As security for the payment of any obligations agreed to in any swap agreement, as defined in subdivision (3) of Section 41-1-41, the department may pledge for payment of the obligations, all or any part of its docks facilities revenues; provided, however, that any pledge of its docks facilities revenues, in the discretion of the department, may be on parity with or subordinate to the pledge securing any of its docks facilities revenue bonds or other obligations.
Structure 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 33-2-190 - Docks Facilities Revenue Bonds and Refunding Bonds - Defeasance.
Section 33-2-192 - Docks Facilities Revenue Bonds and Refunding Bonds - Pledge.
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.