Section 54420 Of Article 4. Provisions Relating To Bonds From California Government Code >> Division 2. >> Title 5. >> Part 1. >> Chapter 6. >> Article 4.

. The bonds are special obligations of the local agency and are secured by a pledge of and shall be a charge upon, and shall be payable, as to the principal thereof, interest thereon, and any premiums upon the redemption of any thereof, solely from and secured by a lien upon the gross revenues of the enterprise and such funds as are described in the resolution authorizing the issuance of the bonds.