The city shall not in any event be liable for the payment of the principal of or interest on any bonds of the authority or for the performance of any pledge, mortgage, obligation, or agreement of any kind whatsoever which may be undertaken by the authority, and none of the bonds of the authority or any of its agreements or obligations shall be construed to constitute an indebtedness of the city, within the meaning of any constitutional or statutory provision whatsoever.
Structure Code of Alabama
Chapter 41A - Lee County Municipalities.
Part 1 - Downtown Development Authority.
Section 45-41A-10 - Legislative Intent.
Section 45-41A-10.01 - Definitions.
Section 45-41A-10.02 - Use of Particular Terms and Phrases.
Section 45-41A-10.03 - Application; Authorization of Incorporation.
Section 45-41A-10.04 - Incorporation Procedures; Contents and Execution of Certificate.
Section 45-41A-10.05 - Amendments to Certificate of Incorporation.
Section 45-41A-10.06 - Board of Directors.
Section 45-41A-10.07 - Officers of the Authority.
Section 45-41A-10.08 - Powers of Authority.
Section 45-41A-10.09 - Boards of the Authority.
Section 45-41A-10.10 - Proceeds From Sale of Bonds.
Section 45-41A-10.11 - Refunding Bonds.
Section 45-41A-10.12 - Notice of Bond Resolution.
Section 45-41A-10.13 - Exemption From Taxation.
Section 45-41A-10.14 - Liability of City.
Section 45-41A-10.15 - Exemption From Usury and Interest Laws.
Section 45-41A-10.16 - Exemption From Competitive Bid Laws.
Section 45-41A-10.17 - Freedom of the Authority From State Supervision and Control.
Section 45-41A-10.18 - Earnings of the Authority.
Section 45-41A-10.19 - Dissolution of Corporation.
Section 45-41A-10.20 - Existence of Authority to Prevent Subsequent Incorporation.