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

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

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

Financing agreements entered into under this chaptershall not constitute "bonds" within the meaning of section 12 of articleVII of the Constitution of the State.  No holder or holders of any financingagreement entered into under this chapter shall have the right to compel anyexercise of taxing power of the State, the department, or any agency to pay thefinancing agreements or the interest thereon and no moneys other than amountsappropriated or otherwise held in trust for that purpose shall be required tobe applied to the payment thereof.  Each financing agreement issued under thischapter shall recite in substance that the agreement, including the interestcomponent thereof, shall not be an obligation for which the full faith andcredit of the State, the department, or any agency are pledged, and that thefinancing agreement shall have no claim or lien on any revenues or other moneysof the State, the department, or any agency except moneys appropriated orotherwise 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]