Current with changes from the 2024 Legislative Session
Section 13-1116 - Bonds payable from receipts of Authority(a) The bonds of any issue shall be payable solely from the property or receipts of the Authority, including without limitation:(1) Fees, charges, or other revenues payable to the Authority;(2) Payments by financial institutions, insurance companies, or others pursuant to letters or lines of credit, policies of insurance, or purchase agreements;(3) Investment earnings from funds or accounts maintained under a bond resolution or trust agreement;(4) Proceeds of refunding bonds; and(5) Any other source authorized by law.(b) The bonds do not constitute a debt, liability, or pledge of full faith and credit of the State and may not be deemed to constitute a debt, liability, or pledge of the full faith and credit of the State.