Alabama § 11-50-317 Pledge of Revenues from and Mortgaging of Systems for Payment of Bonds

Alabama Statutes

§ 11-50-317 — Pledge of Revenues from and Mortgaging of Systems for Payment of Bonds

Alabama § 11-50-317

Title 11Counties and Municipal Corporations

Ch. 50Public Utilities

Art. 9Boards for Operation of Water, Sewer, Gas and Electric Systems

This text of Alabama § 11-50-317 (Pledge of Revenues from and Mortgaging of Systems for Payment of Bonds) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 11-50-317 (2026).

Text

Any bonds issued by a corporation organized under this article for any purpose for which it is authorized by law to borrow money and issue its bonds, without regard to the system for the benefit of or with respect to which such bonds may be issued, may be made payable out of the revenues from all systems owned by the corporation or out of the revenues from any one or more systems owned by the corporation, and any such corporation may pledge for the payment of any of its bonds the revenues from which such bonds are payable and may mortgage, pledge, or otherwise convey as security for such bonds the system or systems the revenues from which are so pledged.

Free access — add to your briefcase to read the full text and ask questions with AI

Any bonds issued by a corporation organized under this article for any purpose for which it is authorized by law to borrow money and issue its bonds, without regard to the system for the benefit of or with respect to which such bonds may be issued, may be made payable out of the revenues from all systems owned by the corporation or out of the revenues from any one or more systems owned by the corporation, and any such corporation may pledge for the payment of any of its bonds the revenues from which such bonds are payable and may mortgage, pledge, or otherwise convey as security for such bonds the system or systems the revenues from which are so pledged.