9-51-15. Contents of resolution or ordinance--Covenants and agreements with bondholders.
68 words·~1 min read·
/sd/title-9/chapter-9-51/9-51-15A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The resolution or ordinance described in § 9-51-14 shall be as provided in chapter 6-8B and shall designate a special fund from which the principal and interest shall be payable, shall fix and define the net revenues appropriated and pledged to the special fund and shall contain the covenants and agreements which are to be in effect between the municipality and the purchasers and holders of the bonds.