10-311.   Revenue bonds and municipality, defined; revenue bonds excludedfrom computation of bonded indebtedness.(a) "Revenue bonds" mean bonds issued by any municipalityto be paid from the revenue derived from the operation of a publicly ownedutility, instrumentality or facility of a revenue producing character, orwhich are not general obligations of the issuing municipality.

      (b)   "Municipality" means any city, county, municipal or quasimunicipalcorporation or other political subdivisionof the state authorized to issue revenue bonds.

      (c)   Revenue bonds issued by a municipality shall not be included incomputing the total bonded indebtedness of such municipality for the purposeof determining the limitations on bonded indebtedness of such municipality.

      History:   L. 1985, ch. 60, § 1;L. 1987, ch. 60, § 3; May 28.