Advertising with us can place you in front of thousands of visitors a day. Learn more!
- Alaska Statutes.
- Title 14. Education, Libraries, and Museums
- Chapter 42. Postsecondary Education
- Section 260. Nonliability On Bonds.
previous: Section 250
. Validity of Pledge.
next: Section 265
AS 14.42.260. Nonliability On Bonds.
- (a) The members of the board and individuals executing the bonds of the corporation are not liable personally on the bonds
or subject to personal liability or accountability by reason of the issuance of the bonds.
- (b) The bonds issued by the corporation do not constitute an indebtedness or other liability of the state or of a
political subdivision of the state, except the corporation, but shall be payable solely from the income and receipts or
other funds or property of the corporation. The corporation may not pledge the faith or credit of the state, or of a
political subdivision of the state, except the corporation, to the payment of a bond. Issuance of a bond by the
corporation does not directly, indirectly, or contingently obligate the state or a political subdivision of the state
to apply money from, or levy or pledge any form of taxation whatever to the payment of the bond.
All content © 2008 by Touch
N' Go/Bright Solutions, Inc.
Note to HTML Version:
This version of the Alaska Statutes is current through December, 2007. The Alaska Statutes were automatically converted to HTML from a plain text format. Every effort has been made to ensure their accuracy, but this can not be guaranteed. If it is critical that the precise terms of the Alaska Statutes be known, it is recommended that more formal sources be consulted. For statutes adopted after the effective date of these statutes, see, Alaska State Legislature
If any errors are found, please e-mail Touch N' Go systems at E-mail. We
hope you find this information useful.