Alabama Statutes
§ 16-48-3 — Interest on Federal Fund Paid by State
Alabama § 16-48-3
This text of Alabama § 16-48-3 (Interest on Federal Fund Paid by State) 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 § 16-48-3 (2026).
Text
For the payment of the interest, at the rate of eight percent per annum, on the fund of $253,500.00 arising from the sale of the script for the land donated in trust to this state by the act of Congress of July 2, 1862, the faith and credit of the state are forever pledged.
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Legislative History
(School Code 1927, §523; Code 1940, T. 52, §476.)
Nearby Sections
15
§ 16-1-1
Definitions§ 16-1-11.5
Teacher Certification§ 16-1-16.1
Alabama Council on Family and Children§ 16-1-17
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Bluebook (online)
Alabama § 16-48-3, Counsel Stack Legal Research, https://law.counselstack.com/statute/al/16-48-3.