Alabama § 16-20-5 State Pledged to Pay Interest on School Land Funds

Alabama Statutes

§ 16-20-5 — State Pledged to Pay Interest on School Land Funds

Alabama § 16-20-5

Title 16Education

Ch. 20Lease and Sale of School Lands

This text of Alabama § 16-20-5 (State Pledged to Pay Interest on School Land Funds) 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 § 16-20-5 (2026).

Text

All funds now in the Treasury derived from the sale of sixteenth section or other school lands, or which may hereafter accrue from sale of such lands, together with the redemption money of other lands in which former accumulations have been invested under an act approved March 1, 1881, entitled “An act to authorize the compromise and settlement of claims for school lands in this state,” are covered into the Treasury and made available for general purposes, and the faith and credit of the state is pledged for the payment of the interest on such fund to the public schools of the state, at the rate of six percent per annum.

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All funds now in the Treasury derived from the sale of sixteenth section or other school lands, or which may hereafter accrue from sale of such lands, together with the redemption money of other lands in which former accumulations have been invested under an act approved March 1, 1881, entitled “An act to authorize the compromise and settlement of claims for school lands in this state,” are covered into the Treasury and made available for general purposes, and the faith and credit of the state is pledged for the payment of the interest on such fund to the public schools of the state, at the rate of six percent per annum.