TITLE 20 EDUCATION

Section 3. Postsecondary Education, 20-3-1 through 20-3-660.

ARTICLE 6 PRIVATE COLLEGES AND UNIVERSITIES AUTHORITY

20-3-208. Pledge of and lien on revenues to secure bonds.

The revenues, rents, purchase payments, financing charges, or other earnings derived from any particular project may be pledged and allocated by the authority pursuant to appropriate resolution as security for any issue of revenue bonds; and such resolution may fully provide for such remedies of bondholders as may be deemed necessary or appropriate by the authority in connection with the issuance of the revenue bonds. A statutory lien on revenues received by the authority in connection with the financing of any project is created for the benefit of the holders of the revenue bonds of the authority issued for such project.

(Ga. L. 1978, p. 1765, § 8.)