Section 14-6A-8 Obligations of authority. - Alabama Statutes

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Section 14-6A-8

Obligations of authority.

All obligations created or assumed and all bonds issued or assumed by the authority shall be solely and exclusively an obligation of the authority and shall not create an obligation or debt of any county nor count against the constitutional debt limit of a participating county. This section shall not be construed to release the original obligor from liability on any bond or other obligation assumed by the authority.

(Acts 1997, No. 97-441, p. 742, §8.)

State Codes and Statutes

Statutes > Alabama > Title14 > Chapter6A > 14-6A-8

Section 14-6A-8

Obligations of authority.

All obligations created or assumed and all bonds issued or assumed by the authority shall be solely and exclusively an obligation of the authority and shall not create an obligation or debt of any county nor count against the constitutional debt limit of a participating county. This section shall not be construed to release the original obligor from liability on any bond or other obligation assumed by the authority.

(Acts 1997, No. 97-441, p. 742, §8.)

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Statutes > Alabama > Title14 > Chapter6A > 14-6A-8

Section 14-6A-8

Obligations of authority.

All obligations created or assumed and all bonds issued or assumed by the authority shall be solely and exclusively an obligation of the authority and shall not create an obligation or debt of any county nor count against the constitutional debt limit of a participating county. This section shall not be construed to release the original obligor from liability on any bond or other obligation assumed by the authority.

(Acts 1997, No. 97-441, p. 742, §8.)