AL · constitutions
Ala. Const. art. XI, § 213.18
Issuance of Revenue Securities by Institutions of Learning
Revenue bonds and other securities at any time issued by or on behalf of any state university, college or institution of learning for the purpose of acquiring, constructing and equipping any new building or facility or for the purpose of enlarging, extending or improving any existing building or facility shall not be deemed to constitute debt of the state within the meaning of section 213, as amended, of the Constitution, if by their terms such bonds or other securities are not made a charge on the general credit or tax revenues of the state but are made payable solely out of revenues derived from the operation of any existing building or buildings or facility or facilities as well as from the new building or facility to be acquired or constructed with the proceeds thereof or from the enlargements, extensions or improvements to any existing building or facility to be acquired or constructed with the proceeds thereof.
Provenance
- Source
- alison.legislature.state.al.us
- Retrieved
- 2026-09-24
- Edition
- 2026-09-24
- Content hash
bd72fdb59a800d5127b2082a2dc379ba15c1545bb039326aac92f3556c943494
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