AL SB183

Amends Section 11-81-93 of the Code of Alabama 1975 to authorize county commissions to issue refunding bonds without an election, up to the principal amount of bonds being refunded.

Allows counties to issue bonds from time to time to refund installments of at least $1,000 on outstanding serial bonds without requiring an election.

Permits counties until December 31, 2020 to issue refunding bonds for bonds originally issued before January 1, 2011 that were themselves refunding bonds, and ratifies and confirms all such prior refunding bonds.

Excludes from this authorization any bonds that were held invalid by the Alabama Supreme Court or by final circuit court judgment before the act's effective date, or any bonds currently subject to pending civil litigation regarding their validity.

Becomes effective immediately upon passage and approval by the Governor.