Alabama § 16-19-4 Pledge of Revenues for Payment of Warrants

Alabama Statutes

§ 16-19-4 — Pledge of Revenues for Payment of Warrants

Alabama § 16-19-4

Title 16Education

Ch. 19Local Aid to State Educational Institutions

This text of Alabama § 16-19-4 (Pledge of Revenues for Payment of Warrants) 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 § 16-19-4 (2026).

Text

As security for the payment of the principal of and interest on any warrants issued under the provisions of this chapter, the local subdivision issuing such warrants may, in the discretion of its governing body, specially pledge for payment of such principal and interest at their respective maturities the proceeds of any ad valorem, privilege, license, excise or other tax the proceeds of which are subject to the control of such local subdivision and are not required by law to be devoted to some other purpose.

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As security for the payment of the principal of and interest on any warrants issued under the provisions of this chapter, the local subdivision issuing such warrants may, in the discretion of its governing body, specially pledge for payment of such principal and interest at their respective maturities the proceeds of any ad valorem, privilege, license, excise or other tax the proceeds of which are subject to the control of such local subdivision and are not required by law to be devoted to some other purpose.