Minnesota Statutes 137.65 – No Full Faith and Credit

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Minnesota Statutes 137.65

Public debt: Cumulative amounts borrowed by the Treasury Department or the Federal Financing Bank from the public or from another fund or account. The public debt does not include agency debt (amounts borrowed by other agencies of the Federal Government). The total public debt is subject to a statutory limit.
state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44

Any bonds or other obligations issued by the board under sections 137.61 to 137.65, are not public debt of the state, and the full faith and credit and taxing powers of the state are not pledged for their payment, or of any payments that the state agrees to make under sections 137.61 to 137.65.