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2020 Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 3 - Provisions Applicable to Counties and Municipal Corporations.
Chapter 92C
Section 11-92C-14 - Liability of Authorizing Subdivision.
Universal Citation: AL Code § 11-92C-14 (2020)
Section 11-92C-14
Liability of authorizing subdivision.
An authorizing subdivision shall not in any event be liable for the payment of the principal of, or interest on, any bonds of the authority or for the performance of any pledge, mortgage, obligation, or agreement of any kind whatsoever which may be undertaken by an authority, and none of the bonds of the authority or any of its agreements or obligations shall be construed to constitute indebtedness of the authorizing subdivision within the meaning of any constitutional or statutory provision.
(Act 2020-72, §14.)
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