1-16A-42. Bonds payable only from revenues.
66 words·~1 min read·
/sd/title-1/chapter-1-16/1-16a-42A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
All bonds issued by the authority shall be payable solely out of the revenues and receipts derived from the leasing or sale by the authority of the facilities concerned or of any thereof as may be designated in the resolutions of the authority under which the bonds shall be authorized to be issued or as may be designated in a trust indenture authorized by the authority.