§37D-5  Financing agreements not a general
obligation of State.  Financing agreements shall:



(1)  Not be obligations for which the full faith and
credit of the State, the department, or any agency are pledged; and



(2)  Have no claim or lien on any revenues or other
moneys of the State, the department, or any agency except moneys appropriated
or otherwise held in trust for that purpose.



Financing agreements entered into under this chapter
shall not constitute "bonds" within the meaning of section 12 of article
VII of the Constitution of the State.  No holder or holders of any financing
agreement entered into under this chapter shall have the right to compel any
exercise of taxing power of the State, the department, or any agency to pay the
financing agreements or the interest thereon and no moneys other than amounts
appropriated or otherwise held in trust for that purpose shall be required to
be applied to the payment thereof.  Each financing agreement issued under this
chapter shall recite in substance that the agreement, including the interest
component thereof, shall not be an obligation for which the full faith and
credit of the State, the department, or any agency are pledged, and that the
financing agreement shall have no claim or lien on any revenues or other moneys
of the State, the department, or any agency except moneys appropriated or
otherwise held in trust for that purpose. [L 1996, c 119, pt of §2; am L 2001,
c 200, pt of §3; am L 2007, c 126, pt of §1]