A resolution of the board or trust indenture under which bonds may be issued pursuant to this chapter may contain provisions creating a statutory mortgage lien, in favor of the holders of the bonds, on the transit systems, or including any after-acquired property out of the revenues from which the bonds are made payable. The resolution of the board or the trust indenture may provide for the filing for record in the office of the judge of probate of each county in which a part of the transit system may be located of a notice containing a brief description of the systems, a brief description of the bonds, and a declaration that the statutory mortgage lien has been created for the benefit of the holders of the bonds, upon the systems, including any additions to a system and extensions of a system. Each judge of probate shall receive, record, and index any notice filed for record in his or her office. The recording of the notice shall operate as constructive notice of the contents of the notice.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 1 - Provisions Applicable to Counties Only.
Chapter 32 - Public Transportation in Counties Having Population of 600,000 or More.
Section 11-32-1 - Legislative Findings.
Section 11-32-2 - Definitions.
Section 11-32-3 - Incorporation as a Public Corporation; Applications.
Section 11-32-4 - Certificate of Incorporation - Filing; Contents; Execution.
Section 11-32-5 - Certificate of Incorporation - Amendment.
Section 11-32-6 - Board of Directors.
Section 11-32-7 - Powers of Authority.
Section 11-32-8 - Rates and Charges.
Section 11-32-9 - Bonds - Form and Execution; Sale; Obligations; Notice.
Section 11-32-10 - Bonds - Contracts as Security for Payment.
Section 11-32-11 - Statutory Mortgage Lien.
Section 11-32-12 - Use of Bond Proceeds.
Section 11-32-13 - Powers of Localities, Agencies, Etc.
Section 11-32-14 - Exemption From Taxes, Fees, and Costs.
Section 11-32-15 - Incorporation of Subsequent Authority.
Section 11-32-16 - Exemption From Other State Supervision and Control.
Section 11-32-17 - Use of Public Roads.
Section 11-32-18 - Annual Audit.
Section 11-32-19 - Labor Unions.
Section 11-32-20 - Dissolution of Transit Authority.
Section 11-32-21 - Employee Protective Provisions.
Section 11-32-22 - Applicability to Birmingham-Jefferson County Transit Authority.
Section 11-32-23 - Funding - Annual Payments.
Section 11-32-24 - Funding - Amount Paid by Authorizing County.
Section 11-32-25 - Funding - Amount Paid by Principal Municipality.
Section 11-32-26 - Request for Service.
Section 11-32-27 - Budget Requirements.
Section 11-32-28 - Certification of Routes.
Section 11-32-29 - Costs of Operation.
Section 11-32-30 - Certification of Amounts to Be Paid to Authority.
Section 11-32-31 - Payment Schedule; Sufficiency of Funds.
Section 11-32-32 - Payments Made According to Schedule.
Section 11-32-33 - Examination and Audits of Books and Records.