§ 17-382. Taxing power not pledged.

(a)

Obligations issued under the provisions of any trust agreement shall not be deemed to constitute a debt of the county or a pledge of the faith and credit of the county, but such obligations shall be payable solely from sources provided in such trust agreement and the lease relating thereto. The obligation of the county to make payments under a lease is a limited and special obligation, subject to annual appropriation of the county from legally available non-ad valorem revenues.

(b)

Neither the issuance of obligations nor the execution and delivery of a trust agreement or a lease under the provisions of this article shall directly, indirectly or contingently obligate the county to levy or to pledge any form of ad valorem taxation whatever therefor. Neither any trustee, any equipment-lessor nor any holder of any obligation shall ever have the right to compel any exercise of the ad valorem taxing power on the part of the county to pay any obligations arising under a lease or trust agreement, nor shall such obligations constitute a charge, lien or encumbrance, legal or equitable, upon any property of the county, except for the moneys appropriated for lease payments under the corresponding lease.

(Code 1965, § 1-106; Ord. No. 90-2, § 6, 2-19-90)