91.720. Bonds--payable from what revenue, liability limited. - Missouri Statutes

Bonds--payable from what revenue, liability limited.

91.720. Revenue bonds issued under sections 91.620 to 91.770shall not be payable from or charged upon any funds, other thanthe revenue pledged to the payment thereof, nor shall themunicipality issuing the same be subject to any pecuniaryliability thereon. No holder or holders of any such bonds shallever have the right to compel any exercise of the taxing power ofthe municipality to pay any such bonds or the interest thereon,nor to enforce payment thereof against any property of themunicipality, nor shall any such bonds constitute a charge, lienor encumbrance, legal or equitable, upon any property of themunicipality. Each bond issued under sections 91.620 to 91.770shall recite in substance that said bond, including interestthereon, is payable solely from the revenue pledged to thepayment thereof, and that said bond does not constitute a debt ofthe municipality within the meaning of any constitutional orstatutory limitation.

(L. 1941 p. 493 § 10)