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Division 2 — Financing Projects

§ 28-21. Bonds not debt of city.

Cypress Planning Code · 2026-07 edition · updated 2026-07-25 · Cypress

All of the bonds hereby authorized to be issued shall be limited obligations of the city payable from all or any specified part of the revenues authorized in this article to be pledged or assigned to secure payment of bonds. Such revenues, moneys or assets shall be the sole source of repayment of such issue of bonds. Bonds issued as authorized by this article shall not be deemed to constitute a debt or liability of the city or a pledge of the faith and credit of the city but shall be limited obligations payable solely from specified revenues, moneys and assets. The issuance of bonds shall not directly, indirectly or contingently obligate the city to levy or pledge any form of taxation or to make any appropriation for their payment. All bonds shall contain on the face thereof a statement to the following effect:

"Neither the faith and credit nor the taxing power of the City of Cypress or the State of California is pledged to the payment of the principal of or premium, if any, or interest on this Bond." (Ord. No. 729, § 1, 6-11-84)

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▸ Contents — Cypress Planning Code
Cypress Planning Code
  1. Chapter 25
  2. Chapter 28
  3. Division 1 — Generally
  4. ▸ Division 2 — Financing Projects
    Overview
    1. § 28-6. Loans for projects.
    2. § 28-7. Sale or lease of project by city.
    3. § 28-8. Loan agreements.
    4. § 28-9. Fees.
    5. § 28-10. Rents and charges.
    6. § 28-11. Security for loans.
    7. § 28-12. Employment of experts and consultants.
    8. § 28-13. Public works requirements inapplicable.
    9. § 28-14. Additional powers.
    10. § 28-15. Rules and regulations.
    11. § 28-20. Issuance of bonds.
    12. § 28-21. Bonds not debt of city.
    13. § 28-22. Type, form and sale of bonds.
    14. § 28-23. Trust indenture to secure bonds.
    15. § 28-24. Terms of resolution or indenture.
    16. § 28-25. Security for the bonds.
    17. § 28-26. Insurance or guarantee of payment.
    18. § 28-27. No personal liability.
    19. § 28-28. Refunding bonds.
    20. § 28-29. Pledge of revenues, money or property.
    21. § 28-30. Purchase of bonds by city.
    22. § 28-31. Actions by bondholders.
    23. § 28-32. Bond anticipation notes.
    24. § 28-39 Division 4 Applications
  5. Division 4 — Applications
  6. Division 5 — Supplemental Provisions

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