Alabama Code 11-88-103. Procedure where special fund used by authority in taking up bonds or coupons representing principal at maturity
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Alabama Code 11-88-103
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
Where the authority has used any part of any other special fund for the purpose of taking up at maturity bonds or coupons representing a portion of the principal of bonds which had heretofore been issued for improvements and which had fallen due, the provisions of Section settlement, adjustment, or refunding of bonds” class=”unlinked-ref” datatype=”S” sessionyear=”2020″ statecd=”AL” title=”11″>11-88-102 shall be construed to permit either the issuance of refunding bonds to the authority’s treasurer as custodian of such fund or the sale of such bonds for the purpose of replacing in such fund all moneys of such fund so used.