Section 14-205-111 - Statutory lien upon system

(a) A statutory mortgage lien shall be imposed upon the gas system constructed from the proceeds of bonds authorized by this chapter. The lien shall exist in favor of the holders of the bonds and the holders of coupons attached to the bonds.(b) The gas system shall remain subject to the statutory mortgage lien until payment in full of the principal and interest of the bonds.Acts 1949, No. 71, § 11; A.S.A. 1947, § 19-4811.