§ 53390.3. — 53390.3. (Added by Stats. 1985, Ch. 906, Sec. 1.)

California § 53390.3.

• Jurisdiction: California
• Code GOV: Government Code - GOV
• Div.: 2.
• Title 5.: DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES
• Part 1.: PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES
• Ch. 2.7.: CHAPTER 2.7. Community Rehabilitation District Law
• Art. 5.: ARTICLE 5. Senior Obligation Bonds

Text

The legislative body or any person executing the bonds shall not be personally liable on the bonds by reason of their issuance. The bonds and other obligations of a district issued pursuant to this chapter are not a debt of the city, county, or state, or any of its political subdivisions, and those entities are not liable on the bonds and the bonds or obligations are not payable out of any funds or properties other than those of the district. The bonds shall contain a statement of that fact on their face. The bonds do not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation.

Legislative History

Added by Stats. 1985, Ch. 906, Sec. 1.