§ 43.160.160. Security
In order to assure payment of the bonds, the board shall consider and may require users to provide appropriate security. Such security may include but is not limited to letters of credit, deeds of trust, guarantees, mortgage insurance or cash reserves. If federal funds are used to provide additional security for the protection of bond purchasers the board shall require a credit analysis by a financial institution of each user of an umbrella board [bond] in order to ensure the marketability of the bonds.
[1984 c 257 § 9.]
Sections: Previous 43.160.080 43.160.090 43.160.100 43.160.120 43.160.130 43.160.140 43.160.150 43.160.160 43.160.170 43.160.200 43.160.210 43.160.220 43.160.230 43.160.240 43.160.900 Next
Last modified: April 7, 2009