Alabama Statutes

§ 16-48-3 — Interest on Federal Fund Paid by State

Alabama·Title 16 Education·Ch. 48 Auburn University

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.)

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