2005 Minnesota Statutes - 136A.35 — Bonds are not state obligation.

     136A.35 Bonds are not state obligation. 


    Bonds issued under authority of sections 136A.25 to 136A.42 
 do not, and shall state that they do not, represent or 
 constitute a debt or pledge of the faith and credit of the 
 state, grant to the owners or holders thereof any right to have 
 the state levy any taxes or appropriate any funds for the 
 payment of the principal thereof or interest thereon.  Such 
 bonds are payable and shall state that they are payable solely 
 from the rentals, revenues, and other income, charges, and 
 moneys as are pledged for their payment in accordance with the 
 bond proceedings.  The legislature intends not to appropriate 
 money from the general fund to pay for these bonds. 


    HIST: 1971 c 868 s 11; 1990 c 610 art 2 s 5