Bonds, Notes, or Other Evidences of Indebtedness Equally and Ratably Secured by Lien

Checkout our iOS App for a better way to browser and research.

Sec. 22. All bonds, notes, or other evidences of indebtedness of the same issue shall be equally and ratably secured, without priority because of:

(1) number or date of issue;

(2) sale;

(3) execution; or

(4) delivery;

by a lien upon the revenues in accordance with this chapter and the resolution authorizing issuance.

[Pre-1995 Recodification Citation: 13-3-4-8(e) part.]

As added by P.L.1-1995, SEC.26.


Download our app to see the most-to-date content.