At any time when the authority has no bonds or other obligations outstanding, its board may adopt a resolution, which shall be duly entered upon its minutes, declaring that the authority shall be dissolved. Upon filing for record of a certified copy of the resolution in the office for the Judge of Probate of Escambia County, the authority shall thereupon stand dissolved and in the event it owned any property at the time of its dissolution, the title to all its properties shall thereupon pass to the city.
Structure Code of Alabama
Chapter 27A - Escambia County Municipalities.
Part 2 - Economic and Industrial Development.
Section 45-27A-31 - Legislative Intent.
Section 45-27A-31.01 - Definitions.
Section 45-27A-31.02 - Use of Phrases.
Section 45-27A-31.05 - Amendments to Certificate of Incorporation.
Section 45-27A-31.06 - Board of Directors.
Section 45-27A-31.07 - Officers of the Authority.
Section 45-27A-31.08 - Powers of Authority.
Section 45-27A-31.09 - Bonds of Authority.
Section 45-27A-31.10 - Proceeds From the Sale of Bonds.
Section 45-27A-31.11 - Refunding Bonds.
Section 45-27A-31.12 - Notice of Bond Resolution.
Section 45-27A-31.13 - Exemption From Taxation.
Section 45-27A-31.14 - Liability of City.
Section 45-27A-31.15 - Exemption From Usury and Interest Laws.
Section 45-27A-31.16 - Exemption From Competitive Bid Laws.
Section 45-27A-31.17 - Freedom of Authority From State Supervision and Control.
Section 45-27A-31.18 - Earnings of the Authority.
Section 45-27A-31.19 - Dissolution of the Corporation and Vesting of Title to Property in the City.
Section 45-27A-31.20 - Existence of the Authority to Prevent