Alabama § 11-54-92 Liability of Municipalities Upon Bonds, Agreements, Obligations, Etc., of Boards

Alabama Statutes

§ 11-54-92 — Liability of Municipalities Upon Bonds, Agreements, Obligations, Etc., of Boards

Alabama § 11-54-92

JurisdictionAlabama

Title 11Counties and Municipal Corporations

Ch. 54Promotion of Industry, Trade, Commerce and Pollution Control

Art. 4Industrial Development Boards

Div. 1General Provisions

This text of Alabama § 11-54-92 (Liability of Municipalities Upon Bonds, Agreements, Obligations, Etc., of Boards) 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 § 11-54-92 (2026).

Text

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

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