Alabama § 45-30-250.07 - Contracts of the Authority.
Full text of Alabama Code of Alabama § 45-30-250.07 — Contracts of the Authority., with citation guidance and answers to common questions.
§ 45-30-250.07. Contracts of the Authority.
(a) As security for payment of the principal of and interest on bonds or obligations assumed by it, the authority may enter into any contract binding itself for the proper application of the proceeds of bonds and other funds, for any of the following purposes:
(1) The continued operation and maintenance of any water system owned by it, or any part or parts thereof.
(2) The imposition and collection of reasonable rates for, and the promulgation of reasonable regulations respecting any service furnished from any system or facility.
(3) The disposition and application of its gross revenues or any part thereof.
(4) Any other act or series of acts necessary for the protection of the bonds and other obligations being secured and the assurance that the revenues from the system or facility shall be sufficient to operate and maintain the system or facility, pay the principal of and interest on any bonds payable from the revenues, and maintain sufficient reserves for the protection of the bonds, the efficient operation of the system or facility, and the making of replacements and capital improvements.
(b) Any contract pursuant to this section may be set forth in any resolution of the board authorizing the assumption of obligations or in any mortgage, deed of trust, or trust indenture made by the authority under this article.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 45-30-250.07
What does Code of Alabama § 45-30-250.07 cover?
Section 45-30-250.07 ("Contracts of the Authority.") 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 § 45-30-250.07?
A common citation format is "Code of Alabama § 45-30-250.07" (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 § 45-30-250.07 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.