Code of Alabama
Article 1 - 1957 Provisions for Facilities Along Inland Waterways.
Section 33-2-11 - Faith and Credit of State Pledged to Payment of Bonds.

For the payment of both the principal and interest of all bonds issued under the authority of this article according to their tenor, the full faith and credit of the State of Alabama is hereby pledged. If the funds supplied by the Alabama State Docks Department to the State Treasurer from the sources prescribed by this article are insufficient to fully pay at maturity any installment of interest on said bonds or to pay at maturity the principal of said bonds, then the deficiency shall be paid by the State Treasurer from any funds in the state treasury not otherwise appropriated.

Structure Code of Alabama

Code of Alabama

Title 33 - Navigation and Watercourses.

Chapter 2 - Development of Docks and Other Facilities Along Inland Waterways.

Article 1 - 1957 Provisions for Facilities Along Inland Waterways.

Section 33-2-1 - Authority of State and State Docks Department Generally.

Section 33-2-2 - Maximum Cost of Development.

Section 33-2-3 - Acquisition, Construction, Maintenance, Operation, etc., of Facilities; Plans and Survey; Limitation Upon Right of Eminent Domain.

Section 33-2-4 - Powers and Duties of Department Under Article Cumulative.

Section 33-2-5 - Power of Eminent Domain Generally.

Section 33-2-6 - How Property and Rights-of-Way May Be Acquired; Eminent Domain Proceedings.

Section 33-2-7 - Department May Contract Current Indebtedness.

Section 33-2-8 - General Provisions Relative to Inland Waterways Improvement Bonds and Temporary Loans.

Section 33-2-9 - Application of Proceeds of Facilities; Payment of Deficiency Where Proceeds Are Insufficient to Cover Expenses.

Section 33-2-10 - Cost of Each Unit to Be Ascertained, etc.; Sinking Fund.

Section 33-2-11 - Faith and Credit of State Pledged to Payment of Bonds.

Section 33-2-12 - Rates and Charges for Use of Facilities.

Section 33-2-13 - Department to Make Reports to Legislature.

Section 33-2-14 - Exercise of Authority by Governor and Department; Evidence of Approval and Consent of Governor and Department.

Section 33-2-15 - No Prior Indebtedness to Be Paid From Funds Received.

Section 33-2-16 - Revocation and Suspension of Licenses to Occupy State Property.

Section 33-2-17 - Bonds and Interest Exempt From Taxation.

Section 33-2-18 - Article Cumulative; Legislative Intent.