Cal. Gov. Code § 64117

Current through the 2023 Legislative Session.
Section 64117 - Bonds not debt or liability of state or political subdivision

Bonds issued under this division shall not be deemed to constitute a debt or liability of the state or of any political subdivision thereof or a pledge of the faith and credit of the state or of the political subdivision, other than the issuer, but shall be payable solely from the funds herein provided. The bonds shall contain on the face thereof a statement to the effect that neither the State of California nor the issuer shall be obligated to pay the principal of, or the interest thereon, except from revenues pledged therefor by the issuer, and that neither the faith and credit nor the taxing power of the State of California or of any political subdivision thereof is pledged to the payment of the principal of or the interest on those bonds. The issuance of bonds under the provisions of this division shall not directly or indirectly or contingently obligate the state or any political subdivision thereof to levy or to pledge any form of taxation therefor or to make any appropriation for their payment.

Ca. Gov. Code § 64117

Amended by Stats 2013 ch 198 (AB 1070),s 10, eff. 1/1/2014.
Added by Stats 2009 ch 474 (AB 798),s 1, eff. 1/1/2010.