§ 280x - Obligations; credit of the state not pledged - Vermont Statutes

§ 280x. Obligations; credit of the state not pledged

Obligations issued under the provisions of this subchapter shall not be deemed to constitute a debt or liability of the state. Each obligation issued under this subchapter shall contain on the face thereof a statement to the effect that the authority shall not be obligated to pay the same nor the interest thereon except from the revenues or assets pledged therefor, and that neither the faith and credit nor the taxing power of the state is pledged to the payment of the principal of or the interest on such obligations. (Added 1997, No. 43, § 1.)