In addition to any other powers conferred by law, each municipality and county in the state shall have and may exercise any powers necessary and convenient to carry out the purposes of this chapter, including the power to:
(1) Create tax increment districts and to define the boundaries thereof;
(2) Cause project plans to be prepared, to approve plans, and to implement the provisions and effectuate the purposes of project plans;
(3) Issue tax increment obligations;
(4) Deposit moneys into the tax increment fund for any tax increment district; and
(5) Enter into any covenants, contracts, or agreements, including conditions, restrictions, or covenants which either run with the land or otherwise regulate the use of the land and any covenants, contracts, and agreements with or for the benefit of holders of tax increment obligations, determined by the local governing body to be necessary or convenient to implement the provisions and effectuate the purposes of project plans.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 3 - Provisions Applicable to Counties and Municipal Corporations.
Chapter 99 - Tax Increment Districts.
Section 11-99-1 - Legislative Findings and Declarations.
Section 11-99-2 - Definitions.
Section 11-99-3 - Powers of Municipalities and Counties.
Section 11-99-4 - Creation of Tax Increment Districts and Approval of Project Plans.
Section 11-99-7 - Termination of Tax Increment Districts.
Section 11-99-8 - Financing of Project Costs.
Section 11-99-9 - Overlapping Tax Increment Districts.
Section 11-99-10 - Equalized Valuation for Apportionment of Property Taxes.