Ala. Code § 11-50-105 (1975) Use of Proceeds to Redeem Bonds and Coupons; Disposition of Excess

• Library: Alabama Statutes
• Edition: 2023
• Currency: Current with legislation from the 2023 Regular and Special Sessions.
• Year: 2023
• Citation: Ala. Code § 11-50-105 (1975)

At any time when the amount of any particular fund shall, with its accumulations, equal the amount of outstanding bonds and accru...

The excess, if any, when all bonds and coupons are redeemed and the interest thereon paid, and not in excess of the total cost and expense of the purchase of such sewer or sewers or sewer system, shall be converted into the general revenue fund of the city or town.