California § 481.2. 481.2. (Added by Stats. 1978, Ch. 1274.)

California Statutes

§ 481.2. — 481.2. (Added by Stats. 1978, Ch. 1274.)

California·Code MVC Military and Veterans Code - MVC·Div. 2. DIVISION 2. THE MILITARY FORCES OF THE STATE·Part 1. PART 1. THE STATE MILITIA·Ch. 10. CHAPTER 10. California National Guard Members’ Revenue Bond Act of 1978·Art. 2. ARTICLE 2. Authorization and Issuance of Bonds

Revenue bonds shall be issued in the name of the department and as the obligation of the department, but neither the principal of, nor the interest on, any revenue bonds shall be or become a lien, charge or liability against the State of California, the department, or the California National Guard Finance Committee, or against the property or funds of any of them, except to the extent of the pledge of revenues as may be provided by the resolution of issuance pursuant to which such revenue bonds are issued. Every revenue bond shall contain a recital substantially as follows:
“Neither the faith and credit nor the taxing power of the State of California is pledged to the payment of the principal of or interest on this bond.”

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Revenue bonds shall be issued in the name of the department and as the obligation of the department, but neither the principal of, nor the interest on, any revenue bonds shall be or become a lien, charge or liability against the State of California, the department, or the California National Guard Finance Committee, or against the property or funds of any of them, except to the extent of the pledge of revenues as may be provided by the resolution of issuance pursuant to which such revenue bonds are issued. Every revenue bond shall contain a recital substantially as follows:
“Neither the faith and credit nor the taxing power of the State of California is pledged to the payment of the principal of or interest on this bond.”

California § 481.2. (481.2. (Added by Stats. 1978, Ch. 1274.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.