At any time when the amount of any particular fund shall, with its accumulations, equal the amount of any one of the outstanding bonds and accrued interest entitled to payment out of such fund, the governing body of such municipality shall have authority to redeem any and all such bonds that may be presented for redemption at such times thereafter as the holders thereof may desire to present the same for redemption.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 3 - Provisions Applicable to Counties and Municipal Corporations.
Chapter 81 - Municipal and County Bonds.
Article 4 - Public Improvement Bonds.
Section 11-81-111 - Maturity and Payment; Sale or Delivery in Payment for Work.
Section 11-81-112 - Disposition of Proceeds From Sale.
Section 11-81-113 - Grouping of Improvements for Issuance of Bonds.
Section 11-81-116 - Redemption of Bonds.
Section 11-81-117 - Refunding of Excess Assessments - Authority and Procedure Generally.
Section 11-81-119 - Settlement, Adjustment or Refunding of Bonds.
Section 11-81-120 - Sale or Issuance to Custodian of Special Fund, etc., of Refunding Bonds.
Section 11-81-121 - Consolidation of Separate Outstanding Issues for Issuance of Refunding Bonds.
Section 11-81-122 - Maintenance and Disposition of Sinking Fund Accounts for Refunding Bond Issues.
Section 11-81-123 - Liability, etc., Upon Bonds, etc., When Municipalities Consolidated.