37-101-67 - Liability on bonds. - Mississippi Statutes

§ 37-101-67. Liability on bonds.
 

All bonds issued by an educational building corporation shall be solely and exclusively obligations of the corporation and shall not create an obligation or debt of the State of Mississippi. The state shall not pledge its full faith or credit for the payment of any debt incurred or bonds issued by such corporation. 
 

All such bonds shall not constitute a debt of the college or university for which the facilities are to be constructed. 
 

Sources: Codes, 1942, §§ 6724.5-14, 6724.5-14; Laws,  1968, ch. 271, §§ 3, 4; Laws, 1984, ch. 391, § 4, eff from and after passage (approved April 18, 1984).