§ 9. Credit of City Not Pledged.  


Latest version.
  • Revenue bonds issued under the provisions of this act shall not be deemed to constitute a debt of the City or a pledge of the faith and credit of the City, but such bonds shall be payable solely from the funds hereinafter provided therefor from revenues. All such bonds shall contain a statement on their face to the effect that the City is not obligated to pay such bonds or the interest thereon except from revenues and that the faith and credit of the City are not pledged to the payment of the principal or of the interest on such bonds. The issuance of revenue bonds under the provisions of this act shall not directly or indirectly or contingently obligate the City to levy or to pledge any form of taxation whatever therefor or to make any appropriation for their payment.

(Laws of Fla. ch. 57-1658, § 9)