Tennessee Statutes
§ 13-23-124 — Credit of state not pledged
Tennessee·Title 13
(a)(1) Obligations issued under this part shall not be deemed to constitute a debt, liability, or obligation of the state or of any other political subdivision thereof, nor a pledge of the full faith and credit of the state or any other political subdivision, but shall be payable solely from the revenues or assets of the agency.
(2)Each obligation issued under this chapter shall contain on the face thereof a statement to the effect that the agency shall not be obligated to pay the same, nor the interest thereon, except from the revenues or assets pledged therefor and that neither the full 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 obligation.
(3)All obligations of the
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Legislative History
Acts 1973, ch. 241, § 14; 1974, ch. 702, § 9; T.C.A., § 13-2324.
Nearby Sections
15
§ 13-10-101
Chapter definitions§ 13-10-102
Functions of commissioner§ 13-10-104
Authority of commissioner to inspect property and records and conduct investigations and hearings§ 13-10-107
State financial assistance - Contingencies§ 13-10-109
Financial assistance - Approved sources§ 13-10-201
Responsibility for implementation§ 13-10-202
Financial and legal independence§ 13-10-203
Enforcement authority§ 13-10-204
Confidentiality of information§ 13-10-205
Audits and reporting§ 13-10-206
Authority to adopt policies and regulations§ 13-11-101
Short title§ 13-11-102
Purpose§ 13-11-103
Chapter definitions