Following the completion of the acquisition, construction, or installation of the projects, if there are excess funds from assessments, after fully funding all reserves and contingency funds, the excess funds shall be refunded in a manner determined to be equitable by the board, or as otherwise provided in the board's proceedings with respect to its bylaws.
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.