Ohio Code 3377.15 – Bonds not debt of state
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Bonds issued under authority of Chapter 3377 of the Revised Code do not, and shall state that they do not, represent or constitute a debt or pledge of the faith and credit of the state, grant to the owners or holders thereof any right to have 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 rentals, revenues, and other income, charges, and moneys as are pledged for their payment in accordance with the bond proceedings.
Terms Used In Ohio Code 3377.15
- Bond: includes an undertaking. See Ohio Code 1.02
- state: means the state of Ohio. See Ohio Code 1.59