90-7-111. Credit of state not pledged -- statement on obligation required. - Montana Statutes

     90-7-111. Credit of state not pledged -- statement on obligation required. (1) Obligations issued under the provisions of this chapter do not constitute a debt, liability, obligation, or pledge of the faith and credit of the state but are payable solely from the revenue or assets of the institution being financed.
     (2) An obligation issued under this chapter must contain on the face of the obligation a statement to the effect that the state of Montana is not liable on the obligation, the obligation is not a debt of the state, and neither the faith and credit nor the taxing power of the state is pledged to the payment of the principal of or the interest on the obligation.

     History: En. Sec. 18, Ch. 703, L. 1983; amd. Sec. 4, Ch. 477, L. 1997.