In exercising the powers conferred by Sections 11-81-119 and 11-81-120, it shall not be necessary to make a separate issue of refunding bonds with respect to each outstanding issue, but two or more of such outstanding issues or portions thereof may be grouped together in a single refunding issue, in which event all assessments thereafter collected with respect to any of the improvements financed by the separate issues or the proper proportionate part thereof shall be applicable to the payment of such refunding bonds.
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.