School District Bonds. When issued and delivered, the School District Bonds will constitute validly issued, legally binding general obligations of the School District secured by a pledge of the faith and credit of the School District and all the real property within the School District which is subject to taxation by the School District is subject to the levy of ad valorem taxes (without limitation as to rate or amount) to pay the principal of and interest on the School District Bonds; provided, however, that the enforceability (but not the validity) of the School District Bonds may be limited by bankruptcy, insolvency, or other laws affecting creditors’ rights or remedies heretofore or hereafter enacted.
