(a) For the purpose of providing funds to pay the cost of any improvement made under the provisions of this article, the governing body of any municipality may:
(1) Borrow money temporarily on the faith and credit of the municipality, executing its negotiable note therefor, which negotiable note may not run longer than a period of one year; or
(2) Issue bonds within the limitations prescribed by the Constitution.
(b) Such temporary loan or issue of bonds may be made before the contract is let for the improvements or during the progress of the work, in installments as the work progresses, and the making of one loan or the issue of one series of bonds shall not exhaust the power of the municipality to provide sufficient funds for the completion of the improvement. The municipality may pledge as security for such loan, whether evidenced by negotiable notes or bonds, the proceeds of the assessments made or to be made against the property benefited by the improvements and may transfer and assign for the benefit of said negotiable note or bond holder the lien of the municipality thereon, with power to enforce the same by civil action, but if negotiable notes or bonds shall be issued before the completion of the work, they shall not be issued in excess of the cost of the improvements as estimated at the time of the issue of the negotiable notes or bonds. If money is borrowed and negotiable notes or bonds issued after the work is completed, such negotiable notes or bonds shall not exceed in the aggregate the total cost of the improvements.
(c) No irregularity or technical defect in the proceedings relating to the making of the improvement shall in any way affect the power of the municipality to borrow money, either by the issue of negotiable notes or bonds, for the completion of the improvement.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 2 - Provisions Applicable to Municipal Corporations Only.
Chapter 48 - Public Improvements and Assessments Generally.
Article 1 - General Provisions.
Section 11-48-1 - Short Title.
Section 11-48-2 - Definitions.
Section 11-48-3 - Applicability of Provisions of Article.
Section 11-48-4 - General Powers of Municipalities as to Public Improvements.
Section 11-48-9 - Costs of Proposed Improvements Specified; Payment of Portion Thereof by Council.
Section 11-48-10 - When Council to Establish Grade of Street, Alley, Sidewalk, etc., to Be Improved.
Section 11-48-11 - Notice, Advertisement and Letting of Contract for Improvements.
Section 11-48-12 - City or Town Engineer, etc., to Supervise Work, Appointment of Engineer, Etc.
Section 11-48-13 - Council to Accept or Reject Work, etc., for Municipality.
Section 11-48-16.1 - Assessment of Charge Against Landowner Seeking to Connect to Sewer.
Section 11-48-18 - Manner of Assessment of Costs of Improvements Generally - Sidewalk Improvements.
Section 11-48-19 - Assessment of Costs of Improvements Against Railroads.
Section 11-48-20 - Preparation, etc., of List of Property Owners to Be Assessed for Improvement.
Section 11-48-21 - Entry of List in Assessment Book for Local Improvements.
Section 11-48-23 - Notice of Hearing Upon Objections, etc., to Assessments.
Section 11-48-24 - Contents of Notice as to Assessments for Improvements.
Section 11-48-25 - Effect and Correction of Defects or Errors in Notice.
Section 11-48-26 - Filing of Written Objections, etc., to Assessments by Property Owners.
Section 11-48-27 - Hearing Upon Objections to Assessments - Conduct Generally.
Section 11-48-32 - Assignment and Transfer of Assessment Liens.
Section 11-48-33 - Enforcement of Assessment Liens in Circuit Court.
Section 11-48-36 - Appeals to Circuit Court From Assessments - Authorized.
Section 11-48-37 - Appeals to Circuit Court From Assessments - Bond.
Section 11-48-38 - Appeals to Circuit Court From Assessments - Entry on Trial Docket.
Section 11-48-39 - Appeals to Circuit Court From Assessments - Transcript for Appeal - Contents.
Section 11-48-40 - Appeals to Circuit Court From Assessments - Authorized - Prima Facie Evidence.
Section 11-48-43 - Appeals From Judgment of Circuit Court - by Property Owner - Authorized; Bonds.
Section 11-48-44 - Appeals From Judgment of Circuit Court - by Property Owner - Conduct Generally.
Section 11-48-48 - Payment of Assessments Generally.
Section 11-48-48.1 - Payment of Assessments in Class 2 Municipalities.
Section 11-48-54 - Redemption of Property After Sale Generally.
Section 11-48-55 - Extension of Redemption Period.
Section 11-48-58 - Redemption of Property During Extended Redemption Period.
Section 11-48-60 - Applicability of Provisions of Sections 11-48-54 Through 11-48-58.
Section 11-48-62 - Issuance of Bonds After Completion of Work.
Section 11-48-63 - Applicability of Provisions of Law as to Issuance of Municipal Bonds Generally.
Section 11-48-64 - Acquisition of Lands, Easements, etc., for Public Improvements.