315.620 - Liability on bonds; debt limitations. - Nevada Statutes

315.620  Liability on bonds; debt limitations.  Neither the commissioners of an authority nor any person executing the bonds is liable personally on the bonds by reason of the issuance thereof. The bonds and other obligations of an authority are not, and must state on their face that they are not, a debt of the city, the county, the State or any other political subdivision thereof, and neither the city, the county, the State nor any other political subdivision thereof is liable thereon, nor in any event are the bonds or obligations payable out of any funds or properties other than those of the authority. The bonds do not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction.

      [Part 12:253:1947; 1943 NCL § 5470.12]—(NRS A 1995, 811)