(a) It is the intent of the Legislature by the passage of this article to authorize municipalities to acquire, own, and lease and, in connection with any such acquisition, to enlarge, improve, and expand projects for the purpose of promoting industry and trade and controlling, abating, or preventing pollution (including preventing pollution which may be caused by the location, development, or expansion of industry or commerce) by inducing manufacturing, industrial, commercial, and research enterprises to locate in this state or to expand and enlarge existing enterprises or to utilize pollution control facilities in order to control, abate, or prevent pollution from present or proposed operations or by any combination of two or more thereof promoting the use of agricultural products and natural resources of this state and promoting a sound and proper balance in this state between agriculture, commerce, and industry. It is intended that each project be self-liquidating. It is not intended hereby to authorize any municipality itself to operate any manufacturing, industrial, or commercial enterprise.
(b) This article shall be liberally construed in conformity with the said intent.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 2 - Provisions Applicable to Municipal Corporations Only.
Chapter 54 - Promotion of Industry, Trade, Commerce and Pollution Control.
Section 11-54-20 - Definitions.
Section 11-54-21 - Legislative Intent; Construction of Article Generally.
Section 11-54-23 - Requirements as to Leasing of Projects.
Section 11-54-25 - Bonds - Security for Payment of Principal and Interest; Remedies Upon Default.
Section 11-54-26 - Bonds - Disposition of Proceeds From Sale.
Section 11-54-27 - Refunding Bonds.
Section 11-54-29 - Investment in Bonds by Savings Banks and Insurance Companies.
Section 11-54-31 - Exemption From Taxation of Projects, Bonds, Etc.