When all bonds issued by the authority and all obligations made or assumed by it under the provisions of this chapter shall have been paid in full, the then officers and directors of the authority shall at such time file with the Secretary of State a written statement, subscribed and sworn to by each of them, reciting the payment in full of all such bonds and obligations. Such statement shall be filed with the Secretary of State and recorded with the certificate of incorporation of the authority, and thereupon, the authority shall stand dissolved. Any property owned by the authority but leased to a local public body shall become the property of such local public body and any property owned by the authority and not leased to any local public body shall become the property of the state.
Structure Code of Alabama
Title 22 - Health, Mental Health, and Environmental Control.
Title 1 - Health and Environmental Control Generally.
Chapter 29 - Pollution Control Finance Authority.
Section 22-29-1 - Definitions.
Section 22-29-2 - Purpose of Chapter.
Section 22-29-3 - Incorporation - Authorized.
Section 22-29-4 - Incorporation - Application.
Section 22-29-5 - Incorporation - Certificate of Incorporation.
Section 22-29-6 - Members, Officers and Directors; Quorum; Resolutions and Orders.
Section 22-29-8 - Bonds - Authorization to Issue and Sell; Security for Payment.
Section 22-29-9 - Bonds - Procedure for Sale.
Section 22-29-10 - Bonds - Presumption of Validity; Contest of Validity.
Section 22-29-11 - Temporary Financing.
Section 22-29-12 - Refunding Bonds.
Section 22-29-13 - Execution of Bonds, Certificates and Promissory Notes.
Section 22-29-14 - Bonds and Coupons Deemed Negotiable Instruments.
Section 22-29-15 - Bonds, Notes and Certificates Not Debt of State.
Section 22-29-16 - Custody of Moneys and Funds; Disposition of Same.
Section 22-29-17 - Grants to Local Public Bodies - Authorized.
Section 22-29-18 - Grants to Local Public Bodies - Appropriations.
Section 22-29-19 - Grants to Local Public Bodies - Applications.
Section 22-29-20 - Grants to Local Public Bodies - Plan or Program.
Section 22-29-21 - Grants to Local Public Bodies - Powers of Local Public Bodies.