Alabama Code 11-101A-12. Refunding securities; limitations
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Terms Used In Alabama Code 11-101A-12
- following: means next after. See Alabama Code 1-1-1
- preceding: means next before. See Alabama Code 1-1-1
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
The authority may also at any time, and from time to time, sell and issue its securities for the combined purpose of refunding any of its securities and of obtaining funds for any other purpose for which it is authorized by this chapter to sell and issue securities, in which event the provisions of this chapter relating to refunding securities shall apply only to those securities issued for refunding purposes.