Alabama § 41-10-675 Pledge and Appropriation of Pledged Revenues

Alabama Statutes

§ 41-10-675 — Pledge and Appropriation of Pledged Revenues

Alabama § 41-10-675

JurisdictionAlabama

Title 41State Government

Ch. 10Authorities

Art. 17Alabama 21st Century Authority

Div. 3Job Development Act of 2001

This text of Alabama § 41-10-675 (Pledge and Appropriation of Pledged Revenues) 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 § 41-10-675 (2026).

Text

There is hereby irrevocably pledged and appropriated such amount of pledged revenues deposited in the special fund, and earnings thereon, as may be necessary to pay and to redeem prior to their respective maturities the principal, interest, and premium, if any, on the bonds; provided, however that the bonds may not be issued in principal amounts and maturities such that the debt service payable on such bonds may ever be greater than the amounts permitted by the Enabling Act.

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There is hereby irrevocably pledged and appropriated such amount of pledged revenues deposited in the special fund, and earnings thereon, as may be necessary to pay and to redeem prior to their respective maturities the principal, interest, and premium, if any, on the bonds; provided, however that the bonds may not be issued in principal amounts and maturities such that the debt service payable on such bonds may ever be greater than the amounts permitted by the Enabling Act.