# Ala. Code § 11-81-3: Section 11-81-3 Issuance of Refunding or Funding Bonds as to Adjustment, Etc., of Indebtedness

> Alabama · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_AL_T3_C81_S11-81-3

## Section

- **Citation:** Ala. Code § 11-81-3
- **Heading:** Section 11-81-3 Issuance of Refunding or Funding Bonds as to Adjustment, Etc., of Indebtedness
- **Jurisdiction:** Alabama
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Alabama Code / Title 3 / Chapter 81 / Section 11-81-3

## Text

The governing body of any county, city or town, or municipal authority organized under Article 9, Chapter 47 of this title which shall authorize the issuance of refunding or funding bonds may exercise all powers deemed necessary by the governing body for the execution and fulfillment of any plan or agreement for the settlement, adjustment, refunding, or funding of the indebtedness of the county, city or town, or municipal authority organized under Article 9, Chapter 47 of this title not inconsistent with the provisions of law relating to the issuance of refunding or funding bonds. Without limiting the generality of any of the foregoing powers, it is expressly declared that the governing body shall have the power to take all steps and proceedings contemplated or permitted by any act of the Congress of the United States relating to the readjustment of municipal indebtedness, and the State of Alabama hereby gives its assent thereto and hereby authorizes each county, city or town, or municipal authority organized under Article 9, Chapter 47 of this title in the state to proceed under the provisions of the acts for the readjustment of its debts.

## Nearby sections

- [Ala. Code § 11-81-1 Section 11-81-1 Execution of Mortgages to Secure Bonds and Indebtedness Incurred in Purchase, Construction, Extension, Etc., of School Buildings or Waterworks, Gas, Light, Etc., Plants](https://www.frixlaw.com/law-library/statutes/STATE_AL_T3_C81_S11-81-1.md)
- [Ala. Code § 11-81-2 Section 11-81-2 Execution of Mortgages or Deeds of Trust Upon Property Acquired, Etc., with Proceeds of Bond Issues; Recordation of Same](https://www.frixlaw.com/law-library/statutes/STATE_AL_T3_C81_S11-81-2.md)
- [Ala. Code § 11-81-3 Section 11-81-3 Issuance of Refunding or Funding Bonds as to Adjustment, Etc., of Indebtedness](https://www.frixlaw.com/law-library/statutes/STATE_AL_T3_C81_S11-81-3.md)
- [Ala. Code § 11-81-4 Section 11-81-4 Issuance of Refunding Interest-Bearing Certificates of Indebtedness, Warrants or Notes by Municipalities; Pledge of Tax, Revenues, Etc., for Payment of Principal and Interest on Same](https://www.frixlaw.com/law-library/statutes/STATE_AL_T3_C81_S11-81-4.md)
- [Ala. Code § 11-81-5 Section 11-81-5 Places of Payment](https://www.frixlaw.com/law-library/statutes/STATE_AL_T3_C81_S11-81-5.md)
- [Ala. Code § 11-81-6 Section 11-81-6 Maturity and Payment - Generally](https://www.frixlaw.com/law-library/statutes/STATE_AL_T3_C81_S11-81-6.md)
- [Ala. Code § 11-81-7 Section 11-81-7 Maturity and Payment - Bonds Issued and Sold in Series](https://www.frixlaw.com/law-library/statutes/STATE_AL_T3_C81_S11-81-7.md)
- [Ala. Code § 11-81-8 Section 11-81-8 Estimate as to Period of Usefulness of Improvement or Property for Which Bonds Issued](https://www.frixlaw.com/law-library/statutes/STATE_AL_T3_C81_S11-81-8.md)
- [Ala. Code § 11-81-9 Section 11-81-9 Form; Appointment of Registrar and Provision for Registration and Transfer](https://www.frixlaw.com/law-library/statutes/STATE_AL_T3_C81_S11-81-9.md)
- [Ala. Code § 11-81-10 Section 11-81-10 Sale Price](https://www.frixlaw.com/law-library/statutes/STATE_AL_T3_C81_S11-81-10.md)
- [Ala. Code § 11-81-11 Section 11-81-11 Sale](https://www.frixlaw.com/law-library/statutes/STATE_AL_T3_C81_S11-81-11.md)
- [Ala. Code § 11-81-12 Section 11-81-12 Determination of Highest Bidder](https://www.frixlaw.com/law-library/statutes/STATE_AL_T3_C81_S11-81-12.md)
- [Ala. Code § 11-81-13 Section 11-81-13 Disposition of Proceeds from Sale](https://www.frixlaw.com/law-library/statutes/STATE_AL_T3_C81_S11-81-13.md)
- [Ala. Code § 11-81-14 Section 11-81-14 Presumption as to Validity of Issuance, Sale, Etc.; Limitation Period for Actions to Contest Validity Thereof](https://www.frixlaw.com/law-library/statutes/STATE_AL_T3_C81_S11-81-14.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_AL_T3_C81_S11-81-3. Check the current official text before relying on it. Not legal advice.