§16-13-13. Application of revenue from bonds; lien.
All moneys received from any bonds issued pursuant to this
article, after reimbursements and repayment to said municipality
of all amounts advanced for preliminary expenses as provided in
section four of this article, shall be applied solely to the
payment of the cost of the work, extensions, improvements or
betterments, or to the appurtenant sinking fund and there shall
be and hereby is created and granted a lien upon such moneys,
until so applied, in favor of the holders of the bonds or the
trustees hereinafter provided for.