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2013 Code of Alabama
Title 11 - COUNTIES AND MUNICIPAL CORPORATIONS.
Title 3 - PROVISIONS APPLICABLE TO COUNTIES AND MUNICIPAL CORPORATIONS.
Section 11-99A-18 - Refundings.


AL Code § 11-99A-18 (2013) What's This?
Section 11-99A-18Refundings.

Any bonds issued by a district may be refunded by the district, and upon refunding, by current or advance refunding, the term for payment of the assessments shall be modified to the term of the newly issued bonds. If the refunding results in a lower interest rate from that borne by the refunded bonds, the board may adjust the interest rate borne by the assessments accordingly.

(Act 99-446, p. 1013, §1.)

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