NOTE: §1016 eff. until July 1, 2021. See Acts 2018, No. 569.
§1016. Priorities of lien
If more than one series of bonds or other debt obligations are issued payable from the revenues of any work of public improvement, priority of the mortgage, if any, of such work of public improvement and pledge of the revenues thereof shall depend on the time of the delivery of the bonds or other debt obligations, and each series shall enjoy a lien prior and superior to that enjoyed by any series of bonds subsequently delivered, except that where provision is made in the proceedings authorizing any issue or series of bonds or other debt obligations in the future on a parity therewith, pursuant to procedure or restrictions provided in such proceedings, additional bonds or other debt obligations may be issued in the future on a parity with such issue or series in the manner so provided in such proceedings.
NOTE: §1016 as repealed by Acts 2018, No. 569, eff. July 1, 2021.
§1016. Repealed by Acts 2018, No. 569, §2, eff. July 1, 2021.
Added by Acts 1977, No. 706, §1. Amended by Acts 1980, No. 416, §1, eff. July 18, 1980; Acts 2018, No. 569, §2, eff. July 1, 2021.
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