Code of Alabama
Article 11 - Alabama Mental Health Finance Authority.
Section 41-10-366 - Contracts, etc., Do Not Create Obligations of State.

All contracts made, obligations incurred and bonds issued by the authority shall be solely and exclusively obligations of the authority and shall not create obligations or debts of the state.

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Structure Code of Alabama

Code of Alabama

Title 41 - State Government.

Chapter 10 - Authorities.

Article 11 - Alabama Mental Health Finance Authority.

Section 41-10-350 - Legislative Findings and Purpose.

Section 41-10-351 - Definitions.

Section 41-10-352 - Authority for Incorporation of Alabama Mental Health Finance Authority; Members.

Section 41-10-353 - Application for Authority to Incorporate.

Section 41-10-354 - Certificate of Incorporation; No Fee or Compensation to Secretary of State.

Section 41-10-355 - Members of Authority; Officers; Payment of Bonds of Authority; Quorum; Vacancies; Compensation; Record of Proceedings and Use Thereof as Evidence; Meetings.

Section 41-10-356 - Powers of Authority.

Section 41-10-357 - Authorization to Issue Bonds; Limitation on Use of Proceeds.

Section 41-10-358 - Form, Terms, Denominations, etc., of Bonds; Limitation on Maturity Date, Redemption.

Section 41-10-359 - Execution and Delivery of Bonds; Designation of Bonds for Community Facilities.

Section 41-10-360 - Sale of Bonds at Public Auction; Rejection of Bids; Notice of Sale; Terms and Conditions of Sale; Expenses, Fees, etc.; Recital That Bonds Issued Pursuant to Article.

Section 41-10-361 - Liability Upon Bonds of Authority; Authorization of Authority to Pledge for Payment of Principal and Interest of Bonds; Bonds Deemed Negotiable Instruments.

Section 41-10-362 - Exemption From Taxation of Bonds and Income of Authority; Use of Bonds as Security for Deposits of State Funds; Investment of Trust Funds in Bonds.

Section 41-10-363 - Refunding Bonds; Proceeds of Sale of Refunding Bonds.

Section 41-10-364 - Proceeds of Bonds, Other Than Refunding Bonds; Special Fund to Pay Costs of Acquisition, Construction, etc., of Mental Health Facilities; Such Work Supervised by Building Commission; Such Work Subject to Competitive Bidding; Dispo...

Section 41-10-365 - Sinking Fund for Payment of Principal and Interest on Bonds of Authority.

Section 41-10-366 - Contracts, etc., Do Not Create Obligations of State.

Section 41-10-367 - Investment of Surplus Proceeds From Sale of Bonds; Disbursement of Income Derived From Such Investments.

Section 41-10-368 - Authority Is Nonprofit Corporation.

Section 41-10-369 - Dissolution of Authority; Disposition of Property Upon Dissolution of Authority.

Section 41-10-370 - Payment of Principal and Interest on Bonds and Maintenance of Records Pertaining Thereto by State Treasurer.

Section 41-10-371 - Power of Authority to Pay and Make Agreements With the United States to Exempt Interest of Bonds From Federal Income Tax.