§ 29-3-107 — Bond security

The principal of, the interest on, and any prior
redemption premiums due in connection with the bonds shall be payable from,
secured by a pledge of, and constitute a lien on the revenues out of which such
bonds shall be made payable. In addition, they may be secured by a mortgage
covering all or any part of the project or upon any other property of the user, or
both, by a pledge of the revenues from or a financing agreement for such project, or
both, as the governing body in its discretion may determine, but no county or
municipality shall be authorized hereby to pledge any of its property or to otherwise
secure the payment of any bonds with its property; except that the county or
municipality may pledge the property of the project or revenues therefrom.

Legislative History

Source: L. 67: p. 673, � 7. C.R.S. 1963: � 36-24-7. L. 73: p. 478, � 7. L. 75: Entire section amended, p. 968, � 4, effective July 14.