Alabama § 11-88-105 - Separate Sinking Fund Accounts to Be Maintained for Refunding Bond Issues; Disposition of Same.
Full text of Alabama Code of Alabama § 11-88-105 — Separate Sinking Fund Accounts to Be Maintained for Refunding Bond Issues; Disposition of Same., with citation guidance and answers to common questions.
§ 11-88-105. Separate Sinking Fund Accounts to Be Maintained for Refunding Bond Issues; Disposition of Same.
A separate sinking fund account shall be provided and kept for each refunding bond issue authorized under the provisions of Sections 11-88-102, 11-88-103, and 11-88-104 to which shall be credited all collections made on assessments levied with respect to the improvements financed by the original issues of bonds or the proper proportionate part thereof, and such sinking fund shall be used only for the purpose of paying interest and principal on such bonds in that particular group or series as they mature.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 11-88-105
What does Code of Alabama § 11-88-105 cover?
Section 11-88-105 ("Separate Sinking Fund Accounts to Be Maintained for Refunding Bond Issues; Disposition of Same.") 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 § 11-88-105?
A common citation format is "Code of Alabama § 11-88-105" (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 § 11-88-105 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.