At any time when the authority has no bonds or other obligations outstanding, the board may adopt a resolution, which shall be duly entered upon its minutes, declaring that the authority shall be dissolved. Upon the filing for record of a certified copy of the resolution in the office of the judge of probate of the county of incorporation, 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 authorizing county or municipality.
Structure Code of Alabama
Article 9 - Economic and Industrial Development and Tourism.
Section 45-46-90 - Legislative Findings.
Section 45-46-90.01 - Definitions.
Section 45-46-90.02 - Filing of Application; Resolution.
Section 45-46-90.03 - Certificate of Incorporation.
Section 45-46-90.04 - Amendments to Certificate of Incorporation.
Section 45-46-90.05 - Board of Directors.
Section 45-46-90.06 - Powers of the Authority.
Section 45-46-90.07 - Charges for Use of Authority Facilities.
Section 45-46-90.08 - Bonds of the Authority.
Section 45-46-90.09 - Power to Contract.
Section 45-46-90.10 - Lien on Pledge of Revenues.
Section 45-46-90.11 - Proceeds From the Sale of Bonds.
Section 45-46-90.13 - Liability for Civil Damages.
Section 45-46-90.14 - Exemption From Taxation.
Section 45-46-90.15 - Freedom of Authority From State Supervision and Control.
Section 45-46-90.16 - Port Director; Administrative Assistant; Other Employees.
Section 45-46-90.17 - Audit of Records.