Alabama § 11-62-12 - Establishment and Maintenance of Special Debt Service Reserve Funds, Etc.
Full text of Alabama Code of Alabama § 11-62-12 — Establishment and Maintenance of Special Debt Service Reserve Funds, Etc., with citation guidance and answers to common questions.
§ 11-62-12. Establishment and Maintenance of Special Debt Service Reserve Funds, Etc.
Any authority may establish and maintain one or more special debt service reserve funds and such other special fund or funds as may be necessary or desirable for its corporate purposes and may pay into each such fund any moneys contributed or granted to such authority for the purpose of such fund by any governmental or public entity or any private party, any proceeds from the sale of bonds or notes to the extent provided in the resolution adopted by the board of such authority authorizing the issuance of such bonds or notes and any other moneys which may be made available to such authority for the purpose of such fund from any other source or sources.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 11-62-12
What does Code of Alabama § 11-62-12 cover?
Section 11-62-12 ("Establishment and Maintenance of Special Debt Service Reserve Funds, Etc.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 11-62-12?
A common citation format is "Code of Alabama § 11-62-12" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 11-62-12 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.