Section 16-19-5 County general obligation warrants to constitute preferred claim; issuance deemed audit and allowance of claim. - Alabama Statutes

Section 16-19-5

County general obligation warrants to constitute preferred claim; issuance deemed audit and allowance of claim.

Any general obligation warrants and the interest coupons applicable thereto issued by a county under the provisions of this chapter shall constitute preferred claims against the issuing county, having the same priority, under Section 11-12-15, as interest on bonds. The issuance hereunder of any warrants and interest coupons by a county, pursuant to the authorization by the county commission, shall be deemed to constitute an audit and allowance by such county commission of claims, in the total amount of such warrants and coupons, against such county and against any tax proceeds pledged therefor pursuant to the provisions of this chapter, and no other audit or allowance of such claims and no proof of registration thereof shall be required.

(Acts 1959, 1st Ex. Sess., No. 79, p. 140, §5; Acts 1970, Ex. Sess., No. 45, p. 2668, §4.)