§ 29-3-105 — Bonds to be special obligations

(1) All bonds issued by a county
or municipality under the authority of this article shall be special, limited
obligations of the county or municipality. Except as provided in section 29-3-116,
the principal of and interest on such bonds shall be payable, subject to the
mortgage provisions in this article, solely out of the revenues derived from the
financing, refinancing, sale, or leasing of the project with respect to which the
bonds are issued.

(2) The bonds and interest coupons, if any, appurtenant thereto shall never
constitute the debt or indebtedness of the county or municipality within the
meaning of any provision or limitation of the state constitution, statutes, or home
rule charter, and shall not constitute nor give rise to a pecuniary liability of the
county or municipality or a charge against its general credit or taxing powers. Such
limitation shall be plainly stated on the face of each bond.

Legislative History

Source: L. 67: p. 672, � 5. C.R.S. 1963: � 36-24-5. L. 73: p. 478, � 5. L. 77: (1) amended, p. 1410, � 6, effective June 20.