Section 41-10-321 Obligations, bonds and notes not debts of state. - Alabama Statutes

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Section 41-10-321

Obligations, bonds and notes not debts 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 sources which may under the provisions of this article 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 or of the commission.

(Acts 1986, No. 86-546, p. 1093, §22.)

State Codes and Statutes

Statutes > Alabama > Title41 > Chapter10 > 41-10-321

Section 41-10-321

Obligations, bonds and notes not debts 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 sources which may under the provisions of this article 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 or of the commission.

(Acts 1986, No. 86-546, p. 1093, §22.)

State Codes and Statutes

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State Codes and Statutes

Statutes > Alabama > Title41 > Chapter10 > 41-10-321

Section 41-10-321

Obligations, bonds and notes not debts 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 sources which may under the provisions of this article 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 or of the commission.

(Acts 1986, No. 86-546, p. 1093, §22.)