§ 13-1019. Bonds payable from receipts of Authority

Latest version.

   The bonds of any issue shall be payable solely from the property or receipts of the Authority, including, without limitation:

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

   (2) Payments by financial institutions, insurance companies, or others pursuant to letters or lines of credit, policies of insurance, or purchase agreements;

   (3) Investment earnings from funds or accounts maintained pursuant to a bond resolution or trust agreement;

   (4) Proceeds of refunding bonds; and

   (5) Any other source authorized by law.

HISTORY: 1993, ch. 544.

                    
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