Section 41-9-434 Pledge of revenues and income of commission for security and payment of general obligation bonds. - Alabama Statutes

Section 41-9-434

Pledge of revenues and income of commission for security and payment of general obligation bonds.

Any general obligation bonds shall also be payable from and secured by a pledge of the revenues and income of the commission remaining after the payment of the reasonable and necessary expenses of operating and maintaining the facilities to be constructed by the commission.

(Acts 1965, No. 863, p. 1605, §6a.)