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Current as of January 01, 2024 | Updated by Findlaw Staff
Neither the members of an agency nor any person executing the bonds are personally liable on the bonds by reason of their issuance. The bonds and other obligations of any agency (and those bonds and other obligations shall so state on their face) are not a debt of the community, the state or any political subdivision other than the agency and neither the community nor the state, or any political subdivision other than the agency, are liable for them, nor in any event are those bonds or obligations payable out of any funds or properties other than those of the agency. The bonds do not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction.
Cite this article: FindLaw.com - Rhode Island General Laws Title 45. Towns and Cities § 45-33-6. Restrictions on liability on bonds - last updated January 01, 2024 | https://codes.findlaw.com/ri/title-45-towns-and-cities/ri-gen-laws-sect-45-33-6/
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