Alabama Statutes
§ 33-2-186 — Docks Facilities Revenue Bonds and Refunding Bonds - Nature Of; Pledge; Negotiable Instruments
Alabama·Title 33 Navigation and Watercourses·Ch. 2 Development of Docks and Other Facilities Along Inland Waterways·Art. 7 Acquisition, Construction, Financing, and Improvement of State Docks Facilities
The docks facilities revenue bonds and refunding bonds shall not be general obligations of the department but shall be payable solely out of docks facilities revenues. As security for the payment of the principal of, premium, if any, and interest on the docks facilities revenue bonds and refunding bonds issued by it under this article, the department is hereby authorized and empowered to pledge for payment of the said principal, premium, if any, and interest all or any part of the docks facilities revenues. All contracts made and all docks facilities revenue bonds and refunding bonds issued by the department pursuant to the provisions of this article shall be solely and exclusively obligations of the department and shall not be an obligation or debt of the state. The docks facilities reven
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Alabama § 33-2-186 (Docks Facilities Revenue Bonds and Refunding Bonds - Nature Of; Pledge; Negotiable Instruments) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(Acts 1984, No. 84-412, p. 963, §7.)
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
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