Section 41-10-630 Pledge and appropriation of tobacco revenues to redeem bonds. - Alabama Statutes

Section 41-10-630

Pledge and appropriation of tobacco revenues to redeem bonds.

There is hereby irrevocably pledged and appropriated such amounts of tobacco revenues retained in the special fund, and earnings thereon, as shall be necessary to pay and to redeem prior to their respective maturities the principal, interest, and premium, if any, on the authority's bonds and to pay the principal of and the interest on any refunding bonds issued to refund such bonds.

(Act 99-353, p. 538, §11.)