48-154. Bonds payable only from revenue
pledged; bonds not district indebtedness
No holder of any bonds issued under this article shall have the right to compel any
exercise of the taxing power of the district to pay the bonds or the interest
thereon. Each bond issued under this article shall recite in substance that the payment
of the bond and the interest thereon is enforceable exclusively from the revenue pledged
to its payment. Bonds issued under this article by the district shall not be a debt of
the district, nor shall payment thereof be enforceable out of any funds other than the
revenue pledged to the payment thereof.
|