RSA 195-D:11 · Credit of State Not Pledged

195-D:11 Credit of State Not Pledged. – Revenue bonds issued under the provisions of this chapter do not and shall not be construed to constitute a debt or liability of the state or of any municipality or political subdivision thereof or a pledge of the faith and credit of the state or of any such municipality or political subdivision. These revenue bonds are payable solely from the revenue funds provided by this chapter for their payment. All such revenue bonds shall contain on the face thereof a statement to the effect that neither the state nor the corporation are obligated to pay the same or the interest thereon except from revenues of the project or projects for which they are issued and that neither the faith and credit nor the taxing power of the state or of any municipality or political subdivision thereof is pledged to the payment of the principal of or the interest on such bonds. The issuance of revenue bonds under the provisions of this chapter shall not directly or indirectly or contingently obligate the state or any municipality or political subdivision thereof to levy or to pledge any form of taxation whatever therefor or to make any appropriation for their payment. Source. 1969, 318:1, eff. Aug. 29, 1969.

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