49-16B-24. Borrowing money and issuing bonds authorized--Refunding and refinancing--Pledge of income and revenues.
113 words·~1 min read·
/sd/title-49/chapter-49-16/49-16b-24A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
To accomplish projects of the kind listed in § 49-16B-10 , the authority may borrow money and issue and sell bonds in such amount or amounts as the authority may determine for the purpose of acquiring, improving or equipping any such facility; refund and refinance the same from time to time as often as advantageous and in the public interest to do so; and pledge any and all income of such authority, and any revenues derived by the authority from such facilities, or any combination thereof, to secure the payment of such bonds and redeem such bonds. All such bonds shall be subject to the provisions of §§ 49-16B-25 to 49-16B-30 , inclusive.