The board may provide for constructive notice of any statutory mortgage lien, authorize and make provisions respecting the assumption by the authority of obligations respecting facilities and other property acquired by the authority; provide for the use of the proceeds of bonds and notes issued by the authority; provide for the refunding by the issuance of bonds and notes of the authority of bonds and notes theretofore issued or obligations theretofore assumed by it. Bonds and notes issued and contracts entered into by the authority pursuant to this article shall not constitute or create a debt of the state or of any county, municipality, or other political subdivision of the state.
Structure Code of Alabama
Article 9 - Economic and Industrial Development and Tourism.
Section 45-18-90 - Applicability.
Section 45-18-90.02 - Issuance of Bonds and Notes.
Section 45-18-90.03 - Bonds and Notes of Authority.
Section 45-18-90.04 - Powers and Obligations of Board.
Section 45-18-90.05 - Contribution of Funds; Taxation.
Section 45-18-90.06 - Zoning, Eminent Domain, and Regulation of On-Site Sewage Systems.
Section 45-18-90.07 - Exemption From Regulation and Supervision; Use of Public Roads.
Section 45-18-90.08 - No Authority to Levy Tax; Veto of Actions.
Section 45-18-90.09 - Contracts With Other Authorities; Grants.