10-311. Revenue bonds and municipality, defined; revenue bonds excluded from computation of bonded indebtedness.
10-311
10-311. Revenue bonds and municipality, defined; revenue bonds excluded
from computation of bonded indebtedness.
(a) "Revenue bonds" mean bonds issued by any municipality
to be paid from the revenue derived from the operation of a publicly owned
utility, instrumentality or facility of a revenue producing character, or
which are not general obligations of the issuing municipality.
(b) "Municipality" means any city, county, municipal or quasimunicipal
corporation or other political subdivision
of the state authorized to issue revenue bonds.
(c) Revenue bonds issued by a municipality shall not be included in
computing the total bonded indebtedness of such municipality for the purpose
of determining the limitations on bonded indebtedness of such municipality.
History: L. 1985, ch. 60, § 1;
L. 1987, ch. 60, § 3; May 28.