The authority shall be a nonprofit corporation, and no part of its net earnings remaining after payment of its expenses shall inure to the benefit of any individual, firm, or corporation except as provided in this section. 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 equally in, the principal municipality and the authorizing county, as tenants in common.
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.