Taxing power not pledged.
Cape Coral Code of Ordinances § 19-110
in effect§ 19-110 - Taxing power not pledged.
Bonds issued under the provisions of this article shall not be deemed to constitute a pledge of the faith and credit of the city, but such bonds shall be payable from the pledged revenues in the manner provided herein and by the resolution authorizing the bonds. The issuance of bonds under the provisions of this article shall not directly or indirectly obligate the city to levy or to pledge any form of ad valorem taxation whatever therefor. No holder of any bonds shall ever have the right to compel any exercise of the ad valorem taxing power on the part of the city to pay any such bonds or the interest thereon or to enforce payment of the bonds or the interest thereon against any property of the city, nor shall the bonds constitute a charge, lien or encumbrance, legal or equitable, upon any property of the city, except the pledged revenues.
(Ord. 85-87, § 1, 11-23-1987)
Source: City of Cape Coral, Florida, Code of Ordinances, City Charter and Land Development Code (Municode Library, library.municode.com)URL: https://library.municode.com/fl/cape_coral/codes/code_of_ordinances?nodeId=CH19WASEUT_ARTIXWASESPAS_S19-110TAPONOPLFetched: 11/4/2026