Code of Alabama
Chapter 7 - Improvement Authorities.
Section 39-7-24 - Liability on Bonds and Other Obligations of Authority.

The bonds and other obligations of an authority incorporated under this chapter shall not be a debt of the State of Alabama nor a debt of the municipality and neither the state nor the municipality shall be liable in any way whatsoever thereon nor may the holder of any such bonds or obligations compel the levy of any taxes for its payment. Said bonds shall not be payable out of any funds other than those of the authority issuing the same and each bond shall contain a recital to that effect. Neither the members of the board of trustees nor any person executing said bonds shall be liable personally on said bonds by reason of the issuance thereof.

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Structure Code of Alabama

Code of Alabama

Title 39 - Public Works.

Chapter 7 - Improvement Authorities.

Section 39-7-1 - Definitions.

Section 39-7-2 - Authorization for Incorporation Generally.

Section 39-7-3 - Filing of Petition for Election as to Incorporation.

Section 39-7-4 - Form and Verification of Petition.

Section 39-7-5 - Summary Proceedings for Review, etc., of Sufficiency of Petition.

Section 39-7-6 - Publication of Notice of Filing of Petition and of Question to Be Submitted to Voters at Election.

Section 39-7-7 - Submission of Question Proposed by Petition to Voters at General Election.

Section 39-7-8 - Holding of Special Election for Submission of Question to Voters; Provisions of Law Governing Conduct of Such Elections; Payment of Expenses of Elections.

Section 39-7-9 - Contents and Form of Election Ballot.

Section 39-7-10 - Adoption of Resolution Setting Forth Question Submitted and Votes Cast; Declaration of Incorporation of Improvement Authority.

Section 39-7-11 - When Authority Deemed Incorporated; Transmission of Certified Copy of Resolution, etc., to Secretary of State; Secretary of State to Furnish Statement of Names, etc., of Authorities Incorporated to Department of Finance; Publication...

Section 39-7-12 - Authority to Be Public Corporation; Exercise of Powers of Authority.

Section 39-7-13 - Purpose and Powers of Authority Generally; Sale, Transfer and Conveyance of Entire Water System to Public Corporation Authorized to Conduct Business of Water Distribution System.

Section 39-7-14 - Board of Trustees of Authority - Composition; Appointment, Removal and Terms of Office of Members; Vacancies.

Section 39-7-15 - Board of Trustees of Authority - Members Not to Hold Public Office Under Municipality.

Section 39-7-16 - Board of Trustees of Authority - Organization Meeting; Selection of Officers.

Section 39-7-17 - Board of Trustees of Authority - Compensation; Delegation of Powers and Duties to Employees, Etc.

Section 39-7-18 - Board of Trustees of Authority - Powers Generally.

Section 39-7-19 - Transfer of Supervision, Possession, Control, etc., of Property, Rights, Books, Papers, etc., of Plant or System Owned by Municipality to Authority Generally; Continuation in Effect of Provisions of Law as to Powers and Duties of Mu...

Section 39-7-20 - Transfer of Municipal Officers and Employees to Authority.

Section 39-7-21 - Obligations of Contracts of Municipality Not to Be Impaired; Payment of Notes, Bonds or Other Obligations Issued by Municipality; Assumption of Municipal Contracts as to Plant or System by Authority.

Section 39-7-22 - Powers Generally; Consent of Department of Finance Required for Issuance or Sale of Bonds or Other Evidence of Indebtedness by Authority.

Section 39-7-23 - Authorization for Issuance of Bonds by Authority; Terms, Denominations, Sale, Redemption, etc., of Bonds; Issuance of Interim Receipts, Certificates, Etc.

Section 39-7-24 - Liability on Bonds and Other Obligations of Authority.

Section 39-7-25 - Rights and Remedies of Bondholders.

Section 39-7-26 - Pledge as to Alteration, Impairment, etc., of Certain Rights and Powers of Authorities and Rights and Remedies of Bondholders by State.

Section 39-7-27 - Disposition of Moneys of Authority.

Section 39-7-28 - Examinations of Accounts and Books of Authority; Copy of Examination to Be Furnished to Board of Trustees; Publication of Statement and Analysis of Financial Standing of Authority; Special Audit and Examination of Books and Accounts...

Section 39-7-29 - Authorization and Procedure for Enlarging of Services Furnished by Authority.

Section 39-7-30 - Authorization and Procedure for Diminishing of Services Furnished by Authority.

Section 39-7-31 - Limitation as to Number of Special Elections for Incorporating Authority or Enlarging or Diminishing Services Furnished by Authority.

Section 39-7-32 - Furnishing of Services Outside Boundaries of Municipality by Authority.

Section 39-7-33 - Purpose of Chapter; Chapter Exclusive as to Franchises, Licenses, Permits, etc., for Authorities.

Section 39-7-34 - Provisions of Chapter Exclusive as to Matters Covered by Chapter.