California · Military and Veterans Code - MVC

MVC §481.2: Revenue bonds shall be issued in the name of the department and as the obligation of the department, but neither the principal of, nor the interest on, any revenue bonds shall be or become a lien, cha

What this law says, in plain English

Revenue bonds issued by the department are the department's obligation, but neither bond principal nor interest creates a lien or charge against department property.

Read the full statutory text

Revenue bonds shall be issued in the name of the department and as the obligation of the department, but neither the principal of, nor the interest on, any revenue bonds shall be or become a lien, charge or liability against the State of California, the department, or the California National Guard Finance Committee, or against the property or funds of any of them, except to the extent of the pledge of revenues as may be provided by the resolution of issuance pursuant to which such revenue bonds are issued. Every revenue bond shall contain a recital substantially as follows: “Neither the faith and credit nor the taxing power of the State of California is pledged to the payment of the principal of or interest on this bond.”

Verify at the official source: California legislative text

Facing this? Know exactly what happens next.

MOFRD turns this code section into your situation: the deadlines that apply to you, the forms your county uses, and the resolution paths people in your position actually take. Free for 3 days — no card required.

Start your matter free Ask Law Link about this code

This page is legal information, not legal advice. Code text is sourced from official publications and may lag amendments — always confirm at the official source linked above. Plain-English summaries and relationship data are AI-derived and reviewed on an ongoing basis; verify with a licensed attorney before acting.