(a) Bonds issued under the provisions of this subchapter shall be payable solely from the net revenues derived by the municipality from the ownership and operation of the parking meters, which net revenues may be pledged for the payment of these bonds.
(b) (1) The revenue bonds shall not in any event constitute an indebtedness of the municipality within the meaning of the constitutional provisions or limitations.
(2) It shall be plainly stated on the face of each bond that the bond has been issued under the provisions of this subchapter and that it does not constitute an indebtedness of the municipality within any constitutional or statutory limitation.
Section: Previous 14-57-602 14-57-603 14-57-604 14-57-605 14-57-606 14-57-607 14-57-608 14-57-609 14-57-610 NextLast modified: November 15, 2016