Whenever revenue bonds are issued hereunder, it shall be the duty of the governing body to impose, in connection with the revenues and proceeds pledged for their payment, tolls, rates, charges, fees, license taxes, other excise taxes or quasi-excise taxes fully sufficient to pay the principal of and interest on the bonds, and to carry out all commitments made in the proceedings authorizing their issuance.
History: 1953 Comp., § 6-9-23, enacted by Laws 1959, ch. 300, § 23.