Revenue bonds issued under this article and contracts or obligations entered into to carry out the purposes for which bonds are issued, payable in whole or in part from the proceeds of said bonds, shall not constitute a debt, liability or obligation of any of the public agencies who are parties to the agreement creating such entity.

(Amended by Stats. 1968, Ch. 972.)

Terms Used In California Government Code 6551

  • bonds: means revenue bonds, notes or other evidences of indebtedness. See California Government Code 6540
  • Entity: as used in this article means any agency, board or commission provided for by a joint powers agreement pursuant to Article 1 of this chapter. See California Government Code 6542
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
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