The proceeds from the sale of any of the bonds shall be paid into the state treasury and kept by the State Treasurer in a separate account and paid over to the secretary-treasurer of the department from time to time in such amounts as shall be directed by the Governor and the money so paid over to the secretary-treasurer of the department shall be held and used only for the accomplishment of the purposes of this article, and specifically for payment of the cost of acquiring, by construction or otherwise, maintaining and operating, or any of them, dock facilities along navigable streams and waterways now or hereafter existing within the state, in aid of commerce and use of navigable waterways of the state. The cost of acquiring any dock facilities shall be deemed to include, inter alia, (1) fees of engineers and attorneys and other expenses incidental to such acquisition; (2) the cost of issuing those of the bonds that may be issued to provide funds for such acquisition; and (3) interest on such bonds during such period of time, not exceeding three years from the date of the completion of said dock facilities, as may be specified in the order or resolution authorizing the issuance of such bonds as the period of time estimated by the department to be required for placing the said dock facilities in profitable operation.
Structure Code of Alabama
Title 33 - Navigation and Watercourses.
Chapter 2 - Development of Docks and Other Facilities Along Inland Waterways.
Article 2 - 1959 Provisions for Facilities Along Inland Waterways.
Section 33-2-30 - Definitions.
Section 33-2-31 - Dock Facilities at Additional Cost of $3,500,000.00 Authorized.
Section 33-2-32 - Authorized Cost Additional; Total Cost to State.
Section 33-2-34 - Authority, etc., of Department Under Article Cumulative.
Section 33-2-35 - How Property and Rights-of-Way May Be Acquired; Eminent Domain Proceedings.
Section 33-2-36 - Department May Contract Current Indebtedness.
Section 33-2-37 - General Provisions Relative to Additional Inland Waterways Improvement Bonds.
Section 33-2-38 - Requirements for Sale of Bonds.
Section 33-2-39 - Disposition of Proceeds From Sale of Bonds.
Section 33-2-40 - Application of Revenues From Dock Facilities.
Section 33-2-41 - Separate Records as to Each Unit of Development.
Section 33-2-42 - Rates and Charges for Use of Facilities.
Section 33-2-43 - Revocation or Cancellation of Licenses to Occupy State Property.