7-37-108 - Lien on rentals.
7-37-108. Lien on rentals.
All bonds issued under this chapter shall have a lien upon the rentals from the industrial building for which the bonds have been issued, and from any other industrial building securing the bonds pursuant to resolution, mortgage or deed of trust as provided in this chapter, and the governing body may provide in the resolution or resolutions authorizing such bonds for the issuance of additional bonds to be equally and ratably secured by a lien upon such rentals, or may provide that the lien upon such rentals for future bonds shall be subordinate.
[Acts 1951, ch. 137, § 9 (Williams, § 4406.53i); 1955, ch. 344, § 5; T.C.A. (orig. ed.), § 6-1708.]