SB545 Alabama 2010 Session
In Committee
Bill Summary
Sponsors
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
<p class="bill_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</p><p class="bill_entitled_an_act"> Relating to any county levying any sales and use
tax, which is in default or imminent threat of default on its
sewer system indebtedness, and whose indebtedness evidenced by
bonds or warrants issued by said county, secured by such sewer
system revenues, exceeds $3,000,000,000; to allow any such
county, on a one-time basis, to pledge any county sales and
use tax proceeds for the financing or refinancing of the
county sewer system debt for a period of time.
</p>
Subjects
Counties
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| March 11, 2010 | Read for the first time and referred to the Senate committee on Finance and Taxation General Fund |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB545 Alabama 2010 Session - Introduced |