9-51-23. Net revenues pledged to payment of special obligation bonds--Additional covenants authorized.
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/sd/title-9/chapter-9-51/9-51-23·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Bonds authorized and issued under §§ 9-51-22 to 9-51-28 , inclusive, may be made payable as to both principal and interest out of the net revenues or moneys levied and appropriated as set forth in § 9-51-14 , provided that in the ordinance authorizing such bonds the governing body may on behalf of the municipality make any or all of the irrevocable covenants in §§ 9-51-24 to 9-51-28 , inclusive, with and for the benefit of the holders from time to time of said bonds.