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May 20, 2020
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2019 Statute

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80-2017.Same; liens; additional revenue bonds. Whenever the governing body of such sewage district shall issue revenue bonds to finance the cost of construction of lateral sewer lines, such bonds shall be a specific lien upon such lateral sewers and the revenues derived therefrom, and shall in no case be a debt guaranteed or secured by any other property within the township, and no special election shall be required to authorize the issuance of such revenue bonds, and such revenue bonds shall not be taken into account or in any wise be a limitation upon the power of said township or sewage district to issue bonds for any other purpose. The issuance of such revenue bonds for the construction of one or more lateral sewers shall not operate to prevent the sewage district from issuing additional revenue bonds for the construction of other lateral sewers, nor from constructing other lateral sewers by the organization of lateral sewer districts, but the revenues derived from the charges against the users of lateral sewers constructed through each issue of revenue bonds shall be used only to pay the principal and interest charges upon such issue of revenue bonds, and the moneys derived from taxes and special assessments for any lateral sewer district shall be used only to pay the principal and interest charges upon the bonds issued for such lateral sewer district: Provided, That all property in the sewage district shall be liable for taxes and special assessments as herein provided for the construction of main, intercepting and outfall sewers and sewage-disposal plants, and for maintenance of the entire sewage system, in addition to the taxes, special assessments or other charges for lateral sewers, and regardless of whether lateral sewers have been constructed to serve such property.

History: L. 1941, ch. 399, § 17; April 15.

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2020. Powered by KLISS. Rendered: 2020-05-20T11:38:15. Head Rev No: 532981(E)