§ 374-b-6

374-B:6 Bonds and Notes Payable Solely From Certain Funds; Exclusion From Debt Limit. – The bonds and notes issued under this chapter shall be payable solely from the funds provided therefor hereunder, the liability of the municipality from other funds being limited to obligations undertaken by it to pay for the electricity used by it, and a statement to this effect shall be included on the face of such bonds and notes. The bonds and notes and such obligations shall not at any time be included in the debt of the municipality for the purpose of ascertaining its borrowing capacity. Source. 1975, 501:1, eff. June 24, 1975.