An authority shall be exempt from all laws of the state now or hereafter governing usury or prescribing or limiting interest rates, including without limitation the provisions of Chapter 8 of Title 8. (Act 2000-106, p. 129, §17.)
Exemption from Usury and Interest Laws
Ala. Code § 11-86A-17, under Public Park and Recreation Authorities.
Ala. Code § 11-86A-17