11-49A-19
At any time when the authority has no bonds or other obligations outstanding, the board may adopt a resolution, which shall be duly entered upon its minutes, declaring that the authority shall be dissolved. Upon the filing for record of a certified copy of the said resolution in the office of the judge of probate of the county in which the authorizing municipality is located, the authority shall thereupon stand dissolved and in the event it owned any property at the time of its dissolution, the title to all its properties shall thereupon pass to, and be divided and apportioned as follows: Title to real estate shall vest in the county or municipality, as the case may be, in which the said real estate is located, and the title to tangible personal property (including cash on hand and in banks), accounts receivable, choses in action, and other intangible property (other than tangible interest in land) shall vest in the authorizing municipality. (Acts 1979, No. 79-777, p. 1380, §19.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-49A-19.htm - 1K - Match Info - Similar pages
45-49A-64.19
At any time when the authority has no bonds or other obligations outstanding, the board may adopt a resolution, which shall be duly entered upon its minutes, declaring that the authority shall be dissolved. Upon the filing for record of a certified copy of the resolution in the office of the judge of probate of the county in which the authorizing municipality is located, the authority shall thereupon stand dissolved and in the event it owned any property at the time of its dissolution, the title to all is properties shall thereupon pass to, and be divided and apportioned as follows: Title to real estate shall vest in the county or municipality, as the case may be, in which the real estate is located, and the title to tangible personal property (including cash on hand and in banks), accounts receivable, choses in action, and other intangible property (other than intangible interest in land) shall vest in the authorizing municipality. (Acts 1975, 2nd Sp. Sess., No. 31, p. 141, §20.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-49A-64.19.htm - 1K - Match Info - Similar pages
11-54-189
Section 11-54-189 Dissolution of authority and vesting of title to property in authorizing municipality. At any time when an authority has no bonds or other obligations outstanding, its board may adopt a resolution, which shall be duly entered upon its minutes, declaring that the authority shall be dissolved. Upon filing for record of a certified copy of the said resolution in the office of the judge of probate of the county with which the authority's certificate of incorporation is filed, the authority shall thereupon stand dissolved and in the event it owned any property at the time of its dissolution, the title to all its properties shall thereupon pass to the authorizing municipality. (Acts 1980, No. 80-648, p. 1235, §20.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54-189.htm - 1K - Match Info - Similar pages
11-47-219
Section 11-47-219 Authority and procedure for dissolution of authorities; vesting of title, etc., to properties thereof upon dissolution. At any time when an authority has no bonds or other obligations outstanding, its board may adopt a resolution, which shall be duly entered upon its minutes, declaring that the authority shall be dissolved. Upon filing for record of a certified copy of the resolution in the office of the judge of probate with which the authority's certificate of incorporation is filed, the authority shall thereupon stand dissolved and in the event it owned any property at the time of its dissolution, the title to all its properties shall, subject to any constitutional provision or inhibitions to the contrary, thereupon vest in one or more counties or municipalities in the manner and interests as may be provided in the certificate of incorporation. Notwithstanding the foregoing, if the certificate of incorporation contains no provision respecting the vesting of title...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-47-219.htm - 1K - Match Info - Similar pages
11-49B-19
Section 11-49B-19 Dissolution of authority and vesting of property. At any time when the authority has no bonds or outstanding obligations, the board may adopt a resolution, which shall be duly entered upon its minutes, declaring that the authority shall be dissolved. Upon the filing for record of a certified copy of the resolution in the office of the judge of probate of the authorizing county, the authority shall be dissolved and in the event it owned any property at the time of its dissolution, the title to its properties shall pass to, and vest in the authorizing county, the principal municipality, and the participating municipalities. The county and each municipality shall have title to the property as tenant in common. The fractional interest of the authorizing county, the principal municipality, and each participating municipality in the property shall be represented by a fraction the numerator of which is the total amount of fund provided by the authorizing county and each...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-49B-19.htm - 1K - Match Info - Similar pages
16-17-19
Section 16-17-19 Dissolution of authority and vesting of title to its properties. At any time when the authority does not have any bonds outstanding and when there shall be no obligations assumed by the authority that are then outstanding, the board may adopt a resolution, which shall be duly entered upon its minutes, declaring that the authority shall be dissolved. Upon the filing for record of a certified copy of said resolution in the office of the judge of probate of the county in which the authority's original certificate of incorporation was filed, the authority shall thereupon stand dissolved, and in the event it owned any property at the time of its dissolution, the title to all its property shall thereupon vest in the determining municipality. In the event the authority shall at any time have outstanding bonds issued hereunder payable out of the revenues from various ancillary improvements, then, as and when the principal of and the interest on all bonds payable, in whole or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-17-19.htm - 2K - Match Info - Similar pages
16-18-21
Section 16-18-21 Dissolution of authority and vesting of title to its properties. At any time when the authority does not have any bonds outstanding and when there shall be no obligations assumed by the authority that are then outstanding, the board may adopt a resolution, which shall be duly entered upon its minutes, declaring that the authority shall be dissolved. Upon the filing for record of a certified copy of said resolution in the office of the judge of probate of the county in which the authority's original certificate of incorporation was filed, the authority shall thereupon stand dissolved, and in the event it owned any property at the time of its dissolution the title to all its property shall thereupon vest in the determining municipality. In the event the authority shall at any time have outstanding bonds issued hereunder payable out of the revenues from various ancillary improvements, then, as and when the principal of and the interest on all bonds payable, in whole or in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-18-21.htm - 1K - Match Info - Similar pages
11-57-24
Section 11-57-24 Authority and procedure for dissolution of authorities; vesting of title to assets or properties thereof in municipalities upon dissolution; formation of authorities not to prevent subsequent formation of other authorities by same municipalities. (a) At any time when the authority does not have any bonds outstanding, the board may adopt a resolution, which shall be duly entered upon its minutes, declaring that the authority shall be dissolved. Upon the filing for record of a certified copy of said resolution in the office of the judge of probate of the county, the authority shall thereupon stand dissolved; and, in the event that it owned any assets or property at the time of its dissolution, the title to all its assets and property shall thereupon vest in the municipality. In the event the authority shall at any time have outstanding bonds issued hereunder payable out of the revenues of different projects, then as and when the principal of and interest on all bonds...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-57-24.htm - 1K - Match Info - Similar pages
11-60-15
Section 11-60-15 Authority and procedure for dissolution of corporations; vesting of title to funds and properties thereof in municipalities upon dissolution. Whenever the board of directors of the corporation shall by resolution determine that the purposes for which the corporation was formed have been substantially complied with and all bonds theretofore issued and all obligations theretofore incurred by the corporation have been fully paid, the then members of the board of directors of the corporation shall thereupon execute and file for record in the office of the judge of probate of the county in which the corporation is organized a certificate of dissolution reciting such facts and declaring the corporation to be dissolved. Such certificate of dissolution shall be executed under the corporate seal of the corporation. Upon the filing of such certificate of dissolution, the corporation shall stand dissolved, the title to all funds and properties owned by it at the time of such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-60-15.htm - 1K - Match Info - Similar pages
45-46-90.18
Section 45-46-90.18 Dissolution of authority. At any time when the authority has no bonds or other obligations outstanding, the board may adopt a resolution, which shall be duly entered upon its minutes, declaring that the authority shall be dissolved. Upon the filing for record of a certified copy of the resolution in the office of the judge of probate of the county of incorporation, the authority shall thereupon stand dissolved and in the event it owned any property at the time of its dissolution, the title to all its properties shall thereupon pass to the authorizing county or municipality. (Act 86-547, p. 1106, § 19.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-46-90.18.htm - 940 bytes - Match Info - Similar pages
|