Indiana Code 5-1.2-4-8. Bonds; liability of state
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Terms Used In Indiana Code 5-1.2-4-8
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Sec. 8. No bonds issued by the authority under this article shall constitute a debt, liability, or obligation of the state, or a pledge of the faith and credit of the state, but shall be payable solely as provided by section 7 of this chapter. Each bond issued under this article shall contain on its face a statement that neither the faith and credit nor the taxing power of the state is pledged to the payment of the principal of or the interest on the bond.
As added by P.L.189-2018, SEC.25.