At any time when no bonds of the authority are outstanding, the authority may be dissolved upon the filing with the judge of probate, in the county in which is filed the certificate of incorporation, of an application for dissolution, which shall be subscribed by each of the members of the board and sworn to by each member before an officer authorized to take acknowledgments to deeds. Upon the filing of such application for dissolution, the authority shall cease to exist. The judge of probate shall receive and record the application for dissolution in an appropriate book of record in his or her office. Upon dissolution, all rights, title, and interest of the authority in property shall be vested in the city.
Structure Code of Alabama
Chapter 37A - Jefferson County Municipalities.
Section 45-37A-56.21 - Application of Subpart.
Section 45-37A-56.22 - Definitions.
Section 45-37A-56.25 - Execution and Recording of Certificate of Incorporation.
Section 45-37A-56.27 - Board of Directors of the Authority.
Section 45-37A-56.28 - Officers of the Authority.
Section 45-37A-56.29 - Powers of the Authority.
Section 45-37A-56.30 - Operation or Leasing of Parking Facilities.
Section 45-37A-56.31 - Federal and State Aid.
Section 45-37A-56.32 - Cooperation.
Section 45-37A-56.33 - Bonds of the Authority.
Section 45-37A-56.34 - Execution of Bonds.
Section 45-37A-56.35 - Security of Bonds.
Section 45-37A-56.36 - Use of Proceeds From Sale of Bonds.
Section 45-37A-56.37 - Refunding Bonds.
Section 45-37A-56.38 - Exemption From Taxation.
Section 45-37A-56.39 - Investment in Bonds.
Section 45-37A-56.40 - Eligibility of Bonds as Investments for Trust Funds.
Section 45-37A-56.42 - Contracting and Purchasing Restrictions.
Section 45-37A-56.43 - Audit; Inspection of Records.