The Commission shall have the power and is authorized to refund the outstanding series of the revenue bonds authorized by this act. The Commission shall pledge to the payment of the principal and interest of the refunded bonds all or any part of the revenues derived from the operation of the parks and lodges controlled and operated by the Commission. If not prohibited by the terms of the revenue bonds, interest earnings on construction funds may be utilized by the Commission as provided by law.
Added by Laws 2005, c. 363, § 58, eff. Nov. 1, 2005.