Alabama § 41-10-570 Pledge and Appropriation of State Revenues from Tva Payments to Pay and Redeem Bonds Prior to Maturity

Alabama Statutes

§ 41-10-570 — Pledge and Appropriation of State Revenues from Tva Payments to Pay and Redeem Bonds Prior to Maturity

Alabama § 41-10-570

JurisdictionAlabama

Title 41State Government

Ch. 10Authorities

Art. 16Alabama Incentives Financing Authority

Div. 2Pledge and Appropriation of Tva Payments to Redeem Bonds

This text of Alabama § 41-10-570 (Pledge and Appropriation of State Revenues from Tva Payments to Pay and Redeem Bonds Prior to Maturity) 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 § 41-10-570 (2026).

Text

There is hereby irrevocably pledged and appropriated such amounts as may be necessary to pay and to redeem prior to their respective maturities the principal of and the interest on any issue of bonds or to pay the principal of and the interest on any refunding bonds issued to refund any revenue bonds that shall be issued by the Alabama Incentives Finance Authority from the revenues retained by the State of Alabama from the in-lieu-of-taxes payments made by the Tennessee Valley Authority (which are herein called the “TVA payments”) following the distribution of a portion of such TVA payments to certain counties in the State of Alabama as provided in Section 40-28-2, and following the pledge and appropriation of TVA payments pursuant to Section 41-9-783, for the Tennessee Valley Exhibit Comm

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There is hereby irrevocably pledged and appropriated such amounts as may be necessary to pay and to redeem prior to their respective maturities the principal of and the interest on any issue of bonds or to pay the principal of and the interest on any refunding bonds issued to refund any revenue bonds that shall be issued by the Alabama Incentives Finance Authority from the revenues retained by the State of Alabama from the in-lieu-of-taxes payments made by the Tennessee Valley Authority (which are herein called the “TVA payments”) following the distribution of a portion of such TVA payments to certain counties in the State of Alabama as provided in Section 40-28-2, and following the pledge and appropriation of TVA payments pursuant to Section 41-9-783, for the Tennessee Valley Exhibit Commission Bonds outstanding on July 20, 1995.