§49-9 - Covenants in resolution authorizing issuance of revenue bonds.
§49-9 Covenants in resolution authorizing
issuance of revenue bonds. Any resolution or resolutions authorizing the
issuance of revenue bonds under this chapter may contain covenants including
but not limited to:
(1) The purpose or purposes to which the proceeds of
sale of the revenue bonds shall be applied and the use and disposition thereof;
(2) The use and disposition of the revenue of the
undertaking or the loan program for which the revenue bonds are to be issued,
or the user taxes derived therefrom, or both, to the extent pledged to the
payment of the revenue bonds, including the priority of payments from such
revenue and the creation and maintenance of reserves and the investment
thereof;
(3) Transfer from the general fund of the county to
the account or accounts of the undertaking an amount equal to the cost of
furnishing the county or any of its departments, boards, or agencies, at their
request, with the services, facilities and commodities of the undertaking;
(4) The issuance of other or additional revenue bonds
payable from the revenue of the loan program or of the undertaking, or the user
taxes derived therefrom, or both revenue and user taxes, to the extent pledged
to the payment of the revenue bonds;
(5) The operation, maintenance, and repair of the
undertaking or the administration, operation, and maintenance of the loan
program; or
(6) Other appropriate suit, action, or proceeding in
any court of competent jurisdiction. [L 1989, c 80, pt of §3]