All certificates evidencing loans made under the authority of this chapter shall be registered by the county treasurer in the order of their issue and the said treasurer shall retain out of the taxes collected for the year and paid over to him a sufficient amount to pay said certificates. Said certificates shall be in the order of their registration and they shall be entitled to priority of payment out of the proceeds of the taxes pledged to pay the same.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 1 - Provisions Applicable to Counties Only.
Chapter 10 - Making of Loans in Anticipation of Taxes.
Section 11-10-2 - Amount of Loans; Interest, Maturity, Renewal, etc.; Disposition of Proceeds.
Section 11-10-3 - Registration and Payment of Certificates.
Section 11-10-4 - Cancellation of Certificates.
Section 11-10-5 - Certificates Exempt From Taxation.
Section 11-10-6 - State and Local Fiscal Assistance Act of 1972.