The resolution shall state that the bonds are to be revenue bonds, payable exclusively from the revenues of the enterprise and from such of the other funds referred to in Section 54478 as shall be specified in the resolution, and the resolution shall also state that the bonds are not to be secured by the taxing power of the local agency.
Cal. Gov. Code § 54384
Authorization of Bonds
Known as the Revenue Bond Law
The act spans §§ 54300 to 54700 (157 sections).
Amended by Stats. 1953, Ch. 526.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.