Alabama Code 45-50-244.11. Cost of collection
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Alabama Code 45-50-244.11
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- following: means next after. 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 designated collection agency shall charge and deduct from the proceeds of the tax levied an amount equal to the cost to the agency of making the collections not to exceed two percent of the total amount of tax collected. Following that deduction, the collection agency shall pay the remainder of the tax proceeds to Monroe County. The net proceeds of the tax levied pursuant to this part shall be used for the purpose of paying costs of acquiring, providing, constructing, and operating a new jail in the county, including the acquisition of land and equipment, and for the payment of debt service on any indebtedness issued or incurred by the county or a public corporation for such purpose.
