Archive for date: December 3rd, 2024

Every bonds licensed by the subsections step 1 to 3, inclusive, should

3. The state may also issue revenue bonds for the purpose of providing part or all of the funds required for any project undertaken under subsection 1, payable solely from sums genuineized from payments of principal and interest on money loaned for such project, and from other similar projects if so determined by the legislaure legislative assembly and from the liquidation of security given for such payments. Revenue bonds issued for any project shall may not exceed the cost thereof of the enterprise, including all expenses reasonably incurred to complete and finance the project, but shall ount.

Its duty in terms of bonds awarded below subsection step 3 should

4. need be pledged for the prompt and full payment of all bonds issued under subsection 2. must be limited to the prompt and full performance of such covenants as the legislature https://paydayloansconnecticut.com/bristol/ legislative construction may authorize to be made respecting the enforcing of the provisions of underlying loan agreements and the segregation, accounting, and application of bond proceeds and of loan payments and other security pledged for the payment of the bonds. must mature within forty years from their respective dates of issue, but may be refunded at or before maturity in such manner and for such term and upon such conditions as the legislature legislative construction may direct. Any such bonds may, but need not be, secured by mortgage upon real or personal property acquired with the proceeds of the same or any other issue of general obligation or revenue bonds, or upon other property mortgaged by the debtor. Pledges of revenues and mortgages of property securing bonds of any issue may be prior or subordinate to or on a parity with pledges and mortgages securing any other issue of general obligation or revenue bonds, as determined by the legislature legislative installation from time to time in conformity with any provisions made for the security of outstanding bonds. Read more