Section 10-629 - Payment of bonds.
§ 10-629. Payment of bonds.
(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.
[FI § 13-712(a)(2); 2008, ch. 306, § 2.]