Section 11-8-4 Principal and interest on refunding warrants to constitute part of annual county operating budget; payment of same. - Alabama Statutes

Section 11-8-4

Principal and interest on refunding warrants to constitute part of annual county operating budget; payment of same.

Where counties issue or have heretofore issued refunding warrants in lieu of obligations outstanding, the interest of such outstanding warrants together with the principal thereof maturing in any fiscal year, shall constitute a part of the current operating budget of such county for that fiscal year and shall be paid out of funds available in such year for operating purposes, unless funds are provided otherwise for such payment.

(Acts 1935, No. 379, p. 803; Code 1940, T. 12, §75.)