Alabama § 41-10-370 Payment of Principal and Interest on Bonds and Maintenance of Records Pertaining Thereto by State Treasurer

Alabama Statutes

§ 41-10-370 — Payment of Principal and Interest on Bonds and Maintenance of Records Pertaining Thereto by State Treasurer

Alabama § 41-10-370

Title 41State Government

Ch. 10Authorities

Art. 11Alabama Mental Health Finance Authority

This text of Alabama § 41-10-370 (Payment of Principal and Interest on Bonds and Maintenance of Records Pertaining Thereto by State Treasurer) 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 § 41-10-370 (2026).

Text

Out of the revenues appropriated and pledged in Section 41-10-365 of this article, the State Treasurer is authorized and directed to pay the principal of and interest on the bonds at the respective maturities of the said principal and interest, and he or she is further authorized and directed to set up and maintain appropriate records pertaining thereto. In the event that the State Treasurer designates any bank as the paying agent with respect to any bonds, the State Treasurer shall make available to such bank, not later than one business day prior to the date on which any principal of or interest on such bonds is due and payable, funds sufficient to pay such principal and interest due on such date.

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Out of the revenues appropriated and pledged in Section 41-10-365 of this article, the State Treasurer is authorized and directed to pay the principal of and interest on the bonds at the respective maturities of the said principal and interest, and he or she is further authorized and directed to set up and maintain appropriate records pertaining thereto. In the event that the State Treasurer designates any bank as the paying agent with respect to any bonds, the State Treasurer shall make available to such bank, not later than one business day prior to the date on which any principal of or interest on such bonds is due and payable, funds sufficient to pay such principal and interest due on such date.