7-7-4604. Interpretation of part. Nothing in this part shall in any way be deemed to:
     (1) alter the terms of any agreements made with the holders of any outstanding notes, bonds, or other obligations of the municipality;
     (2) authorize the municipality to alter the terms of any such agreements;
     (3) impair or authorize the municipality to impair the rights and remedies of any creditors of the municipality;
     (4) authorize any municipality to do anything in any manner or for any purpose which would result in the creation or incurring of a debt or indebtedness or the issuance of any instrument which would constitute a bond or debt within the meaning of any provision, limitation, or restriction of the constitution relating to the creation or incurring of a debt or indebtedness or the issuance of an instrument constituting a debt.

     History: En. Sec. 8, Ch. 121, L. 1937; R.C.M. 1947, 79-1908(4), (5).