Cal. Gov. Code § 54431

Current through the 2023 Legislative Session.
Section 54431 - Principal and interest not debt of local agency

The principal of and interest on the bonds and any premiums upon the redemption of any thereof are not a debt of the local agency, nor a legal or equitable pledge, charge, lien, or encumbrance, upon any of its property, or upon any of its income, receipts, or revenues except the revenues of the enterprise and other funds that may be legally applied, pledged, or otherwise made available to their payment.

Ca. Gov. Code § 54431

Amended by Stats. 1953, Ch. 526.