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first receipts

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See: handsel


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No hypothecation in advance of first receipts will be legal.
Debt service is paid from first receipts generated by the 2.
The authorizing legislation, as amended, establishes the base amount, provides that first receipts of sales tax flow to the fund each year until the base amount is reached, and states that it is the intent of the legislature that moneys deposited in the fund belong to the corporation and do not constitute available resources of the commonwealth for any purpose.
 
 
 
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