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12-85
12.85 LIMITATIONS.
Bonds or notes issued pursuant to section 12.81 are not debts of
the state, or of any political subdivision of the state, and do not
constitute a pledge of the faith and credit of the state or a charge
against the general credit or general fund of the state. The
issuance of any bonds or notes pursuant to section 12.81 by the
treasurer of state does not directly, indirectly, or contingently
obligate the state or a political subdivision of the state to apply
moneys from, or to levy or pledge any form of taxation whatever to,
the payment of the bonds or notes. Bonds and notes issued under
section 12.81 are payable solely and only from the sources and
special fund provided in section 12.82. Expenses incurred in
carrying out sections 12.81 through 12.84, this section, and section
12.86 are payable solely from funds available under those sections.
Section History: Recent Form
2000 Acts, ch 1174, §24
Referred to in § 12.86
