2013 Code of Alabama
Title 11 - COUNTIES AND MUNICIPAL CORPORATIONS.
Title 2 - PROVISIONS APPLICABLE TO MUNICIPAL CORPORATIONS ONLY.
Section 11-71-10 - Dissolution and liquidation of authority.
If at any time an authority has no assessments outstanding, and has paid all its indebtedness, and distributed any excess funds, the board may adopt a resolution recommending to the municipality that the authority be dissolved and liquidated. Upon delivery of a copy of the resolution to the municipality, if it considers it expedient, the municipality may adopt a resolution declaring the authority dissolved. Upon declaring the authority dissolved, the authority shall dedicate the facilities and revitalization projects to the municipality. The municipality must formally accept such dedicated facilities and projects before it agrees to assume the legal obligation to maintain the facilities and projects.
(Act 2011-689, p. 2105, §10.)Disclaimer: These codes may not be the most recent version. Alabama may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
