§ 159D-17. Credit of State not pledged. - North Carolina Statutes

§ 159D‑17.  Creditof State not pledged.

Bonds issued under the provisions of this Article do not constitute adebt of the State or any political subdivision or a pledge of the faith andcredit of the State or any political subdivisions, but shall be payable solelyfrom the revenues and other funds provided for payment. Each bond issued underthis Chapter shall contain on its face a statement to the effect that theagency shall not be obligated to pay the bonds or the interest on it exceptfrom the revenues and other funds pledged for payment and that neither thefaith and credit nor the taxing power of the State or any political subdivisionis pledged to the payment of the principal of or the interest on the bonds. (1977, 2nd Sess., c. 1198, s. 1; 2000‑179, s.2.)