Alabama § 45-39-92.52 - Disposition of Funds.
Full text of Alabama Code of Alabama § 45-39-92.52 — Disposition of Funds., with citation guidance and answers to common questions.
§ 45-39-92.52. Disposition of Funds.
Expenditures from the special fund provided for in Section 45-39-92.51 shall be made exclusively for the purposes of paying principal of and interest on securities evidencing obligations incurred for payment for the Shoals Economic Development Project. All of the proceeds of the taxes herein authorized shall be specifically pledged by the Lauderdale County Commission to the payment of principal of and interest on the securities, whether such securities are issued by the county or by a local public corporation. The pledge of the taxes herein authorized for the payment of the principal of and interest on securities issued by Lauderdale County or a local public corporation, together with any applicable covenants of the county and the local public corporation relating to such pledge, shall have the force of contract between the county, the local public corporation, and the holders of the securities. The proceeds of the taxes may be deposited by the county or the State Department of Revenue, if the department is the collector of the taxes, directly with the paying agent or the trustee of the securities. Notwithstanding the foregoing provisions of this section, no monies from the special fund provided for in Section 45-39-92.51 and no proceeds of any securities shall be expended for any purpose on the Florence River Heritage Trail.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 45-39-92.52
What does Code of Alabama § 45-39-92.52 cover?
Section 45-39-92.52 ("Disposition of Funds.") 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 § 45-39-92.52?
A common citation format is "Code of Alabama § 45-39-92.52" (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 § 45-39-92.52 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.