Advertising with us can place you in front of thousands of visitors a day. Learn more!
- Alaska Statutes.
- Title 29. Municipal Government
- Chapter 35. Municipal Powers and Duties
- Section 840. Credit of State or a Municipality Not Pledged.
previous: Section 835
. Validity of Pledge.
next: Section 845
. Pledges of the State and Municipalities.
AS 29.35.840. Credit of State or a Municipality Not Pledged.
- (a) The state and municipalities participating in an authority are not liable for the debts of that authority.
Bonds issued under AS 29.35.825 are payable solely from the revenue of the authority and do not
- (1) debt, liability, or obligation of the state or a municipality; or
- (2) pledge of the faith and credit of the state or a municipality.
- (b) An authority may not pledge the credit or the taxing power of the state or its municipalities. A bond issued
under AS 29.35.825 must contain on its face a statement that
- (1) the authority is not obligated to pay it or the interest on it except from the revenue pledged for it; and
- (2) the faith and credit of the taxing power of the state or of a political subdivision of the state is not pledged
to the payment of it.
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.