9-21-307 - Revenue bonds of the same issue shall be equally and ratably secured.
9-21-307. Revenue bonds of the same issue shall be equally and ratably secured.
All revenue bonds of the same issue shall be equally and ratably secured, without priority by reason of number, date of bonds, date of sale, date of execution, or of delivery, by a lien upon the revenues of the public works project or projects, the revenues of which are pledged to the payment of such bonds, in accordance with the provisions of this part and the resolution authorizing the issuance of the revenue bonds.
[Acts 1986, ch. 770, § 3-7.]