Sec. 7-261. Full faith and credit.
Sec. 7-261. Full faith and credit. Bonds or notes issued under the authority of this
chapter, except those which are secured only by sewerage system use charges, shall be
obligatory upon the municipality and the inhabitants and property thereof according to
the tenor and purport of the same and the full faith and credit of the municipality shall
be pledged to the payment thereof, whether or not such pledge is stated in the bonds or
notes or in the vote authorizing their issuance, and thereafter the municipality shall
appropriate in each year during which any such bonds or notes are outstanding, and
there shall be available on or before the date when the same are payable, an amount of
money which, together with other revenue available for such purpose, shall be sufficient
to pay the principal and interest on such bonds or notes payable in that year, and there
shall be included in the tax levy for each such year an amount which, together with other
revenues available for such purpose, shall be sufficient to meet such appropriation.
(1949, S. 328d; P.A. 07-51, S. 2.)
History: P.A. 07-51 added reference to Sec. 7-263a, included in existing reference to "this chapter", effective May
22, 2007.