§ 35-12-14. Credit of the 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 thereof other than the corporation, or a pledge of the faith and credit of the state or any political subdivision other than the corporation, but shall be payable solely from the revenues or assets of the corporation. Each obligation issued under this chapter shall contain on the face thereof a statement to the effect that the corporation 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 corporation is pledged to the payment of the principal of or the interest on the obligation.
History of Section.P.L. 1982, ch. 324, § 1.
Structure Rhode Island General Laws
Chapter 35-12 - University of Rhode Island Research Corporation
Section 35-12-1. - Short title.
Section 35-12-2. - Purpose and findings.
Section 35-12-3. - Definitions.
Section 35-12-4. - Creation — Powers — Construction of chapter — Termination.
Section 35-12-5. - General powers.
Section 35-12-6. - Additional powers.
Section 35-12-7. - Directors and officers.
Section 35-12-8. - Notes of the corporation.
Section 35-12-9. - Security for notes.
Section 35-12-10. - Trust funds.
Section 35-12-11. - Exemption from taxation.
Section 35-12-12. - Notes as legal investments.
Section 35-12-13. - Agreement of the state.
Section 35-12-14. - Credit of the state.
Section 35-12-15. - Sale of accounts.
Section 35-12-16. - Annual report and audit.
Section 35-12-17. - Chapter controlling over inconsistent provisions.
Section 35-12-18. - Construction with other statutes.