Alabama § 41-9-435 - Liability Upon Revenue Bonds Issued by Commission.
Full text of Alabama Code of Alabama § 41-9-435 — Liability Upon Revenue Bonds Issued by Commission., with citation guidance and answers to common questions.
§ 41-9-435. Liability Upon Revenue Bonds Issued by Commission.
All revenue bonds issued by the commission shall be solely and exclusively the obligations of the commission and shall not create an obligation or debt of the state or of any county or of any municipality within the state. All revenue bonds issued by the commission for the purpose of providing lodging facilities shall be payable solely out of the revenues and receipts derived from the operation, leasing or sale by the commission of such lodging facilities as may be designated in the proceedings of the commission under which the bonds shall be authorized to be issued.
The principal of and interest on any such revenue bonds shall be secured by a pledge of the revenues and receipts out of which the same may be payable and may be secured by a mortgage and deed of trust or trust indenture conveying as security for such revenue bonds all or any part of the property of the commission from which the revenues or receipts so pledged may be derived.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 41-9-435
What does Code of Alabama § 41-9-435 cover?
Section 41-9-435 ("Liability Upon Revenue Bonds Issued by Commission.") 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 § 41-9-435?
A common citation format is "Code of Alabama § 41-9-435" (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 § 41-9-435 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.