§ 42-55-19 - Credit of state not pledged. - Rhode Island Statutes

SECTION 42-55-19

   § 42-55-19  Credit of state not pledged.– Obligations issued under the provisions of this chapter shall not be deemed toconstitute a debt or liability or obligation of the state or of any politicalsubdivision of the state or a pledge of the faith and credit of the state or ofany political subdivision of the state but shall be payable solely from therevenues or assets of the corporation. Each obligation issued under thischapter shall contain on its face a statement to the effect that thecorporation shall not be obligated to pay the obligation or the interest on theobligation except from the revenues or assets pledged and that neither thefaith and credit nor the taxing power of the state or of any politicalsubdivision of the state is pledged to the payment of the principal of or theinterest on the obligation.