Alabama § 11-20-42 Liability of County Upon Bonds, Obligations, Agreements, Etc., of Corporations

Alabama Statutes

§ 11-20-42 — Liability of County Upon Bonds, Obligations, Agreements, Etc., of Corporations

Alabama·Title 11 Counties and Municipal Corporations·Ch. 20 Promotion of Industry and Trade·Art. 2 Industrial Development Boards

The county shall not in any event be liable for the payment of the principal of or interest on any bonds of the corporation or for the performance of any pledge, mortgage, obligation or agreement of any kind whatsoever which may be undertaken by the corporation, and none of the bonds of the corporation or any of its agreements or obligations shall be construed to constitute an indebtedness of the county within the meaning of any constitutional or statutory provision whatsoever.

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The county shall not in any event be liable for the payment of the principal of or interest on any bonds of the corporation or for the performance of any pledge, mortgage, obligation or agreement of any kind whatsoever which may be undertaken by the corporation, and none of the bonds of the corporation or any of its agreements or obligations shall be construed to constitute an indebtedness of the county within the meaning of any constitutional or statutory provision whatsoever.

Alabama § 11-20-42 (Liability of County Upon Bonds, Obligations, Agreements, Etc., of Corporations) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.