The payment of special obligation bonds shall not be secured by any encumbrance, mortgage, or other pledge of property of the district, other than operating revenues, sales tax revenues, or moneys or assets held in escrow. No property of the district, subject to this exception, shall be liable to be forfeited or taken in payment of the special obligation bonds.
Source: L. 89: Entire article added, p. 1337, § 1, effective June 2. L. 90: Entire section amended, p. 1524, § 13, effective April 16.