Ala. Code § 45-49-90.15
Current through the 2024 Regular Session.
The sales price of any part of an industrial park shall be no less than the greater of the consideration for purchase paid by the participants plus the cost of all improvements made in the development of the property and the costs of financing the acquisition and development, other than interest on any bonds, prorated on the basis of the acreage involved, or the then fair market value of the property to be sold as determined by an appraisal by a real estate appraiser whose appraisals are accepted by local lending institutions.
Ala. Code § 45-49-90.15 (1975)