Code of Alabama
Article 2 - Construction of Sewage Treatment or Disposal Plants, etc., in Resort Areas by Authorities.
Section 11-88-107 - Bond of Official Charged With Duty of Collecting Assessments; Liability of Said Official and Board Members for Diversion or Misappropriation of Funds for Payment of Bonds and Coupons.

The official charged with the duty of collecting assessments shall be required to give bond, including the amount of any official bond which may have been required of him by law, equal to not less than five percent of the total amount in the said sinking funds provided for in Section 11-88-106 and the said bond shall be increased and may be diminished from time to time in order to comply with this provision. The cost of the said increased bond shall be paid by the authority.
The said official shall be liable on his official bond to any holder of the bonds authorized to be issued under this article for any loss or injury to such holder caused by the diversion by the said officer of any fund or part thereof to the payment of any indebtedness of the authority other than the bonds and interest coupons issued under this article and indebtedness authorized by this article to be paid out of the said fund or caused by the use or misappropriation by the said officer of any part of the funds out of which the said bonds and coupons are to be paid for any other purpose than as provided for in this article or for the benefit of the authority or others. All members of the board who shall, by their vote or in any other manner, cause, aid, or encourage any such diversion, use, or misappropriation of the funds out of which the bondholders are entitled to be paid for any other purposes than those authorized and required in this article, whereby loss or injury to the bondholders or any of them is caused, shall be jointly and severally liable to such bondholders injured to the extent of such loss or injury.
Any failure by any of the above officials to keep all funds collected from assessments in sinking funds in the bank or banks as provided in this article or to retire bonds when due out of such funds when available shall be construed as a diversion or misappropriation and any bond holder of a bond in the series affected may at any time institute a civil action against the said official or officials in any court of competent jurisdiction for the satisfaction of such loss and injury.

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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 88 - Water, Sewer and Fire Protection Authorities.

Article 2 - Construction of Sewage Treatment or Disposal Plants, etc., in Resort Areas by Authorities.

Section 11-88-40 - Definitions.

Section 11-88-41 - Legislative Findings and Declarations; Powers Granted Authorities by Article to Be Exercised Only in Resort Areas and With the Consent of County Governing Bodies.

Section 11-88-42 - Powers of Authorities Generally.

Section 11-88-43 - Adoption of Resolution by Board Describing Improvement, Property Benefited, etc., and Directing Drawing, etc., of Details, Drawings, Plans, Etc.

Section 11-88-44 - Filing of Details, Drawings, Plans, etc., for Examination by Property Owners; Appointment of Date for Hearing of Objections as to Improvement, Etc.

Section 11-88-45 - Publication of Resolution and Mailing of Copies Thereof to Persons Last Assessed for Taxation on Property Which May Be Assessed for Improvement.

Section 11-88-46 - Hearing Upon Objections to Improvement, etc.; Confirmation, Amendment, Rescission, etc., of Resolution by Board; When Unanimous Vote of Board Required to Approve Resolution.

Section 11-88-47 - Publication of Notice for Bids; Letting of Contract; Requirement of Bonds, etc., From Bidders, etc.; Construction of Improvement, Furnishing of Labor, etc., by Authority.

Section 11-88-48 - Supervision of Work.

Section 11-88-49 - Acceptance or Rejection of Work.

Section 11-88-50 - Payment of Cost of Improvement by Board; Specification of Cost of Improvement.

Section 11-88-51 - Levy of Assessments for Cost of Improvement on Abutting or Benefited Property Authorized.

Section 11-88-52 - Manner of Assessment Generally; Limitation as to Amount of Assessment.

Section 11-88-53 - Preparation of List of Property Owners Proposed to Be Assessed for Improvement.

Section 11-88-54 - Entry of List in Assessment Book of Improvements; Contents and Status Thereof.

Section 11-88-55 - Publication of Notice as to Assessment Book.

Section 11-88-56 - Filing of Written Objections or Defenses to Proposed Assessments; Effect of Failure to File Same.

Section 11-88-57 - Hearing of Objections and Defenses to Proposed Assessments by Board Generally.

Section 11-88-58 - Subpoena, etc., of Witnesses by Board.

Section 11-88-59 - Board to Hear and Pass Upon Objections to Proposed Assessments.

Section 11-88-60 - Fixing of Amount of Assessment by Board; Assessment to Constitute Lien on Property Against Which Levied; Reduction or Abatement of Final Assessment by Board Generally.

Section 11-88-61 - Effect of Defects in Notice or Proceedings; Supplementary Proceedings for Correction of Defects.

Section 11-88-62 - Reduction or Abatement of Assessments by Board.

Section 11-88-63 - Transfer and Assignment of Liens by Authorities.

Section 11-88-64 - Enforcement of Liens by Circuit Courts; Amounts Recovered in Civil Actions to Enforce Liens.

Section 11-88-65 - Enforcement of Lien on Property for State, County, etc., Taxes Not to Discharge or Affect Lien of Authority for Assessment; Duration of Liens.

Section 11-88-66 - Effect of Enforcement of Assessment Lien Upon Other Improvement Assessment Liens on Property.

Section 11-88-67 - Appeal From Assessments to Circuit Court - Authorization and Procedure Generally.

Section 11-88-68 - Appeal From Assessments to Circuit Court - Establishment of Amount of Appeal Bond and Approval of Sureties Thereon; Conditions of Bond.

Section 11-88-69 - Appeal From Assessments to Circuit Court - Entry of Appeal on Trial Docket.

Section 11-88-70 - Appeal From Assessments to Circuit Court - Transmittal to Circuit Court of Transcript of Proceedings of Authority as to Assessment; Contents Thereof.

Section 11-88-71 - Appeal From Assessments to Circuit Court - Transcript Deemed Prima Facie Evidence of Correctness of Assessment, Etc.

Section 11-88-72 - Appeal From Assessments to Circuit Court - Conduct of Trial Generally; When Costs of Appeal and Trial Adjudged Against Authority.

Section 11-88-73 - Appeal From Assessments to Circuit Court - Entry of Judgment for Amount Properly Chargeable Against Land Where Assessment Defective; Payment of Costs.

Section 11-88-74 - Appeal From Judgment of Circuit Court to Supreme Court - by Property Owner - Authorization and Procedure Generally.

Section 11-88-75 - Appeal From Judgment of Circuit Court to Supreme Court - by Property Owner - Appeal to Be Heard on Record.

Section 11-88-76 - Appeal From Judgment of Circuit Court to Supreme Court - by Property Owner - Addition by Supreme Court of Interest and Damages to Judgment of Circuit Court Upon Affirmance.

Section 11-88-77 - Appeal From Judgment of Circuit Court to Supreme Court - by Authority.

Section 11-88-78 - Issuance of Execution on Appeal Bond and Sale of Property Assessed When Final Judgment Entered in Favor of Authority.

Section 11-88-79 - Manner of Payment of Assessments Generally.

Section 11-88-80 - Entire Assessment Due and Payable Upon Default in Payment of Assessment or Installments Thereof; Advertisement and Sale of Property Assessed for Improvement Generally.

Section 11-88-81 - Defaulting Property Owner May Pay Assessment, etc., Prior to Sale.

Section 11-88-82 - Cost of Advertisement and Sale to Constitute Charge Against Property to Be Sold.

Section 11-88-83 - Officer Making Sale to Execute Deed to Purchaser; Rights, Title, etc., Conveyed to Purchaser by Deed; Disposition of Surplus Proceeds From Sale; Purchase of Property by Board.

Section 11-88-84 - Effect of Mistakes in Advertisement or Sale; Supplementary Proceedings for Correction of Errors; Enforcement of Lien by Purchaser.

Section 11-88-85 - Redemption of Property After Sale - Authorization and Procedure Generally.

Section 11-88-86 - Redemption of Property After Sale - Extension of Redemption Period.

Section 11-88-87 - Redemption of Property After Sale - Application for Entry in Record of Deeds of Certificate of Warning to Redeem; Form of Certificate.

Section 11-88-88 - Redemption of Property After Sale - Applicant to Deliver Copies of Improvement Assessment Sale Deed to Probate Judge; Examination, etc., of Deeds, etc., by Probate Judge; Mailing of Copies of Deed and Warning to Redeem to Persons L...

Section 11-88-89 - Redemption of Property After Sale - Performance of Duties of Probate Judge; Liability of Probate Judge for Errors or Mistakes in Performance of Duties.

Section 11-88-90 - Redemption of Property After Sale - Redemption During Extended Redemption Period.

Section 11-88-91 - Execution of Short Term Notes or Issuance of Bonds by Authority Prior to Letting of Contract or During Progress of Work on Improvement Generally.

Section 11-88-92 - Issuance of Bonds by Authority After Completion of Work on Improvement.

Section 11-88-93 - Consolidation of Improvements for Issuance of Bonds.

Section 11-88-94 - Form, Terms, Denominations, etc., of Notes Issued Under Article; Sale, Exchange, etc., Generally; Sale Price; Applicability of Certain Other Provisions of Law.

Section 11-88-95 - Notice of and Sale or Exchange of Bonds.

Section 11-88-96 - Determination of Highest Bidder for Bonds.

Section 11-88-97 - Disposition of Proceeds From Sale of Bonds.

Section 11-88-98 - Bonds Containing Recital as to Issuance Under Article Deemed to Have Been Issued, Sold, etc., in Conformity With Same; Limitation Period for Actions or Proceedings as to Issuance of Bonds.

Section 11-88-99 - Irregularities in Proceedings Authorizing Issuance of Bonds or Neglect, etc., of Duties by Officers Not to Affect Validity of Bonds; Bonds to Have Properties and Protection of Commercial Paper.

Section 11-88-100 - Exemption From Taxation of Bonds, Notes, Etc.

Section 11-88-101 - Replacement of Lost, Mutilated, or Destroyed Bonds.

Section 11-88-102 - Authorization and Procedure Generally for Settlement, Adjustment, or Refunding of Bonds.

Section 11-88-103 - Procedure Where Special Fund Used by Authority in Taking Up Bonds or Coupons Representing Principal at Maturity.

Section 11-88-104 - Consolidation of Outstanding Bond Issues for Refunding; Disposition of Assessments Collected for Improvements Financed by Said Outstanding Issues Generally.

Section 11-88-105 - Separate Sinking Fund Accounts to Be Maintained for Refunding Bond Issues; Disposition of Same.

Section 11-88-106 - Maintenance of Sinking Fund Accounts by Official Charged With Duty of Collecting Assessments; Institution of Mandamus Proceedings Against Officer Failing to Maintain Separate Sinking Fund Accounts, Pay Bonds or Interest Thereon, E...

Section 11-88-107 - Bond of Official Charged With Duty of Collecting Assessments; Liability of Said Official and Board Members for Diversion or Misappropriation of Funds for Payment of Bonds and Coupons.

Section 11-88-108 - Redemption of Bonds.

Section 11-88-109 - Refunding of Excess Amounts Collected From Assessments Upon Demand Therefor; Limitation Period for Claims for Refunds; Disposition of Unclaimed Amounts.

Section 11-88-110 - Acquisition of Lands by Authority.

Section 11-88-111 - Effect of Annexation or Incorporation of Area in Which Assessments for Improvement Made Upon Assessments, Liens, Bonds, Etc.