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Code · New Jersey · Title 52 — Savings and Loan Associations [Repealed] · Chapter 18A

52:18A-68. Credit of State and political subdivisions not pledged

118 words·~1 min read·/nj/title-52/chapter-18a/52-18a-68

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Bonds under the provisions of this act shall not be deemed to constitute a debt or liability of the State or of any political subdivision thereof or a pledge of the faith and credit of the State or of any such political subdivision. All such bonds shall contain on the face thereof a statement to the effect that neither the State nor any political subdivision thereof is pledged to pay the same or the interest thereon and that neither the faith and credit nor the taxing power of the State, or of any political subdivision thereof is pledged to the payment of the principal of or the interest on such bonds.
L.1950, c. 255, p. 891, s. 19.
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