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2020 Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 3 - Provisions Applicable to Counties and Municipal Corporations.
Chapter 99A - Alabama Improvement Districts.
Section 11-99A-17 - Pledge of Assessments.
Universal Citation: AL Code § 11-99A-17 (2020)
Section 11-99A-17
Pledge of assessments.
If bonds are issued with respect to all or part of an assessment, all proceeds of the assessment allocable to the payment of such bonds shall be pledged to secure payment of the bonds and shall be paid directly by the property owners to the board or to a trustee or other holder of funds as may be appointed by the board for the benefit of the holders of the bonds.
(Act 99-446, p. 1013, §1; Act 2013-373, p. 1364, §1.)
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