Rhode Island § 46-12.8-15 § 46-12.8-15. Bonds not obligations of the state.

Rhode Island Statutes

§ 46-12.8-15 — § 46-12.8-15. Bonds not obligations of the state.

Rhode Island § 46-12.8-15

Title 46Waters and Navigation

Ch. 46-12.8Water Projects Revolving Loan Fund

This text of Rhode Island § 46-12.8-15 (§ 46-12.8-15. Bonds not obligations of the state.) 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 § 46-12.8-15 (2026).

Text

§ 46-12.8-15. Bonds not obligations of the state.
Bonds issued by the agency under the provisions of this chapter shall not be deemed
            to be a debt or a pledge of the faith and credit of the state or of any of its political
            subdivisions, but shall be payable solely from the revenues, funds, assets, and other
            property of the agency from which they are made payable pursuant to this chapter.
            Bonds issued by the agency under the provisions of this chapter shall recite that
            neither the state nor any political subdivision thereof shall be obligated to pay
            the bonds, and that neither the faith and credit nor the taxing power of the state
            or of a

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

§ 46-12.8-15. Bonds not obligations of the state.

Bonds issued by the agency under the provisions of this chapter shall not be deemed to be a debt or a pledge of the faith and credit of the state or of any of its political subdivisions, but shall be payable solely from the revenues, funds, assets, and other property of the agency from which they are made payable pursuant to this chapter. Bonds issued by the agency under the provisions of this chapter shall recite that neither the state nor any political subdivision thereof shall be obligated to pay the bonds, 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 interest on the bonds. Further, every bond shall recite whether it is a general obligation of the agency, or a special obligation thereof payable solely from particular revenues, funds, assets, or other property pledged to its payment.