9-54-6. Bonds not general obligations nor payable by taxation--Recitals in bonds.
87 words·~1 min read·
/sd/title-9/chapter-9-54/9-54-6A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Revenue bonds issued pursuant to this chapter shall not be general obligations of the municipality nor shall they be payable in any manner by taxation. Such revenue bonds shall recite the authority under which they are issued, and shall state that they are issued in conformity with the provisions, restrictions, and limitations of this chapter, and that such bonds and the interest thereon are to be paid from the revenue received from the project financed, in whole or in part, by the issuance of the revenue bonds.