Each authority shall be exempt from the laws of the state governing usury or prescribing or limiting interest rates, including, without limitation, the provisions of Chapter 8 of Title 8. (Acts 1996, No. 96-320, p. 361, §11.)
Exemption from State Laws Governing Usury or Prescribing or Limiting Interest Rates
Ala. Code § 11-47-229, under Parks, Playgrounds, and Other Recreational and Athletic Areas and Facilities.
Ala. Code § 11-47-229