§ 45-33-6 - Restrictions on liability on bonds. - Rhode Island Statutes

SECTION 45-33-6

   § 45-33-6  Restrictions on liability onbonds. – Neither the members of an agency nor any person executing the bonds arepersonally liable on the bonds by reason of their issuance. The bonds and otherobligations of any agency (and those bonds and other obligations shall so stateon their face) are not a debt of the community, the state or any politicalsubdivision other than the agency and neither the community nor the state, orany political subdivision other than the agency, are liable for them, nor inany event are those bonds or obligations payable out of any funds or propertiesother than those of the agency. The bonds do not constitute an indebtednesswithin the meaning of any constitutional or statutory debt limitation orrestriction.