There is a newer version
of
this Section
2017 Code of Alabama
Title 11 - COUNTIES AND MUNICIPAL CORPORATIONS.
Title 3 - PROVISIONS APPLICABLE TO COUNTIES AND MUNICIPAL CORPORATIONS.
Chapter 88 - WATER, SEWER AND FIRE PROTECTION AUTHORITIES.
Article 2 - Construction of Sewage Treatment or Disposal Plants, etc., in Resort Areas by Authorities.
Section 11-88-105 - Separate sinking fund accounts to be maintained for refunding bond issues; disposition of same.
Universal Citation: AL Code § 11-88-105 (2017)
Section 11-88-105Separate sinking fund accounts to be maintained for refunding bond issues; disposition of same.
A separate sinking fund account shall be provided and kept for each refunding bond issue authorized under the provisions of Sections 11-88-102, 11-88-103, and 11-88-104 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 1973, No. 826, p. 1293, §65.)
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.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
