Alabama Code 11-88-104. Consolidation of outstanding bond issues for refunding; disposition of assessments collected for improvements financed by said outstanding issues generally
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Terms Used In Alabama Code 11-88-104
- 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.
In exercising the powers conferred by Sections settlement, adjustment, or refunding of bonds” class=”unlinked-ref” datatype=”S” sessionyear=”2020″ statecd=”AL” title=”11″>11-88-102 and 11-88-103, it shall not be necessary to make a separate issue of refunding bonds with respect to each outstanding issue, but two or more of such outstanding issues or portions thereof may be grouped together in a single refunding issue, in which event all assessments thereafter collected with respect to any of the improvements financed by the separate issues or the proper proportionate part thereof shall be applicable to the payment of such refunding bonds.