(110 ILCS 945/12) (from Ch. 144, par. 1612)
Sec. 12.
Bonds as obligation of Authority only.
Bonds issued under authority
of this Act shall be obligations of the Authority only, and not of the State
of Illinois. Bonds issued under authority of this Act shall state upon the
face of each Bond
that they represent and constitute a debt of the Authority, but not of the
State of Illinois within the meaning of the provisions of the Constitution
or Statutes of the State of Illinois; and they do not constitute a pledge
of the full faith and credit
of the Authority or of the State of Illinois. The bonds shall not grant
to the owners or holders
thereof any right to have the Authority or the General Assembly levy any
taxes or appropriate any funds for the payment of the principal thereof or
interest thereon. Such Bonds are payable, and shall state that they are
payable, solely from the revenues pledged for their payment in accordance
with the Bond resolution.
Nothing in this Act shall be construed to authorize the Authority or any
department, board, commission or other agency to create an obligation of
the State of Illinois within the meaning of the Constitution or Statutes of Illinois.
(Source: P.A. 82-658.)
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