An authority may be organized pursuant to the provisions of this chapter. In order to incorporate such a public corporation, any number of natural persons, not less than three, who are duly qualified electors of the city, shall first file a written application with the governing body of the city, which application shall:
(1) Contain a statement that the applicants propose to incorporate the authority pursuant to the provisions of this chapter;
(2) State the proposed location of the principal office of the authority, which shall be within the corporate limits of the city; and
(3) State that each of the applicants is a duly qualified elector of the city; and
(4) Request that the governing body of the city adopt a resolution declaring that it is wise, expedient, and necessary that the proposed authority be formed and authorizing the applicants to proceed to form the proposed authority by the filing for record of a certificate of incorporation in accordance with the provisions of Section 11-54A-5 hereof.
Every such application shall be accompanied by such supporting documents or evidence as the applicants may consider appropriate. As promptly as may be practicable after the filing of the application with it in accordance with the provisions of this section, the governing body of the city shall review the contents of the application, and shall adopt a resolution either (1) denying the application or (2) declaring that it is wise, expedient, and necessary that the proposed authority be formed and authorizing the applicants to proceed to form the proposed authority by filing for record of a certificate of incorporation in accordance with the provisions of Section 11-54A-5. The governing body with which the application is filed shall also cause a copy of the application to be spread upon or otherwise made a part of the minutes of the meeting of such governing body at which final action upon said application is taken.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 2 - Provisions Applicable to Municipal Corporations Only.
Chapter 54A - Downtown Redevelopment Authorities.
Section 11-54A-1 - Legislative Intent.
Section 11-54A-2 - Definitions.
Section 11-54A-3 - Use of Phrases.
Section 11-54A-4 - Filing of Application; Authorization of Incorporation by Governing Body of City.
Section 11-54A-5 - Procedure to Incorporate; Contents and Execution of Certificate of Incorporation.
Section 11-54A-6 - Amendments to Certificate of Incorporation; Procedure.
Section 11-54A-7 - Board of Directors; Election, Terms, Eligibility, Etc.
Section 11-54A-8 - Officers of Authority.
Section 11-54A-9 - Powers of Authority; All Projects to Be in Development Area.
Section 11-54A-10 - Bonds of Authority.
Section 11-54A-11 - Proceeds From Sale of Bonds.
Section 11-54A-12 - Refunding Bonds.
Section 11-54A-13 - Notice of Bond Resolution; 30 Days to Bring Action to Question Bond Validity.
Section 11-54A-14 - Exemption From Taxation.
Section 11-54A-15 - Liability of City.
Section 11-54A-16 - Exemption From Usury and Interest Laws.
Section 11-54A-17 - Compliance With Competitive Bid Laws.
Section 11-54A-18 - Freedom of Authority From State Supervision and Control.
Section 11-54A-19 - Earnings of Authority.
Section 11-54A-20 - Dissolution of Corporation and Vesting of Title to Property in City.
Section 11-54A-21 - Existence of Authority to Prevent Incorporation of Another by City.
Section 11-54A-23 - Provisions Cumulative.