Indiana § 5-20-2-11 Lien of bonds

Indiana Statutes

§ 5-20-2-11 — Lien of bonds

Indiana·Title 5 STATE AND LOCAL ADMINISTRATION·Art. 20 HOUSING·Ch. 2 Financing of Housing

Lien of Bonds. Bonds issued under this
chapter and the interest on them may be secured by a pledge of or lien
upon the revenues and receipts derived from or in connection with the
home mortgages or from any notes or other obligations of lending
institutions with respect to which the bonds have been issued. The
governing body may provide in the ordinance authorizing the bonds for
the issuance of additional bonds to be equally and ratably secured by
a lien upon these revenues and receipts.
As added by Acts 1979, P.L.47, SEC.1.

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Lien of Bonds. Bonds issued under this
chapter and the interest on them may be secured by a pledge of or lien
upon the revenues and receipts derived from or in connection with the
home mortgages or from any notes or other obligations of lending
institutions with respect to which the bonds have been issued. The
governing body may provide in the ordinance authorizing the bonds for
the issuance of additional bonds to be equally and ratably secured by
a lien upon these revenues and receipts.
As added by Acts 1979, P.L.47, SEC.1.

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