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53.34.130 Bonds, notes, obligations not state or district debt—No ad valorem taxes.

WA Rev Code § 53.34.130 (2019) (N/A)
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RCW 53.34.130 Bonds, notes, obligations not state or district debt—No ad valorem taxes.

The revenue bonds, revenue notes, and any other obligations of a district issued under the authority of this chapter shall not be a debt of the state of Washington or of any political subdivision of this state, nor shall such obligations be considered indebtedness of the port district issuing same within any constitutional, statutory, or other limitation of indebtedness, and neither the state nor any political subdivision thereof, including the port district issuing such revenue bonds or notes, shall ever become obligated to levy ad valorem taxes on any taxable property within the state for the payment of such revenue bonds and notes, but such revenue bonds and notes shall be payable solely from and shall be a charge only upon the revenues and other funds of the project or projects pledged to the payment thereof by the proceedings authorizing the issuance of such bonds and notes.

[ 1959 c 236 § 13.]

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