In what order are distributions paid under a net revenue pledge?

In what order are distributions paid under a net revenue pledge?


The surplus fund.
The debt service account.
The operations and maintenance fund.
The debt service reserve account.
A) III, IV, II and I.
B) III, II, I and IV.
C) III, II, IV and I.
D) I, II, III and IV.


Answer: C) III, II, IV and I.


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