116-209.12. Credit of State not pledged.
Bonds issued under the provisions of this Article shall not be deemed to constitute a debt, liability or obligation of the State or of any political subdivision thereof or a pledge of the faith and credit of the State or of any such political subdivision, but shall be payable solely from the revenues and other funds provided therefor. Each bond issued under this Article shall contain on the face thereof a statement to the effect that the Authority shall not be obligated to pay the same nor the interest thereon except from the revenues, proceeds and other funds pledged therefor and that neither the faith and credit nor the taxing power of the State or of any political subdivision thereof is pledged to the payment of the principal of or the interest on such bonds. Expenses incurred by the Authority in carrying out the provisions of this Article may be made payable from funds provided pursuant to this Article and no liability or obligation shall be incurred by the Authority hereunder beyond the extent to which moneys shall have been so provided. (1967, c. 1177.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 116 - Higher Education
Article 23 - State Education Assistance.
§ 116-201 - Purpose and definitions.
§ 116-204 - Powers of Authority.
§ 116-204.1 - Council on residency determination policies.
§ 116-205 - Title to property; use of State lands; offices.
§ 116-206 - Acquisition of obligations.
§ 116-207 - Terms of acquisitions.
§ 116-208 - Construction of Article.
§ 116-209.1 - Provisions in conflict.
§ 116-209.3 - Additional powers.
§ 116-209.4 - Authority to issue bonds.
§ 116-209.5 - Bond resolution.
§ 116-209.9 - Negotiability of bonds.
§ 116-209.10 - Bonds eligible for investment.
§ 116-209.11 - Additional pledge.
§ 116-209.12 - Credit of State not pledged.
§ 116-209.14 - Annual reports.
§ 116-209.15 - Merger of trust fund.
§ 116-209.16 - Other powers; criteria.
§ 116-209.16A - Information on career and major options.
§ 116-209.17 - Establishment of student assistance program.
§ 116-209.18 - Powers of Authority to administer student assistance program.
§ 116-209.19 - Grants to students.
§ 116-209.20 - Public purpose.
§ 116-209.22 - Constitutional construction.
§ 116-209.23 - Inconsistent laws inapplicable.
§ 116-209.24 - Parental loans.
§ 116-209.25 - Parental Savings Trust Fund.
§ 116-209.27 - Administration of scholarships previously awarded by Teaching Fellows Program.
§ 116-209.28 - Administration of scholarships previously awarded by the Principal Fellows Program.
§ 116-209.45 - Forgivable Education Loans for Service Program and Fund.
§ 116-209.50 - Recodified as G.S§ 127A-190, effective November 18, 2021.
§ 116-209.51 - Recodified as G.S§ 127A-191, effective November 18, 2021.
§ 116-209.52 - Recodified as G.S§ 127A-192, effective November 18, 2021.
§ 116-209.53 - Recodified as G.S§ 127A-193, effective November 18, 2021.
§ 116-209.54 - Recodified as G.S§ 127A-194, effective November 18, 2021.
§ 116-209.55 - Recodified as G.S§ 127A-195, effective November 18, 2021.
§ 116-209.61 - North Carolina Teaching Fellows Commission established; membership.
§ 116-209.62 - North Carolina Teaching Fellows Program established; administration.
§ 116-209.63 - Terms of forgivable loans; receipt and disbursement of funds.
§ 116-209.81 - Eligibility requirements for a scholarship.
§ 116-209.82 - Semester limitation on eligibility for scholarship.
§ 116-209.83 - Scholarship amounts; adjustment of scholarship amounts.
§ 116-209.84 - Scholarship administration; reporting requirements.
§ 116-209.85 - Scholarship Reserve Fund for Public Colleges and Universities.
§ 116-209.90 - Tuition grants for graduates to attend a constituent institution.