Alabama Code (Last Updated: November 28, 2014)

§16-48-3. Interest on federal fund paid by state.

Latest version.

For the payment of the interest, at the rate of eight percent per annum, on the fund of $253,500.00 arising from the sale of the script for the land donated in trust to this state by the act of Congress of July 2, 1862, the faith and credit of the state are forever pledged.

(School Code 1927, §523; Code 1940, T. 52, §476.)

                    
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