RSA 204-C:44 · Credit of State Not Pledged

204-C:44 Credit of State Not Pledged. –
Obligations issued under this chapter shall not be deemed to constitute a debt or liability or obligation of the state or of any political subdivision of the state, or a pledge of the faith and credit of the state or of any political subdivision of the state, but shall be payable solely from the revenues or assets of the authority. All such obligations issued under this chapter shall contain on their face a statement to the effect that the authority shall not be obligated to pay the same nor the interest on such obligations except from the revenues or assets pledged for them and that neither the faith and credit nor the taxing power of the state or of any political subdivision of the state is pledged to the payment of the principal of or the interest on such notes and bonds. The issuance of obligations under this chapter shall not directly or indirectly or contingently obligate the state or any political subdivision of the state to levy or to pledge any form of taxation whatever for such obligations or to make any appropriation for their payment.
Source. 1981, 466:2, eff. July 1, 1981.