Alabama § 2-6-119 - Pledge for Payment of Principal and Interest on Bonds; Filing with Judge of Probate.
Full text of Alabama Code of Alabama § 2-6-119 — Pledge for Payment of Principal and Interest on Bonds; Filing with Judge of Probate., with citation guidance and answers to common questions.
§ 2-6-119. Pledge for Payment of Principal and Interest on Bonds; Filing with Judge of Probate.
In the proceedings authorizing the issuance of any of its bonds, the corporation is authorized and empowered to pledge for the payment of the principal of and interest on bonds at the respective maturities of the principal and interest, and to agree to use solely for such purpose, all the revenues which under the provisions of Section 2-6-118 are provided for the payment of the principal and interest, subject to prior pledges as and to the extent the corporation may provide. Upon the issuance of any bonds pursuant to this article, the corporation may file in the office of the Judge of Probate of Montgomery County, Alabama, an instrument reciting the issuance of the bonds and the pledge of the revenues as security, and the filing of the instrument shall constitute constructive notice of the pledge. The instrument shall be received and recorded by the judge of probate upon the payment of the fee for the recording of mortgages, but no tax shall be payable.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 2-6-119
What does Code of Alabama § 2-6-119 cover?
Section 2-6-119 ("Pledge for Payment of Principal and Interest on Bonds; Filing with Judge of Probate.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 2-6-119?
A common citation format is "Code of Alabama § 2-6-119" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 2-6-119 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.