As used in this article, the following words and phrases shall have the following meanings:

(1) DISTRICT MANAGEMENT CORPORATION. An entity created by incorporation under the Alabama Nonprofit Corporation Act, Chapter 3 of Title 10A, and designated by ordinance by the incorporated municipality to manage a self-help business improvement district.
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Terms Used In Alabama Code 11-54B-41

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • following: means next after. See Alabama Code 1-1-1
(2) MUNICIPALITY. Those municipalities designated as Class 2 municipalities as defined in Section 11-40-12.
(3) SELF-HELP BUSINESS IMPROVEMENT DISTRICT. An area within the incorporated municipality designated by ordinance as an area in which a special assessment may be levied on the owners of real property located within the geographical area of the district for the purposes of providing supplemental services within the district and promoting the economic and general welfare of the district or, alternatively with respect to a district formed for the purpose of increasing tourism within the municipality, an area or areas within the municipality designated by ordinance as an area or areas in which a special assessment may be levied on businesses of a particular class located within the geographical area of the district for the purposes of providing supplemental services for the benefit of the businesses within the district, in which case the district shall include only those existing and future businesses of the designated class.
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