The municipality shall not in any event be liable for the payment of the principal of or interest on any bonds of the corporation or for the performance of any pledge, mortgage, obligation or agreement of any kind whatsoever which may be undertaken by the corporation, and none of the bonds of the corporation or any of its agreements or obligations shall be construed to constitute an indebtedness of the municipality within the meaning of any constitutional or statutory provision whatsoever.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 2 - Provisions Applicable to Municipal Corporations Only.
Chapter 59 - Public Athletic Boards.
Section 11-59-1 - Definitions.
Section 11-59-2 - Legislative Intent; Construction of Chapter Generally.
Section 11-59-4 - Certificate of Incorporation - Contents; Execution and Acknowledgment.
Section 11-59-6 - Certificate of Incorporation - Amendment.
Section 11-59-7 - Board of Directors.
Section 11-59-8 - Powers of Corporations Generally.
Section 11-59-10 - Bonds - Security for Payment of Principal and Interest; Remedies Upon Default.
Section 11-59-12 - Conveyances of Properties to Corporations by Municipalities.
Section 11-59-13 - Powers of Corporations as to Conveyances, etc., of Title to Facilities.
Section 11-59-16 - Exemption From Taxation of Corporations, Facilities, Bonds, Etc.