2009 Rhode Island Code
Title 45 - Towns and cities
CHAPTER 45-33 - Redevelopment Financing
§ 45-33-6 - Restrictions on liability on bonds.
SECTION 45-33-6
§ 45-33-6 Restrictions on liability on bonds. – 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.
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