Alabama Code (Last Updated: November 28, 2014) |
Title14 CRIMINAL CORRECTIONAL AND DETENTION FACILITIES. |
Chapter2. ALABAMA CORRECTIONS INSTITUTION FINANCE AUTHORITY. |
§14-2-24. Obligations, bonds and notes not debt of state.
Latest version.
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All obligations incurred by the authority and all bonds and notes issued by it shall be solely and exclusively an obligation of the authority, payable solely from the revenues and income which may under the provisions of this chapter be pledged to the payment thereof. No obligation incurred by the authority and no bond or note issued by it shall create an obligation or debt of the state.