§ 7-82-506 — Bonds payable from revenue

No holder or holders of any bonds issued pursuant to this chapter shall ever have the right to compel the levy of any tax to pay the bonds or the interest on the bonds. Each bond shall recite in substance that the bond and interest on the bonds are payable solely from the revenue pledged to the payment of the bond and that the bond does not constitute a debt of the district within the meaning of any statutory limitation.

Legislative History

Acts 1937, ch. 248, § 13; C. Supp. 1950, § 3695.39 (Williams, § 3695.38); T.C.A. (orig. ed.), § 6-2624.