Statute · California Government Code
Cal. Gov't Code § 53369.47 — Tax Increment Bonds
Cal. Gov't Code § 53369.47
- Type
- Statute
- Source
- California Government Code
- Jurisdiction
- California
- Date
- 2015-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
The legislative body or any person executing the bonds shall not be personally liable on the bonds by reason of their issuance. The bonds and other obligations of a district issued pursuant to this chapter are not a debt of the city, county, or state or of any of its political subdivisions,…
Citator
Cal. Gov't Code § 53369.47 — Tax Increment Bonds is in force in the current edition of the Code, and nothing recorded condemns it.
The legislative body or any person executing the bonds shall not be personally liable on the bonds by reason of their issuance. The bonds and other obligations of a district issued pursuant to this chapter are not a debt of the city, county, or state or of any of its political subdivisions, other than the district, and none of those entities, other than the district, shall be liable on the bonds and the bonds or obligations shall be payable exclusively from funds or properties of the district. The bonds shall contain a statement to this effect on their face. The bonds do not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation.