CHAPTER 20. NATURAL RESOURCES.

§20-5-11. Authority of director to pledge revenue from recreational facilities as security.

The director, with the approval of the Governor, shall have authority to pledge all revenue derived from any project as security for any bonds issued to defray the cost of the project. In any case in which the director may deem it advisable, he or she shall also have the authority to pledge the revenue derived from any existing recreational facilities under his or her control, or any state park or forest, as additional security for the payment of any bonds issued under the provisions of this article to pay the cost of any park development project.

§20-5-11. Authority of director to pledge revenue from recreational facilities as security.

Bill History For §20-5-11