§49-12  Lien and charge of revenue bonds. 
Unless otherwise provided in the resolution or resolutions, all revenue bonds
of the same issue, subject to the prior and superior rights of outstanding
revenue bonds, claims, or obligations, shall have a prior and paramount lien
and charge on the revenue, or the user taxes, or combination of both, pledged
to the payment thereof, of the undertaking or loan program for which the
revenue bonds have been issued, over and ahead of all bonds of any issue
payable from the revenue, or user taxes, or combination of both, which may be
subsequently issued and over and ahead of any claims or obligations of any
nature against the revenue, or user taxes, or combination of both, subsequently
arising or subsequently incurred.  All revenue bonds of the same issue shall be
equally and ratably secured without priority by reason of number, date of
bonds, of sale, of execution, or of delivery, by a lien and charge on the
revenue or user taxes, or combination of both, pledged to the payment thereof,
in accordance with this chapter and the resolution or resolutions authorizing
the revenue bonds. [L 1989, c 80, pt of §3]