§ 116-198.32. Credit and taxing power of State not pledged; statement on face of bonds. - North Carolina Statutes

§ 116‑198.32. Credit and taxing power of State not pledged; statement on face of bonds.

Revenue bonds issued as in this Article provided shall not be deemed toconstitute a debt or liability of the State or any political subdivisionthereof or a pledge of the faith and credit of the State or of any suchpolitical subdivision, but shall be payable solely from the funds hereinprovided therefor from revenues.  All such revenue bonds shall contain on theface thereof a statement to the effect that neither the State nor the Board(herein mentioned) shall be obligated to pay the same or the interest thereonexcept from revenues as herein defined and that neither the faith and creditnor the taxing power of the State or of any political subdivision or instrumentalitythereof is pledged to the payment of the principal of or the interest on suchbonds.  The issuance of revenue bonds hereunder shall not directly orindirectly or contingently obligate the State or any political subdivisionthereof to levy or to pledge any taxes whatsoever therefor. (1987, c. 336.)