Revenues shall be the sole source of funds pledged by the city for repayment of bonds issued under this chapter. Bonds issued under this chapter 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 payable solely from revenues. 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 San Luis Obispo is pledged to the payment of the principal of or interest on this bond.

The issuance of bonds shall not directly, indirectly or contingently obligate the council to levy or pledge any form of taxation or to make any appropriation for their payment. (Ord. 1047 (part), 1985)