Each corporation organized under this article or the articles of incorporation of which are amended under this article may, if it so elects, combine and consolidate any of its systems (whether water, sewer, gas, or electric) with any one or more of its other systems (whether water, sewer, gas, or electric) and provide for the operation, maintenance, and repair of the systems so consolidated as one combined and consolidated system, the keeping of books and records for one combined system and the borrowing of money for any purpose authorized by law and the issuance of revenue bonds payable from the revenues of the combined system, or such corporation may keep and operate any one or all of its systems separate from its other systems. One combination and consolidation of systems shall not prevent other combinations and consolidations of other systems or the combination and consolidation of another system or systems with said consolidated system.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 2 - Provisions Applicable to Municipal Corporations Only.
Chapter 50 - Public Utilities.
Article 9 - Boards for Operation of Water, Sewer, Gas and Electric Systems.
Section 11-50-310 - Definitions.
Section 11-50-313 - Board of Directors.
Section 11-50-315 - Execution, etc., of Contracts as Security for Repayment of Moneys Borrowed.
Section 11-50-317 - Pledge of Revenues From and Mortgaging of Systems for Payment of Bonds.
Section 11-50-318 - Disposition of Proceeds From Sale of Bonds.
Section 11-50-319 - Exemption From Usury and Interest Statutes.