Title 36, Chapter 41, Section 10
( 36-41-10)
No bonds or other obligations of and no indebtedness incurred by any
authority shall constitute an indebtedness or obligation of the
state or any county, municipality, or political subdivision thereof,
nor shall any act of any authority in any manner constitute or
result in the creation of an indebtedness of the state or any such
county, municipality, or political subdivision. All such bonds and
obligations shall be payable solely from the sources established for
the payment thereof in the resolution or financing documents
authorizing the issuance of such bonds; and no holder or holders of
any such bonds or obligations shall ever have the right to compel
any exercise of the taxing power of the state or any county,
municipality, or political subdivision thereof, nor to enforce the
payment thereof against any property of the state or any such
county, municipality, or political subdivision. |