123.156 - BONDS NOT DEBT OF STATE.
123.156 BONDS NOT DEBT OF STATE.
Revenue bonds shall not be a debt of or charge upon the state of
Iowa within the meaning of any constitutional or statutory
limitation. Taxes or appropriations shall not be pledged for the
payment of the revenue bonds. The sole remedy for any breach or
default of the terms of any revenue bonds or proceedings authorizing
the bonds shall be a proceeding in law or equity, to which consent is
given, to enforce and compel performance of the duties required by
this division and the terms of the resolutions under which the bonds
are issued. Section History: Early Form
[C81, § 123.156]