Alabama § 11-81-13 - Disposition of Proceeds from Sale.
Full text of Alabama Code of Alabama § 11-81-13 — Disposition of Proceeds from Sale., with citation guidance and answers to common questions.
§ 11-81-13. Disposition of Proceeds from Sale.
The principal proceeds received in the sale of any bonds hereafter issued under the authority of this chapter shall be used for the purposes for which the bonds are issued; provided, however, that if for any reason any part of such proceeds shall not be necessary for such purposes then such unexpended part of such proceeds shall be applied to the payment of the principal of or interest on said bonds. All accrued interest and premium received in any such sale shall be applied to the payment of interest or principal on the bonds sold.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 11-81-13
What does Code of Alabama § 11-81-13 cover?
Section 11-81-13 ("Disposition of Proceeds from Sale.") 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 § 11-81-13?
A common citation format is "Code of Alabama § 11-81-13" (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 § 11-81-13 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.