There shall be an annual audit by a certified public accountant or other disinterested public accountant of every municipality having according to the most recent federal census as much or more than a population of 2,000 and an audit biennially for municipalities with a population of less than 2,000 according to the most recent federal census. Said audit shall describe in detail each bond issue outstanding and shall disclose the provision made for payment thereof. In the case of assessment bonds it shall show the amount of assessments 12 months or more past due pledged for the payment of each series of bonds and the amount of all other assessments and the estimated deficit, if any, to be paid out of the general revenues of the municipality. One copy of such audit shall be filed with the clerk of the municipality.
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 2 - Municipal Bonds Generally.
Section 11-81-50 - Municipality Defined.
Section 11-81-51 - Purposes for Which Bonds May Be Issued.
Section 11-81-52 - Ordering of Election for Determination as to Issuance of Bonds.
Section 11-81-53 - Notice of Election.
Section 11-81-55 - Conduct of Election Generally.
Section 11-81-56 - Expenses of Election; Compensation of Managers, Clerks, and Returning Officers.
Section 11-81-57 - Board of Canvassers.
Section 11-81-58 - Recordation of Election Results.
Section 11-81-59 - Election Contest - Authorized; Bond Required.
Section 11-81-60 - Election Contest - Notice and Hearing.
Section 11-81-61 - Election Contest - Limitation of Action.
Section 11-81-62 - Issuance of Bonds.
Section 11-81-63 - Execution and Delivery of Bonds.
Section 11-81-65 - Bonds for Refunding or Funding of Bonds Outstanding - Security.
Section 11-81-66 - Bonds and Coupons Receivable for Payment of Taxes and Dues.