Rhode Island § 35-8.1-17 § 35-8.1-17. Bonds neither debt of or pledge of credit by state or subdivisions.

Rhode Island Statutes

§ 35-8.1-17 — § 35-8.1-17. Bonds neither debt of or pledge of credit by state or subdivisions.

Rhode Island § 35-8.1-17

Title 35Public Finance

Ch. 35-8.1Refunding Bond Authority

This text of Rhode Island § 35-8.1-17 (§ 35-8.1-17. Bonds neither debt of or pledge of credit by state or subdivisions.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 35-8.1-17 (2026).

Text

§ 35-8.1-17. Bonds neither debt of or pledge of credit by state or subdivisions.
(a) Bonds issued under this chapter shall not be deemed to constitute a debt of the state
            or any other political subdivision thereof or a pledge of the faith and credit of
            the state or any other political subdivision thereof, but shall be payable solely
            from the funds provided therefrom from revenues. Each bond must contain on its face
            a statement to the effect that the authority is obligated to pay the principal thereof
            and the interest thereon only from revenues or funds of the authority and that neither
            the faith and credit nor the taxing power of the state is

Free access — add to your briefcase to read the full text and ask questions with AI

§ 35-8.1-17. Bonds neither debt of or pledge of credit by state or subdivisions.

(a) Bonds issued under this chapter shall not be deemed to constitute a debt of the state or any other political subdivision thereof or a pledge of the faith and credit of the state or any other political subdivision thereof, but shall be payable solely from the funds provided therefrom from revenues. Each bond must contain on its face a statement to the effect that the authority is obligated to pay the principal thereof and the interest thereon only from revenues or funds of the authority and that neither the faith and credit nor the taxing power of the state is pledged to the payment of the principal or the interest on the bonds.

(b) Except as may be otherwise expressly provided in this chapter or by the authority, every issue of bonds of the authority shall be general obligations of the authority payable out of any revenues or funds of the authority. Bonds may additionally be secured by a pledge of any grants, subsidies, contributions, funds, or moneys from the United States or the state or any governmental unit or any person, firm, or corporation, or a pledge of any income or revenues, funds, or money of the authority from any source whatsoever.