Obligations issued under the provisions of this chapter do not constitute a debt, liability, or obligation of the state or of any other political subdivision of the state or a pledge of the faith and credit of the state or a political subdivision of the state but are payable solely from the revenue or assets of the authority. Each obligation issued under this chapter shall contain on its face a statement that the authority is not obligated to pay it nor the interest on it except from the revenue or assets pledged for it and that neither the faith and credit nor the taxing power of the state or of a political subdivision of the state is pledged to the payment of the principal of or interest on the obligation.
Structure Alaska Statutes
Title 18. Health, Safety, Housing, Human Rights, and Public Defender
Chapter 57. Regional Electrical Authorities
Sec. 18.57.010. Finding and purpose.
Sec. 18.57.020. Creation of authorities.
Sec. 18.57.030. Tax exemption.
Sec. 18.57.040. Powers of the authority.
Sec. 18.57.050. Bonds and notes.
Sec. 18.57.060. Validity of pledge.
Sec. 18.57.080. Negotiable instruments.
Sec. 18.57.090. Obligations eligible for investment.