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Alabama Code (Last Updated: November 28, 2014) |
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Title11 COUNTIES AND MUNICIPAL CORPORATIONS. |
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Title2 PROVISIONS APPLICABLE TO MUNICIPAL CORPORATIONS ONLY. |
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Chapter54. PROMOTION OF INDUSTRY, TRADE, COMMERCE AND POLLUTION CONTROL. |
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Article3. Acquisition, etc., of Projects for Provision of Buildings and Other Facilities for Certain National Organizations. |
§11-54-60. Municipalities not to contribute to costs of acquisition of projects or use municipal lands for projects.
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No municipality shall have the power to pay out of its general funds or otherwise contribute any part of the costs of acquiring a project and shall not have the power to use land already owned by the municipality or in which the municipality has an equity for construction thereon of a project or any part thereof. The entire cost of acquiring any project must be paid out of the proceeds from the sale of bonds issued under the authority of this article; provided, however, that this provision shall not be construed to prevent a municipality from accepting donations of property to be used as a part of any project or money to be used for defraying any part of the cost of any project or from requiring any lessee of a project to pay the cost of completing such project in the event the proceeds from the sale of the bonds are insufficient therefor.