Code of Alabama
Article 5 - Revenue Bonds for Waterworks, Gas, Sewer or Electric Systems.
Section 11-81-180 - Appointment of Receiver Upon Default in Payment of Principal and Interest on Bonds; Powers of Receiver.

If there shall be any default in the payment of the principal of or interest upon any bonds issued under this article, any court having jurisdiction in any proper civil action may appoint a receiver to administer and operate the system or systems out of the revenues from which such bonds are payable with power to fix and charge rates and collect revenues sufficient to provide for the payment of such bonds and any other obligations outstanding against said system or systems or the revenues therefrom and for the payment of the expenses of operating and maintaining such system or systems and with power to apply the income and revenues of said system or systems in conformity with this article and the authorizing proceedings and any trust indenture provided for therein.

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Structure Code of Alabama

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 5 - Revenue Bonds for Waterworks, Gas, Sewer or Electric Systems.

Section 11-81-160 - Definitions.

Section 11-81-161 - Acquisition, Extension, Repair, Consolidation, etc., of Waterworks, Sewer, Gas or Electric Systems by Counties or Municipalities Authorized.

Section 11-81-162 - Estimate of Cost of Acquisition, Extension, Repair, Consolidation, Etc.

Section 11-81-163 - Adoption, Amendment, Recordation, etc., of Ordinances or Resolutions for Issuance of Bonds, Segregation of Revenues, Etc.

Section 11-81-164 - Notice of Adoption of Authorization Proceedings for Issuance of Bonds; Limitation Period for Actions to Set Aside Authorization Proceedings, Restrain Issuance of Bonds, Etc.

Section 11-81-165 - Borrowing in Anticipation of Sale and Issuance of Bonds Authorized; Procedure Therefor.

Section 11-81-166 - Revenue Bonds - Authority for Issuance; Authorization Proceedings Generally; Form, Terms, Denominations, etc.; Execution and Delivery Generally; Maturity and Sale; Payment Generally; Trust Indentures.

Section 11-81-167 - Revenue Bonds - Execution and Delivery.

Section 11-81-168 - Revenue Bonds - Negotiability.

Section 11-81-169 - Revenue Bonds - Disposition of Proceeds From Sale - Generally.

Section 11-81-170 - Revenue Bonds - Disposition of Proceeds From Sale - Proceeds to Be Used Only for Purposes for Which Bonds Authorized; Excess Proceeds.

Section 11-81-171 - Revenue Bonds - Redemption.

Section 11-81-172 - Revenue Bonds - Exemption From Taxation.

Section 11-81-172.1 - Revenue Bonds - Issuance of Bonds for Refunding of Principal of General or Limited Obligation Warrants, Etc.

Section 11-81-173 - Issuance of Additional Bonds; Payment of Same.

Section 11-81-174 - Refunding Bonds.

Section 11-81-175 - Applicability of Limitations, etc., in Certain Other Provisions of Chapter as to Bonds Generally.

Section 11-81-176 - Elections and Publication of Ordinances, Resolutions, etc., Not Required for Issuance and Sale of Bonds.

Section 11-81-177 - Investment in Bonds by Executors, Trustees, Savings Banks, Etc.

Section 11-81-178 - Statutory Mortgage Lien of Bondholders - Creation Generally; Filing, Recordation, etc., of Notice Thereof.

Section 11-81-179 - Statutory Mortgage Lien of Bondholders - Duration; Enforcement.

Section 11-81-180 - Appointment of Receiver Upon Default in Payment of Principal and Interest on Bonds; Powers of Receiver.

Section 11-81-181 - Pledge of Revenues From Systems for Payment of Principal and Interest on Bonds; Disposition of Gross Revenues From Operation of System Generally.

Section 11-81-182 - Payment of Expenses of Operation or Maintenance of System Out of General Funds.

Section 11-81-183 - Designation of Depository; Disposition and Disbursement of Gross Revenue Account and Special Funds by Depository.

Section 11-81-184 - Establishment, etc., of Rates for Services Furnished by System.

Section 11-81-185 - Rates Not Subject to State Supervision or Regulation; Supervision, etc., of Operation, etc., of Sewer Systems by State Board of Health.

Section 11-81-186 - Payment by Counties, Municipalities, etc., for Services Furnished by System.

Section 11-81-187 - Determination as to Operation of System Upon Calendar, Operating or Fiscal Year Basis, Etc.

Section 11-81-188 - Maintenance of Books of Record and Accounts, Balance Sheets, etc., as to Properties, Financial Condition, etc., of System; Inspection and Examination of Same.

Section 11-81-189 - Impairment, etc., of Valid Liens or Contracts Not Authorized by Article.

Section 11-81-190 - Construction of Article.