The bonds issued under this division shall be payable in from 10 years to 15 years from their date as determined by the council, but any bond or bonds so issued and sold shall, at the option of the city or town, be payable at any interest period.
In the event the city or town should elect to pay off any such bond or bonds before maturity, it shall pay as a bonus to the holder thereof a sum equal to one-fourth the annual interest thereon, and the city or town shall give public notice of its intention to redeem said bond or bonds, describing the same by number and series, by publication once a week for three successive weeks in a newspaper published in said city or town or of general circulation therein; and, if said bonds are registered, such notice shall also be sent by registered or certified mail to the address of the registered owner thereof where such address is shown on the book of registration.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 2 - Provisions Applicable to Municipal Corporations Only.
Chapter 50 - Public Utilities.
Article 3 - Acquisition, Operation, etc., of Sewers or Sewer Systems by Municipalities Generally.
Division 2 - Purchase of Sanitary Sewers or Sewer Systems and Assessments Therefor.
Section 11-50-70 - "Council" Defined.
Section 11-50-71 - Authorized.
Section 11-50-73 - Filing of Maps, Profiles, etc., in Office of Engineer for Public Inspection.
Section 11-50-76 - Publication of Ordinance or Resolution.
Section 11-50-78 - Payment of Portion of Costs of Purchase by Council; Costs of Purchase Specified.
Section 11-50-79 - Assessment of Cost of Sewers or Sewer System Against Abutting Lands Authorized.
Section 11-50-82 - Effect and Correction of Defects or Errors in Notice.
Section 11-50-83 - Filing of Written Objections, etc., to Proposed Assessments by Property Owners.
Section 11-50-84 - Hearing Upon Objections, etc., to Assessments.
Section 11-50-85 - Fixing of Amount of Assessments by Council and Effect Thereof.
Section 11-50-86 - Assignment and Transfer of Assessment Liens.
Section 11-50-87 - Enforcement of Assessment Liens in Circuit Court.
Section 11-50-88 - Effect of Enforcement of Tax Liens Upon Property Upon Assessment Liens.
Section 11-50-90 - Appeals From Assessments.
Section 11-50-91 - Payment of Assessments Generally.
Section 11-50-95 - Redemption of Property After Sale.
Section 11-50-96 - Issuance of Bonds to Pay for Sewers or Sewer System Authorized Generally.
Section 11-50-97 - Making of Loans and Issuance of Bonds to Pay for Sewers or Sewer System.
Section 11-50-98 - Form, Terms, Denominations, etc., of Bonds; Execution, Sale, etc., Thereof.
Section 11-50-99 - Disposition of Proceeds From Sale of Bonds.
Section 11-50-100 - Payment and Redemption of Bonds Generally.
Section 11-50-103 - Maintenance of Account and Disbursement of Proceeds From Assessments Generally.
Section 11-50-104 - Deposit of Assessment Proceeds in Bank; Manner of Withdrawal Thereof.
Section 11-50-105 - Use of Proceeds to Redeem Bonds and Coupons; Disposition of Excess.
Section 11-50-106 - Refunding of Excess Assessments - Authority and Procedure Generally.