Armory board revenue bonds issued under the provisions of this article shall not be
deemed to constitute a debt of the State or of any political subdivision thereof or
a pledge of the faith and credit of the State or of any such political subdivision,
but such bonds shall be payable solely from the funds herein provided therefor from
revenues. All such bonds shall contain on the face thereof a statement to the effect that
neither the State nor any political subdivision thereof shall be 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 any political subdivision thereof is pledged to the payment of the principal
of or the interest on such bonds.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.