28-18-14. Special fund created prior to delivery of bonds--Gross receipts pledged to fund. Prior to delivery of any such bonds, the governing body shall by the resolutions required by § 28-18-7 create a special fund and appropriate and pledge thereto all gross receipts in respect of rentals, fees, licenses, and other charges however designated, imposed by the municipality for the use or occupancy of the facilities and of any future additions and betterments thereto or for admission of individuals to the same or any part thereof.
Source: SL 1963, ch 286, § 2.
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