... and Sewer System Revenue Refunding Bonds, New Series 2017, scheduled to sell on May 16 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 2008 bonds for savings. Final Maturity: Aug. 1, 2028....