(a) Within ninety (90) days after the close of each fiscal year, the district management corporation shall make an annual report of its activities for the preceding fiscal year to the governing body of the municipality.
(b) Within ninety (90) days after the close of each fiscal year, the district management corporation shall cause an annual audit of its books, accounts, and financial transactions to be made and filed with the governing body of the municipality and for that purpose the corporation shall employ a certified public accountant. The annual audit shall be completed and filed with the governing body within four months after the close of the fiscal year of the corporation and a certified duplicate copy of the audit shall be filed with the mayor and the finance director or other financial control officer of the municipality.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 2 - Provisions Applicable to Municipal Corporations Only.
Chapter 54B - Self-Help Business Improvement Districts.
Article 1 - General Provisions.
Section 11-54B-1 - Legislative Findings.
Section 11-54B-2 - Definitions.
Section 11-54B-3 - Development and Maintenance of Self-Help Business Improvement Districts.
Section 11-54B-5 - Requirements of Request for Creation of Self-Help Business Improvement District.
Section 11-54B-6 - Mailing of Proposed Ordinance and Notice of Hearing.
Section 11-54B-7 - Review of Self-Help Business Improvement District Plan and Adoption of Ordinance.
Section 11-54B-8 - Costs of Supplemental Services; Assessment of Classes; Exemptions.
Section 11-54B-10 - Amendment of Self-Help Business Improvement District Ordinance.
Section 11-54B-11 - District Management Corporation Limits, Powers, and Duties.
Section 11-54B-12 - Annual Budget of District Management Corporation.
Section 11-54B-13 - Retention of Municipal Police Powers.
Section 11-54B-14 - Eminent Domain Utilization.
Section 11-54B-15 - Furniture, Structure of Facility Not Deemed Nuisance.
Section 11-54B-16 - District Management Corporation Contracts.
Section 11-54B-17 - Operation in Other Designated Project Areas.
Section 11-54B-18 - Annual Reports and Audits.
Section 11-54B-19 - Continuation, Modification, or Termination of District.
Section 11-54B-20 - Tax Exemption.
Section 11-54B-22 - Merger of Business Improvement Districts.