No bond shall be deemed to be a general obligation of the county or a pledge of its
faith and credit. No holder of bonds shall ever be entitled to compel the payment
of the principal of, premium, if any, or interest on such bonds or any other payments
provided for by the county to be made to any reserve account, renewal and replacement
fund or other funds or account from any funds or revenues of the county other than
such net revenues, assessments or non-ad valorem funds as shall be expressly pledged
as security for such payment; nor will the holder of any bonds or any letter of credit
provider, reserve account insurance provider or bond insurance provider ever have
the right to compel the exercise of the ad valorem taxing power of the county to pay
the principal of, premium, if any, or interest on bonds or to make any such other
payments. No bonds shall constitute a lien upon any property of the county or situated
within its territorial limits, except such net revenues, assessments or non-ad valorem
funds as shall be expressly pledged to the payment of such bonds.
(Code 1988, § 18-54; Ord. No. 89-3, § 4)
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