An authority may:
1. Covenant against pledging all or any part of its rents, fees and revenues, or against mortgaging all or any part of its real or personal property, to which its right or title then exists or may thereafter come into existence, or against permitting or suffering any lien on such revenues or property.
2. Covenant with respect to its right to sell, lease or otherwise dispose of any housing project or any part thereof.
3. Covenant as to what other, or additional debts or obligations may be incurred by it.
4. Covenant as to the bonds to be issued and as to the issuance of such bonds in escrow and otherwise, and as to the use and disposition of the proceeds thereof.
5. Provide for the replacement of lost, destroyed or mutilated bonds.
6. Covenant against extending the time for the payment of its bonds or interest thereon.
7. Covenant for the redemption of the bonds, and to provide the terms and conditions thereof.
[Part 14:253:1947; 1943 NCL § 5470.14]
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.