2009 Rhode Island Code
Title 46 - Waters and Navigation
CHAPTER 46-25 - Narragansett Bay Commission
§ 46-25-56 - Credit of state not pledged.
SECTION 46-25-56
§ 46-25-56 Credit of state not pledged. – Notes issued under the provisions of this chapter shall not constitute a debt, liability, or obligation of the state or of any political subdivision thereof other than the commission, or a pledge of the faith and credit of the state or any political subdivision other than the commission, but shall be payable solely from the revenues or assets of the commission legally available for that purpose. Each note issued under this chapter shall contain on the face thereof a statement to the effect that the state shall not be obligated to pay the note or interest thereon, and that neither the faith and credit nor the taxing power of the state or any political subdivision thereof other than the commission is pledged to the payment of the principal or of the interest on the obligation.
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