Neither the county, nor any municipality located therein, shall be liable for the payment of principal of or interest on any bonds of the corporation or for the performance of any pledge, mortgage, obligation, or agreement of any kind whatsoever which may be undertaken by the corporation, and none of the bonds of the corporation or any of its agreements or obligations shall be construed to constitute an indebtedness of the county or any municipality located therein within the meaning of any constitutional or statutory provision whatsoever. However, nothing contained in this section shall be construed to effect or alter the obligations or liabilities of the county or any municipality to the corporation regarding contracts or agreements made by the county or municipality for the development of an industrial park.
Structure Code of Alabama
Article 9 - Economic and Industrial Development and Tourism.
Section 45-49-90 - Definitions.
Section 45-49-90.01 - Purpose; Liberal Construction.
Section 45-49-90.02 - Authority to Incorporate; Participation of Municipality.
Section 45-49-90.03 - Certificate of Incorporation - Requirements.
Section 45-49-90.04 - Certificate of Incorporation - Filing, Approval, and Recording.
Section 45-49-90.05 - Certificate of Incorporation Amendments.
Section 45-49-90.06 - Board of Directors.
Section 45-49-90.07 - Powers of Corporation; Location of Industrial Park.
Section 45-49-90.08 - Bonds of the Corporation.
Section 45-49-90.09 - Notice of Bond Resolution.
Section 45-49-90.10 - Liability of County or Municipalities.
Section 45-49-90.11 - Earnings of the Corporation.
Section 45-49-90.12 - Dissolution of Corporation.
Section 45-49-90.13 - Recording of Instruments.
Section 45-49-90.14 - Exemption From Taxation.