation of an undertaking for the purpose of manufacturing ice for sale at retail or for retail to the public.
(Acts 1935, No. 154, p. 195; Code 1940, T. 37, §341.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 4 - Public Improvement Bonds. › Division 2 - Bonds for Certain Revenue-Producing Undertakings. › Section 11-81-142 - Authorization of Acquisition, Construction, etc., of Undertaking Taking and Issuance of Bonds in Anticipation of Revenues.

Section 11-81-142
Authorization of acquisition, construction, etc., of undertaking taking and issuance of bonds in anticipation of revenues.
The acquisition, construction, reconstruction, improvement, betterment or extension of any undertaking may be authorized under this division; and, in anticipation of the revenues to be derived from such undertaking, bonds may be authorized to be issued under this division to provide funds for such purpose or purposes by resolution or resolutions of the governing body, which may be adopted at a regular or special meeting and at the same meeting at which they are introduced by a majority of the members of the governing body present at such meetings if a quorum is present.
(Acts 1935, No. 154, p. 195; Code 1940, T. 37, §343.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 4 - Public Improvement Bonds. › Division 2 - Bonds for Certain Revenue-Producing Undertakings. › Section 11-81-143 - Covenants in Bond Authorization Resolutions; Enforcement of Provisions of Division and Bond Resolutions.

Section 11-81-143
Covenants in bond authorization resolutions; enforcement of provisions of division and bond resolutions.
(a) Any resolution or resolutions authorizing the issuance of revenue anticipation bonds under this division may contain covenants as to the purpose or purposes to which the proceeds of sale of said bonds may be applied and to the use and disposition thereof, the use and disposition of the revenue of the undertaking in anticipation of which said bonds are to be issued, including the creation and maintenance of reserves, the issuance of other or additional bonds payable from the revenue of said undertaking to pay from the general funds of the municipality or county to the account or accounts of the undertaking the reasonable value for furnishing the municipality or county or any of its departments with the services, facilities and commodities of said undertaking, the operation and maintenance of such undertaking, the insurance to be carried thereon and the use and disposition of insurance moneys, books of account and the inspection and audit thereof and the terms and conditions upon which the holders of the revenue anticipation bonds authorized to be issued under this division by said resolution or resolutions or any proportion of them or any trustee therefor shall be entitled to the appointment of a receiver, which receiver may enter and take possession of such undertaking, operate and maintain the same, prescribe rates, fees, tolls or charges and collect, receive and apply all revenue thereafter arising therefrom in the same manner as the municipality or county itself might do.
(b) The provisions of this division and of any such resolution or resolutions shall be a contract with every holder of said bonds, and the duties of the municipality or county and the governing body and the officers of the municipality or county under this division and under any such resolution or resolutions shall be enforceable by any bondholder by mandamus or other appropriate civil action or proceeding. The circuit court shall have jurisdiction of any civil action or proceeding by any bondholder or bondholders or trustee therefor.
(Acts 1935, No. 154, p. 195; Code 1940, T. 37, §345.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 4 - Public Improvement Bonds. › Division 2 - Bonds for Certain Revenue-Producing Undertakings. › Section 11-81-145 - Evidence of Validity of Bonds.

Section 11-81-145
Evidence of validity of bonds.
Any resolution or resolutions authorizing said bonds may provide that the bonds shall contain a recital that they are issued pursuant to this division, which recital shall be conclusive evidence of their validity and of the regularity of their issuance.
(Acts 1935, No. 154, p. 195; Code 1940, T. 37, §346.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 4 - Public Improvement Bonds. › Division 2 - Bonds for Certain Revenue-Producing Undertakings. › Section 11-81-146 - Lien of Bonds.

Section 11-81-146
Lien of bonds.
All revenue anticipation bonds of the same series issued under this division shall, subject to prior and superior rights, have a prior and paramount lien on the revenue of the undertaking in anticipation of which said bonds have been issued over and ahead of all bonds payable from said revenue which may be subsequently issued and over and ahead of any claims of obligations against said revenue subsequently incurred. All bonds of the same series shall be equally and ratably secured without priority or preference by reason of number or date of the bonds, of sale, of execution or of delivery by a lien on said revenue in accordance with the provisions of this division, and the resolution or resolutions authorizing said bonds.
(Acts 1935, No. 154, p. 195; Code 1940, T. 37, §347.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 4 - Public Improvement Bonds. › Division 2 - Bonds for Certain Revenue-Producing Undertakings. › Section 11-81-147 - Liability of Municipalities or Counties on Bonds.

Section 11-81-147
Liability of municipalities or counties on bonds.
Revenue anticipation bonds issued under this division shall not be a debt of the municipality or county within the meaning of the Constitution, and the municipality or county shall not be liable thereon nor shall they be payable out of any funds other than the revenue obtained therefrom, anything contained in this division to the contrary notwithstanding, and every bond issued under this division shall contain a recital to that effect.
(Acts 1935, No. 154, p. 195; Code 1940, T. 37, §348.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 4 - Public Improvement Bonds. › Division 2 - Bonds for Certain Revenue-Producing Undertakings. › Section 11-81-148 - Exercise of Municipal or County Taxing Power, etc., for Payment of Bonds.

Section 11-81-148
Exercise of municipal or county taxing power, etc., for payment of bonds.
No holder or holders of any bonds issued under this division shall ever have the right to compel any exercise of the taxing power of the municipality or county or the payment of any funds other than the revenue from such undertaking to pay said bonds or the interest thereon, and every bond issued under this division shall contain a recital to that effect.
(Acts 1935, No. 154, p. 195; Code 1940, T. 37, §349.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 4 - Public Improvement Bonds. › Division 2 - Bonds for Certain Revenue-Producing Undertakings. › Section 11-81-149 - Exemption From Taxation of Undertakings, Bonds, Etc.

Section 11-81-149
Exemption from taxation of undertakings, bonds, etc.
So long as the municipality or county shall own or possess any undertaking the property and revenue of such undertaking shall be exempt from all taxation. Bonds issued under this division and the income therefrom shall be exempt from all taxation.
(Acts 1935, No. 154, p. 195; Code 1940, T. 37, §350.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 4 - Public Improvement Bonds. › Division 2 - Bonds for Certain Revenue-Producing Undertakings. › Section 11-81-150 - Establishment, Collection, etc., of Rates, Fees, Tolls, etc., for Services, Facilities, etc., of Undertakings.

Section 11-81-150
Establishment, collection, etc., of rates, fees, tolls, etc., for services, facilities, etc., of undertakings.
The governing body shall prescribe and collect reasonable rates, fees, tolls, rents or charges for the services, facilities and commodities of any undertaking for the acquisition, construction, reconstruction, improvement, betterment or extension of which revenue anticipation bonds are issued under this division, and shall revise such rates, fees, tolls, rents or charges from time to time whenever necessary so that such undertakings shall be and always remain self-supporting. The rates, fees, tolls, rents or charges prescribed shall be such as will produce revenue at least sufficient to pay when due all bonds and interest thereon for the payment of which such revenue is or shall have been pledged, charged or otherwise encumbered, including reserves therefor, and to provide for all expenses of operation and maintenance of such undertaking, including reserves therefor.
(Acts 1935, No. 154, p. 195; Code 1940, T. 37, §351.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 5 - Revenue Bonds for Waterworks, Gas, Sewer or Electric Systems. › Section 11-81-160 - Definitions.

Section 11-81-160
Definitions.
When used in this article, the following words and phrases shall have the following meanings, respectively, unless the context clearly indicates otherwise:
(1) BORROWER. A county or incorporated municipality, as the case may be, exercising the powers conferred by this article.
(2) GOVERNING BODY. In the case of a county, the county commission exercising the legislative functions of the county and, in the case of a municipality, the board of commissioners, the mayor and council or other similar body exercising the legislative functions of the municipality.
(3) WATERWORKS SYSTEM. Facilities for the gathering, collecting, impounding, treatment, transmission and distribution, or any of them, of water for domestic use or for industrial use or both, together with all appurtenances to any such facilities.
(4) SANITARY SEWER SYSTEM. Facilities for the collection, transmission, treatment and disposal of sewage, together with all appurtenances to any such facilities.
(5) GAS SYSTEM. Facilities for the manufacture, conditioning, transmission and distribution, or any thereof, of manufactured or natural gas, together with all appurtenances to such facilities.
(6) ELECTRIC SYSTEM. Facilities for the generation, manufacture and distribution, or any thereof, of electricity, together with all appurtenances to such facilities.
(7) COMBINED SYSTEM. A consolidated system resulting from the combination of any two or more of the following: a waterworks system, a sanitary system, a gas system and an electric system.
(8) SYSTEM and PROJECT. A waterworks system, a sanitary system, a gas system, an electric system or a combined system.
(9) INDUSTRIAL. When used with reference to a waterworks system, a waterworks system designed to supply or distribute water primarily for use other than human consumption.
(10) DOMESTIC. When used with reference to a waterworks system, a waterworks system designed to supply or distribute water primarily for human consumption.
(11) DOMESTIC WATER DISTRIBUTION SYSTEM. A waterworks system designed to distribute water primarily for human consumption.
(12) BONDS and REVENUE BONDS. Bonds issued under this article.
(13) AUTHORIZING PROCEEDINGS, AUTHORIZING ORDINANCE and similar phrases. An ordinance or resolution adopted by the governing body of a borrower whereunder bonds are provided to be issued pursuant to the provisions of this article.
(Acts 1933, Ex. Sess., No. 102, p. 88; Code 1940, T. 37, §309; Acts 1955, No. 494, p. 1127, §2.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 5 - Revenue Bonds for Waterworks, Gas, Sewer or Electric Systems. › Section 11-81-161 - Acquisition, Extension, Repair, Consolidation, etc., of Waterworks, Sewer, Gas or Electric Systems by Counties or Municipalities Authorized.

Section 11-81-161
Acquisition, extension, repair, consolidation, etc., of waterworks, sewer, gas or electric systems by counties or municipalities authorized.
(a) Any county or incorporated municipality in the State of Alabama is authorized to acquire by any lawful means any one or more of the following systems: a waterworks system, a sanitary sewer system, a gas system and an electric system and, in furtherance of the acquisition of any such system, to acquire any necessary part thereof within or without or partially within and partially without the limits of any such county or the corporate limits of any such municipality, as the case may be; provided, that no municipality in this state shall have, under the authority conferred by this article, the right to construct a gas system, a domestic water distribution system or electric system or portion thereof if there is at the time of such proposed construction a gas system, domestic water distribution system or electric system, respectively, or any portion thereof, then operated as a public utility within the corporate limits of such municipality by any private or public utility corporation, individual, partnership or association; provided further, that no county in this state shall have under the authority conferred by this article the right to construct a gas system, domestic water distribution system, electric system or portion thereof in that portion of said county where there may then be located any gas system, domestic water distribution system or electric system, respectively, or any portion thereof, then being operated as a public utility by any private or public utility corporation, individual, partnership or association.
(b) Any county or incorporated municipality in the state that may now or hereafter own and operate a waterworks system, sanitary sewer system, gas system or electric system is authorized to improve, enlarge, extend and repair such system and to furnish the services, commodities and facilities of such system to domestic or industrial users or both within or without the limits of such county or municipality, as the case may be.
(c) Any such county or incorporated municipality may, if it so elects, at any time and from time to time consolidate any two or more of its systems, including any waterworks system, sanitary sewer system, gas system or electric system into one combined and consolidated system and provide for the operation, maintenance and repair of such combined system and the keeping of books and records with respect thereto as one unit.
(Acts 1933, Ex. Sess., No. 102, p. 88; Acts 1935, No. 46, p. 108; Acts 1936-37, Ex. Sess., No. 203, p. 236; Code 1940, T. 37, §308; Acts 1955, No. 494, p. 1127, §1.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 5 - Revenue Bonds for Waterworks, Gas, Sewer or Electric Systems. › Section 11-81-162 - Estimate of Cost of Acquisition, Extension, Repair, Consolidation, Etc.

Section 11-81-162
Estimate of cost of acquisition, extension, repair, consolidation, etc.
Whenever the governing body of any borrower shall determine to acquire, improve, enlarge, extend or repair a system or systems under the provisions of this article, it shall first cause an estimate to be made of the cost thereof, and the fact that such estimate has been made and the amount thereof shall appear in the authorizing proceedings providing for the issuance of the bonds proposed to be issued to finance such acquisition, improvement, enlargement, extension or repair.
(Acts 1933, Ex. Sess., No. 102, p. 88; Acts 1936-37, Ex. Sess., No. 203, p. 236; Code 1940, T. 37, §310; Acts 1955, No. 494, p. 1127, §3.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 5 - Revenue Bonds for Waterworks, Gas, Sewer or Electric Systems. › Section 11-81-163 - Adoption, Amendment, Recordation, etc., of Ordinances or Resolutions for Issuance of Bonds, Segregation of Revenues, Etc.

Section 11-81-163
Adoption, amendment, recordation, etc., of ordinances or resolutions for issuance of bonds, segregation of revenues, etc.
For the purpose of this article, any borrower is authorized to adopt ordinances providing for the issuance of revenue bonds as provided in this article and any and all other appropriate ordinances and resolutions deemed necessary to effectuate the full intent and purpose of this article, including the segregation of revenues derived from the operation of any project named in Section 11-81-161, the determination, fixation and revision from time to time of rates to be charged for services and any and all other necessary ordinances and resolutions to protect the properties, to provide for the adequate operation thereof and to insure the security of the bonds; provided, that in the case of counties, the style of any ordinance or resolution adopted under this article shall be the same as is provided by the laws of the state in the case of municipalities, and the manner of adoption thereof shall be as is provided in the general laws of the state for municipalities of over 6,000 inhabitants. The amendment of such ordinances and resolutions of counties shall be as is provided by the general laws of the state for amendment of ordinances of municipalities. Such ordinances and resolutions of counties shall be recorded in the minutes of the governing body thereof as soon as practicable after their passage and shall be authenticated by the signature of the clerk of such governing body. Any such ordinances or resolutions of counties may be published in a newspaper of general circulation in such county.
(Acts 1933, Ex. Sess., No. 102, p. 88; Code 1940, T. 37, §311.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 5 - Revenue Bonds for Waterworks, Gas, Sewer or Electric Systems. › Section 11-81-165 - Borrowing in Anticipation of Sale and Issuance of Bonds Authorized; Procedure Therefor.

Section 11-81-165
Borrowing in anticipation of sale and issuance of bonds authorized; procedure therefor.
(a) Any municipality or county in the state may at any time and from time to time, in anticipation of the sale and issuance of revenue bonds under the provisions of this article, as amended, borrow money for temporary use for any purpose or purposes for which revenue bonds are authorized to be issued under this article and in evidence of such borrowing may issue interest-bearing notes.
(b) Each such note shall be a limited or special obligation of the issuing municipality or county, payable as to both principal and interest solely from the same revenues out of which such revenue bonds are proposed to be issued or from the proceeds from the sale of such revenue bonds or from both said revenues and said bond proceeds, shall be made payable not later than 24 months after its date, shall be signed as the governing body of said municipality or county may prescribe, may be sold at public or private sale and may be renewed from time to time; provided, that no such renewal shall be made which shall extend the final date for payment of such note to more than three years from the date of the original borrowing.
(c) When any such municipality or county shall issue the revenue bonds in anticipation of which any note or notes were issued under this section, such municipality or county shall retire, out of the proceeds derived from the sale of the said revenue bonds, the said note or notes and, to the extent that such proceeds shall be sufficient therefor, the unpaid interest accrued thereon; provided, that any such municipality or county may, when any such note or notes are held by the United States of America or any agency or instrumentality thereof, without regard to or compliance with the provisions of Section 11-81-11, as amended, issue and deliver such revenue bonds (or a part thereof) in exchange for an equal principal amount of such note or notes and shall, prior to or simultaneously with such issuance and delivery, pay the unpaid interest accrued on such note or notes, which shall thereupon be cancelled and retired.
(d) In issuing any such temporary notes, no municipality or county shall be subject to any requirement, condition or limitation contained in any other law.
(Acts 1963, 2nd Ex. Sess., No. 95, p. 271; Acts 1971, No. 1947, p. 3145.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 5 - Revenue Bonds for Waterworks, Gas, Sewer or Electric Systems. › Section 11-81-167 - Revenue Bonds - Execution and Delivery.

Section 11-81-167
Revenue bonds - Execution and delivery.
In case any of the officers whose signature or countersignature appears on the bonds or coupons shall cease to be such officers before delivery of such bonds, such signature or countersignature shall nevertheless be valid and sufficient for all purposes the same as if they had remained in office until such delivery.
(Acts 1933, Ex. Sess., No. 102, p. 88; Code 1940, T. 37, §322.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 5 - Revenue Bonds for Waterworks, Gas, Sewer or Electric Systems. › Section 11-81-168 - Revenue Bonds - Negotiability.

Section 11-81-168
Revenue bonds - Negotiability.
Such bonds shall have all of the qualities and incidents of negotiable instruments under the law merchant and the applicable provisions of Title 7 and Title 8; except, that they shall not be construed as containing an unconditional promise to pay.
(Acts 1933, Ex. Sess., No. 102, p. 88; Acts 1936-37, Ex. Sess., No. 203, p. 236; Code 1940, T. 37, §319.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 5 - Revenue Bonds for Waterworks, Gas, Sewer or Electric Systems. › Section 11-81-169 - Revenue Bonds - Disposition of Proceeds From Sale - Generally.

Section 11-81-169
Revenue bonds - Disposition of proceeds from sale - Generally.
The governing body, where practicable, shall require that the proceeds of the sale of bonds issued under the provisions of this article be deposited in a special account or accounts in a bank or banks which are members of the federal reserve system and shall require, insofar as practicable, that each such deposit be secured by United States government securities having an aggregate market value at least equal to the sum at the time on deposit, or, in any event, the proceeds shall be deposited in some bank or other depository either within or without the state which will secure such deposit satisfactorily to said governing body.
(Acts 1933, Ex. Sess., No. 102, p. 88; Code 1940, T. 37, §320.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 5 - Revenue Bonds for Waterworks, Gas, Sewer or Electric Systems. › Section 11-81-170 - Revenue Bonds - Disposition of Proceeds From Sale - Proceeds to Be Used Only for Purposes for Which Bonds Authorized; Excess Proceeds.

Section 11-81-170
Revenue bonds - Disposition of proceeds from sale - Proceeds to be used only for purposes for which bonds authorized; excess proceeds.
All moneys derived from the sale of any revenue bonds issued under the provision of this article shall be used solely for the purpose or purposes for which the same are authorized, including any engineering, legal and other expenses incident thereto, and, in the case of bonds issued in whole or in part for construction, interest on such bonds or such part prior to and during construction and for one year after completion of construction and, in the case of bonds issued for the purpose of refunding outstanding revenue bonds, any premium which it may be necessary to pay to redeem or retire such bonds. If the proceeds of the bonds of any issue shall exceed the amount required for the purpose or purposes for which the same are issued, the surplus shall be paid into the fund provided in Section 11-81-181 for the payment of the principal of and interest on such bonds.
(Acts 1933, Ex. Sess., No. 102, p. 88; Acts 1936-37, Ex. Sess., No. 203, p. 236; Code 1940, T. 37, §321.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 5 - Revenue Bonds for Waterworks, Gas, Sewer or Electric Systems. › Section 11-81-171 - Revenue Bonds - Redemption.

Section 11-81-171
Revenue bonds - Redemption.
The governing body of the borrower authorizing bonds under the provisions of this article may make provision for any of such bonds to be called for payment on any interest payment date before maturity, with or without a premium, upon such terms and conditions as the governing body may prescribe; provided, however, that the amount of premium on any bonds shall not cause the yield to be more than six percent per annum from the date of the sale of such bonds to the date of their redemption.
(Acts 1933, Ex. Sess., No. 102, p. 88; Acts 1936, Ex. Sess., No. 118, p. 78; Code 1940, T. 37, §336.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 5 - Revenue Bonds for Waterworks, Gas, Sewer or Electric Systems. › Section 11-81-172 - Revenue Bonds - Exemption From Taxation.

Section 11-81-172
Revenue bonds - Exemption from taxation.
The bonds and interest coupons issued under this article are hereby exempted from any and all state, county, municipal and other taxation whatsoever under the laws of the State of Alabama, and it shall be plainly stated on the face of each such bond as follows: "The principal of and interest on this bond are exempted from any and all state, county and municipal and other taxation whatsoever under the laws of the State of Alabama."
(Acts 1933, Ex. Sess., No. 102, p. 88; Code 1940, T. 37, §318.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 5 - Revenue Bonds for Waterworks, Gas, Sewer or Electric Systems. › Section 11-81-172.1 - Revenue Bonds - Issuance of Bonds for Refunding of Principal of General or Limited Obligation Warrants, Etc.

Section 11-81-172.1
Revenue bonds - Issuance of bonds for refunding of principal of general or limited obligation warrants, etc.
Any county or incorporated municipality in the State of Alabama may issue revenue bonds under the provisions of this article not only for the purposes specified in Section 11-81-166, but also for the purpose of refunding the principal of any outstanding general or limited obligation warrants of any such county or incorporated municipality that were issued (directly or indirectly) for the purpose of financing the acquisition, improvement, enlargement, extension or repair of any waterworks system, gas system, electric system or sanitary sewer system or that were issued to refund any general or limited obligation warrant or warrants initially issued by such county or incorporated municipality (directly or indirectly) for the purpose of financing the acquisition, improvement, enlargement, extension or repair of any waterworks system, gas system, electric system or sanitary sewer system, whether or not such principal shall have matured at the time of such refunding, and for the combined purpose of refunding the principal of any such general or limited obligation warrants and any other purpose or purposes specified in said Section 11-81-166.
(Acts 1977, No. 299, p. 400.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81 - Municipal and County Bonds. › Article 5 - Revenue Bonds for Waterworks, Gas, Sewer or Electric Systems. › Section 11-81-173 - Issuance of Additional Bonds; Payment of Same.

Section 11-81-173
Issuance of additional bonds; payment of same.
(a) Any borrower acquiring, improving, enlarging, extending or repairing any such system or combined system pursuant to the provisions of this article, may, in the event that the proceeds of any issue of revenue bonds by error of calculation or otherwise shall be less than the amount required for the purpose or purposes for which the same shall be authorized, issue additional bonds under the provisions of this article to provide the amount of such deficit or, in the event that later extensions and permanent improvements to such system or combined system appear to be desirable, issue from time to time additional bonds under the provisions of this article to provide funds for such purposes.
(b) If such additional bonds are issued for the purpose of providing funds necessary to supply any such deficit, they shall, unless otherwise provided in the ordinance authorizing the original issue of bonds or in any trust indenture thereby authorized, be deemed to be of the same issue and to be entitled to payment from the same fund without preference or priority of the bonds first issued. If, however, such bonds are issued to provide funds for the acquisition of other extensions or permanent improvements, such bonds shall be deemed to be of the same issue and shall be entitled to payment from the same fund without preference or priority of the bonds first issued only in the event that it shall be specifically so provided in the ordinance authorizing the original issue of bonds or in any trust indenture thereby authorized.
(Acts 1933, Ex. Sess., No. 102, p. 88; Acts 1936-37, Ex. Sess., No. 203, p. 236; Code 1940, T. 37, §324.)