California Government Code

§ 26315

GOV § 26315Div. 2 · Title 3 · Part 2 · Ch. 14 · Art. 2

Statute text

The board shall issue revenue bonds in the name of the county. These bonds shall constitute obligations of the project only, and neither the payment of the principal or interest of any such bond constitutes a debt, liability or obligation of the county or of the State of California. All bonds issued by the board shall contain a recital on their face that neither the payment of the principal or any part thereof nor any interest thereon constitutes a debt, liability or obligation of the county or of the State.

Legislative history

Added by Stats. 1947, Ch. 815.