§2-4012. Revenue bonds not to be considered debt of the state.
197 words·~1 min read·
/ok/title-2-agriculture/2-4012A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Revenue bonds of the Oklahoma State University Veterinary Medicine Authority issued pursuant to the provisions of the Oklahoma State University Veterinary Medicine Authority shall not constitute a debt of the state or of any political subdivision thereof, or a pledge of the full faith and credit of the state, or of any political subdivision thereof, but such bonds shall be payable solely from the funds provided therefor. The forms of the bonds so issued shall contain on the face thereof a statement to the effect that neither the state nor the Authority shall be obligated to pay the same or the interest thereon except from the revenues of the Authority pledged to the payment of such bonds and that neither the
faith and credit nor the taxing power of the state or any political subdivision thereof is pledged, or may hereafter be pledged, to the payment of the principal of or interest on such bonds. The bonds so issued shall be exempt from taxation by the State of Oklahoma and any political subdivision thereof, including the income therefrom, and any gain from the sale thereof. Added by Laws 2023, c. 297, § 12, eff. July 1, 2023.