Alabama § 33-2-194 Docks Facilities Revenue Bonds and Refunding Bonds - Covenant by Department to Maintain Charges and Other Fees

Alabama Statutes

§ 33-2-194 — Docks Facilities Revenue Bonds and Refunding Bonds - Covenant by Department to Maintain Charges and Other Fees

Alabama § 33-2-194

Title 33Navigation and Watercourses

Ch. 2Development of Docks and Other Facilities Along Inland Waterways

Art. 7Acquisition, Construction, Financing, and Improvement of State Docks Facilities

This text of Alabama § 33-2-194 (Docks Facilities Revenue Bonds and Refunding Bonds - Covenant by Department to Maintain Charges and Other Fees) 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 § 33-2-194 (2026).

Text

For the benefit of the holders from time to time of the docks facilities revenue bonds and the refunding bonds herein authorized, and in order to secure maximum prices for said bonds, and in consideration of the purchase and acceptance of said bonds by such holders, the department may, in any order of the director authorizing the issuance of docks facilities revenue bonds or refunding bonds, irrevocably covenant and agree that while any of such docks facilities revenue bonds or refunding bonds are outstanding and unpaid, all charges, including special handling and processing charges, tariffs, surcharges, and other fees of the department shall be maintained at such levels as the department shall specify.

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For the benefit of the holders from time to time of the docks facilities revenue bonds and the refunding bonds herein authorized, and in order to secure maximum prices for said bonds, and in consideration of the purchase and acceptance of said bonds by such holders, the department may, in any order of the director authorizing the issuance of docks facilities revenue bonds or refunding bonds, irrevocably covenant and agree that while any of such docks facilities revenue bonds or refunding bonds are outstanding and unpaid, all charges, including special handling and processing charges, tariffs, surcharges, and other fees of the department shall be maintained at such levels as the department shall specify.