When the Director has received requests from one or more cities, counties, lessees, purchasers, other obligors or other enterprises, the Director may issue industrial development revenue bonds to obtain money to fulfill the requests. Title to or in a project may at all times remain in the obligor or the obligors designee or assignee and, in that case, the bonds must be secured by a pledge of one or more notes, debentures, bonds or other secured or unsecured debt obligations of the obligor.
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