40-1135. 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 authority and its equipment and 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.