(a) The principal of, premiums, if any, interest on, and trustees' and paying agents' fees in connection with the bonds shall be secured by a lien on and pledge of, and shall be payable from, the pledged revenues defined in ยง 14-95-608.
(b) The authorizing resolution or trust indenture shall set forth details of the nature and extent of the lien and pledge, including provisions for the use of surplus revenues, if any, for any other lawful purposes.
Section: Previous 14-95-602 14-95-603 14-95-604 14-95-605 14-95-606 14-95-607 14-95-608 14-95-609 14-95-610 NextLast modified: November 15, 2016