# Ala. Code § 11-81-7: Section 11-81-7 Maturity and Payment - Bonds Issued and Sold in Series

> Alabama · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_AL_T3_C81_S11-81-7

## Section

- **Citation:** Ala. Code § 11-81-7
- **Heading:** Section 11-81-7 Maturity and Payment - Bonds Issued and Sold in Series
- **Jurisdiction:** Alabama
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Alabama Code / Title 3 / Chapter 81 / Section 11-81-7

## Text

In any case where general obligation bonds of a county or a municipality have heretofore been or may hereafter be authorized at an election held pursuant to the provisions of Article 2 or 3 of this chapter, as amended, and are issued and sold in series rather than as an entirety, it shall not be necessary for each series of such bonds to mature or be payable in the manner required by the applicable provisions of Section 11-81-6, as amended, so long as all such bonds so authorized taken together mature or are payable in the manner provided by the applicable provisions of said Section 11-81-6.

Without in any way limiting the generality of the foregoing, it is hereby declared that in cases where any such bonds are so authorized at an election and are issued and sold in series and not as an entirety, it shall not be necessary for the bonds of each such series to be payable in annual installments or for the first installment of principal of the bonds of any such series to be payable not later than three years after the date of the bonds of such series, and the largest installment of principal coming due in any successive 12-month period on the bonds of any such series may be more than two times as great as the smallest installment of principal coming due in any prior successive 12-month period on the bonds of such series.

## 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)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_AL_T3_C81_S11-81-7. Check the current official text before relying on it. Not legal advice.