2013 Rhode Island General Laws
Title 46 - Waters and Navigation
Chapter 46-25 - Narragansett Bay Commission
Section 46-25-65 - Credit of the state of Rhode Island.
§ 46-25-65 Credit of the state of Rhode Island. – Obligations issued under the provisions of §§ 46-25-58 – 46-25-66 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. Each obligation issued pursuant to §§ 46-25-58 – 46-25-66 shall contain on the face thereof a statement to the effect that the commission shall not be obligated to pay the obligation or interest thereon except from revenues or assets pledged therefor, 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 of or the interest on the obligation.
History of Section.
(P.L. 1989, ch. 557, § 3.)
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