§39A‑160  Security for special purposerevenue bonds.  Special purpose revenue bonds shall be payable solely fromthe revenues derived by the department from payments made to the departmentunder the project agreement or other agreements entered into with respect tothe project, and shall be secured solely by such revenues and by the pledgesand assignments authorized by this part.  All special purpose revenue bonds ofthe same issue, subject to the prior and superior rights of outstanding bonds,claims, obligations, or mechanic's and materialman's liens, shall have a priorand paramount lien on the revenues derived from the project agreement withrespect to the project, for which such bonds have been issued, over and aheadof all special purpose revenue bonds of any issue payable from the revenueswhich may be subsequently issued and over and ahead of any claims orobligations of any nature against the revenues subsequently arising orsubsequently incurred; provided that the department may reserve the right andprivilege to subsequently issue additional series of special purpose revenuebonds, from time to time, payable from the revenues derived from such projectagreement on a parity with the special purpose revenue bonds theretoforeissued, and the subsequently issued series of special purpose revenue bonds maybe secured, without priority by reason of date of sale, date of execution, ordate of delivery, by a lien on the revenues in accordance with law, includingthis part. [L 1981, c 122, pt of §2]