California Health and Safety Code

§ 34353

HSC § 34353Div. 24 · Part 2 · Ch. 1 · Art. 5

Statute text

Neither the commissioners of an authority nor any person executing the bonds are liable personally on the bonds or subject to any personal liability or accountability by reason of their issuance. The bonds and other obligations of an authority are not a debt of the city, county, state, or any of its political subdivisions and neither are they liable on the bonds, nor are the bonds or obligations payable out of any funds or properties other than those of the authority pledges for the payment thereof; and the bonds shall so state on their face. The bonds do not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation.

Legislative history

Amended by Stats. 1983, Ch. 1309, Sec. 12.