§206-28 State and political subdivisions not liable on bonds. The bonds and other obligations of the board of land and natural resources under this chapter (and the bonds and obligations shall so state on their face) shall not be a debt of the State or of any political subdivision; neither the State nor political subdivisions shall be liable thereon, nor in any event shall they be payable out of any funds or properties other than those of the board under this chapter. The bonds shall not be considered public indebtedness within the meaning of section 12, article VII of the Constitution of the State, nor shall the bonds constitute an indebtedness within the meaning of any other debt limitation or restriction. Bonds may be issued under this chapter notwithstanding any debt or other limitation prescribed by any statute. [L 1961, c 6, §26; Supp, §98J-26; HRS §206-28]
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