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·Title 11 Counties and Municipal Corporations·Ch. 85 Regional Planning and Development·Art. 6 Alabama Revolving Loan Fund Authority

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.

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