§ 46-25-65 - Credit of the state of Rhode Island. - Rhode Island Statutes

SECTION 46-25-65

   § 46-25-65  Credit of the state of RhodeIsland. – Obligations issued under the provisions of §§ 46-25-58 –46-25-66 shall not constitute a debt, liability, or obligation of the state orof any political subdivision thereof, other than the commission, or a pledge ofthe faith and credit of the state or any political subdivision, other than thecommission, but shall be payable solely from the revenues or assets of thecommission. Each obligation issued pursuant to §§ 46-25-58 –46-25-66 shall contain on the face thereof a statement to the effect that thecommission shall not be obligated to pay the obligation or interest thereonexcept from revenues or assets pledged therefor, and that neither the faith andcredit nor the taxing power of the state or any political subdivision thereof,other than the commission, is pledged to the payment of the principal of or theinterest on the obligation.