Section 100.150

Title VII CITIES, TOWNS AND VILLAGES

Chapter 100

Effective - 28 Aug 1961   

  100.150.  Revenue bonds payable from revenues only — statement on bond. — Revenue bonds issued under sections 100.010 to 100.200 shall not be payable from or charged upon any funds, other than the revenue pledged to the payment thereof, nor shall the municipality issuing the bonds be subject to any pecuniary liability thereon.  Each revenue bond issued under sections 100.010 to 100.200 shall recite, in substance, that the bond, including interest thereon, is payable solely from the revenue pledged to the payment thereof and that the bond does not constitute a debt of the municipality within the meaning of any constitutional or statutory limitation.

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(L. 1961 p. 189 § 15)