Alabama § 41-10-325 - Lease of Vacant Facilities to Prevent Default on Bonds.
Full text of Alabama Code of Alabama § 41-10-325 — Lease of Vacant Facilities to Prevent Default on Bonds., with citation guidance and answers to common questions.
§ 41-10-325. Lease of Vacant Facilities to Prevent Default on Bonds.
If at any time any facility constructed or acquired by the authority is, or is about to be, vacant or unused as a result of there being no lease for such facility in effect for the current fiscal year, then, but only in such event, in order to prevent default on its bonds, the authority is hereby authorized to lease such facility to any other agency, department, bureau, or commission of the state, any municipal corporation, public corporation, county, or other public body in the state, or any agency of the federal government. Any such lease shall not be for the purpose of lending public credit but shall be solely to avoid default on the authority’s bonds and to insure the prompt payment of the principal thereof and interest thereon when due.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 41-10-325
What does Code of Alabama § 41-10-325 cover?
Section 41-10-325 ("Lease of Vacant Facilities to Prevent Default on Bonds.") 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 § 41-10-325?
A common citation format is "Code of Alabama § 41-10-325" (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 § 41-10-325 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.