§ 35.67.160. Revenue bonds -- Obligation against fund, not city
Revenue bonds or warrants and interest shall be payable only out of the special fund. Every bond or warrant and interest thereon issued against the special fund shall be a valid claim of the holder thereof only as against that fund and its fixed proportion of the amount of revenue pledged to the fund, and shall not constitute an indebtedness of the city or town. Every warrant as well as every bond shall state on its face that it is payable from a special fund, naming it and the ordinance creating it.
[1965 c 7 § 35.67.160. Prior: 1941 c 193 § 4, part; Rem. Supp. 1941 § 9354-7, part.]
Sections: Previous 35.67.030 35.67.065 35.67.110 35.67.120 35.67.130 35.67.140 35.67.150 35.67.160 35.67.170 35.67.180 35.67.190 35.67.194 35.67.200 35.67.210 35.67.215 NextLast modified: April 7, 2009