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2006 Alabama Code - Section 11-50-17 — Payment of interest by waterworks boards in Class 1 municipalities on customer security deposits.

Any public waterworks board in a Class 1 municipality in the state shall pay six and one-half interest per annum on all customer security deposits required for utility service. Such interest shall be paid under such rules and regulations as shall be promulgated by the municipal governing body.

(Acts 1980, No. 80-327, p. 448.)

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