§ 16-62-15. Credit of state.
Obligations issued under the provisions of this chapter shall not constitute a debt, liability, or obligation of the state or of any political subdivision of the state other than the authority or a pledge of the faith and credit of the state or any political subdivision other than the authority, but shall be payable solely from the revenues or assets of the authority. Each obligation issued under this chapter shall contain on its face a statement to the effect that the authority shall not be obligated to pay the obligation or its interest except from revenues or assets pledged for it and that neither the faith and credit nor the taxing power of the state or any political subdivision of the state other than the authority is pledged to the payment of the principal of or the interest on the obligation.
History of Section.P.L. 1981, ch. 44, § 1.
Structure Rhode Island General Laws
Chapter 16-62 - The Rhode Island Student Loan Authority
Section 16-62-1. - Short title.
Section 16-62-3. - Definitions.
Section 16-62-5. - General powers.
Section 16-62-6. - Additional general powers.
Section 16-62-7. - Directors, officers, and employees.
Section 16-62-8. - Loans to minors.
Section 16-62-9. - Bonds and notes of the authority.
Section 16-62-10. - Security for bonds and notes.
Section 16-62-11. - Trust funds.
Section 16-62-12. - Exemption from taxation.
Section 16-62-13. - Notes and bonds as legal investments.
Section 16-62-14. - Bondholders’ rights not to be affected by state.
Section 16-62-15. - Credit of state.
Section 16-62-16. - Authorization to accept appropriated money.
Section 16-62-17. - Assistance by state officers, departments, boards, and commissions.
Section 16-62-18. - Annual report.
Section 16-62-19. - Inconsistent provisions.