Section 481.2 Of Article 2. Authorization And Issuance Of Bonds From California Military And Veterans Code >> Division 2. >> Part 1. >> Chapter 10. >> Article 2.
481.2
. Revenue bonds shall be issued in the name of the department
and as the obligation of the department, but neither the principal
of, nor the interest on, any revenue bonds shall be or become a lien,
charge or liability against the State of California, the department,
or the California National Guard Finance Committee, or against the
property or funds of any of them, except to the extent of the pledge
of revenues as may be provided by the resolution of issuance pursuant
to which such revenue bonds are issued. Every revenue bond shall
contain a recital substantially as follows:
"Neither the faith and credit nor the taxing power of the State of
California is pledged to the payment of the principal of or interest
on this bond."