Alabama Statutes
§ 11-81-189 — Impairment, Etc., of Valid Liens or Contracts Not Authorized by Article
Alabama·Title 11 Counties and Municipal Corporations·Ch. 81 Municipal and County Bonds·Art. 5 Revenue Bonds for Waterworks, Gas, Sewer or Electric Systems
Nothing in this article shall be construed as authorizing any borrower to impair or commit a breach of the obligation of any valid lien or contract created or entered into by it, the intention of this article being to authorize the pledging, setting aside and segregation of gross revenues only where consistent with outstanding obligations of such borrower.
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Alabama § 11-81-189 (Impairment, Etc., of Valid Liens or Contracts Not Authorized by Article) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(Acts 1933, Ex. Sess., No. 102, p. 88; Code 1940, T. 37, §337.)
Nearby Sections
15
§ 11-1-1
Number and Names of Counties§ 11-1-2
County Declared a Body Corporate