Section 4-251 - Bonds and notes not State debts. - Maryland Statutes

§ 4-251. Bonds and notes not State debts.
 

(a)  In general.- A bond or note issued under this part: 

(1) is not a debt of and does not pledge the faith, credit, or taxing power of the State, the Administration, or a political subdivision; but 

(2) is payable only from the revenues and property provided for in this subtitle. 

(b)  Required statement.- Each bond or note shall state on its face the provisions of subsection (a) of this section. 
 

[An. Code 1957, art. 83B, § 2-206(p); 2005, ch. 26, § 2.]