3-156. Same; disposition and use of revenues derived from airport facilities.
3-156
3-156. Same; disposition and use of revenues derived from airport
facilities.
Revenues derived from the operation or rental of any such facility
(exclusive of land rentals) shall be paid into the treasury of the issuing
municipality and kept in a separate fund and shall not be used except for
the purpose of paying the cost of operation, maintenance and improvement of
such special facility, providing an adequate depreciation fund and paying
the principal of and the interest upon said bonds, all as may be agreed
upon with said bondholders.
History: L. 1974, ch. 6, § 4; July 1.