With bonds subject to a gross revenue pledge, the first priority will be to pay:
A) the sinking fund.
B) bond interest and principal.
C) operation and maintenance .
D) the first lien on the property.
Answer: B) bond interest and principal.
With bonds subject to a gross revenue pledge, the first priority will be to pay:
A) the sinking fund.
B) bond interest and principal.
C) operation and maintenance .
D) the first lien on the property.
Answer: B) bond interest and principal.