3-133

Chapter 3.--AIRCRAFT AND AIRFIELDS

Article 1.--MUNICIPAL AIRPORTS AND FIELDS

     
3-133.   Same; bond limitations; liens.
The amount of bonds which may be issued under the provisions of this act
by the city shall not be in excess of 10 percent of the assessed valuation
of the city, and bonds to such percentage may be issued. All bonds issued
under the provisions of this act shall be a direct lien upon said airport
and municipal fields for aviation purposes and payment thereof shall
constitute a general obligation against the city at large.

     
History:   L. 1941, ch. 12, § 8; March 26.