There is hereby irrevocably pledged and appropriated such amount of pledged revenues deposited in the special fund, and earnings thereon, as may be necessary to pay and to redeem prior to their respective maturities the principal, interest, and premium, if any, on the bonds; provided, however that the bonds may not be issued in principal amounts and maturities such that the debt service payable on such bonds may ever be greater than the amounts permitted by the Enabling Act.
Structure Code of Alabama
Article 17 - Alabama 21st Century Authority.
Division 3 - Job Development Act of 2001.
Section 41-10-670 - Short Title.
Section 41-10-671 - Legislative Findings and Purpose.
Section 41-10-672 - Definitions.
Section 41-10-673 - Powers and Duties of the Authority.
Section 41-10-674 - Authorization to Issue Bonds.
Section 41-10-675 - Pledge and Appropriation of Pledged Revenues.
Section 41-10-676 - Use of Bond Proceeds.
Section 41-10-677 - Payment of Training Costs Directly Out of Pledged Revenues.
Section 41-10-678 - Appointments.