Title 36, Chapter 82, Section 66
( 36-82-66)
Revenue bonds issued under this article shall not be payable from or
charged upon any funds other than the revenue pledged to the payment
thereof, nor shall the governmental body issuing the same be subject
to any pecuniary liability thereon. No holder or holders of any such
bonds shall ever have the right to compel any exercise of the taxing
power of the governmental body to pay any such bonds or the interest
thereon, nor to enforce payment thereof against any property of the
governmental body; nor shall any such bonds constitute a charge,
lien, or encumbrance, legal or equitable, upon any property of the
governmental body. Every bond issued under this article shall
contain a recital setting forth the substance of this Code section. |