- Alaska Statutes.
- Title 44. State Government
- Chapter 83. Alaska Energy Authority
- Section 130. Nonliability On Bonds.
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. Validity of Pledge.
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. Pledge of the State.
AS 44.83.130. Nonliability On Bonds.
- (a) Neither the members of the authority nor a person executing the bonds is liable personally on the bonds or is subject
to personal liability or accountability by reason of the issuance of the bonds.
- (b) The bonds issued by the authority do not constitute an indebtedness or other liability of the state or of a political
subdivision of the state, except the authority, but shall be payable solely from the income and receipts or other funds
or property of the authority. The authority may not pledge the faith or credit of the state or of a political
subdivision of the state, except the authority, to the payment of a bond and the issuance of a bond by the authority
does not directly or 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.
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