43-1919. DISTRICT NOT LIABLE ON BONDS. Bonds issued pursuant to the irrigation district domestic water system revenue bond act shall not be a debt of the district and the district shall not be liable thereon, nor shall they be payable out of any funds other than the revenue pledged to the payment thereof. Each bond issued under the irrigation district domestic water system revenue bond act shall recite, in substance, that the bond, including interest thereon, is payable solely from the revenue pledged to the payment thereof. Bonds may be issued under the irrigation district domestic water system revenue bond act notwithstanding and without regard to any limitation or restriction on the amount or percentage of indebtedness, or of outstanding obligations of a district.
History:
[43-1919, added 1988, ch. 299, sec. 14, p. 951.]