Alabama Statutes
§ 33-2-11 — Faith and Credit of State Pledged to Payment of Bonds
Alabama·Title 33 Navigation and Watercourses·Ch. 2 Development of Docks and Other Facilities Along Inland Waterways·Art. 1 1957 Provisions for Facilities Along Inland Waterways
For the payment of both the principal and interest of all bonds issued under the authority of this article according to their tenor, the full faith and credit of the State of Alabama is hereby pledged. If the funds supplied by the Alabama State Docks Department to the State Treasurer from the sources prescribed by this article are insufficient to fully pay at maturity any installment of interest on said bonds or to pay at maturity the principal of said bonds, then the deficiency shall be paid by the State Treasurer from any funds in the state treasury not otherwise appropriated.
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Alabama § 33-2-11 (Faith and Credit of State Pledged to Payment of Bonds) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(Acts 1957, No. 311, p. 408, §11.)
Nearby Sections
15
§ 33-1-1.1
Definitions§ 33-1-11
Jurisdiction§ 33-1-12.1
Additional Powers§ 33-1-14
Appraisal of Real Estate; Approval of Facilities by Governor Prerequisite to Beginning Project§ 33-1-15
Amendment of Plans§ 33-1-16
Terminal Railroads§ 33-1-17
Title to Property§ 33-1-2
Alabama State Port Authority