All moneys received by the authority pursuant to this chapter shall be deemed to be trust funds for the holders of the bonds and interest coupons thereto appertaining and shall be held and applied for the benefit of the bondholders of the respective issues as provided in this chapter and as provided in the authorizing resolutions of the authority.
Structure Code of Alabama
Chapter 18A - Private Colleges and Universities Facilities Authority.
Section 16-18A-1 - Short Title.
Section 16-18A-2 - Definitions.
Section 16-18A-3 - Creation of Authority; Members, Organization, Etc.
Section 16-18A-4 - Powers and Duties.
Section 16-18A-6 - Revenue Bonds - Contracts to Secure Payment.
Section 16-18A-7 - Revenue Bonds - Creation of Statutory Mortgage Lien; Recording.
Section 16-18A-8 - Use of Proceeds From Sale.
Section 16-18A-9 - Exemptions From Taxation, Fees and Costs.
Section 16-18A-10 - Venue and Jurisdiction.
Section 16-18A-11 - Interest of Bondholders Protected; Enforceability.