Alabama Statutes
§ 11-81-168 — Revenue Bonds - Negotiability
Alabama·Title 11 Counties and Municipal Corporations·Ch. 81 Municipal and County Bonds·Art. 5 Revenue Bonds for Waterworks, Gas, Sewer or Electric Systems
Such bonds shall have all of the qualities and incidents of negotiable instruments under the law merchant and the applicable provisions of Title 7 and Title 8; except, that they shall not be construed as containing an unconditional promise to pay.
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Legislative History
(Acts 1933, Ex. Sess., No. 102, p. 88; Acts 1936-37, Ex. Sess., No. 203, p. 236; Code 1940, T. 37, §319.)
Nearby Sections
15
§ 11-1-1
Number and Names of Counties§ 11-1-2
County Declared a Body Corporate