At any time when no duties or obligations of the authority shall remain to be discharged, or when all duties and obligations remaining to be discharged have been effectively delegated to public corporations, agencies and departments of the state in accordance with Section 33-16-10, the authority may be dissolved upon the filing with the secretary of state of an application for dissolution, which shall be subscribed by each of the members of the authority, and which shall be sworn to by each such member before an officer authorized to take acknowledgments to deeds. Upon the filing of said application for dissolution, the authority shall cease and any property owned by it at the time of its dissolution shall pass to the state. The Secretary of State shall file and record the application for dissolution, in an appropriate book of record in his office, and shall make an issue, under the Great Seal of the State, a certificate that the authority is dissolved and shall record the same certificate with the application of dissolution.
Structure Code of Alabama
Title 33 - Navigation and Watercourses.
Chapter 16 - Coosa Valley Development Authority.
Section 33-16-1 - Definitions.
Section 33-16-2 - Legislative Intent; Construction of Chapter.
Section 33-16-3 - Authorization to Form Public Corporation.
Section 33-16-4 - Procedure for Incorporation.
Section 33-16-5 - Certificate of Incorporation; No Fees to Be Paid to Secretary of State.
Section 33-16-6 - Members, Officers and Directors; Records of Proceedings.
Section 33-16-7 - Duties and Obligations Which May Be Undertaken.
Section 33-16-8 - Powers Enumerated.
Section 33-16-11 - Construction, Maintenance, etc., of Terminals.
Section 33-16-12 - Bonds - Generally.
Section 33-16-13 - Bonds - Disposition of Proceeds; Investments.
Section 33-16-14 - Bonds - State Treasurer to Pay Principal and Interest of Bonds; Records.