48-153. Prior lien of bonds
All bonds of the same issue under this article shall have a prior and paramount lien on the revenue of the undertaking for which the bonds have been issued over and ahead of any claims or other obligations of any nature against that revenue subsequently arising or subsequently incurred. All bonds of the same issue under this article shall be equally and ratably secured, without priority by reason of number, date of bonds, sale, execution or delivery, by a lien on the revenue in accordance with the terms of the resolution authorizing the bonds.
Section: Previous 48-146 48-147 48-148 48-149 48-150 48-151 48-152 48-153 48-154 48-155 48-171 48-172 48-173 48-174 48-175 NextLast modified: October 13, 2016