§163D-13 - Revenue bonds; special funds.
[§163D-13] Revenue bonds; special funds. (a)
A separate special fund shall be established for each project facility financed
from the proceeds of the revenue bonds secured under the same trust indenture.
Each fund shall be designated "project facility revenue bond special
fund" and shall bear additional designation as the corporation deems
appropriate to properly identify the fund.
(b) Notwithstanding any other law to the
contrary, including section [163D-17], all revenues, income, and receipts derived
from the project facility for which the revenue bonds are issued shall be paid
into the project facility revenue bond fund established for that project
facility and applied as provided in the proceedings authorizing the issuance of
the revenue bonds. [L 1994, c 264, pt of §1]