77-5-31 - Bonds of authority not debts of state.
§ 77-5-31. Bonds of authority not debts of state.
No holder or holders of any bonds issued under this article shall ever have the right to compel any exercise of the taxing power of the state or of any political subdivision thereof to pay said bonds or the interest thereon. Each bond issued under this article shall recite in substance that said bond, including the interest thereon, is payable from the revenues pledged to the payment thereof, and that said bond does not constitute a debt of the state.
Sources: Codes, 1942, § 5515; Laws, 1936, ch. 183.