Code of Alabama - Title 11: Counties and Municipal Corporations - Section 11-81-148 - Exercise of municipal or county taxing power, etc., for payment of bonds

Section 11-81-148 - Exercise of municipal or county taxing power, etc., for payment of bonds.

No holder or holders of any bonds issued under this division shall ever have the right to compel any exercise of the taxing power of the municipality or county or the payment of any funds other than the revenue from such undertaking to pay said bonds or the interest thereon, and every bond issued under this division shall contain a recital to that effect.

(Acts 1935, No. 154, p. 195; Code 1940, T. 37, §349.)

Last modified: May 3, 2021