... and Sewer System Revenue Refunding Bonds, New Series 2016, scheduled to sell on Nov. 15 via negotiation. Security: Pledge of net revenues of Garland's (the city) water and sewer system (the system). The outstanding prior lien bonds (through series 2013) are senior to the new series bonds, which are a second-lien obligation. The prior lien is closed. Purpose: To refund outstanding series 2007 bonds for savings. Final Maturity: March 1, 2027....