There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
CHAPTER 247 PROMOTION OF AGRICULTURE AND HORTICULTURE
247.948 Obligations not debt of Commonwealth.
Download pdfpolitical subdivision thereof or a pledge of the faith and credit of the
Commonwealth or any such political subdivision, but shall be payable solely from
the revenues or assets of the corporation. Each obligation issued under the
provisions of KRS 247.940 to 247.978 shall contain on the face thereof a statement
to the effect that the corporation shall not be obligated to pay the same nor the
interest thereon, except from the revenues or assets pledged therefor, and that
neither the faith and credit nor the taxing power of the Commonwealth or any
political subdivision thereof is pledged to the payment of the principal of or the
interest on such obligations. (2) Expenses incurred by the corporation in carrying out the provisions of KRS 247.940 to 247.978 may be payable from funds provided pursuant to KRS 247.940 to
247.978 and no liability shall be incurred by the corporation hereunder beyond the
extent to which moneys shall have been so provided. Effective: April 11, 1984
History: Created 1984 Ky. Acts ch. 374, sec. 5, effective April 11, 1984.
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