Section 11 Obligation of commonwealth or political subdivisions on bonds and notes issued by authority - Massachusetts Statutes

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Statutes > Massachusetts > PARTI > TITLEVII > CHAPTER40E > Section11

Section 11. Bonds and notes issued under the provisions of this chapter shall not be deemed to constitute a debt of the commonwealth or of any political subdivision thereof or a pledge of the faith credit of the commonwealth or of any such political subdivision, but such bonds and notes shall be payable solely as provided in section eight. All such bonds and notes shall contain on the face thereof a statement to the effect that neither the authority nor the commonwealth nor any political subdivision thereof shall be obligated to pay the same or the interest thereon except as provided in section eight and that neither the faith and credit nor the taxing power of the commonwealth nor any political subdivision thereof is pledged to the payment of the principal of or the interest on such bonds.

State Codes and Statutes

Statutes > Massachusetts > PARTI > TITLEVII > CHAPTER40E > Section11

Section 11. Bonds and notes issued under the provisions of this chapter shall not be deemed to constitute a debt of the commonwealth or of any political subdivision thereof or a pledge of the faith credit of the commonwealth or of any such political subdivision, but such bonds and notes shall be payable solely as provided in section eight. All such bonds and notes shall contain on the face thereof a statement to the effect that neither the authority nor the commonwealth nor any political subdivision thereof shall be obligated to pay the same or the interest thereon except as provided in section eight and that neither the faith and credit nor the taxing power of the commonwealth nor any political subdivision thereof is pledged to the payment of the principal of or the interest on such bonds.

State Codes and Statutes

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State Codes and Statutes

Statutes > Massachusetts > PARTI > TITLEVII > CHAPTER40E > Section11

Section 11. Bonds and notes issued under the provisions of this chapter shall not be deemed to constitute a debt of the commonwealth or of any political subdivision thereof or a pledge of the faith credit of the commonwealth or of any such political subdivision, but such bonds and notes shall be payable solely as provided in section eight. All such bonds and notes shall contain on the face thereof a statement to the effect that neither the authority nor the commonwealth nor any political subdivision thereof shall be obligated to pay the same or the interest thereon except as provided in section eight and that neither the faith and credit nor the taxing power of the commonwealth nor any political subdivision thereof is pledged to the payment of the principal of or the interest on such bonds.