3-159.   Same; resolution pledging revenues; resolution stating purposeand amount of bonds; redemption prior to maturity; publication ofresolutions.Before any such revenue bonds may be issued, the issuing municipalityshall provide by resolution that the income of the special facility(exclusive of land rental) be pledged for the payment of bonds issuedhereunder. A resolution shall be adopted by the municipality stating thepurpose for which such bonds are to be issued and the total amount of thebonds proposed to be issued, along with a finding by the municipality thatrevenues pledged will be sufficient to retire the special facilitiesrevenue bonds issued hereunder and may contain such provision for priorredemption as may be agreed upon with the holders of said bonds. Suchresolution and finding by the municipality shall be published once eachweek for three consecutive weeks in the official newspaper of themunicipality.

      History:   L. 1974, ch. 6, § 7; July 1.