At any time when the authority has no 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 of the judge of probate of the 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, subject to any constitutional prohibition or inhibitions to the contrary, shall thereupon vest in the city if the property is located within the municipal city limits or the county if the property is located outside the municipal city limits.
Structure Code of Alabama
Chapter 51A - Montgomery County Municipalities.
Part 2 - Economic & Industrial Development and Zoning.
Division 2 - Montgomery I-65 Corridor Development Authority.
Section 45-51A-31.20 - Legislative Intent.
Section 45-51A-31.21 - Definitions.
Section 45-51A-31.22 - Procedure for Organization.
Section 45-51A-31.23 - Board of Directors; Election, Terms, Eligibility.
Section 45-51A-31.24 - Officers of Authority; Election, Compensation.
Section 45-51A-31.25 - Powers of the Authority.
Section 45-51A-31.26 - Office Headquarters.
Section 45-51A-31.27 - Liability of the County and City.
Section 45-51A-31.30 - Assessment of Land Within the I-65 Corridor.
Section 45-51A-31.31 - Payment of Assessments.
Section 45-51A-31.32 - Failure to Pay Assessments.
Section 45-51A-31.34 - Exemption From Certain Requirements and Regulation.
Section 45-51A-31.35 - Dissolution.
Section 45-51A-31.36 - Public Disclosure and Accountability.