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Florida Teachers' Retirement System; Higher Educational Facilities Bonds Code Section 243.29 - Higher Educational Facilities Bonds - Payment of bonds.

Legal Research Home > Florida Lawyer > Teachers Retirement System Higher Educational Facilities Bonds > Florida Teachers' Retirement System; Higher Educational Facilities Bonds Code Section 243.29 - Higher Educational Facilities Bonds - Payment of bonds.

Title XVI   TEACHERS' RETIREMENT SYSTEM; HIGHER EDUCATIONAL FACILITIES BONDS

Chapter 243   HIGHER EDUCATIONAL FACILITIES BONDS

243.29  Payment of bonds.--Revenue bonds issued under the provisions of this part shall not be deemed to constitute a debt or liability of the state or of the county or a pledge of the faith and credit of the state or of any such county, but shall be payable solely from the funds herein provided therefor from revenues. All such revenue bonds shall contain on the face thereof a statement to the effect that neither the State of Florida nor the authority shall be obligated to pay the same or the interest thereon except from revenues of the project or the portion thereof for which they are issued 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. The issuance of revenue bonds under the provisions of this part shall not directly or indirectly or contingently obligate the state or any political subdivision thereof to levy or to pledge any form of taxation whatever therefor or to make any appropriation for their payment.

History.--s. 12, ch. 69-345; s. 1, ch. 77-174.

Last modified: November 21, 2006