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.
Structure Code of Alabama
Chapter 48 - Auburn University.
Section 16-48-1 - Body Corporate.
Section 16-48-2 - Corporate Powers.
Section 16-48-3 - Interest on Federal Fund Paid by State.
Section 16-48-4 - Organization and Conduct.
Section 16-48-5 - Trustees Divided Into Classes.
Section 16-48-6 - Vacancy in Office of Trustee.
Section 16-48-7 - Meetings of Board of Trustees.
Section 16-48-8 - Quorum of Trustees.
Section 16-48-9 - Expenses of Trustees.
Section 16-48-10 - Gifts Preserved.