All indebtedness and liabilities of every kind and character of the city or town annexed shall be paid or payment thereof assumed by the annexing city or town. As between the city or town annexed and the annexing city or town, the agreement of annexation and the terms thereof shall be binding as regards the payment or assumption of such indebtedness, but as to creditors, the payment or the assumption of payment by the annexing city or town shall be absolute and unconditional.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 2 - Provisions Applicable to Municipal Corporations Only.
Chapter 42 - Alteration of Corporate Limits.
Article 5 - Consolidation of Noncontiguous Municipalities.
Section 11-42-150 - Applicability of Provisions of Article.
Section 11-42-152 - Calling of Election; Conduct of Election Generally; Notice of Election.
Section 11-42-153 - Form and Marking of Ballots.
Section 11-42-158 - Collection and Disbursement of Taxes.
Section 11-42-160 - Continuation of Rights of Action Against Municipality Annexed.
Section 11-42-161 - Continuation of Civil Actions Brought by Municipality Annexed.
Section 11-42-162 - Continuation of Rights of Action of Municipality Annexed.
Section 11-42-163 - Payment or Assumption of Indebtedness and Liabilities of Municipality Annexed.