When no bonds of the authority are outstanding, the authority may be dissolved upon the filing with the judge of probate, in the county in which is filed the certificate of incorporation, an application for dissolution. The application for dissolution shall be subscribed by each member of the board and sworn to by each member before an officer authorized to take acknowledgments to deeds. Upon the filing of an application for dissolution, the authority shall cease to exist. The judge of probate shall receive and record the application for dissolution in an appropriate book of record in his or her office. Upon dissolution, all rights, title, and interest of the authority in property shall be vested in the municipality.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 2 - Provisions Applicable to Municipal Corporations Only.
Chapter 61A - Municipal Parking Authority.
Section 11-61A-1 - Declarations.
Section 11-61A-2 - Definitions.
Section 11-61A-3 - Application for Permission to Incorporate.
Section 11-61A-4 - Certificate of Incorporation.
Section 11-61A-5 - Attachments to Certificate.
Section 11-61A-6 - Changes and Amendments.
Section 11-61A-7 - Board of Directors.
Section 11-61A-10 - Operation of the Facility.
Section 11-61A-12 - Permitted Activities.
Section 11-61A-14 - Signature on Bonds.
Section 11-61A-15 - Issuance of Bonds.
Section 11-61A-16 - Proceeds From Sale of Bonds.
Section 11-61A-17 - Refunding Bonds.
Section 11-61A-18 - Tax Exemption.
Section 11-61A-19 - Investment by Governing Body.
Section 11-61A-20 - Bonds Deemed Legal Investment.
Section 11-61A-21 - Publication of Notice.
Section 11-61A-22 - Advertising and Award Laws Are Applicable.