The council may borrow money on the faith and credit of the city or town, executing the note of the city or town therefor and pledging as security for such loan the proceeds of the proposed assessments thereafter to be made as provided in this division, and such sum or sums so borrowed the council may advance in payment or part payment of the cost of such sewer or sewers or sewer system; and, upon the expiration of 30 days after the assessment for the cost of the same shall have been made final, the council may then issue and sell bonds for such amount as may be necessary, after deducting the amount paid by property owners, to pay the cost of such sewers or sewer system, including such amounts as may have been borrowed for the purpose, and all interest and other expenses incurred in and about the purchase of the same. The council may provide in its contract with the owner or owners of the sewer, sewers or sewer system that such bonds are to be received in payment of the purchase price of such sewers or sewer system and, in such case, upon the expiration of 30 days after the assessment of the cost of the same, the council may, by resolution or ordinance, authorize the delivery of the bonds to said owner or owners in accordance with said contract.
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.