Alabama Statutes
§ 11-81-147 — Liability of Municipalities or Counties on Bonds
Alabama·Title 11 Counties and Municipal Corporations·Ch. 81 Municipal and County Bonds·Art. 4 Public Improvement Bonds·Div. 2 Bonds for Certain Revenue-Producing Undertakings
Revenue anticipation bonds issued under this division shall not be a debt of the municipality or county within the meaning of the Constitution, and the municipality or county shall not be liable thereon nor shall they be payable out of any funds other than the revenue obtained therefrom, anything contained in this division to the contrary notwithstanding, and every bond issued under this division shall contain a recital to that effect.
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Alabama § 11-81-147 (Liability of Municipalities or Counties on Bonds) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(Acts 1935, No. 154, p. 195; Code 1940, T. 37, §348.)
Nearby Sections
15
§ 11-1-1
Number and Names of Counties§ 11-1-2
County Declared a Body Corporate