The payment of securities shall not be secured by an encumbrance, mortgage or other pledge of property of the authority, except for revenues, income, tax proceeds and other money pledged for the payment of securities. No property of the authority, subject to such exception, shall be liable to be forfeited or taken in payment of the securities.
History: Laws 2007, ch. 99, § 54.
Emergency clauses. — Laws 2007, ch. 99, § 104 contained an emergency clause and was approved March 30, 2007.
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