Alabama § 16-13-212 Notes Not General Obligation; Board May Pledge Tax Proceeds

Alabama Statutes

§ 16-13-212 — Notes Not General Obligation; Board May Pledge Tax Proceeds

Alabama § 16-13-212

Title 16Education

Ch. 13School Finances Generally

Art. 10Notes in Anticipation of Warrants

This text of Alabama § 16-13-212 (Notes Not General Obligation; Board May Pledge Tax Proceeds) 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 § 16-13-212 (2026).

Text

The principal of and interest on such notes shall not be general obligations of the board of education issuing said notes but shall be payable from the principal proceeds from the sale of the warrants with respect to which such notes are issued and, to the extent necessary, from the tax proceeds which the issuing board of education may pledge to the payment of such warrants. Any board of education may secure payment of the principal of and interest on the notes by a pledge of so much as may be necessary therefor of such tax proceeds.

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The principal of and interest on such notes shall not be general obligations of the board of education issuing said notes but shall be payable from the principal proceeds from the sale of the warrants with respect to which such notes are issued and, to the extent necessary, from the tax proceeds which the issuing board of education may pledge to the payment of such warrants. Any board of education may secure payment of the principal of and interest on the notes by a pledge of so much as may be necessary therefor of such tax proceeds.