48 U.S.C. § 1574c Priority For Payment of Principal and Interest of Revenue Bonds Or Other Obligations

• Library: United States Statutes
• Edition: 2023 Edition
• Currency: Current through P.L. 118-19 (published on www.congress.gov on 10/06/2023)

Each issue of bonds or other obligations issued under subsection (a) of section 1574a of this title shall have a parity lien with every other issue of bonds or other obligations issued for payment of principal and interest out of revenues received under section 7652(b)(3) of title 26, except that issues guaranteed under section 1574b of this title shall have priority, according to the date of issue, over issues not so guaranteed and the revenues received under section 7652(b)(3) of title 26 shall be pledged for the payment of such bonds or other obligations.

Cite as 48 U.S.C. § 1574c

Source: Pub. L. 94-392, §3, Aug. 19, 1976, 90 Stat. 1195; Pub. L. 105-83, title I, §124(a), Nov. 14, 1997, 111 Stat. 1567.

current through 5/22/2023

EDITORIAL NOTES

CODIFICATION

"Section 7652(b)(3) of title 26" substituted in text for "section 28(b) of the Revised Organic Act of the Virgin Islands [68 Stat. 508]", which was classified to section 3350(c) of former Title 26, Internal Revenue Code, on authority of section 7852(b) of Title 26, Internal Revenue Code, which provided that any reference in any other law to a provision of the Internal Revenue Code of 1939 be deemed a reference to the corresponding provision of the Internal Revenue Code of 1986.