§ 2-6-54 — Lease Authorized - Lease Not to Constitute Debt of State; Payment of Rentals

Alabama § 2-6-54

• Jurisdiction: Alabama
• Title 2: Agriculture
• Ch. 6: Agricultural Center
• Art. 3: Lease of Coliseum Building and Facilities

Text

The lease agreement shall never in any event constitute or give rise to an indebtedness of the State of Alabama and no recourse shall ever be had against the general credit of the state or against its general funds for payment of said rentals. The rentals provided for in the lease agreement shall be payable solely out of the moneys in the Agricultural Center Fund derived from the operation of the properties covered by the lease agreement and, to the extent such moneys are not sufficient to pay said rentals and to pay the said operating and administrative expenses, out of the moneys in the Agricultural Fund appropriated for said purposes in this article. No moneys at any time in the General Fund of the state shall ever be used for payment of said rentals.

Legislative History

(Acts 1951, No. 533, p. 943, §5.)