§ 26446 Bond Revenue Lien Authority

• •The board can decide that bonds (like loans) and their interest are paid back using money from a specific project.
• •The project's money is used to pay back the loan, like a promise.
• •This rule was added in 1947.

A city builds a new park using money from bonds.

The money made from the park (like entry fees) must be used to pay back the loan and its interest.