The principal and interest of bonds issued under this article shall be payable at such place or places as the board of commissioners may designate. At least two weeks before the principal and interest of any bonds are due and payable, it shall be the duty of the treasurer of the water management district to forward to the place of payment named in such bonds an amount sufficient to meet the principal and interest thereon coming due together with the customary fee of such paying back, not to exceed one fourth of one percent. It shall be the duty of the board of water management commissioners in making the annual tax levy as provided in this article to take into account the maturing bonds and interest on all bonds and to make ample provisions in advance for the payment thereof. In case the proceeds of the original tax levy made under the provisions of this article are not sufficient to pay the principal and interest of all the bonds issued thereunder, then the board of water management commissioners shall make such additional levy or levies upon the benefits assessed as are necessary for this purpose and may issue additional bonds in like manner as in the first instance; provided, that the total tax levies, exclusive of maintenance taxes or taxes levied to pay the interest on bonds, shall not exceed 90 percent of the benefits assessed.
Structure Code of Alabama
Title 9 - Conservation and Natural Resources.
Chapter 9 - Water Management and Drainage.
Article 1 - Water Management Districts.
Section 9-9-4 - Who May Sign Petitions.
Section 9-9-5 - Establishment of District - Jurisdiction Generally; Purposes.
Section 9-9-8 - Establishment of District - Jurisdiction of Probate Court in Which Petition Filed.
Section 9-9-9 - Establishment of District - Notice of Filing of Petition and of Hearing.
Section 9-9-13 - Establishment of District - Effect of Order Establishing District.
Section 9-9-15 - Board of Water Management Commissioners - Powers and Duties Generally.
Section 9-9-16 - Board of Water Management Commissioners - Election of District Treasurer.
Section 9-9-17 - Board of Water Management Commissioners - Appointment, etc., of Fiscal Agent.
Section 9-9-19 - Compensation of District Officers and Employees.
Section 9-9-20 - Removal of Commissioners, Viewers or Other District Officers.
Section 9-9-21 - Right of Condemnation.
Section 9-9-24 - Procedure as to Proposed Improvement Crossing Railroad Right-of-Way.
Section 9-9-25 - Correction of Errors in or Amendments to Water Management Plan.
Section 9-9-27 - Viewing and Assessment of Lands by Board of Viewers; Report of Findings.
Section 9-9-28 - Notice of Hearing on Report of Board of Viewers.
Section 9-9-30 - Appeal From Confirmation of Board of Viewers' Report.
Section 9-9-33 - Collection of Taxes on Property Divided, Sold or Transferred.
Section 9-9-35 - Payment of Tax to District Treasurer - Required; Records.
Section 9-9-37 - Bonds - Issuance.
Section 9-9-38 - Bonds - Sale; Disposition of Proceeds, Etc.
Section 9-9-39 - Bonds - Payment of Principal and Interest.
Section 9-9-40 - Bonds - Remedies and Proceedings Upon Default.
Section 9-9-41 - Bonds of District Employees, Etc.
Section 9-9-44 - Construction of Improvements Under Water Management Plan - Default of Contractor.
Section 9-9-47 - Construction of Improvements Crossing Railroad Right-of-Way.
Section 9-9-50 - Annexation of Land to District.
Section 9-9-51 - Organization of District Over Lands of Watershed Conservancy District.
Section 9-9-53 - Joint Works of Improvement With Adjoining States.
Section 9-9-54 - Procedure as to Warrants Not Paid Because of Lack of Funds.
Section 9-9-55 - Correction of Errors in Court Proceedings, Etc.