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 8 - Property Insurance and Energy Reduction Act of Alabama. › Section 11-81-246 - Assessment Lien; Enforcement.

Section 11-81-246
Assessment lien; enforcement.
(a) An assessment under this article and any interest or penalties on the assessment:
(1) Is a lien against the real property on which the assessment is imposed from the date on which the notice of contractual assessment is recorded.
(2) Subject to the requirement in Section 11-81-245(a)(1) to obtain and record in the proper recording office an executed consent and subordination agreement from existing mortgagees and other lienholders, has the same priority status as a lien for any other ad valorem or non-ad valorem tax.
(3) Is a lien that runs with the real property, and the portion of the assessment under the assessment contract that has not yet become due is not eliminated by foreclosure of a property tax lien.
(b) The assessment lien may be enforced by the local government in the same manner that an ad valorem or non-ad valorem tax lien against real property may be enforced by the local government with all redemption rights provided by Section 40-10-1 et seq. or other applicable law to remain in effect.
(c) Delinquent installments of the assessments incur interest and penalties in the same manner as delinquent ad valorem taxes.
(d) A local government may recover costs and expenses, including attorney's fees, in a suit to collect a delinquent installment of an assessment.
(e) Provided, however, that in any action to enforce an assessment lien, the person or entity enforcing the assessment lien must serve the holders of all mortgages and other liens with notice about the enforcement action at least 60 days before any hearing or other action is taken with respect to the enforcement action. Service upon a domestic or foreign corporation or other entity shall be by serving the registered agent of the entity if a registered agent has been appointed; otherwise service shall be in accordance with Rule 4 of the Alabama Rules of Civil Procedure.
(Act 2015-494, §7.)
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 8 - Property Insurance and Energy Reduction Act of Alabama. › Section 11-81-247 - Loss Reserve Fund.

Section 11-81-247
Loss reserve fund.
A local government, combination of local governments, the State or designee, may establish a loss reserve fund. The loss reserve fund may be established for the purposes of paying delinquent assessments caused by the failure of a real property owner to fulfill their obligations under an assessment.
(Act 2015-494, §8.)
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 8 - Property Insurance and Energy Reduction Act of Alabama. › Section 11-81-248 - Regulatory Jurisidiction.

Section 11-81-248
Regulatory jurisidiction.
The Governor may appoint an existing state agency to exercise regulatory jurisdiction over programs and activities under this article. The state agency shall have the authority to adopt reasonable rules, interpretations, and guidances, consistent with the laws of this state, as may be necessary to carry out this article over which the agency has jurisdiction, including the development and administration of programs created under this article. The state agency shall provide initial rules or guidance by September 1, 2016, or later if additional time is needed by the agency, and, in any event, before any local government can establish a program. The state agency also is authorized to develop a statewide program for local government participation at any time. In developing any program guidance, the state agency shall seek input from industry stakeholders such as banks, real estate, insurance, contractors, and other relevant interests.
(Act 2015-494, §9.)
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 8 - Property Insurance and Energy Reduction Act of Alabama. › Section 11-81-249 - Imposition of Assessment.

Section 11-81-249
Imposition of assessment.
The imposition of an assessment pursuant to this article is to be made solely at the request of the owner of record of real property within a designated region. A local government shall not compel a person who owns real property in a designated region to enter into a contract to repay the financing of any cost or assessment through assessments under this article.
(Act 2015-494, §10.)
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 8 - Property Insurance and Energy Reduction Act of Alabama. › Section 11-81-250 - Construction of Article.

Section 11-81-250
Construction of article.
Nothing in this article, nor any program adopted in accordance with the procedures established hereunder, shall alter, amend, or affect the rights, duties, and obligations of any electric supplier or the regulation or governance of any such entity.
(Act 2015-494, §11.)
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 9 › Section 11-81-260 - Definitions.

Section 11-81-260
Definitions.
When used in this article, the following terms shall have the following meanings:
(1) ARTICLES. The articles of incorporation or articles of reincorporation of an authority.
(2) AUTHORITY. A public corporation incorporated or reincorporated pursuant to the provisions of this article.
(3) BOARD OF DIRECTORS. The board of directors of an authority.
(4) BOND or BONDS. A bond or bonds issued under this article.
(5) COUNTY OF INCORPORATION. The county in which an authority has been or is proposed to be incorporated or reincorporated.
(6) DIRECTORS. The members of the board of directors.
(7) INCORPORATORS. The natural persons filing a written application for the incorporation or reincorporation of an authority pursuant to this article.
(8) MUNICIPALITY. Any municipal corporation wholly or partially within the county of incorporation.
(9) PARTICIPATING MUNICIPALITY. Any municipality named in the articles that elects to participate in the incorporation or reincorporation of the authority.
(10) PERSON. Unless limited to a natural person by the context in which it is used, any person, including, without limitation, a private firm, a private association, a corporation, and a public person.
(11) PROBATE JUDGE. The judge of probate of the county of incorporation of an authority.
(12) PROJECT. Any land and any buildings or other improvements thereon, and all real, personal, and mixed properties deemed by an authority to be necessary or appropriate in connection therewith, whether or not now in existence, which shall be suitable for road improvement purposes. The determination of an authority that a proposed use is within this definition shall be conclusive.
(13) PUBLIC PERSON. The state and any county, municipal corporation, agency, subdivision thereof, instrumentality thereof, or similar person.
(Act 2021-408, §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 9 › Section 11-81-261 - Legislative Findings of Fact and Declaration of Intent; Construction of Article.

Section 11-81-261
THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2021 REGULAR SESSION, EFFECTIVE JUNE 1, 2021. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.
Legislative findings of fact and declaration of intent; construction of article.
The Legislature hereby makes the following findings of fact and declares its intent to be as follows:
(1) The Legislature acknowledges the key role of public corporations in the state in promoting public interest through acquiring, enlarging, improving, expanding, owning, operating, leasing, and disposing of road improvement related properties. It has come to the attention of the Legislature that questions have been raised as to the status of certain road improvement commissions located in certain counties. It is the intent of the Legislature to promote the public health and general welfare by exercising its police power to authorize the formation of independent public corporations created jointly by counties and municipalities, and the reincorporation of existing road improvement commissions located in counties containing a Class 4 municipality, as defined by Section 11-40-12, incorporated under Chapter 44B of Title 11, having as their general purposes the promotion of road improvement purposes, facilities, and activities and having the power to issue bonds, among certain other powers.
(2) This article shall be liberally construed in accordance with the findings of fact and declaration of intent in this section.
(Act 2021-408, §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 9 › Section 11-81-262 - Authorization and Procedure for Incorporation Generally.

Section 11-81-262
Authorization and procedure for incorporation generally.
Any number of natural persons, not less than three, residing in the county of incorporation may incorporate an authority as provided in this article. The incorporators shall file a written application in accordance with Section 11-81-263.
(Act 2021-408, §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 9 › Section 11-81-263 - Filing of Application for Incorporation With Probate Judge; Contents Thereof; Recordation of Application by Probate Judge; Approval or Disapproval by Governing Body of County of Incorporation and Each Participating Municipality.

Section 11-81-263
Filing of application for incorporation with probate judge; contents thereof; recordation of application by probate judge; approval or disapproval by governing body of county of incorporation and each participating municipality.
(a) The written application of the incorporators shall be filed with the probate judge, which application shall:
(1) Contain a statement that the incorporators propose to incorporate an authority pursuant to this article.
(2) State that each of the incorporators is a resident of the county of incorporation.
(3) Request that the governing body of the county of incorporation and each participating municipality adopt a resolution declaring that it is expedient that the proposed authority be formed, approving the written application, and authorizing the incorporators to proceed to form the proposed authority by filing for record articles in accordance with this article.
(b) The application shall include the form of articles of the proposed authority.
(c) The governing body of the county of incorporation and of each participating municipality shall review the contents of the application and the accompanying form of articles and shall adopt a resolution to deny the application or to declare that it is expedient that the proposed authority be formed, approving the form of the articles, and authorizing the incorporators to proceed to form the proposed authority by filing for record pursuant to subsection (c) of Section 11-81-264.
(d) It shall not be necessary that a resolution be published in any newspaper or posted or be offered for more than one reading.
(e) No authority may be formed until the application and the resolution have been adopted.
(Act 2021-408, §4.)
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 9 › Section 11-81-264 - Contents, Signing, and Filing of Articles.

Section 11-81-264
Contents, signing, and filing of articles.
(a) The articles of an authority shall state all of the following:
(1) The names of the incorporators and that each is a resident of the county of incorporation.
(2) The name of the authority, which may be a name indicating in a general way the geographic area proposed to be served by the authority and include the words "Road Improvement Authority" (e.g., "The ________________ Road Improvement Authority" or "The Road Improvement Authority of ________________," the blank space to be filled in with a geographically descriptive word or words, but the descriptive word or words shall not preclude the authority from exercising its powers in other geographic areas).
(3) The period of the authority, which may be perpetual.
(4) The location of the principal office of the authority, located within the boundaries of the county of incorporation.
(5) That the authority is organized pursuant to this article.
(6) The prohibitions, limitations, or conditions of the authority.
(7) A minimum of three directors and the duration of their respective terms of office which may not be in excess of six years.
(8)a. The manner of appointing directors. Except as provided in Section 11-81-265, the articles may specify that the directors are to be appointed by any of the following:
1. The governing body of the county of incorporation.
2. The governing bodies of the participating municipalities.
3. The individual members of the governing bodies, based upon districts, precincts, place numbers, or another method.
4. The legislative delegation of the county of incorporation.
5. Any combination of subparagraphs 1. to 4. as the articles prescribe.
b. All persons making appointments to a board of directors of a joint road improvement authority shall coordinate their appointments so that diversity of gender, race, and geographical areas is reflective of the makeup of the county of incorporation.
(9) Any provisions not inconsistent with this article relating to the dissolution of the authority and the vesting of title to its assets and properties upon dissolution.
(10) Any other matters relating to the authority that the incorporators may choose to insert and that are not inconsistent with this article or with the laws of the state.
(b) The articles shall be signed by each of the incorporators.
(c) The authority shall constitute a public corporation under the name set forth in its articles upon the filing of record of the article with the probate judge. The recording of the articles by the probate judge shall be conclusive evidence of the due, legal, and valid incorporation of the authority. The probate judge shall record the articles in an appropriate book in his or her office. There shall be no filing fees or recording taxes due or payable on account of the filing for record of the articles.
(Act 2021-408, §5.)
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 9 › Section 11-81-266 - Further Authorization and Procedure for Reincorporation of Existing Road Improvement Commissions.

Section 11-81-266
Further authorization and procedure for reincorporation of existing road improvement commissions.
A road improvement commission created or attempted to be created prior to June 1, 2021, in a county containing a Class 4 municipality incorporated under Chapter 44B of Title 11, may seek authority to reincorporate pursuant to the procedure established in Section 11-81-265 if a majority of the commission adopts a resolution determining that it would be expedient for the commission to reincorporate and a group of at least four members of the commission files an application in accordance with Section 11-81-265.
(Act 2021-408, §7.)
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 9 › Section 11-81-267 - Recordation of Articles by Judge of Probate; Judge of Probate to Receive No Fees in Connection With Incorporation, Reincorporation, Dissolution, etc., of Authority.

Section 11-81-267
Recordation of articles by judge of probate; judge of probate to receive no fees in connection with incorporation, reincorporation, dissolution, etc., of authority.
(a) The articles shall be filed with the probate judge. The proposed authority shall constitute a de jure corporation upon acceptance of filing. The acceptance of the articles for filing by the probate judge shall be conclusive of the valid incorporation of a proposed authority or reincorporation of a road improvement commission.
(b) There shall be no fees or taxes paid to or collected by the probate judge for any service rendered or work performed in connection with an authority, its incorporation, reincorporation, amendment, dissolution, or records.
(Act 2021-408, §8.)
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 9 › Section 11-81-269 - Members of the Board of Directors; Terms; Meetings; Removal From Office.

Section 11-81-269
Members of the board of directors; terms; meetings; removal from office.
(a) Except as provided in Section 11-81-265, the board of directors shall be composed of the number of directors provided for in the articles, appointed as provided in the articles for the terms designated therein.
(b) All directors shall serve until their successors are appointed or until they cease to be qualified. Vacancies on the board of directors shall be filled as provided for in the articles, but any person appointed to fill a vacancy shall serve only for the unexpired portion of the term. In the event any uncertainty arises as to the terms of office of a director, the governing body or person authorized to appoint a director to the board of directors may clarify the term by adoption of an appropriate resolution or by execution of an appropriate certificate.
(c) A majority of the directors shall constitute a quorum for the transaction of business, but any meeting of the board of directors may be adjourned by a majority of the directors present, or may be adjourned by a single director if the director is the only director present at the meeting. A vacancy in the membership of the board of directors may not impair the right of a quorum to exercise all the powers and perform all the duties of the board. The board shall hold regular meetings at such times as may be provided in the bylaws of the authority and may hold other meetings at any time upon notice as may be required by the bylaws of the authority or if the bylaws make no provision for notice as determined by the chair of the board of directors. The board of directors may hold a special meeting upon call of the chair or by a majority of the directors. Any matter on which the board of directors is authorized to act may be acted upon at any regular, special, or called meeting. At the request of a director, the vote on any question before the board of directors may be taken by yeas and nays and entered upon the record. All resolutions adopted by the board of directors shall constitute actions of the authority.
(d) A director may be impeached and removed from office only in the same manner and on the same grounds provided in Section 175 of the Constitution of Alabama of 1901, and the general laws of the state for impeachment and removal of the officers mentioned in Section 175.
(Act 2021-408, §10.)
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 9 › Section 11-81-270 - Amendment of Articles.

Section 11-81-270
Amendment of articles.
(a) The articles of an authority may be amended in the manner provided in this section. The board of directors shall adopt a resolution proposing an amendment to the articles. The amendment shall be fully set forth in the resolution and may include any matters that might have been included in the original articles.
(b) After the adoption by the board of directors of a resolution proposing an amendment to the articles, the chair and the secretary of the authority shall sign and file with the governing body of the county of incorporation and of each participating municipality a written application in the name and on behalf of the authority, under its seal, requesting the county and each participating municipality to adopt a resolution approving the proposed amendment, and accompanied by a copy of the resolution adopted by the board of directors proposing the amendment to the articles. The county and each participating municipality shall review the application and adopt a resolution either denying the application or approving and authorizing the proposed amendment. A resolution need not be published or posted or offered for more than one reading.
(c) Following the adoption of a resolution approving the proposed amendment by the county commission of the county of incorporation and of each participating municipality, the chair and the secretary of the authority shall sign and file in the office of the probate judge a certificate in the name and on behalf of the authority, under its seal, reciting the adoption of resolutions by the board and by the governing body of the county of incorporation and of each participating municipality and setting forth the proposed amendment. The probate judge shall record the certificate. The amendment shall become effective upon recordation.
(Act 2021-408, §11.)
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 9 › Section 11-81-272 - Issuance and Sale of Bonds.

Section 11-81-272
Issuance and sale of bonds.
An authority may sell at public or private sale and issue bonds as provided in Section 11-81-273 for the purposes authorized in Section 11-81-271.
(Act 2021-408, §13.)
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 9 › Section 11-81-275 - Disposition of Funds; Negotiability of Bonds; Exemption From Taxation; Security; Investment in Bonds.

Section 11-81-275
Disposition of funds; negotiability of bonds; exemption from taxation; security; investment in bonds.
(a) The proceeds from the sale of any bonds shall be applied as provided in the proceedings in which the bonds are authorized to be issued, including, without limitation, the payment of all legal, fiscal, and recording fees and expenses incurred in connection with the authorization, sale, and issuance of the bonds and, if provided in the proceedings authorizing their issuance, interest on the bonds; or, if only a part of any issue of bonds is issued for acquisition purposes, interest on that portion of the bonds of that issue that is issued to pay acquisition costs, for a reasonable period prior to and during the time required for the acquisition, construction, and equipping of road improvement facilities. An authority may provide in the proceedings authorizing the issuance of bonds for the funding of a debt service reserve or a replacement and extension reserve from the proceeds of its bonds.
(b) All contracts made by an authority and all bonds shall be solely and exclusively obligations of an authority and shall not constitute or create an obligation or debt of any other public person except as provided in subsection (c).
(c) A county or municipality may pledge its full faith and credit toward the retirement of any bonds or other evidences of indebtedness issued by an authority under this article.
(d) Bonds shall be construed to be negotiable instruments even if payable solely from only a specified source.
(e) Bonds issued by an authority and the income therefrom shall be exempt from all taxation in the state.
(f) Bonds issued by an authority may be used by the holder thereof as security for any funds belonging to any public person in any instance where security for such deposits may be required by law.
(g) Unless otherwise directed by a court having jurisdiction thereof or the document that is the source of its authority, a trustee, executor, administrator, custodian, guardian, or one acting in any other fiduciary capacity may, in addition to any other investment powers now or hereafter conferred by law and with the exercise of reasonable business prudence, invest trust or fiduciary funds in bonds.
(h) Neither a public hearing nor consent of any other public person may be a prerequisite to the issuance of bonds by an authority.
(i) The bonds shall be legal investments for funds of the Teachers' Retirement System of Alabama, the Employees' Retirement System of Alabama, and the State Insurance Fund.
(j) Public persons may invest in any bond issued by an authority.
(Act 2021-408, §16.)
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 9 › Section 11-81-276 - Exemption From Usury and Interest Laws.

Section 11-81-276
Exemption from usury and interest laws.
An authority shall be exempt from all laws of the state now or hereafter governing usury or prescribing or limiting interest rates, including, without limitation, Chapter 8 of Title 8.
(Act 2021-408, §17.)
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 9 › Section 11-81-277 - Exemptions From Taxation.

Section 11-81-277
Exemptions from taxation.
All properties of an authority, whether real, personal, or mixed, and the income therefrom, all bonds and other securities issued by an authority and the coupons applicable thereto and the income therefrom, and all indentures and other instruments executed as security therefor, all leases made pursuant to this article and all revenues derived from any such leases, and all deeds and other documents executed by or delivered to an authority shall be exempt from any and all taxation by any public person, including, without limitation, license and excise taxes imposed in respect of the privilege of engaging in any of the activities in which an authority may engage. An authority shall not be obligated to pay or allow any fees, taxes, or costs to the probate judge in connection with the amendment of its articles or the recording of any document. The gross proceeds of the sale of any property used in a road improvement project or the construction and equipping of any road improvement facility for an authority, regardless of whether or not the sale is to an authority or any contractor or agent thereof, shall be exempt from the sales tax imposed by Article 1 of Chapter 23 of Title 40, and from all other sales and similar excise taxes now or hereafter levied on or with respect to the gross proceeds of any such sale by a public person; and any property used in a road improvement project or the construction and equipping of any road improvement facility for an authority, regardless of whether the property has been purchased by an authority or any contractor or agent thereof, shall be exempt from the use tax imposed by Article 2 of Chapter 23 of Title 40, and all other use and similar excise taxes now or hereafter levied on or with respect to property by a public person.
(Act 2021-408, §18.)
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 9 › Section 11-81-278 - Transfer of Funds and Assets to Authority.

Section 11-81-278
Transfer of funds and assets to authority.
Any public person may transfer and convey to an authority, with or without consideration any properties, real, personal, or mixed, and all funds and assets, tangible or intangible, that may be owned by a public person or that may be jointly owned by any two or more thereof, and any funds owned or controlled by a public person or jointly by any two or more thereof, whether or not the property or funds are considered necessary for the conduct of the governmental or public functions, if any, of a public person. The transfer or conveyance shall be authorized by an ordinance or resolution duly adopted by the governing body of a public person. The ordinance or resolution need not be published or posted and need not be offered for more than one reading.
(Act 2021-408, §20.)
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 9 › Section 11-81-279 - Dissolution of Authority; Title to Property of Authority to Vest in County of Incorporation Upon Dissolution of Authority Unless Otherwise Provided.

Section 11-81-279
Dissolution of authority; title to property of authority to vest in county of incorporation upon dissolution of authority unless otherwise provided.
(a) At any time when no bonds of an authority are outstanding, the authority may be dissolved by the adoption of a resolution by the board of directors recommending dissolution and by the approval of the dissolution by the governing body of the county of incorporation and each participating municipality and the adoption of a resolution to the effect that the county and each participating municipality concur. The resolution need not be published or posted and need not be offered for more than one reading. Upon the dissolution the chair and secretary of the dissolved authority shall execute articles of dissolution reciting that the resolutions have been adopted and that the authority has been dissolved. The articles of dissolution shall be filed with the probate judge, who shall record the dissolution.
(b) Upon dissolution of an authority, title to all its property shall be vested in the public persons in its articles, or if no specification exists, in the county of incorporation.
(Act 2021-408, §21.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81A - Issuance of Securities in Anticipation of Receipt of Grants. › Section 11-81A-1 - Definitions.

Section 11-81A-1
Definitions.
As used in this chapter, the following words and terms shall have the following respective meanings:
(1) CONDITIONS OF A GRANT. The terms and conditions upon which a grant is made by a donor.
(2) COUNTY. Any county in the State of Alabama.
(3) DONOR. The United States of America, or the state, or any county in the state or any municipality or any department, division, board, bureau, institution, or agency of any of the foregoing, or any person, firm or corporation, institution, foundation, or other agency or any combination of any two or more such donors.
(4) GOVERNING BODY. The council, commission, board of directors, or other group or body which governs, controls, or makes decisions for a grantee.
(5) GRANT. Any gift, grant, appropriation, donation, or advance by any donor, whether absolute or conditional, for any purpose.
(6) GRANTEE. Any municipality, or any department, board, bureau, commissioner, or agency of any municipality, whether incorporated or not, acting on behalf of the municipality, or any public corporation, to which a grant is to be made.
(7) MUNICIPALITY. Any city or town incorporated under the laws of the state.
(8) PUBLIC CORPORATION. Any board, authority, or other municipal public corporation incorporated with the approval of, or the directors of which are elected or appointed by, the governing body of a municipality. A city board of education shall be considered a public corporation within the meaning of this chapter.
(9) SECURITIES. One or more bonds, notes, warrants, or certificates of indebtedness of a municipality or public corporation.
(10) STATE. The State of Alabama.
(Acts 1980, No. 80-697, p. 1400, §1.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81A - Issuance of Securities in Anticipation of Receipt of Grants. › Section 11-81A-2 - Power and Authority of Grantees.

Section 11-81A-2
Power and authority of grantees.
Each grantee shall have the power, and, when approved by its governing body, the authority, to do or perform any one or more of the following:
(1) To apply to any donor for a grant and to pay the expenses involved in making such application;
(2) To accept and receive grants from any donor;
(3) To expend or apply the proceeds of any grant for the purpose or purposes for which the same is made;
(4) To agree to comply with the conditions of the grant;
(5) To pay over or donate or loan to any board, authority, or agency of the grantee, or to any municipality, or to any public corporation, or to any county or counties in the state or to the state, or to any board, bureau, authority, institution, or agency of the grantee, or of such public corporation, or of such county or counties, or of the state or to any person, firm or corporation, any grant proceeds authorized or permitted to be so paid over, donated or loaned by the conditions of the grant.
(Acts 1980, No. 80-697, p. 1400, §2.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81A - Issuance of Securities in Anticipation of Receipt of Grants. › Section 11-81A-3 - Power and Authority of Municipalities, Counties, and Public Corporations.

Section 11-81A-3
Power and authority of municipalities, counties, and public corporations.
Each municipality or county and each public corporation shall have the power and, when approved by its governing body, the authority, to do or perform any one or more of the following:
(1) To anticipate the receipt of any grant either by loan or by assignment or both; to issue securities to evidence such loan or assignment; to make such securities the general obligation indebtedness of the issuer or the obligation of the issuer limited or restricted as to source of payment and security to all or a portion of the proceeds of the grant or to any revenue, receipts, or income or any special tax or license of the issuer, or any one or more thereof.
(2) To pledge to the holders of any securities issued pursuant to this chapter the full faith and credit of the issuer and in addition to, or instead of such pledge, to pledge and grant a security interest in all or a portion of the proceeds of the grant or any revenue, receipts or income or any special tax or license of the issuer, or any one or more thereof; or to mortgage or grant a security interest in any property of the issuer as security for any such securities, as the governing body of the issuer may determine.
(3) To pledge, assign, and grant a security interest in all or any part of the proceeds of any grant to the holders of any securities issued by the municipality, county or the public corporation for any lawful purpose under the authority of any law other than this chapter.
(Acts 1980, No. 80-697, p. 1400, §3.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81A - Issuance of Securities in Anticipation of Receipt of Grants. › Section 11-81A-4 - Limitations and Amplification of Securities Authorization.

Section 11-81A-4
Limitations and amplification of securities authorization.
Securities issued under the authority of this chapter shall mature at such time or times as the governing body of the issuer shall determine, not later than the date on which the last installment of the grant is reasonably expected to be received. The total principal amount of securities which may be issued in respect of a grant shall not exceed the reasonably estimated proceeds of the grant. The determination of the governing body of the issuer of the date on which the last installment of the grant will be received and the amounts of the proceeds of any grant to be received shall be conclusive. Securities issued under the authority of this chapter shall be of such denomination and tenor, shall contain such covenants and restrictions and provisions and shall be payable at such place or places, within or without the state, as the governing body of the issuer shall determine. Such securities shall be executed in the name of the issuer by the mayor or other chief executive officer and attested by the clerk or secretary thereof, with the seal of the issuer impressed thereon, but coupons for interest, if interest is evidenced by coupons, need be signed only by the mayor or other chief executive officer. Execution by facsimile signature and seal in the manner authorized by law for bonds of a municipality or county may be authorized by the governing body.
(Acts 1980, No. 80-697, p. 1400, §4.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81A - Issuance of Securities in Anticipation of Receipt of Grants. › Section 11-81A-5 - Exemption of Securities From Taxation.

Section 11-81A-5
Exemption of securities from taxation.
All securities issued by authority of this chapter and the interest thereon shall be exempt from all taxation in the state.
(Acts 1980, No. 80-697, p. 1400, §5.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81A - Issuance of Securities in Anticipation of Receipt of Grants. › Section 11-81A-6 - Legal Investment Status of Securities.

Section 11-81A-6
Legal investment status of securities.
Securities issued under the authority of this chapter shall be securities in which the state, the grantee, all counties, and political subdivisions of this state, their officers, boards, departments or agencies, and all banks, bankers, trust companies, savings and loan associations, investment companies, and other persons carrying on a banking business, all insurance companies and insurance associations and other persons carrying on an insurance business, all administrators, executors, guardians, trustees, and other fiduciaries, and all other persons who now are or may hereafter be authorized to invest in securities issued by a municipality or county, may properly and legally invest any funds, including capital belonging to them or within their control.
(Acts 1980, No. 80-697, p. 1400, §6.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 81A - Issuance of Securities in Anticipation of Receipt of Grants. › Section 11-81A-7 - Effect of Chapter.

Section 11-81A-7
Effect of chapter.
This chapter is intended to grant additional authority to grantees, municipalities, counties, and public corporations and shall not be considered to repeal, restrict, or modify any law now in effect or hereafter enacted.
(Acts 1980, No. 80-697, p. 1400, §7.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 82 - Redemption of Securities. › Section 11-82-1 - Definitions.

Section 11-82-1
Definitions.
As used in this chapter, the following words and phrases shall have the following meanings, respectively, unless the context clearly indicates otherwise:
(1) SECURITIES. All types of bonds, warrants, certificates of indebtedness, notes and all evidences of indebtedness issued by any county or municipality in this state.
(2) OPTION TO REDEEM. Any option retained by the county or municipality in the proceedings authorizing the issuance of securities whereunder such county or municipality has the option of calling for redemption or of paying on a specified date or dates at a specified price or prices all or any part of such securities as may be provided in such proceedings.
(3) REDEMPTION DATE. The date on which securities shall be made subject to payment pursuant to the exercise by the issuing county or municipality of any option to redeem retained by such county or municipality in the proceedings whereunder such securities are authorized to be issued.
(Acts 1945, No. 395, p. 613, §1.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 82 - Redemption of Securities. › Section 11-82-2 - Retention of Option to Redeem - Generally.

Section 11-82-2
Retention of option to redeem - Generally.
Any county or municipality in this state which may hereafter issue securities may, if such action shall be deemed advisable by the governing body of such county or municipality, retain in the proceedings of such governing body authorizing the issuance of such securities an option to redeem all or any part thereof as may be specified in such proceedings at such price or prices and after such notice or notices and on such terms and conditions as may be set forth in such proceedings and as may be briefly recited in the face of such securities.
(Acts 1945, No. 395, p. 613, §2.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 82 - Redemption of Securities. › Section 11-82-3 - Retention of Option to Redeem - Securities Maturing More Than 10 Years After Date.

Section 11-82-3
Retention of option to redeem - Securities maturing more than 10 years after date.
Any county or municipality in this state which may hereafter issue securities having a stated maturity more than 10 years after the date thereof shall retain in the proceedings of its governing body authorizing the issuance of such securities an option to redeem at the expiration of the tenth year following the date of such securities and on any interest payment date subsequent thereto all or any part of such securities having stated maturities subsequent to the expiration of the tenth year after their date at such price or prices and after such notice or notices and on such terms and conditions as may be set forth in such proceedings and briefly recited in the face of such securities.
(Acts 1945, No. 395, p. 613, §3.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 82 - Redemption of Securities. › Section 11-82-4 - Limitation on Redemption Prices.

Section 11-82-4
Limitation on redemption prices.
The price or prices at which any redemption whatsoever shall be made shall not exceed the par value of the securities with respect to which such option may be exercised plus accrued interest thereon to the redemption date and plus a premium which shall not exceed 12 months' interest on such securities, computed at the rate which such securities would bear on the redemption date as specified therein if such option had not been exercised.
(Acts 1945, No. 395, p. 613, §4.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 82 - Redemption of Securities. › Section 11-82-5 - Option to Redeem to Be Provided in Proceedings for Issuance of Securities.

Section 11-82-5
Option to redeem to be provided in proceedings for issuance of securities.
Nothing contained in this chapter shall be construed to confer on any county or municipality any right or option to redeem any securities heretofore or hereafter issued except as is or may be provided in the proceedings under which such securities were or shall be issued.
(Acts 1945, No. 395, p. 613, §7.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 82 - Redemption of Securities. › Section 11-82-6 - Applicability of Provisions of Chapter.

Section 11-82-6
Applicability of provisions of chapter.
The provisions of Sections 11-82-3 and 11-82-4 shall not apply, however, to any securities which have been authorized to be issued by any county or municipality by resolution or ordinance duly adopted by the proper governing body prior to July 7, 1945 or which have been authorized to be issued at any election held prior to July 7, 1945 at which the ballot used contained provisions for redemption different from those specified in Sections 11-82-3 and 11-82-4, and nothing contained in this chapter shall prevent the issuance of any such securities so authorized prior to July 7, 1945.
(Acts 1945, No. 395, p. 613, §5.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 82 - Redemption of Securities. › Section 11-82-7 - Validation of Certain Proceedings.

Section 11-82-7
Validation of certain proceedings.
All proceedings heretofore taken or adopted pursuant to which securities have heretofore been issued or are authorized to be issued hereafter by any county or municipality in this state, in which proceedings an option to redeem was reserved by the issuing county or municipality on the terms and conditions set out in such proceedings, are hereby validated.
(Acts 1945, No. 395, p. 613, §6.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 83 - Apportionment of Road and Bridge Taxes Between Counties and Municipalities. › Section 11-83-1 - Maintenance of Municipal Streets Declared County Matter.

Section 11-83-1
Maintenance of municipal streets declared county matter.
The maintenance of streets of municipalities in the State of Alabama is declared to be a county matter.
(Acts 1909, No. 183, p. 303; Code 1923, §6773; Code 1940, T. 12, §129.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 83 - Apportionment of Road and Bridge Taxes Between Counties and Municipalities. › Section 11-83-2 - One Half of Road Tax, etc., Collected in County to Be Paid to Municipalities Therein.

Section 11-83-2
One half of road tax, etc., collected in county to be paid to municipalities therein.
The county commission, where there is levied a road tax, general or special, or where by the tax levy a portion of the tax is levied for or devoted to the purpose of constructing, repairing, or maintaining roads and highways of any description in the county, except the special tax authorized by Section 215 of the Constitution, shall pay over each year to each municipality therein one half of the money collected on such road tax on the property located in such municipality.
(Acts 1909, No. 183, p. 303; Code 1923, §6774; Code 1940, T. 12, §130.)
2023 Code of Alabama › Title 11 - Counties and Municipal Corporations. › Title 3 - Provisions Applicable to Counties and Municipal Corporations. › Chapter 83 - Apportionment of Road and Bridge Taxes Between Counties and Municipalities. › Section 11-83-3 - Taxes Paid Over to Municipalities to Be Used Exclusively for Maintenance of Streets.

Section 11-83-3
Taxes paid over to municipalities to be used exclusively for maintenance of streets.
Such sums when paid over to the municipalities shall be used exclusively for maintaining the streets in the corporate limits of such municipality, but if the tax is levied for any particular class of roads or highways, such sums shall be used on the streets of the municipality for roads of a similar character to such roads or highways.
(Acts 1909, No. 183, p. 303; Code 1923, §6775; Code 1940, T. 12, §131.)