For the purpose of providing funds for the payment of the principal of and interest on the bonds issued by the authority under the provisions of this article, there is hereby created and irrevocably pledged to the payment of such obligations a special and continuing trust fund which shall consist of all receipts and income from rents contracted for and received by the authority under leases of the building or buildings constructed or renovated with the proceeds from sale of the bonds and any other income of the authority.
Structure Code of Alabama
Article 14 - Alabama Building Renovation Finance Authority.
Section 41-10-450 - Legislative Intent.
Section 41-10-451 - Definitions.
Section 41-10-452 - Power to Incorporate.
Section 41-10-453 - Provisions for Incorporation.
Section 41-10-454 - Consummation of Incorporation.
Section 41-10-455 - Members, Directors and Officers of Authority.
Section 41-10-456 - Powers of Authority.
Section 41-10-457 - Power of Condemnation.
Section 41-10-458 - Authorization of Bonds.
Section 41-10-458.1 - Definitions; Additional Authorization.
Section 41-10-458.2 - Issuance of Bonds - 2006 Authorization.
Section 41-10-459 - Refunding Bonds.
Section 41-10-460 - Execution of Bonds.
Section 41-10-461 - Sale of Bonds.
Section 41-10-462 - Bonds of Authority.
Section 41-10-463 - Investment of Proceeds From Sale of Bonds.
Section 41-10-464 - Exemption From Taxation.
Section 41-10-465 - Bonds Constitute Negotiable Instruments.
Section 41-10-466 - Obligations Not Debt of State.
Section 41-10-467 - Bonds May Be Used to Secure Deposit and for Investment of Fiduciary Funds.
Section 41-10-468 - Use of Proceeds From Sale of Bonds.
Section 41-10-469 - Use of Proceeds of Refunding Bonds.
Section 41-10-470 - Conveyance to Authority by State.
Section 41-10-471 - Creation of Fund for Benefit of Bonds.
Section 41-10-472 - Pledge and Lien for Benefit of Bonds.
Section 41-10-473 - State Treasurer to Disburse Funds.
Section 41-10-474 - Terms and Conditions of Leasing by Authority; Delinquent Lease Payments.
Section 41-10-475 - Presumption of Validity of Bonds and Publication of Notice Thereof.
Section 41-10-476 - Power to Make Payments and to Make Agreements Respecting Investment of Funds.