Section 14-2-24 Obligations, bonds and notes not debt of state. - Alabama Statutes

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Section 14-2-24

Obligations, bonds and notes not debt of state.

All obligations incurred by the authority and all bonds and notes issued by it shall be solely and exclusively an obligation of the authority, payable solely from the revenues and income which may under the provisions of this chapter be pledged to the payment thereof. No obligation incurred by the authority and no bond or note issued by it shall create an obligation or debt of the state.

(Acts 1965, No. 678, p. 1226, §18; Acts 1967, Ex. Sess., No. 103, p. 131.)

State Codes and Statutes

Statutes > Alabama > Title14 > Chapter2 > 14-2-24

Section 14-2-24

Obligations, bonds and notes not debt of state.

All obligations incurred by the authority and all bonds and notes issued by it shall be solely and exclusively an obligation of the authority, payable solely from the revenues and income which may under the provisions of this chapter be pledged to the payment thereof. No obligation incurred by the authority and no bond or note issued by it shall create an obligation or debt of the state.

(Acts 1965, No. 678, p. 1226, §18; Acts 1967, Ex. Sess., No. 103, p. 131.)

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State Codes and Statutes

Statutes > Alabama > Title14 > Chapter2 > 14-2-24

Section 14-2-24

Obligations, bonds and notes not debt of state.

All obligations incurred by the authority and all bonds and notes issued by it shall be solely and exclusively an obligation of the authority, payable solely from the revenues and income which may under the provisions of this chapter be pledged to the payment thereof. No obligation incurred by the authority and no bond or note issued by it shall create an obligation or debt of the state.

(Acts 1965, No. 678, p. 1226, §18; Acts 1967, Ex. Sess., No. 103, p. 131.)