The Legislature makes the following statements and findings:
(1) Cities have hundreds of miles of roads and streets located in subdivisions that are in need of upgrades or additions. These upgrades or additions are behind schedule and at the current rate will take considerably more years to complete, if ever. These upgrades or additions include, but are not limited to, sanitary sewer, drainage, curb and gutter, sidewalk, underground power, and asphalt overlaying.
(2) Homeowners and business owners would benefit from the voluntary formation of neighborhood infrastructure authorities to oversee and finance infrastructure projects through an assessment basis.
(3) An effective neighborhood infrastructure program would have the following benefits:
a. Jobs would be created.
b. Property values would be stabilized and/or increased.
c. Upgrade and additional work would be expedited.
d. Savings would be created for the city.
e. Revenues would be created for city, state, and federal governments.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 2 - Provisions Applicable to Municipal Corporations Only.
Chapter 71 - The Neighborhood Infrastructure Incentive Plan Act of 2011.
Section 11-71-1 - Legislative Findings.
Section 11-71-2 - Short Title; Definitions.
Section 11-71-3 - Creation of Neighborhood Infrastructure Authority.
Section 11-71-4 - Powers of Authority.
Section 11-71-5 - Liability; Civil Actions.
Section 11-71-6 - Terms of Office; Vacancies.
Section 11-71-7 - Contracts; Funding.
Section 11-71-8 - Refunding of Excess Funds.
Section 11-71-9 - Dedication of Facilities and Projects.
Section 11-71-10 - Dissolution and Liquidation of Authority.