(a) Redevelopment bonds and notes are payable out of the special fund created for each redevelopment district under this subchapter.
(b) (1) The local governing body shall irrevocably pledge all or part of the special fund to the payment of the bonds or notes.
(2) The special fund, or the designated part thereof, may thereafter be used only for the payment of the bonds or notes and their interest until they have been fully paid.
(c) A holder of the bonds or notes shall have a lien against the special fund for payment of the bonds or notes and interest on them and may bring suit, either at law or in equity, to enforce the lien.
Section: Previous 14-168-311 14-168-312 14-168-313 14-168-314 14-168-315 14-168-316 14-168-317 14-168-318 14-168-319 14-168-320 14-168-321 14-168-322 14-168-323 14-168-324 NextLast modified: November 15, 2016