Code of Alabama
Article 7 - Acquisition, Construction, Financing, and Improvement of State Docks Facilities.
Section 33-2-193 - Docks Facilities Revenue Bonds and Refunding Bonds - Preservation of Outstanding Appropriations, Pledges and Covenants by State and Department.

It is the intention of the Legislature in enacting this article to preserve inviolate all appropriations and pledges heretofore made of any portion of any revenues of the department for the benefit of any of the outstanding bonds.
The state does hereby covenant and agree with the holder of each docks facilities revenue bond or refunding bond issued pursuant to the authority of this article that while any such bonds are outstanding and unpaid (a) neither the state nor the department will appropriate or pledge any portion of the docks facilities revenues for the benefit of any obligations that may at any time be issued pursuant to any statute, ranking on a parity with or superior to the pledge made for the benefit of docks facilities revenue bonds and refunding bonds herein authorized, provided that such covenant and agreement shall not be construed so as to limit the issuance of any obligations subordinate to such pledge, and (b) the state will not change or otherwise alter the duties, responsibilities, obligations or authority of the State Treasurer or the department as provided herein in a manner adverse to the interests of any holder of any docks facilities revenue bond or refunding bond issued under this article.

Structure Code of Alabama

Code of Alabama

Title 33 - Navigation and Watercourses.

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

Article 7 - Acquisition, Construction, Financing, and Improvement of State Docks Facilities.

Section 33-2-180 - Definitions.

Section 33-2-181 - Authorization to Issue Docks Facilities Revenue Bonds.

Section 33-2-182 - Authorization to Issue Refunding Bonds.

Section 33-2-183 - Docks Facilities Revenue Bonds and Refunding Bonds - Generally.

Section 33-2-184 - Docks Facilities Revenue Bonds and Refunding Bonds - Execution.

Section 33-2-185 - Docks Facilities Revenue Bonds and Refunding Bonds - Sale.

Section 33-2-186 - Docks Facilities Revenue Bonds and Refunding Bonds - Nature Of; Pledge; Negotiable Instruments.

Section 33-2-187 - Docks Facilities Revenue Bonds and Refunding Bonds - Exemption From Taxation; Use to Secure Deposit and for Investment of Fiduciary Funds Authorized.

Section 33-2-188 - Docks Facilities Revenue Bonds and Refunding Bonds - Disposition of Proceeds of Refunding Bonds.

Section 33-2-189 - Docks Facilities Revenue Bonds and Refunding Bonds - Disposition of Proceeds of Docks Facilities Revenue Bonds.

Section 33-2-190 - Docks Facilities Revenue Bonds and Refunding Bonds - Defeasance.

Section 33-2-191 - Docks Facilities Revenue Bonds and Refunding Bonds - Continuation of Special Charges.

Section 33-2-192 - Docks Facilities Revenue Bonds and Refunding Bonds - Pledge.

Section 33-2-193 - Docks Facilities Revenue Bonds and Refunding Bonds - Preservation of Outstanding Appropriations, Pledges and Covenants by State and Department.

Section 33-2-194 - Docks Facilities Revenue Bonds and Refunding Bonds - Covenant by Department to Maintain Charges and Other Fees.

Section 33-2-195 - State Treasurer to Disburse Funds.

Section 33-2-196 - Reserve Funds for Outstanding Bonds.

Section 33-2-200 - Definitions.

Section 33-2-201 - Special Purpose Obligations.

Section 33-2-202 - Short-Term Obligations.

Section 33-2-203 - Security for Obligations.