All moneys received by the authority pursuant to this chapter shall be deemed to be trust funds for the holders of the bonds 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 65 - Alabama Higher Education Equipment Loan Authority.
Section 16-65-1 - Short Title.
Section 16-65-2 - Legislative Intent.
Section 16-65-3 - Definitions.
Section 16-65-4 - Creation of Authority; Members, Organization, Etc.
Section 16-65-5 - Powers of Authority.
Section 16-65-6 - Bonds Generally.
Section 16-65-7 - Proceeds From the Sale of Bonds, Revenues, and Other Funds.
Section 16-65-8 - Dedicated Source of Revenue as Security for the Repayment of Equipment Loans.
Section 16-65-9 - Refunding Bonds.
Section 16-65-10 - Investment in Bonds.
Section 16-65-11 - Exemptions From Taxation, Fees, and Costs.
Section 16-65-12 - Venue and Jurisdiction.
Section 16-65-13 - Interest of Bondholders Protected; Enforceability.