§10-30 - Payment and security of revenue bonds; revenue bonds not a debt of the State.
§10-30 Payment and security of revenuebonds; revenue bonds not a debt of the State. Revenue bonds issued underthis part shall be payable from and secured solely by the revenues of theoffice project or projects or revenues of the office pledged to the paymentthereof, or both, and those revenues shall be applied to the payment inaccordance with the provisions of this part and the resolution or resolutionsauthorizing the issuance of the revenue bonds. No holder or holders of anyrevenue bonds issued under this part shall have the right to compel anyexercise of the taxing power of the State or the making of any appropriation topay the revenue bonds, or interest thereon. Each revenue bond shall recite insubstance that the revenue bond, including interest thereon, is payable solelyfrom and secured by the revenue pledged to the payment thereof, and that thebond does not constitute a general or moral obligation or indebtedness of theState within the meaning of any law. [L 1994, c 283, pt of §2(2); am L 2009, c146, §8]