§53-84  Incurring of indebtedness by thecounty.  For the purpose of carrying out its powers, duties, and functionsunder this part, including for the payment of principal and interest upon anyadvances for moneys and plans for redevelopment projects, the county may:

(1)  Borrow and apply for and accept advances andloans; provided that unless the obligation of the county to repay such advancesor satisfy such loans is limited to the revenues derived by the county from anundertaking as defined in section 53-85, the incurring by the county of anysuch indebtedness shall be carried out under and pursuant to chapter 47;

(2)  Issue its bonds under and pursuant to chapter 47,including, without limiting the foregoing, for the refunding of bonds issued byan agency of the county abolished as provided in section 53-81 and therefunding of bonds issued by the county under paragraph (3); and

(3)  Issue its bonds under and pursuant to section53-16, all of the provisions of which shall be applicable to such bonds and tothe county in the issuance thereof except as follows:

(A)  Such bonds shall be issued only for thepurpose of carrying out the powers, duties, and functions of the county underthis part, including, without limiting the foregoing, the refunding of bondsissued by the county under this paragraph or paragraphs (1) and (2) or therefunding of bonds issued by an agency of the county abolished as provided insection 53-81;

(B)  The principal of and interest on suchbonds shall be payable and secured solely as provided in section 53-16(a)(1)and (2), and in no event shall be payable from the general fund of the countyor from taxes or from any other funds or properties of the county other thanthose referred to in such paragraphs (1) and (2), nor shall such bonds besecured by the full faith and credit of the county or the general fund or thetaxing power of the county;

(C)  Neither the council nor any officer oremployee of the county nor any person executing the bonds shall be liablepersonally on the bonds by reason of the issuance thereof;

(D)  The bonds shall be limited obligations ofthe county payable and secured solely as provided in subparagraph (B) and shallso state on their face;

(E)  The words "members" or"officers" where used in section 53-16(e) shall mean members of thecouncil and officers of the county; and

(F)  The words "rents","fees", and "revenues" where used in section 53-16(g) shallmean and include only those rents, fees, and revenues derived by the countyfrom its activities under this part; the words "real or personalproperty" and "property" where used in section 53-16(g) shallmean only the real or personal property held by the county for the purposes ofthis chapter and shall not include real or personal property held for otherpublic uses and purposes, such as streets, parks, public buildings,publicly-owned utilities, and the like; and the word "bonds" whereused in section 53-16(g) shall mean bonds of the county issued under section53-16(g) as incorporated into this part and the bonds of any agency of thecounty abolished as provided in section 53-81. [L 1974, c 123, pt of §2; am L1987, c 283, §6; am L 1988, c 141, §8]