Code of Alabama
Article 1 - General Provisions.
Section 11-81-25 - Sinking Fund Bonds - Powers of Trustee of Sinking Fund.

Any trustee of a sinking fund established under Sections 11-81-22 through 11-81-24 shall have power to invest in such manner and subject to such restrictions as may be prescribed in the ordinance or resolution establishing such sinking fund any moneys which it may receive as such trustee, pending the application of such moneys to the payment of such unmatured bonds, in any bonds of such city which are general obligations or in any direct general obligations of the United States.
Any such trustee shall have power and authority to proceed by civil action, mandamus or other appropriate proceeding to enforce and compel payment of any bonds issued to and placed with the sinking fund of which it shall be trustee.

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 1 - General Provisions.

Section 11-81-1 - Execution of Mortgages to Secure Bonds and Indebtedness Incurred in Purchase, Construction, Extension, etc., of School Buildings or Waterworks, Gas, Light, etc., Plants.

Section 11-81-2 - Execution of Mortgages or Deeds of Trust Upon Property Acquired, etc., With Proceeds of Bond Issues; Recordation of Same.

Section 11-81-3 - Issuance of Refunding or Funding Bonds as to Adjustment, etc., of Indebtedness.

Section 11-81-4 - Issuance of Refunding Interest-Bearing Certificates of Indebtedness, Warrants or Notes by Municipalities; Pledge of Tax, Revenues, etc., for Payment of Principal and Interest on Same.

Section 11-81-5 - Places of Payment.

Section 11-81-6 - Maturity and Payment - Generally.

Section 11-81-7 - Maturity and Payment - Bonds Issued and Sold in Series.

Section 11-81-8 - Estimate as to Period of Usefulness of Improvement or Property for Which Bonds Issued.

Section 11-81-9 - Form; Appointment of Registrar and Provision for Registration and Transfer.

Section 11-81-10 - Sale Price.

Section 11-81-11 - Sale.

Section 11-81-12 - Determination of Highest Bidder.

Section 11-81-13 - Disposition of Proceeds From Sale.

Section 11-81-14 - Presumption as to Validity of Issuance, Sale, etc.; Limitation Period for Actions to Contest Validity Thereof.

Section 11-81-15 - Levy, Collection and Disposition of Special Tax for Payment of Principal and Interest on Bonds and Sinking Fund Payments.

Section 11-81-16 - Pledge of Revenues From Certain Taxes, Utilities, etc., for Payment of Principal and Interest on Bonds.

Section 11-81-17 - Pledge of Revenues From Waterworks System to Secure Payment of Bonds.

Section 11-81-18 - Pledge of Revenues From License, Privilege, or Excise Taxes for Payment of Principal and Interest on Bonds.

Section 11-81-19 - Investment of Sinking Funds Generally; Reports as to Investment or Deposit of Sinking Funds; Contracts for Purchase of Savings Certificates.

Section 11-81-20 - Investment of Funds Received to Credit of Sinking Fund.

Section 11-81-21 - Investment of Funds Obligation in Which Sinking Funds May Be Invested.

Section 11-81-22 - Sinking Fund Bonds - Issuance, Etc.

Section 11-81-23 - Sinking Fund Bonds - Designation; Maturity and Interest; Disposition.

Section 11-81-24 - Sinking Fund Bonds - Creation of Sinking Fund; Employment and Duties of Trustee of Sinking Fund.

Section 11-81-25 - Sinking Fund Bonds - Powers of Trustee of Sinking Fund.

Section 11-81-26 - Mandamus Proceedings.

Section 11-81-27 - Mortgages of Public Property for Payment of Debts.

Section 11-81-28 - Issuance, Sale, etc., of Negotiable Notes in Anticipation of Sale of Bonds.

Section 11-81-29 - Bonds and Interest Coupons Exempt From Taxation.

Section 11-81-30 - Irregularities in Proceedings for Issuance, etc., Not to Affect Validity of Bonds; Properties, etc., of Bonds.

Section 11-81-31 - Ratification of Certain Irregular Elections for Issuance of Bonds.

Section 11-81-32 - Issuance of Duplicates for Lost, Mutilated or Destroyed Bonds.

Section 11-81-33 - Execution of Bonds, etc., With Engraved or Otherwise Reproduced Facsimile of Signature, Seal or Other Means of Authentication, Etc.