Section 11-81-2 Execution of mortgages or deeds of trust upon property acquired, etc., with proceeds of bond issues; recordation of same. - Alabama Statutes

Section 11-81-2

Execution of mortgages or deeds of trust upon property acquired, etc., with proceeds of bond issues; recordation of same.

Any municipal corporation in this state shall have power and authority to execute a mortgage or deed of trust upon the property acquired or to be acquired with the proceeds of a bond issue authorized in this chapter, and such mortgage or deed of trust shall be admitted to record in the office of the probate judge of any county in this state without the payment of any tax upon the debts secured thereby or any other fee or charge, except the costs of recording the instrument at the rate fixed by law.

(Acts 1909, No. 195, p. 188; Code 1923, §2268; Code 1940, T. 37, §252.)