Alabama § 11-85-108 Appropriation and Pledge of Funds for Authority Obligations

Alabama Statutes

§ 11-85-108 — Appropriation and Pledge of Funds for Authority Obligations

Alabama § 11-85-108

Title 11Counties and Municipal Corporations

Ch. 85Regional Planning and Development

Art. 6Alabama Revolving Loan Fund Authority

This text of Alabama § 11-85-108 (Appropriation and Pledge of Funds for Authority Obligations) 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 § 11-85-108 (2026).

Text

For the purpose of providing funds to enable the authority to pay at their respective maturities the principal of and interest on any bonds issued by it under this article and to accomplish the objects of this article, there is hereby irrevocably pledged to these purposes, and hereby appropriated the amount that may be necessary for those purposes from the receipts from the privilege or license tax on providers of cellular radio telecommunication services levied in Section 40-21-121.

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For the purpose of providing funds to enable the authority to pay at their respective maturities the principal of and interest on any bonds issued by it under this article and to accomplish the objects of this article, there is hereby irrevocably pledged to these purposes, and hereby appropriated the amount that may be necessary for those purposes from the receipts from the privilege or license tax on providers of cellular radio telecommunication services levied in Section 40-21-121.