Tax increment bonds are payable only out of the special fund created under § 11-9-31. Each bond must state that the bond is only payable out of the special fund and that the bond does not constitute a general indebtedness of the political subdivision or a charge against the general taxing power of the political subdivision.

Source: SL 1978, ch 91 , §§ 21, 24; SL 1983, ch 37 , § 10; SL 2011, ch 73 , § 13; SL 2018, ch 70 , § 37; SL 2024, ch 45 , § 16.