1. Municipal securities issued hereunder and constituting special obligations shall recite in substance that the securities and the interest thereon are payable solely from the net revenues or gross revenues pledged to the payment thereof. 2. Municipal securities issued hereunder and constituting general obligations shall pledge the full faith and credit of the municipality for their payment, shall so state, and shall state that they are payable from taxes. 3. General obligation municipal securities the payment of which is additionally secured by a pledge of revenues shall recite in substance, in addition to the statements required by subsection 2 of this section, that the payment of the securities and the interest thereon is additionally secured by a pledge of the net revenues or the gross revenues, as the case may be, designated in the securities.
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