State Codes and Statutes
Statutes > Rhode-island > Title-35 > Chapter-35-12 > 35-12-14SECTION 35-12-14
§ 35-12-14 Credit of the state. – Obligations issued under the provisions of this chapter shall not constitute adebt, liability, or obligation of the state or of any political subdivisionthereof other than the corporation, or a pledge of the faith and credit of thestate or any political subdivision other than the corporation, but shall bepayable solely from the revenues or assets of the corporation. Each obligationissued under this chapter shall contain on the face thereof a statement to theeffect that the corporation shall not be obligated to pay the obligation orinterest thereon except from revenues or assets pledged therefor, and thatneither the faith and credit nor the taxing power of the state or any politicalsubdivision thereof other than the corporation is pledged to the payment of theprincipal of or the interest on the obligation.
