Alabama Code (Last Updated: November 28, 2014) |
Title11 COUNTIES AND MUNICIPAL CORPORATIONS. |
Title2 PROVISIONS APPLICABLE TO MUNICIPAL CORPORATIONS ONLY. |
Chapter50A. MUNICIPAL ELECTRIC AUTHORITY. |
§11-50A-15. Negotiability of bonds.
Latest version.
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Bonds, bond anticipation notes and notes issued by the authority shall be construed to be, and shall have all the rights and incidents of negotiable instruments, subject to the provision of the bonds, bond anticipation notes or notes pertaining to registration, although payable solely from a specified source as provided herein.