§ 10-629. Payment of bonds

Latest version.

   (a) Payment of bonds. -- The Authority shall pay the bonds issued in accordance with this part only from the property or receipts of the Authority.

(b) Property and receipts of Authority. -- Property and receipts of the Authority include:

   (1) taxes, fees, charges, or other revenues payable to the Authority;

   (2) payments in accordance with letters of credit, lines of credit, insurance policies, or purchase agreements;

   (3) investment earnings from funds or accounts maintained in accordance with a bond resolution or trust agreement;

   (4) the proceeds of refunding bonds; and

   (5) any other source authorized by law.

HISTORY: FI § 13-712(a)(2); 2008, ch. 306, § 2; 2013, ch. 647, § 1.

                    
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