Current as of January 01, 2019 | Updated by FindLaw Staff
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The turnpike revenue bonds issued under the provisions of this act shall not be deemed to be a debt of the Commonwealth or a pledge of the faith and credit of the Commonwealth, but such bonds shall be payable exclusively from the fund herein provided therefor from tolls. All such bonds shall contain a statement on their face that the Commonwealth is not obligated to pay the same or the interest thereon except from tolls and that the faith and credit of the Commonwealth is not pledged to the payment of the principal or interest of such bonds. The issuance of turnpike revenue bonds under the provisions of this act shall not, directly or indirectly or contingently, obligate the Commonwealth to levy or to pledge any form of taxation whatever therefor or to make any appropriation for their payment.
Cite this article: FindLaw.com - Pennsylvania Statutes Title 36 P.S. Highways and Bridges § 653b. Bonds payable exclusively from tolls; recitals - last updated January 01, 2019 | https://codes.findlaw.com/pa/title-36-ps-highways-and-bridges/pa-st-sect-36-653b/
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