Florida Statutes 420.51 – State and local government not liable on bonds or notes
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Terms Used In Florida Statutes 420.51
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: means the Florida Housing Finance Corporation. See Florida Statutes 420.503
- Local government: means a unit of local general-purpose government as defined in…. See Florida Statutes 420.503
- State: means the State of Florida. See Florida Statutes 420.503
The bonds of the corporation shall not be a debt of the state or of any local government, and neither the state nor any local government shall be liable thereon. The corporation shall not have the power to pledge the credit, the revenues, or the taxing power of the state or of any local government; and neither the credit, the revenues, nor the taxing power of the state or of any local government shall be, or shall be deemed to be, pledged to the payment of any bonds of the corporation.