9-21-1014 - Revenue refunding bonds of the same issue shall be equally and ratably secured. - Tennessee Statutes

9-21-1014. Revenue refunding bonds of the same issue shall be equally and ratably secured.

All revenue refunding bonds of the same issue shall be equally and ratably secured, without priority by reason of number, date of bonds, date of sale, date of execution or of delivery, by a lien upon the revenues of the enterprise, the revenues of which are pledged to the payment of such bonds, in accordance with the provisions of this part and the resolution authorizing the issuance of the revenue refunding bonds.

[Acts 1986, ch. 770, § 10-14.]