9-536. Payment of bonds
A. No holder of bonds issued under this article shall have the right to compel any
exercise of the taxing power of the municipality to pay the bonds or the interest on such
bonds. Each bond issued under this article shall recite in substance that payment of the
bond and interest on such bond is enforceable exclusively from the revenue pledged to its
payment.
B. Bonds issued under this article shall not be a debt of the municipality, nor
shall payment of such bonds be enforceable out of any funds other than the revenue
pledged to the payment of such bonds.
C. This section shall not apply to tax secured bonds issued pursuant to both this
article and title 35, chapter 3, article 3.
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