3-1012. Prior lien of bonds


A. Except as otherwise provided in the resolution authorizing the bonds, all bonds
of the same issue under this article shall have a prior and paramount lien on the
revenues of the Arizona coliseum and exposition center and its facilities for which the
bonds have been issued over and ahead of bonds of an issue payable from that revenue
which may be subsequently authorized, and over and ahead of claims or other obligations
of any nature against that revenue subsequently arising or subsequently incurred.


B. Bonds of the same issue issued under this article shall be equally and ratably
secured, without priority by reason of number, date, sale, execution or delivery, by a
lien on the revenue in accordance with the terms of the resolution authorizing the bonds.