HB741 Alabama 2010 Session

Summary

Primary Sponsor

Demetrius C. Newton

Democrat

Session

Regular Session 2010

Title

Counties, sales and use tax proceeds, county in default on sewer system debt authorized to pledge revenues for financing or refinancing sewer system debt on a one-time basis

Description

This bill would allow, on a one-time basis, any county levying any sales and use tax and is in default or imminent threat of default on its sewer system bonded debt exceeding $3,000,000,000 to pledge revenues of any sales and use tax levied by the county for the financing or refinancing of bonds and/or warrants for the sewer system debt.

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Subjects

Counties